Why psychologists salaries are lower than other professionals

[ClinicalPHD5]

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In May 2008, the median annual wages of all wage-and-salaried lawyers were $110,590

Median annual wages of salaried general dentists were $142,870 in May 2008.

Median annual wages of wage and salary pharmacists in May 2008 were $106,410.

In 2008, physicians practicing primary care had total median annual compensation of $186,044, and physicians practicing in medical specialties earned total median annual compensation of $339,738.

For psychologists the median is $64,000 in May 2008.



These medians are much higher in particular states. For example, in New York and California the salaries would be higher for each profession but the income disparity remains for psychologists!

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[Therapist4Chnge]

Where psychology gets screwed is in the mean/median/mode $'s. The top quartile is fine, it's everyone else that feels the pinch. I'm not overly concerned for myself because I went in with my eyes open, but I'd have strong reservations if friends wanted to go into the field now and had thoughts of making an easy 6-figures.

 

[O Gurl]

I have always been puzzled by the reported median salaries for psychologists. I have not and do not currently lived in a high-priced, ritzy area (NYC, Miami, Beverly Hills). Still, to the best of my knowledge, none of the clinical psychologists I have encountered throughout my training make as little as 64K. Stats like this would be far more meaningful if it was presented by specialty, employment setting, degree type (PhD, PsyD, clinical, counseling, school, etc), region, etc.

 

[DrGero]

64K is practically poverty wages for where I live (Bay Area). But for where I did my postdoc (upstate NY), it would be a reasonably comfortable middle-class salary. It's relative.

 

[Savagebee]

I cant help but wonder if they are including the masters level people or something.

I look at a lot of job postings, and worked in mental health for 5 years, I never knew any psychologists making under 70k.
I live in one of the lowest cost of living areas in the country.

I know numerous masters level people making 60k on the upper end, with an average starting pay around 40k

 

[O Gurl]

^Exactlly. My experiences have been very similar to Savagebee. I've typically seen master's level (mainly LCSWs) postings between 40K-60K and psychologists somewhere between 70K and the low-100K's. While this certainly is a far cry from medical doctors and dentists, it is also a far cry from a median of 64K. I'm skeptical.

 

[AcronymAllergy]

^Exactlly. My experiences have been very similar to Savagebee. I've typically seen master's level (mainly LCSWs) postings between 40K-60K and psychologists somewhere between 70K and the low-100K's. While this certainly is a far cry from medical doctors and dentists, it is also a far cry from a median of 64K. I'm skeptical.

I'm guessing it's being brought down by formal and informal post-doc salaries and the occasional $40k/year psychologist/LCSW position that you'll see mentioned (with an alarmed/incredulous tone) on these forums...?

Although yeah, given that master's-level practitioners can identify themselves as "school psychologists" in many states, I'd imagine they're also being included in these numbers.

 

[airmont]

My thought: The National Compensation Survey methodology (see http://www.bls.gov/opub/hom/pdf/homch8.pdf) selects their sample from the population of establishments included in state unemployment insurance reports. This population might excludes many psychlogists who are self-employed, work in small orgnaizations, or non-profits that many not be included in state reports.

 

[edieb]

I am so confused by posts on this board as they don't seem to reflect the reality I am seeing.

I work at a V.A. Medical Center in a Texas urban area. Psychologists move from GS-12 ($69000) to GS-13 (81,000) and then start a VERY slow assent (around 14 years long) to $101,000. This is pretty much in line with the $64000 the stat that was quoted, especially when you consider the federal government pays more than the private sector.

Jon Snow stated his approximate salary once and, forgive me if I am wrong, but it is around $100K. However, he lives in Chicago, so that is actually fairly low, especially if you factor in the years he was out of the workforce. If you have a family, that is very low for Chicago.

DrGero also lives in a high priced area and has immense student loan debt (per his posts). Therefore, relatively speaking, his adjusted salary falls in line with the stat posted.

You just can't say I make $100,000 and take that figure at face value. You have to figure in the years we were out of the workforce not earning money, the cities you live, student loan debt, etc. I think we do a huge misservice to others reading the board when we act like we make X but do not inform them of other variables that moderate this figure...

 

[DrGero]

DrGero also lives in a high priced area and has immense student loan debt (per his posts). Therefore, relatively speaking, his adjusted salary falls in line with the stat posted.

Well, I wouldn't call it "immense," I'd call it "substantial." I pay out about 6K of loan payments per year, which sucks, but it's affordable. However, there are students graduating from my program today looking at yearly payments 2-4 times that, and no guarantee they'll land the kind of position I did.

But what is true is that 100K in the Bay Area doesn't get you nearly as far as it would in, say, upstate New York, or the Pacific Northwest (two areas I'm familiar with). The tax burden here in California sucks, and the level of public services you get in return is embarassing and getting worse. One reason why my wife and I are actively applying for positions in Oregon. Anyways.

 

[Savagebee]

I work with an LPC that makes 45k a year in rural OK (pretty good, fyi) and also works doing anger management groups through a womens shelter.
He makes 20k at the shelter job and only has to add in two evenings a week for that.

I have a juvie rehab place down the road. I once inquired about bach level jobs and was told they didnt have any, but if I knew someone with a masters they would pay $50/hour on contract.

The money seems to be made on the side, while the reg ft job is for benefits and solidarity

Thats my plan anyways

 

[Therapist4Chnge]

The money seems to be made on the side, while the reg ft job is for benefits and solidarity

Given the ridiculous costs associated with medical insurance, this is a popular avenue for many people. I hope to eventually find time for some side work, as not being reliant on cash pay patients for the primary income allows more flexibility in trying to build a cash pay practice.