How much do therapists make with a masters degree

By on July 10, 2020

Table of Contents Show

How Much Can I Make With a Psychology Degree?
Master's in Psychology Salary for Different Specialities
Salary Feature
About Counseling Psychology
What Jobs Does This Lead To?
Salary Prospects
Job Outlook
Can therapists make a lot of money?
What type of therapists get paid the most?
Is a Masters enough to be a therapist?
Is a counseling masters worth it?

The average psychologist salary is a crucial factor to consider for students considering a master's in psychology program. While a doctorate is needed for clinical, counseling, and research-based psychologist positions, master's graduates also gain access to several viable jobs. Among these are roles as school psychologists, industrial-organizational psychologists, and marriage and family therapists.

While an individual cannot call themselves a psychologist without a doctorate, they can work under the supervision of a licensed psychologist in roles such as psychological assistant. The kinds of jobs that master's graduates qualify for are more patient-involved and pay higher than jobs requiring only a bachelor's degree, as those who hold only a bachelor's do not possess the qualifications to take part in clinical work, even under supervision.

How Much Can I Make With a Psychology Degree?

One of the most commonly asked questions from prospective degree-seekers when considering a master's in psychology is "How much money can I make?" In short, the answer to this question depends on a variety of factors, including highest degree attained.

For those who pursue a doctorate and are employed as psychologists, the Bureau of Labor Statistics (BLS) reports a median annual wage of $80,370 in 2019. For those who graduate with their master's and don't continue on, PayScale reports average yearly wages of $60,725. Readers should note that salaries are self-reported on this website, with some careers not directly in the field of psychology.

When assessing a job offer, it's also important to remember that factors such as location, type of employer, amount of experience, and cost of living all affect the bottom line. Psychologists in San Francisco may make more than those living in Jackson, MS, but the cost of living is substantially lower in the second location.

Master's in Psychology Salary for Different Specialities

The field of psychology includes a large number of specialties, making it possible for professionals to build skills and experience in a variety of areas. Salaries can differ substantially based on the specialization chosen, making it important to research options prior to making a decision.

Sports Psychologist
Sports psychologists help athletes at every level and from every sport handle the mental pressures inherent to their sport. They can help them build coping strategies, improve focus, and maintain motivation. PayScale notes the average annual salary currently stands at $73,730.
Industrial-Organizational Psychologist
I-O psychologists work with companies of all sizes to help improve efficiency and effectiveness while also developing and maintaining employee satisfaction. They may work in-house or in a consulting role. Average salaries topped $92,880 in 2019, according to the BLS.
School Psychologist/Counselor
These professionals work in K-12 and college settings to help students address personal and academic concerns and overcome challenges as they arise. They may also work with family members. The BLS reports average earnings for 2019 were $57,040.
Forensic Psychologist
These professionals sit at the intersection of psychology, criminal justice, and the legal system. They often work within court systems, for law firms, or in other capacities to help assess the accused and the victim. The average salary according to PayScale is currently $69,514.
Addiction Counselor
Addiction counselors work with clients facing substance abuse issues who need professional assistance to overcome their addiction. These professionals create treatment plans, provide counseling, and work with other healthcare professionals to create a comprehensive plan. PayScale notes average annual salaries of $39,738.
Engineer Psychologist
Engineering psychologists concern themselves with how humans interact with machines and their environments. They are often involved in the design process and can work for a single company or consult with several. The average salaries for those with master's is $85,271, according to the American Psychological Association.

Studying towards and obtaining a Masters in Counseling Psychology can lead to a range of different careers. When studying towards your Master’s, you will need to choose a certain specialization, which will greatly determine which area you will be working in. Oftentimes, schools that offer degrees in counseling psychology will also offer degrees in social work or addiction therapy, for instance.

Salary Feature

According to the U.S. Bureau of Labor Statistics, the average salary for someone with a master’s in counseling psychology is $70,000. However, there are great variations depending on which geographical area you work in and the type of institution you work for. Additionally, salary will also grow if you take part in further training and gain more experience.

About Counseling Psychology

Counseling psychology is usually a two-year degree program that leads to either a Master of Arts or a Master of Science degree. With the degree, you will be able to counsel both groups and individuals. Depending on your school of choice, you can have a certain specialization, such as community counseling or addiction treatment. The degree will include some clinical training through hands-on experience, and you are also likely to have to complete a thesis or a capstone research project.

The curriculum of your course will include things such as research methods, group dynamics, assessment and interview techniques, laws that are applicable to the field of psychology and professional ethics. Usually, there is very little difference between the Master of Arts and the Master of Science and many schools offer both options. It is common, however, for the requirements for the Master of Arts to include a few less scientific skills, such as knowing a foreign language.

In terms of the clinical experience, it is likely that this will be the biggest focus of the overall program. Different schools will have different requirements in terms of the setting in which you can obtain this experience and in terms of how many hours you will have to spend on this program. It is likely that you will be encourage to work in places such as public schools, mental health hospitals, women’s shelters, prisons and court clinics.

What Jobs Does This Lead To?

There are many different jobs that you could become involved in as a counseling psychologist.

Family Therapy – According to the U.S. Bureau of Labor Statistics, family therapy is the most popular field of work. Here, your role will be to help people in crisis find a new balance in their life, and reopen the lines of communication between them.

Mental Health Therapy – You could also become involved in mental health therapy, which is another highly popular field of specialization. Here, you will assess the mental health of patients before designing and delivering treatment plans for them. In this position, you will hold records of the patients you treat, develop plans for intervention and prevention and create treatment strategies that are individual to each of the people you work with. Counseling psychologists also often work in schools. Here, they will address the mental health needs of students and ensure they are able to meet their educational goals. They will often work together with students’ parents as well as the various teachers in order to address the mental health needs of the student while still ensuring their educational attainment is as high as possible.

Substance Abuse and Behavioral Health – Choosing to work in substance abuse and behavioral health is another interesting option. There has been a tremendous increase in the number of addiction treatment centers and homeless shelters, where substance abuse is very common. Furthermore, you could work in outpatient clinics in hospitals, or you could be employed in a college or university.

Rehabilitation Counselor – You could also choose to work as a rehabilitation counselor. In this role, you are likely to be employed in hospitals or prisons, dealing with people whose mental health issues have led to incarceration.

The American Board of Professional Psychology can certify professionals who have completed a doctoral degree. They offer a number of different specialties, which include clinical psychology and counseling psychology. However, not all those who have a masters in counseling psychology will work on to achieve their doctorate degree. But all states have laws in place to regulate the type of work that someone with a degree in psychology (be that master’s or doctorate) is allowed to do.

Salary Prospects

There are great variations in salary depending on the type of counseling that you become involved in. On average, salaries are:

Between $33,780 and $57,800 for school counseling psychologists.
Between $31,300 and $$44,130 for substance abuse counselors.
Between $29,950 and $45,510 for mental health counselors.
Between $39,690 and $50,770 for marriage and family counselors. The top 10% earn $70,830 in this field.
Between $25,950 and $45,350 for rehabilitation counselors.
$72,540 for counseling psychologists with a doctorate degree.

Job Outlook

There is an expected growth of 12% by 2022 in the demand for counselors, particularly school, vocational and educational counselors. This is due in part to the fact that many current counselors are approaching retirement age. However, it is also because crisis intervention that is available on site is in higher demand, and because there is a greater awareness of attentional and behavioral disorders and how these affect educational attainment.

Growth in demand for substance abuse and behavioral health counseling is expected to be 31%. This is due to the fact that there is greater understanding about addiction being a disease rather than a criminal act. This means there is a greater need for treatment as well.

There is also a significant growth expected in mental health counseling. The U.S. Bureau of Labor Statistics says growth will be 29%. This is mainly due to the fact that mental health counselors can work in many different settings. Marriage and family therapy is expected to see the same growth.

For rehabilitation counselors, growth is expected to be 20%. This is much higher than the national average for most other professions too. This expected growth is mainly due to an aging workforce and greater links between health care professionals and mental healthcare professionals.

References:

http://www.mastersincounseling.org/whats-your-average-salary-with-a-masters-in-counseling.html
http://www.bls.gov
http://psychology.about.com/od/careersinpsychology/tp/highest-paying-psychology-careers.htm
http://education-portal.com/articles/Salary_and_Career_Overview_for_a_Masters_in_Counseling_Psychology.html
http://www1.salary.com/Counseling-Psychologist-Higher-Ed-salary.html

Can therapists make a lot of money?

How Much Do Therapists Make A Year? According to the Bureau of Labor Statistics psychologists can expect to make a median annual salary of $79,010 a year. The lower 10% of this same demographic can make around $43,800 a year, and the highest 10% can make as much as $129,250 a year.

What type of therapists get paid the most?

Psychiatrist positions are by far the highest-paying jobs for psychology majors. The average salary is $217,798, according to PayScale. A psychiatrist should be licensed as a board-certified psychologist.

Is a Masters enough to be a therapist?

For most therapist specialties, such as clinical mental health counseling or clinical social work, the minimum education needed is a master's degree. You might consider one of these master's degrees: Master's degree in counseling: Learn how to provide mental health counseling to a range of clients.

Is a counseling masters worth it?

Yes, a masters in mental health counseling is worth it for many students. The Bureau of Labor Statistics is projecting 12% job growth in community and social service occupations over the next 10 years, much faster than the average for all occupations.