Psychologist Salary

Psychologist Salary: Psychologist typically works and earn salaries in a variety of settings that include schools, clinics and private practice.  While difficult to determine the exact number of hours employed the US Bureau of Labor Statistics considers full time employment to be 40 hours per week or 2080 hours per year.  The American Psychological Association Research Office's salary survey estimated that the average full time work week was 35 hours. 

Psychologist Salary: Median Hourly & Annual Data

Hourly

Psychologists’ average salary is less than $40.00 per hour. The lowest 10% earn less than $20.00 per hour and those in the upper 10% earn more than $60.00 per hour.

Annually

On an annual basis the average Psychologist salary is greater than $70.00. The lowest 10% less than $35,000 per year while the upper 10% earned more than $90,000.  These salaries are calculated as a mean or average. 

Lowest and Highest Psychologist Salary

The lowest paid psychologist salary is less with mean or average wages below $18 per hour.  Presumably this is offset by costs of living and other factors.  The lower pay levels are associated with rural areas.  The highest pay levels are found in major metropolitan areas where the mean or average wage is over $51 per hour.  Demand and low supply seem to be a significant factor in fueling higher salaries.

Top 5 States

The 5 best paying states for a psychologist salary are Vermont, New York, District of Columbia, Rhode Island, and Connecticut.   

 Top 5 Metropolitan Areas

The top 5 best paying metropolitan areas are Vallejo-Fairfield, CA, San Diego-Carlsbad-San Marcos, CA, Des Moines-West Des Moines, IA, Indianapolis-Carmel, IN, and Bakersfield, CA.

Other Industries that Employ Psychologists

A number of psychologists work for the government and as teachers or faculty at colleges.  There are also some psychologists working for the U.S. military.

Employment Data

According to the US Bureau of Labor Statistics there are over 180,000 Psychologists employed in the United States.  

Where They Work

Of all the Psychologists employed in the United States approximately 25% work in educational institutions.  Approximately 40% are considered self employed.  20% work directly in health care settings such as hospitals and clinics. The remaining 15% work in local, state, and federal government settings.

Private Practice vs. Employment

A rapidly growing trend among professionals is the establishment of a private practice after a few years working and gaining experience.  Approximately 75,000 Psychologists are in private practice or self-employed.  This leaves approximately 110,000 who actually are considered employed.

Benefits

Fringe benefits will vary depending on business size and other factors.  A typical employment benefits package is worth over $20,000 per year.

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