Is a Master’s in Psychology Worth It?

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

  • 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.

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

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

  • Junior Colleges and Universities: Those who have a master’s in psychology are able to acquire certain jobs at junior colleges and universities. For instance, you can take on jobs such as career counselors, academic advisors, as well as academic recruiters, among other positions.
  • Local, State, and Federal Government Jobs: Additionally, some other potential master’s degree in psychology jobs involve working for various levels of the 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, and more. 
  • Healthcare and Mental Health Services: Another great answer to the question, what can I do with a master’s in psychology, is working in healthcare or mental health services. 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, and more. 
  • Sales, Business, and Marketing: Other great sectors to search for a master’s in psychology jobs are sales, business, and marketing. For instance, you could work in positions such as store manager, human resources manager, market researcher, employee trainer, public relations representative, and more. 

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:

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  • 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. 

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