The Average Salary of Psychology Majors
Psychologists typically need a Ph.D. to call themselves doctors and practice their profession of unlocking the human mind. However, those with bachelor's degrees can still find positions that put their education to good use in jobs that require knowledge of human behavior. As with other professions, the salaries for jobs of psychology majors vary by type, experience, employer and skill.
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Salary by Job Type
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The job type primarily defines the salary for psychology majors. The highest-paying of these is human resources (HR) manager at $41,437 to $77,828 per year as of February 2011. This individual is responsible for the staff and resources in her department as well as the benefits and motivational programs of her organization. An HR generalist, on the other hand, may handle only a small part of human resources and thus earns less at $40,631 to $55,300 annually. Other jobs and salaries include social worker at $29,020 to $41,127 yearly, social services case manager at $26,333 to $36,395 yearly, and administrative assistant at $29,163 to $37,340 per year.
Salary by Experience
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Experience means higher salaries because it increases the skill and performance levels of graduates and provides them more opportunities to put their psychology education into practice. New employees make a median $31,666 per year, while those with one to four years of work earn $38,962. At five to nine years of employment, they make $49,389, and at 10 to 19 years, they get $58,522. Finally, at 20 years or more of experience, they top out at $74,743.
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Salary by Employer Type
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The type of employer can affect salaries because it dictates the duties, responsibilities and potential clients. For example, those working in foundations and trusts earn the most at a median $64,463 per year, followed by those in hospitals at $51,604. Those working in companies get $50,914, and those who are self-employed earn less at $38,805 because they must spend uncompensated time looking for paying clients. Those in the federal government get $49,685, and those in state and local jurisdictions are paid $44,502.
Skills
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Acquiring additional skills can increase the types of tasks that psychology majors can perform and can thus enhance their salaries. The highest-paying of these is project management, which enables them to manage schedules, budgets, materials and staff to complete complex goals. It pays a median $77,418 per year. Marketing communications gives practitioners the ability to increase the desirability of their goods and services. These skills lead to a median salary of $71,211 annually. Expertise with a business suite such as Microsoft Office enables the graduate to communicate quickly and efficiently and pays a median $51,183 annually.
Skills
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Having additional skills can increase the type of tasks that psychology majors can perform, and can thus enhance their salaries. The highest paying of these is project management, which enables them to manage schedules, budgets, materials and staff to complete complex goals. It pays a median $77,418 per year. Marketing communications increases the ability of practitioners to increase the desirability of their goods and services. This skills gains a median $71,211 annually. Expertise with a business suite such as Microsoft Office, enables the graduate to communicate quickly and efficiently, and pays a median $51,183 annually. (REFERENCE 4)
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