"Average" Salary

[sarahkristy117]

Advertisement - Members don't see this ad

Hey so this may be a question with no true answer, but, what is the average salary for a clinical psychologist in the northeast united states?

I know that this varies wildly dependent upon position, but what could a competitive student expect to make right out of grad school?

😕

 

[erg923]

I think a range is the only good way to answer this question. The means get skewed. Depends on academic positions or clincial positions as well. Group practice, private pracrtice, hospital, or community mental health center too. To many variables. I'd say 50k-110k right out of grad school.

 

[myelin]

http://research.apa.org/t16dsalaries07.pdf and http://research.apa.org/salsurv.html

 

[JackD]

Enough to live on, i would say. I have never heard of a homeless psychologist. Although if you are going into the field just to make money, you may be doing it for the wrong reasons. I'm not saying you are, i know nothing about you or you situation in life. The money seems to range from average to decent. Nothing to get excited over though and that is probably the way it should be.

I think this field is about doing what you love and about helping people, not about money. I would be totally happy if i were to become a psychologist and make just enough money to get by. Maybe that is just my anti-materialistic, ultraliberal, hippy philosophy talking but i say who cares about the money, unless you are in a situation where you need a lot? And i do understand that some people do need a lot to get by. But if all you need is enough to support yourself or a family, and maybe a little to have fun now and then, being a psychologist should fulfill that need.

However, if you want to strike it rich with a mansion and a garage full of expensive foreign cars, i don't think psychology is the way to go, even many years down the line. Again, i'm not saying that is your intention and i doubt it is, but just in case that is what anyone is looking for, it probably won't happen with clinical psychology.

 

[myelin]

Enough to live on, i would say. I have never heard of a homeless psychologist. Although if you are going into the field just to make money, you may be doing it for the wrong reasons. I'm not saying you are, i know nothing about you or you situation in life. The money seems to range from average to decent. Nothing to get excited over though and that is probably the way it should be.

I think this field is about doing what you love and about helping people, not about money. I would be totally happy if i were to become a psychologist and make just enough money to get by. Maybe that is just my anti-materialistic, ultraliberal, hippy philosophy talking but i say who cares about the money, unless you are in a situation where you need a lot? And i do understand that some people do need a lot to get by. But if all you need is enough to support yourself or a family, and maybe a little to have fun now and then, being a psychologist should fulfill that need.

However, if you want to strike it rich with a mansion and a garage full of expensive foreign cars, i don't think psychology is the way to go, even many years down the line. Again, i'm not saying that is your intention and i doubt it is, but just in case that is what anyone is looking for, it probably won't happen with clinical psychology.

What are you talking about?

 

[sarahkristy117]

No, not in it for the money. Just wondering how lucrative this degree is and if it will pay off the loans I need to attain it.

 

[Ollie123]

Post-doc 35-40k.
First faculty job anywhere from 45-80k depending on setting.

 

[PsyDGrrrl]

http://research.apa.org/t16dsalaries07.pdf and http://research.apa.org/salsurv.html

But those are only faculty positions and private practice.

In California, if you work in a non-profit or community mental health setting, you can expect to make $45-55k starting. College counseling is about the same, although the UC's pay a little better. Kaiser pays about $55-60k unlicensed, $72 licensed (in Northern CA; Southern CA doesn't hire psychologists). The prisons pay about $97k and the state hospital system, $82k.

 

[nononora]

You could try looking at www.salary.com

There's a "Salary Wizard" on the left where you can enter a job title and your zip code. Not sure how accurate it is though.

 

[deleted176373]

No, not in it for the money. Just wondering how lucrative this degree is and if it will pay off the loans I need to attain it.

If you are looking into paying off your loans examine federal loan forgiveness and military options... both can offset the cost of your education for a "price." For some, that price is too steep, for others it's the deal of a lifetime.

Mark

PS - The military starts you off at about 60k in many cases. Loan repayment is roughly an additional 25-30k per year on top of that.

 

[myelin]

But those are only faculty positions and private practice.

http://research.apa.org/03salary/homepage.html#dhs_clinical

Twelve hundred-nineteen doctoral-level respondents were licensed, claimed clinical psychology as their major field, and were involved in the direct delivery of health and mental health services to clients in 2003.

The majority of these respondents was employed in practices (60%), including individual private practices, group private practices, and medical psychological group practices (44%, 12%, and 5%, respectively). Approximately 13% and 6% of respondents reported that they worked in hospitals and clinics (e.g., CMHCs, HMOs, outpatient clinics), respectively.

The overall 11-12-month median salary for licensed doctoral-level clinical psychologists was $75,000 in 2003, based on 1,154 valid responses. Figure 5 and Table 5 contain frequency distributions and summary statistics, respectively.

The 2003 data is complete. Seems as if they are still working on the 2007 data.

 

[PsyDr]

this individual is asking for salaries RIGHT OUT OF GRAD SCHOOL. correct me if i am wrong, but this says "post doc" to me.

to which the answer is 35-45k until you get your license, which generally takes 1 year.

after which the aforementioned salaries apply.

 

[deleted176373]

this individual is asking for salaries RIGHT OUT OF GRAD SCHOOL. correct me if i am wrong, but this says "post doc" to me.

to which the answer is 35-45k until you get your license, which generally takes 1 year.

after which the aforementioned salaries apply.

My 60k number is an internship salary.

Mark

 

[PsyDr]

military?

 

[deleted176373]

military?

Yes, kind of an exception to the general rule.

Mark

 

[PsyDGrrrl]

this individual is asking for salaries RIGHT OUT OF GRAD SCHOOL. correct me if i am wrong, but this says "post doc" to me.

to which the answer is 35-45k until you get your license, which generally takes 1 year.

after which the aforementioned salaries apply.

I am right out of grad school and working in one of those jobs.

 

[sarahkristy117]

I am actually looking for salaries after you are licensed.

 

[PsyDr]

oops, then APA salary info by your region and years of practice.

 

[nd08]

it depends...if you run and manage your own clinic with Master's level therapists you could make a couple hundred....I know a psy d who has his own private practice and he makes 200k

all depends on what you make of it

 

[blairan]

To echo what many have already said, your earning potential pre-licensure and post-licensure vary widely depending on the specialty areas you develop during training and the setting in which you practice. Most of my cohort (about 4 years out of a PsyD program) fall into the 50-70k range, with a few outliers.

 

[deleted176373]

To echo what many have already said, your earning potential pre-licensure and post-licensure vary widely depending on the specialty areas you develop during training and the setting in which you practice. Most of my cohort (about 4 years out of a PsyD program) fall into the 50-70k range, with a few outliers.

Wow, think about that $150k of professional school debt for a 50-70k per year job. Doing what you love is important, but this simply isn't fair to those in our field. We need to look out for our field as we find ourselves in leadership positions in the future, because this just isn't right.

Mark

 

[hereandnow]

I saw this ad on craigslist and thought it was worth excerpting here, just cause it seems relevant to the discussion:

http://losangeles.craigslist.org/wst/hea/1090872561.html

Welcome to Adelstein Registry Counselors!

We have the highest paying assignments for contract Psychologists throughout California's correctional facilities. *Please note* these positions are for LICENSED or SOON-TO-BE licensed Psychologists (Ph.D., Psy.D.) only.

Compensation is $146,000.00-$178,000.00.

 

[Therapist4Chnge]

Forensics is a great area to be in for $$, though they tend to churn through people.

 

[Therapist4Chnge]

I recently lectured on The Business of Psychology, which touched on: mainstream v. alternative career paths, average salaries v. earning potential, passive v. income revenue streams, consultation, etc.

Below are some basic numbers, and some quick and dirty formulas I threw together to help people get a better idea of what is out there, particularly in regard to private practice opportunities. The info was pulled directly from my slides, so I'm not sure how they will format.....

-----------------------------------------------------------------------


The American Psychological Association's research office conducted a study of 1,104 doctoral-level respondents who were licensed, claimed clinical psychology as their major field, and were involved in the direct delivery of health and mental health services to clients in 2001.

• 65 percent worked in independent practices (46% in individual private practices and 19% in group private practices)
• 14 percent worked in hospitals
• Five percent worked in clinics
• Three percent worked in elementary / secondary schools
• Two percent or less worked in other settings, such as university counseling centers, criminal justice systems, rehabilitation facilities or other human service settings

-
According to Payscale.com, the overall 11-to-12 month median salary for licensed doctoral-level clinical psychologists was $63,935 in 2008. A further breakdown reveals the following average salaries of these clinical psychologists:

• 0 – 1 year: $51,309
• 0 – 4 years: $53,087
• 5 – 9 years: $63,935
• 10 – 19 years: $71,739
• 20 – 24 years: $75,727
• 25 – 29 years: $82,076
• 30+ years: $92, 582

-

Salaries for clinical psychologists in the US vary depending upon where you work. A survey based on type of workplace environment revealed the following median salaries:

• Hospital: $64,611
• Non-Profit Organization: $55,844
• Private Practice: $74,323
• College or University: $52,319
• School or School District: $57,644
• Federal Government: $81,840
• Company: $60,196

-
Some things to consider:

• Salaries for individuals who are employed full time (at least 35 hours per week in salaried positions)
• Net income after office expenses for self-employed individuals who are working at least 35 hours per week
• Net income for individuals with a full-time (at least 32 hours per week) independent practice
• Because many psychologists have additional sources of income from multiple work activities and settings, this data may not represent total income.

Source: 2001 Salaries in Psychology; Research Office, American Psychological Association, 2006; Payscale.com, 2008

--

Scary numbers...huh?

Here is some other (simplified) scary math:

Private Practice Income (taking insurance)
(Total Hours x Productivity Rate) x (Hourly Rate Insurance x Full Payment Rate) - (Hard Costs + Soft Costs + Incidentals) = Net Income

Example
Total Hour = Total hours spent working towards your PP
Productivity Rate = % rate you can bill insurance for, shooting for 80-85% is pretty good.
Hourly Insurance Rate = Your negotiated rate from the insurance company
Full Payment Rate = Overall rate at which insurance pays the amount
Hard Costs = Facilities, electric, water, various insurances, etc.
Soft Costs = Marketing, admin assistant/medical billing, etc.
Incidentals = Office supplies, magazine/journal subscriptions, CEs, etc.

Some practices offer a % fee to cover the "cost" end of things, typically 15-20%, so some people prefer that.

The biggest variable is the reimbursement rate, as I've seen some horrid #'s in the mid-$50's, up to $120s or so for intakes/evals.

(40 x 80%) x ($85 x 90%) = $2448/wk Gross Profit

Gross Profit x 83% (if you give 17% for overhead and associated costs to the practice) = $2302/wk

Not bad..right?

The average full-time private practice can take anywhere from 6 months to 2+ years to build, and even then it can be difficult. A large % of practices fail to reach a full year, while others often fail due to an inability to fill spots.

The math is much dirtier than above because of varying rates of reimbursement, lag time for reimbursements, hours wasted fighting a rejected claim, start-up costs ($ and time), lost earning potential will setting up your office, etc.

--

All of the above is why you hire someone like me to come in as a consultant. 😀 It is just like building any other service based business, with a few fun wrinkles for insurance, etc. Ok...more than a few, but you get the idea.

I'll leave the gruesome math for my pitch presentations, but feel free to ask any questions.

 

[deleted176373]

I saw this ad on craigslist and thought it was worth excerpting here, just cause it seems relevant to the discussion:

http://losangeles.craigslist.org/wst/hea/1090872561.html

You just never know who's gonna be in that hotel room though. While contract work is great, it also lacks job security. Trust me, there is a reason why working contract pays 2-3x more than working salary and for some people it's a perfect fit. I used to do network security contracting... feast or famine... the nice thing about making 5k per week plus incidentals is that you don't have to work all year to make a good living.

Mark