Is a Masters in Psychology Worth It?

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A Master’s degree in Psychology is a highly valuable asset for those who are looking to pursue a career in the field. Your career path is much broader than with a bachelor’s degree. Whether you’re interested in becoming a clinical psychologist, research psychologist, or counselor, having an advanced graduate degree can give you the knowledge and skills needed to excel in your chosen profession. Psychology is a popular college major, but how much education do you need for these higher levels of career?

A Master’s degree in Psychology provides students with the opportunity to deepen their understanding of human behavior and mental processes. With this degree, students learn about psychological theory and gain an understanding of how to apply psychology theories to different situations. Additionally, they will gain insight into how people think and behave and how this knowledge can be used to help others. This type of education also provides students with valuable research skills that they can use throughout their careers.

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What are the Benefits of a Master’s in Psychology?

If you are wondering if earning a master’s degree in psychology is worth it, you should start by reviewing the following benefits of a master’s program:

  • Boost Earning Potential: One of the greatest benefits of getting a master’s in psychology online degree will allow you to boost your earning potential. While the average psychology professional with an undergraduate degree makes approximately $33,000 annually, those who acquire a master’s degree earn an average of $64,000 annually. This means that pursuing a master’s in psychology is a great idea for anyone looking to boost their earning potential.
  • Greater Job Prospects: Additionally, earning a master’s in psychology will allow you to create greater job prospects. Given that the field of psychology has been steadily increasing in recent years, those who obtain master’s degrees will greatly improve their ability to secure higher-paying positions. Although there are many promising career paths for those who work in psychology, in general, those who obtain a master’s degree or higher have even greater options for employment.
  • Challenges and Rewards: If you enjoy working in a challenging field that is also rewarding, earning a master’s degree in psychology is an excellent option. Given that the field can be so unpredictable, each day provides professionals with a fresh chance to sharpen their skill sets. Additionally, given that the nature of psychology is closely correlated with helping people to change their lives for the better, there are also plenty of rewards for entering this field.
  • Freelance Work: Another major benefit of acquiring a master’s degree in psychology is that they can allow you to work as a freelance professional. This means that you would be essentially self-employed and be able to work wherever you are needed. This also makes it possible for you to set your own schedule as well as your own rates.

Types of Master’s Degrees and Programs Available

Pursuing a master’s degree program is an opportunity to gain more advanced knowledge in a particular field and can open up many career opportunities. There are a variety of different types of master’s degrees available, from psychology to business, each with its own set of requirements and benefits. Understanding the differences between the various types of master’s degrees can help you make an informed decision about which program is right for you.

Master’s degrees in psychology are a great way to further your education and gain specialized knowledge in the field of psychology. With a wide range of degree options available, there is something for everyone. Some of the most popular include:

  • clinical and counseling psychology
  • educational psychology
  • industrial-organizational psychology
  • social psychology

Clinical and counseling psychology are the two main branches of psychology that focus on providing psychological services to individuals, families, and groups. They are based on evidence-based research and practice to treat mental health issues such as anxiety, trauma, depression, addiction, and more. Clinical psychologists focus on diagnosis and treatment while counseling psychologists provide psychotherapy services to help people understand their behavior better. Both disciplines are important components of the mental health system and can help individuals achieve a higher level of functioning in life. Clinical psychology degree programs also prepare students for a doctoral degree.

Educational psychology is a field of study that focuses on the psychological aspects of learning and teaching. A master’s degree in educational psychology can help students gain an in-depth understanding of how people learn, develop, and interact with each other in educational settings. It also prepares them to become better educators by equipping them with the knowledge to create effective learning environments and strategies. With a master’s degree in educational psychology, graduates can pursue careers as school psychologists, guidance counselors, or education administrators.

Industrial-organizational psychology is a growing field that is becoming increasingly important in the workplace. With a master’s degree in industrial-organizational psychology, you can gain an understanding of how to apply psychological principles to the workplace. You will learn how to understand and analyze organizational behavior, develop strategies for improving team dynamics, and create effective organizational structures. You will also gain insight into the impact of technology on the workplace, as well as how to manage change within an organization. A master’s degree in industrial-organizational psychology provides you with the skills and knowledge necessary to become a successful leader in this field.

A Master’s Degree in Social Psychology is an advanced degree that provides students with the knowledge and skills to understand how people interact with one another and how social relationships influence behavior. This degree provides an in-depth understanding of the theories, research methods, and practical applications of social psychology. Students can use their knowledge to develop successful strategies for managing group dynamics, resolving conflicts, and promoting positive change in organizations. With a Master’s Degree in Social Psychology, graduates can pursue careers as researchers, consultants, or counselors in settings such as educational institutions, mental health facilities, or business organizations.

There are other specializations like engineering psychology, school psychology, cognitive psychology, and psychological research.

What Jobs Can You Get with a Master’s in Psychology?

If you are wondering what can you do with a masters in psychology degree, some of the master’s degrees in psychology jobs are as follows:

  • Junior Colleges and Universities: Having a master’s degree in psychology can open up a world of opportunities when it comes to teaching and counseling. With the education acquired through this degree, one can become career counselors, academic advisors, school counseling, or even professors at universities and junior colleges. These professionals are highly valuable in helping students explore their career options and make positive life decisions.
  • Local, State, and Federal Government Jobs:

One potential job option is working for various levels of the government. These jobs involve researching, analyzing, and developing policies that are relevant to the public health and safety of citizens. With experience in the field and a Master’s degree in Psychology, individuals can use their skills to make an impact on their local government. For instance, you may be able to work in positions such as

  • social service manager
  • parole officers
  • vocational rehabilitation specialist
  • self-reliance specialist
  • developmental specialist
  • drug and alcohol specialist
  • parole officer
  • employment counselor
  • marriage and family therapists
  • research assistant
  • Healthcare and Mental Health Services:

A master’s degree in psychology can open up numerous career opportunities in the field of healthcare and mental health services. With the right training and education, graduates with a master’s degree in psychology can use their knowledge to help those suffering from psychological issues or illnesses. From working as a psychologist, therapist, or social worker to providing support services for people with mental illness, there are a variety of ways that graduates with a master’s degree in psychology can make an impact on the lives of others.

If you are interested in these fields, you can take on positions such as

  • childcare supervisor
  • behavioral counselor
  • health project coordinator
  • group home coordinator
  • rehabilitation specialist
  • family services worker
  • Sales, Business, and Marketing:

With a master’s in psychology, you can open the door to an exciting and lucrative career in business, sales, or marketing. With the right qualifications, you can make an impact on these industries and help organizations understand consumer behavior. With the knowledge gained from your master’s degree, you can develop creative solutions for companies to better understand their customers and drive sales.

For instance, you could work in positions such as

  • sales manager
  • human resources manager
  • market researcher
  • employee trainer
  • public relations representative

What are Some Masters in Psychology Jobs and Salaries?

If you are seeking information on the salary for a master’s in psychology, some examples are as follows:

  • Psychiatrist: One of the highest paying fields in psychology, although salaries can vary drastically, the average psychiatrist makes around $216,090 annually.
  • Industrial-Organization Psychiatrist: Although many people who acquire these positions have a doctorate’s degree, those who earn a master’s degree can acquire these positions as well. The average salary for an industrial-organization psychiatrist is $102,530.
  • Clinical Psychologist: Although most psychologists are required to have a doctorate’s degree, some allow those who have master’s degrees in psychology to take on these positions at an entry-level. Either way, these positions pay an average of $81,330 per year.
  • Engineering Psychologist: Another great entry-level position for those with a master’s in psychology is an engineering psychologist. These positions offer an average salary of  $79,818 per year.
  • Sports Psychologist: This wide-ranging field has a vast level of earning on potential. On the one hand, the starting salary for master’s in psychology in this field is around $55,000. However, most people working in this field earn between $60,000 to $80,000 per year. Moreover, those who opt to work with celebrities and other public figures can make up to six figures annually. 

According to the Bureau of Labor Statistics, professionals with graduate degrees make much more than those with bachelor’s.

Those who are already in the field may benefit from an online master’s degree psychology program. Online psychology programs make further education more accessible to working professionals. Research focused online programs may require a research project that students can do in their current career.

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Aya Andrews


Aya Andrews is a passionate educator and mother of two, with a diverse background that has shaped her approach to teaching and learning. Born in Metro Manila, she now calls San Diego home and is proud to be a Filipino-American. Aya earned her Masters degree in Education from San Diego State University, where she focused on developing innovative teaching methods to engage and inspire students.

Prior to her work in education, Aya spent several years as a continuing education consultant for KPMG, where she honed her skills in project management and client relations. She brings this same level of professionalism and expertise to her work as an educator, where she is committed to helping each of her students achieve their full potential.

In addition to her work as an educator, Aya is a devoted mother who is passionate about creating a nurturing and supportive home environment for her children. She is an active member of her community, volunteering her time and resources to support local schools and organizations. Aya is also an avid traveler, and loves to explore new cultures and cuisines with her family.

With a deep commitment to education and a passion for helping others succeed, Aya is a true inspiration to those around her. Her dedication to her craft, her community, and her family is a testament to her unwavering commitment to excellence in all aspects of her life.

Find your perfect value college is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.

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