Masters in Psychology

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Average Salary With a Master’s in Psychology

Are you interested in earning more money in the field of psychology? If so, one of the best choices you can make is to go back to school to get your masters degree. Having an advanced degree in this field makes it possible for you to not only earn more money, but also find a job more easily, something that is important in today’s job market. Let’s take a look at the average salary you can expect to receive with a masters degree in this field, as well as how to make more money working in psychology.

Base Salary for Psychology Students

According to the Bureau of Labor Statistics, clinical, counseling, and school psychologists combined earned an average of $64,140 annually as of 2008. There are, of course, other job options in this industry as well, especially if you earn your counseling license, but this salary is consistent with what you can expect in most cases. The top ten percent of psychologists earn $106,840 or more, and with a masters degree and some experience in the field, you can expect to approach those figures in your own career.

Factors that Affect Salary

There are a number of factors that will change what you can expect for a salary if you have a masters degree in psychology. First, take location into consider. In some states, you can expect a higher salary than others; the highest psychologist salaries (on average) are found in the following states:

  • New Jersey: $91,910
  • Colorado: $88,930
  • California: $82,770
  • New York: $82,300
  • Rhode Island: $79,070

Keep in mind that you’ll also make more money if you live in a metropolitan area. Cost of living is higher in these areas, so it might actually be in your best interest to live in a more rural area, depending on your career goals. The highest-paying cities for psychologists, on average, are:

  • Montgomery, Alabama: $112,600
  • Hanford-Corcoran, CA: $110,330
  • Trenton-Ewing, NJ: $109,730
  • Salinas, CA: $104,420
  • Bakersfield, CA: $101,970

Additionally, you can make more money by gaining experience in the field over time, earning certifications based on your specific area of expertise, working in high-need areas with difficult patients (such as in a mental hospital or jail), and going on to earn your doctorate degree in the field.

Online Masters Degree in Psychology Guide

Capella University – Capella University offers several advanced online degree programs in Psychology, including: MS in Psychology, MS in Clinical Psychology, MS in Counseling Psychology and MS in School Psychology. Skilled professionals with clinical experience teach the curriculum. Students will also develop critical thinking skills necessary to help understand and apply key psychological principles in diverse work settings.
Walden University – Walden University offers many online masters degree programs in Psychology, including: MS in Psychology, MS in Media Psychology, and MS in Social Psychology. Students will study current theories and research associated with dysfunctional behavior that can be applied in a range of settings including healthcare, education, government and business environments.
Kaplan University – Kaplan University offers several graduate-level online degree programs in Psychology, including: MS in Psychology, MS in Addictions Psychology, MS in Behavioral Psychology and MS in Organizational Psychology. Each course includes clearly set goals, so that students know what is expected of them and class sizes are limited, allowing students to receive the personal attention that they desire. The program prepares students for employment in he field of psychology and in postsecondary education.
Northcentral University – Northcentral University offers several advanced online degree programs in Psychology, including: MA in Psychology, MA in Gender Studies Psychology, MA in Health Psychology and MA in I/O Psychology. Students can choose from a wide variety of different degree options, virtually guaranteeing each the chance to succeed in the specialty that truly appeals to him/her. Administrators and mentors work directly with students throughout the program.
Saint Joseph's University – As a leader in the higher education industry, Saint Joseph's University has maintained its place on the cutting edge of new shifts and advances in online learning. In response to increased demand for online programs, SJU has added an online course for MS in Behavior Analysis to its course catalog. This program qualifies its graduates to take the licensure exam to become a board-certified behavior analyst.
Grand Canyon University – Grand Canyon University offers both MS in Psychology and MS in I/O Psychology online degrees. The programs are designed for individuals who desire promotion and/or continued academic exposure in the field of psychology. With a focus on the development of critical thinking and leadership qualities, courses include: Human Development, Learning, Cognition, and Motivation, and Contemporary and Ethical Issues in Psychology.
University of Liverpool – The University of Liverpool offers an online MS degree in Forensic Psychology. Liverpool is one of the leading Psychology departments in the UK. Over 3,500 graduates from more than 130 countries have participated in the online program. Cutting edge research and contributions from leading academics and practitioners in the field creates a rich and highly stimulating experience for students.

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