What Is The Average Salary A Psychology Major Makes After Graduation?
Individuals who major in psychology who do not continue to further their education in graduate school are generally able to seek employment in a variety of fields. Salaries for psychology majors who only hold a bachelor’s degree will vary from title to title, but as a general group, these graduates typically earn between $30,000 and $43,700 per year.
In addition, contrary to popular believe, psychology majors who hold a bachelor’s degree are not destined to have low-paying or boring jobs compared to their doctorate- and master’s-attaining colleagues. Some examples of jobs that an individual can hold with a bachelor’s degree in psychology include social worker, human resources generalist, case manager, teacher and human resources manager. Other fields in which these graduates can work include insurance, marketing, finance and business, and both private and public sector employers have bene known to hire employees who only hold a bachelor’s degree in psychology.
According to the National Association of Colleges and Employers, the average salary in 2013 of a psychology major was $37,200, a 5.7 percent increase from the $35,200 salary reported in 2012. However, the amount for any specific employee will greatly depend on the industry in which he or she works as well as the location of the job and his or her overall experience in the field. Before setting out to find a new career in psychology, it is also important to conduct research about your major to obtain a rough estimate of where you stand compared to the competition. By doing this, you will be able to set a minimum pay scale for yourself based on your degree and experience, so you will know right away if an offer you receive is simply too low or not worthy of your consideration.
Keep in mind that individuals with a bachelor’s degree in psychology are somewhat limited in terms of earning potential, and if you would like to earn more income, you will need to continue into graduate school to attain at least a master’s degree. A doctorate degree and a master’s degree will both ensure that you are adequately trained in order to practice as a psychologist, therapist, counselor or a psychiatrist at the doctorate level. These occupations, according to statistics, typically come with significantly higher incomes. For instance, graduates with doctorate degrees will earn an average of $6,000 to $8,000 more than similar graduates who attain only a master’s degree in psychology.