Here are some FACTS all students should know. Clinical psychology is probably the most difficult graduate program in terms of how long the training takes and how many requirements you must pass (it will take you 8 years after college to become a licensed psychologist)
1) After completing your bachelors degree, a clinical psychology PHD or PsyD will take you an additional 5-7 years of full-time graduate study.
2) If your program is not funded, this may cost you $200,00 in loans.
3) There is a HUGE imbalance and shortage of internship positions (this is a requirement to graduate) and the stipend is $25,000 at best if you get into a super competitive position. There are currently about 100 applicants per 1-2 positions. Look at the APA MATCH RATES for each program before you apply. They should be close to 100%. THIS IS HUGELY IMPORTANT IN YOUR DECISION TO GO SOMEWHERE.
4) If you land a post-doc AFTER graduating, this will pay you between 25,000-45,000 on the high end.
5) After you graduate, you will still need 3,000 hours (this includes internship hours) to be licensed. You will need to take a demanding exam and some states have further regulations, such as an oral exam and case formulation, which may have very low passing rates (50% in NJ). This can delay your ability to practice after you graduate for several years!
6) Salaries in clinical psychology are among the lowest compared to other professions, particularly given the extensive training requirements you must pass (yes, its longer than medical school and much more competitive). Current salaries are very low for clinical post-docs (between 25,000-35,000). Average mid-career salaries can range from 60,000-85,000 plus depending on where you work.
GOOD LUCK EVERYONE.
