The job market is a volatile place and students may want to ask, “is the future promising for those obtaining a degree in psychology?” The training required to become a psychologist requires that future income, job growth, and the state of the industry must be weighed. Some industries are seeing a tough time recovering after the recession while other industries are seeing appreciable growth.
Expected Growth for Psychologists
Psychology is an area where there is the promise of employment and growth in the next decade. The Bureau of Labor Statistics tracks and predicts the number of jobs that might become available for industries and jobs, and the news is positive for future psychologists. Numbers suggest that there will be at least 18,700 psychologist jobs added to the economy from 2012 to 2022.
That number represents around 12 percent growth of the profession, which is in line with the overall economy and how many jobs the BLS expects will be added in the next decade. There may also be other opportunities for people with degrees in psychology as studying human behavior is a skill needed in jobs beyond that of a psychologist.
The American Psychological Association (APA) says that psychology jobs are adaptable and reach into many different industries, which facilitates healthy job opportunity. The APA also offers specialty certifications in 13 different areas of psychology, which may prove useful when looking for high-paying work.
Probable Cost of Training
One of the factors that influence the viability of a psychology job is the amount of money it takes to become one. The majority of psychologists working in clinical or counseling environments need to have a doctoral degree. This means that the full timeline of study may require time in undergraduate school as well as time in a graduate or doctoral program.
In addition, psychologists must often undergo official training to become certified or licensed within the state they wish to work. Licensure tends to require a certain number of credits completed in graduate school, an internship, or a residency program. Although the training might seem long to become a psychologist, board certification with the APA is not absolutely required and may be obtained during a career rather than before it.
Income Potential for Psychologists
One of the attractive features of becoming a psychologist is the potential income to be earned once training and certification are complete. The average income for all occupations in the United States is $24,750, but psychologists can earn around twice that at a median salary of $69,280.
In addition, this salary may head upward toward a median of $90,020 when specialty certifications and experience are introduced. General school psychologists may earn around $67,650 a year while psychologists in major organizations or in research facilities have even more earning potential.
Overall, the healthcare industry is one of the fastest growing segments of the economy. Longer life spans and widespread acceptance of mental health techniques has created a pattern of growth for psychologists and mental health professionals. The answer to, “is the future promising for those obtaining a degree in psychology” is yes because of the positive job growth expected, as well as the healthy salary potential of the profession.