Interested in Being a Psychologist but Worried about Pay

<p>Hello, I'm really interested in being a psychologists. Mostly because I love helping people, giving advice, and aiding them with their problems. I realize that I'll have to go to school for like 8 years or so, but I looking at the salaries they don't give a clear indication on how much I'll make. Some sites give a median of $70k others give one of $48k. I'm just really confused and don't want to go to school so long and owe so much money in loans when I'll make so little. Does anybody know much about the pay in the psychology field for a doctorate?</p>

<p>It will depend a lot on what part of the country, and what type of setting you work in. If you do private practice, accept insurance, and primarily do therapy ( as opposed to psych testing), it will be very different for working for an agency, like a school district, in which you are likely to do mostly psych testing and get paid a salary. I am not a psychologist, and I don't know salary specifics.</p>

<p>Those salaries sounds more like a psychologist with a masters. Get a MD and become a Psychiatrist. You'll make close to 200k+.</p>

<p>That's what I was thinking but Psychiatrists hardly do any counseling. It's more or less talk to a patient for seven minutes about why they need to take a certain prescription and prescribe it to them. The rest is paper work.</p>

<p>You CAN do therapy (I am a psychiatrist and I do), but you won't make nearly as much dint know what "close to 200k+" means, but I think 200k is above average, and even the average is someone probably writing a LOT of prescriptions,</p>

<p>Also, the "Get an MD" part is easier said the done, and a psychiatry residency takes a relatively long time for a low-for-an-MD-income.</p>

<p>From personal experience (relatives), income for psychologists can fluctuate depending on where/how you choose to practice. Basically, if you work at a hospital and accept insurance, you will probably not be making to much. On the other hand, if you choose to do more 'counseling' type things in a wealthy area (almost turning it into a "chat") you can get paid well into the six-figures and probably reaching if not exceeding 200k. There is also a lot of income in the realm of motivational speaking and teaching CE courses.</p>

<p>As a psychologist, you should have no problem earning a living, but it will depend largely upon if you focus on 'charity cases' with patients whose insurance may sometimes not cover therapy.</p>

<p>Well I plan to open up my own private practice after said years in the field (obviously a fair share).</p>

<p>I'm just uncomfortable that I'm going to be working toward a doctorate and only end up making only 50k a year.</p>

<p>Also thanks for the replies so far people! :)</p>