Career salaries are simply a function of supply versus demand. It is important to view your career prospects in this light in order to best gauge where a particular career is heading. In the case of psychology careers (psychologists, counselors, social workers, etc.), there is little to worry about.
The need of workers in the psychology fields have correlated strongly with the advancing education of our entire country. As United States citizens become more educated, an understanding of the value of psychological knowledge in all industries becomes more clear.
For example, when more individuals who suffer from addiction and substance abuse learn about the psychological aspects of their illnesses, they are more likely to seek the help of a counselor.
In addition, as companies learn more about the benefits of creating a better work environment for employees to improve morale and motivation in the workplace, demand for industrial and organizational psychologists increases.
The underlying theme is as larger populations begin to understand how a knowledge of psychology can help better lives, better learning environments or increase production, the demand for highly educated individuals in specialized fields of psychology increases along with their value.
Below are a few examples of psychology career salaries and basic career information researched by the Bureau of Labor Statistics :
- The median salary for psychologists in May 2014 was $89,810
- The top 10% of psychologists earned more than $120,670 in May 2014
- Psychologist employment is projected to grow 12 percent from 2012 to 2022
- Rising health care costs are creating a larger demand for prevention and treatment counseling
- A growing number of elderly will demand more psychologists to help with aging mental counseling
- Returning veterans will require a large demand from psychologists in the coming years
- Those with specialized doctoral degrees will be able to demand the largest salaries in this industry
Social Workers Salary
- The median salary for social workers in May 2014 was $58,410
- The top 10% of social workers averaged a salary of $84,630
- Employment in the social working field is expected to grow 19 percent from 2012 to 2022
- Social worker employed with Federal Executive Branch earned the most with a median annual salary of $72,020.
Marriage and Family Therapists
- The median salary for marriage and family therapists in May 2014 was $51,730
- The marriage and family therapists working with state governments earned a median annual wage of $67,380
- Top 10% therapists made more than $78,920 in May 2014.
- In 2012, there were estimated to be 166,300 mental health counselors and marriage and family therapists working in the United States
- Employment for mental health counselors and marriage and family therapists is expected to grow by 29% (much faster than average) during 2012 to 2022
- The median salary for counselors in May 2014 was $47,240
- The counselors working in Elementary and Secondary Schools earned a median annual wage of $60,500
- Top 10% of Educational, Guidance, School, and Vocational Counselors made more than $86,610 in May 2014.
- Counselors who establish a private practice often see much larger salaries as a function of years in the field
- In 2012, there were estimated to be 262,300 school & career counselors working in the United States
- Employment growth is expected to be 12% during 2012 to 2022
- Counselors with specialized master's or doctoral degrees will enjoy the luxury of higher salaries