Should I aim for PsyD or PhD programs?

[gi11gi]

I'm a sophomore psychology student, so there's still time for me to figure things out but I want to be as competitive as possible so I want to make sure I'm thinking through all my options. I know this question has been asked quite a few times, and most lean towards PhD, but there are some things about PhDs that have me leaning towards PsyDs.

I'm really lucky that cost isn't as big of a burden to me because I'm on track to have a 150k scholarship for grad school, that can go towards any school for four years. Cost seems to be one of the biggest things people consider when it comes to considering PhDs over PsyDs considering the vast majority of PhDs are funded.

The length of time I take to finish my degree is also important because I want to get out into the workforce as soon as possible to earn and save money because I ideally want to have children in my early thirties. Considering on average, according to the internet, PsyD programs take an average 4-6 years, and Phds 5-8 years, I'm leaning more towards a shorter program.

I've seen less information on this, so any information would be really helpful, but salary is also a concern. Is there a dramatic salary difference between PsyDs and PhDs? Or does it depend on what I choose to do with my degree/how competitive I am (ex: how good of a school I go to and what my resume looks like) and factors that would be more dependent on me over the degree?

Another huge factor is how competitive PhD programs seem to be in comparison to PsyD programs. The sub 5% acceptance rates and extensive research experience that PhDs seem to require is extremely intimidating to me. I'm a good student, but I feel like the difference between "good student" and "clinical psychology PhD" level student seems to be a lot.

Overall, my goals with a doctorate level clinical psychology degree would be to do clinical work (I've seen evaluations can be really lucrative) and potentially trauma-focused private practice. I also envision primarily doing telehealth given I want to have children later on, but I've seen that there're a lot of people with either degree that can do that.

Thank you in advance for any help and advice you can give!

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[summerbabe]

I'm really lucky that cost isn't as big of a burden to me because I'm on track to have a 150k scholarship for grad school, that can go towards any school for four years. Cost seems to be one of the biggest things people consider when it comes to considering PhDs over PsyDs considering the vast majority of PhDs are funded.

The length of time I take to finish my degree is also important because I want to get out into the workforce as soon as possible to earn and save money because I ideally want to have children in my early thirties. Considering on average, according to the internet, PsyD programs take an average 4-6 years, and Phds 5-8 years, I'm leaning more towards a shorter program.

Congrats on having that scholarship. The sad thing about for profit PsyDs is that while $150k is a huge amount of money, it plays differently in this space. Take the PGSP PsyD tuition/fees (which is at the high end):

Years 1-3: $60k x 3 = $180000
4th year (if you're on track to focus on dissertation): $45k
Internship year: $15k

So assuming you can complete your schooling requirements in 4 years and be on internship in your 5th year, you've already blown way through your scholarship budget. And we haven't factored in a single living expense or if you're delayed and need to tack on a 5th year. There are cheaper programs in lower cost of living areas but your scholarship budget may not go as far as one would think.

As a VA psychologist who reviews internship applications for a program that receives multiple PGSP candidates each year, anybody applying in their 4th year will be less competitive than somebody applying their 5th year due to lower hours and more gaps in training. The structure and more rigid expectations of most PhD programs mean that those students applying in year 4 will usually be more competitive.

I've personally not seen huge differences in how long training takes for a quality student when it comes to PsyD vs PhD. But it's definitely a bigger financial burden if you're in a PsyD.

Is there a dramatic salary difference between PsyDs and PhDs?

If you're working an institutional job (VA, local hospital system, federal prison), the pay should be the same. Insurance reimbursement should also be the same.

Some places may have hiring preferences for PhDs (if the people running the program have PhDs, you're in an area with lots diploma mill PsyDs who give a bad rep for the field, etc). But honestly, most people don't care too much about degree or program if you're competent.

In private practice, you can charge whenever you like and the market will decide. So a clinical social worker with better niche, networking and marketing can make more hourly than a psychologist.

Overall, I would encourage you to get plugged into clinical research right now as an undergrad, which is needed anyways for doctoral training in psychology regardless of degree route.

Plus, your scholarship could potentially make you more competitive for PhDs if it can offset certain costs depending on how those funds distribute. And some PhD programs are not fully funded so they are less competitive but perhaps a better option for you than other students. Good luck!

 

[PsyNeuro37]

I'd say focus less on the actual degree and more on program outcomes. APA internship match rate, attrition, median length of program completion, EPPP pass rate, cohort size, and licensure rate are all more important than the specific degree. All of this is publically available, with all but EPPP pass rate being required for programs to report on their website. A good program (Ph.D. or Psy.D.) will functionally look very similar in training. I second what was said above about getting involved in psychology research asap. It is by far the best thing you can do to help your application, for both Ph.D. and Psy.D. programs.

As for salary, Ph.D. vs Psy.D. won't matter too much. Ph.D. earned more on average than Psy.D. in the last APA salary survey, but I wonder how much of that was moderated by Psy.D. graduates likely pursuing loan forgiveness jobs at a likely higher rate. The specialty and setting within psychology that you practice is going to be much more predictive of income, as well as the geographic region you live in like most jobs.