Could I work in a hospital setting with adolescents in a psychiatric-related field with a master's degree? Would I be respected, or is a PsyD / phd required for this?
Basically there is no "respect" in mental health, relative to cardiothoracic surgery.
If you're referring to being able to do some specific work task, see below
What kind of "work"?
You can "work" in a hospital with a high school diploma (e.g., behavioral technician, transpo, cook, etc).
If you're referring to performing psychotherapy in a psychiatric hospital, then you could do that with a MA in counseling. However, LCSWs are more commonplace in that setting.
If you're referring to performing diagnostic evaluations, or admitting, then you'd need a doctoral degree (e.g., PhD, PsyD, MD).
You could work with adolescents in a hospital with a bachelor's degree or even as a college intern. What exactly are you trying to do? What kind of hospital? Boston Children's or random state psychiatric hospital?