Once you have your doctorate in psychology, you have several options for practice, and your specialty will affect your salary. Clinical, counseling and research psychologists typically need a doctorate, and some school psychologists also have a doctoral degree. Salaries vary by specialty, work setting and location.
About the Money
Clinical, counseling and school psychologists earned an average annual salary of $72,710 in 2013, reports the Bureau of Labor Statistics. Most in this group worked in elementary and secondary schools, where the average salary was $71,840. Those who worked in state government earned more -- the average annual salary was $78,580. The top-paying health care setting for this group was specialty hospitals, where the average salary was $86,070. West Virginia was the lowest-paying state, at $50,770, and Hawaii paid the top salary of $102,990. Although the BLS does not report salaries according to educational attainment, some research psychologists would fall under the “all other psychologists” classification. The average annual salary for this group was $88,400 in 2013. Vermont offered the lowest salary at $69,150, while psychologists in New Hampshire took home $132,590.
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