Money Magazine - Psychologist #10 Best Job - $66K

This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.

positivepsych

Member
10+ Year Member
7+ Year Member
15+ Year Member
Joined
Nov 25, 2005
Messages
331
Reaction score
1
Being a psychologist was voted #10 best job according to Money Magazine:

http://money.cnn.com/magazines/moneymag/bestjobs/snapshots/10.html

Psychologist
Rank: 10 of 50

GRADES: Stress: C / Flexibility: B / Creativity: A / Difficulty: C

Average pay: $66,359

Salary Total compensation (w/bonus)

75% in this career make more than: $56,217 $57,197
50% in this career make more than: $64,384 $65,296
25% in this career make more than: $74,444 $75,052
Top potential compensation (5% make more): $103,247

10-year job growth: 19.14%
Total jobs 2004: 166,688
Forecast 2014: 198,598
Average annual growth (including new jobs and net replacement): 6,830

Career description
Diagnose and treat mental disorders; learning disabilities; and cognitive, behavioral, and emotional problems using individual, child, family, and group therapies. May design and implement behavior modification programs.

Members don't see this ad.
 
????

http://money.cnn.com/magazines/moneymag/bestjobs/snapshots/155.html




MONEY Magazine and Salary.com rate careers on salary and job prospects.

Psychologists
Rank: Unranked. See top 50 best jobs.





Average pay: $77,734
Salary Total compensation
(includes bonus)
75% in this career make more than: $52,244 $54,030
50% in this career make more than: $75,834 $80,651
25% in this career make more than: $90,264 $97,558
Top potential compensation (5% make more): $121,916



10-year job growth: 9.89%
Total jobs 2004: 9,830
Forecast 2014: 10,802
Average annual growth (including new jobs and net replacement): 306



Career description
All psychologists not listed separately. Ex. Psychologist, Social
 
The data that you posted refers to 'all psychologists not already listed' (e.g. clinical psychologists). My post refers to licensed psychologists I believe while your data is referring to all other psychologists (e.g. social, I/O, etc.)
 
Members don't see this ad :)
I think that these got one thing wrong. The difficulty rating: C????? I don't think they get it. Difficulty only sucks if the job is uniteresting, if it is interesting it is a benefit. They rate creativity high, so it must be interesting. If so then a high difficulty rating shouldn't be a low grade but a high one. And it would better be thought of as challenging.
 
Psyclops said:
I think that these got one thing wrong. The difficulty rating: C????? I don't think they get it. Difficulty only sucks if the job is uniteresting, if it is interesting it is a benefit. They rate creativity high, so it must be interesting. If so then a high difficulty rating shouldn't be a low grade but a high one. And it would better be thought of as challenging.

My interpretation of their 'difficulty' was mostly regarding the difficulty of GETTING the job (e.g. education you have to attain, competitiveness). See 'mental health counselor' (#38) [which excludes psychologist, psychiatrists, and social workers], got a "B" in difficulty, despite having a "D" in stress. While a dentist got a "D" in difficulty, and a "B" in stress.
 
I have been blessed to be accepted into a clinical psychology program. By all accounts, I should not have been accepted. Everything in my background was perfect, except my GREs, which were around 1100. I was accepted by my top choices.

However, as I have posted elsewhere on this board, I am in my early 30s and a lawyer making gobs of money. I am not proud of that either. Golden handcuffs. Making that money is painful. I feel every dollar. Ironically, I don't even work that hard anymore. I have pretty regular hours, but lots of stress, billing hours in 10 minute increments, and it is soooooooo boring, i can't even describe it. Law school was the first time I ever hated school. So, for those of you who are envious of your buddies going to law or MBA programs, just know that. I don't know many lawyers who like their jobs -some tolerate it, a few like it, but very few. They are generally DA's or public interest lawyers making in the 30s-40s or power-driven, drama freaks that are trial lawyers or introverted, unsociable, control freaks who make great transactional lawyers.

Anyway, I have seriously contemplated not going to a Ph.D. program this year. I have started making these deals with myself...you can just do this until you are 45 and then do something you want, no it won't be psychology, but something else. You can just live for your expensive vacations, the weekends, your child's nanny...just like your friends do. My friends go to France, Indonesia, Micronesia, all of these crazy places for weeks at a time, drive BMWs and Mercedes, have 500K houses at 30 years old, and they can live with their deal. Why can't I? Why? And everyone on this board compares everything to doctors. My immediate supervisor, a partner at large law firm in his early 50s, makes $1M a year. My other supervisor is in her early 40s and she makes around $550K or so. In general, if you go to a big law firm, you can make more than most doctors will ever see with only 3 years of grad school. But you have to be in it for the $ and I am clearly not going to make it.

This Money magazine article completely has thrown me for a loop. I know that I want to be a clinicical practioner primarily, but I want the research training because I believe it is important to the validity of my profession. However, I read everywhere that this degree is obsolete. Although my personal experience has always been that people will pay a therapist out of pocket where they won't pay a psychiatrist, I here so much negativity. But I have seen so much evidence to the contrary....Many of my lawyer friends, despite HIPAA's protections, don't want any type of record out there that they went to see a therapist. My Dad says liking his therapist is more important since his MD just gives him pills and spend 30 minutes every 4 months with him - he just wants her to be covered. I know a handful of therapists who are extremely successful that have NEVER been on any managed care panels. I know others that are all doom and gloom because they rely on managed care. So, I just don't know what to make of it.

It is like jumping off a cliff for me. I would be going backwards. The only way it is worth it if I could actually enjoy grad school, the internship, and the profession. If I can make remotely close to what I make now at any point, then that is enough. I have just went down the wrong path once, and I don't want to do it again. I guess its because this time, I have something to lose. When I went to law school, I was 21 and didn't have any other options. I am almost a partner at a law firm now and barely 30. I hate my job and have wanted to do this for 10 years, but maybe it is just too late.

:scared:
 
coloradocutter said:
I have been blessed to be accepted into a clinical psychology program. By all accounts, I should not have been accepted. Everything in my background was perfect, except my GREs, which were around 1100. I was accepted by my top choices.

However, as I have posted elsewhere on this board, I am in my early 30s and a lawyer making gobs of money. I am not proud of that either. Golden handcuffs. Making that money is painful. I feel every dollar. Ironically, I don't even work that hard anymore. I have pretty regular hours, but lots of stress, billing hours in 10 minute increments, and it is soooooooo boring, i can't even describe it. Law school was the first time I ever hated school. So, for those of you who are envious of your buddies going to law or MBA programs, just know that. I don't know many lawyers who like their jobs -some tolerate it, a few like it, but very few. They are generally DA's or public interest lawyers making in the 30s-40s or power-driven, drama freaks that are trial lawyers or introverted, unsociable, control freaks who make great transactional lawyers.

Anyway, I have seriously contemplated not going to a Ph.D. program this year. I have started making these deals with myself...you can just do this until you are 45 and then do something you want, no it won't be psychology, but something else. You can just live for your expensive vacations, the weekends, your child's nanny...just like your friends do. My friends go to France, Indonesia, Micronesia, all of these crazy places for weeks at a time, drive BMWs and Mercedes, have 500K houses at 30 years old, and they can live with their deal. Why can't I? Why? And everyone on this board compares everything to doctors. My immediate supervisor, a partner at large law firm in his early 50s, makes $1M a year. My other supervisor is in her early 40s and she makes around $550K or so. In general, if you go to a big law firm, you can make more than most doctors will ever see with only 3 years of grad school. But you have to be in it for the $ and I am clearly not going to make it.

This Money magazine article completely has thrown me for a loop. I know that I want to be a clinicical practioner primarily, but I want the research training because I believe it is important to the validity of my profession. However, I read everywhere that this degree is obsolete. Although my personal experience has always been that people will pay a therapist out of pocket where they won't pay a psychiatrist, I here so much negativity. But I have seen so much evidence to the contrary....Many of my lawyer friends, despite HIPAA's protections, don't want any type of record out there that they went to see a therapist. My Dad says liking his therapist is more important since his MD just gives him pills and spend 30 minutes every 4 months with him - he just wants her to be covered. I know a handful of therapists who are extremely successful that have NEVER been on any managed care panels. I know others that are all doom and gloom because they rely on managed care. So, I just don't know what to make of it.

It is like jumping off a cliff for me. I would be going backwards. The only way it is worth it if I could actually enjoy grad school, the internship, and the profession. If I can make remotely close to what I make now at any point, then that is enough. I have just went down the wrong path once, and I don't want to do it again. I guess its because this time, I have something to lose. When I went to law school, I was 21 and didn't have any other options. I am almost a partner at a law firm now and barely 30. I hate my job and have wanted to do this for 10 years, but maybe it is just too late.

:scared:

Perhaps you need to peel off a few Jacksons and see a therapist with one of those obsolete degrees.
 
coloradocutter said:
I have been blessed to be accepted into a clinical psychology program. By all accounts, I should not have been accepted. Everything in my background was perfect, except my GREs, which were around 1100. I was accepted by my top choices.

However, as I have posted elsewhere on this board, I am in my early 30s and a lawyer making gobs of money. I am not proud of that either. Golden handcuffs. Making that money is painful. I feel every dollar. Ironically, I don't even work that hard anymore. I have pretty regular hours, but lots of stress, billing hours in 10 minute increments, and it is soooooooo boring, i can't even describe it. Law school was the first time I ever hated school. So, for those of you who are envious of your buddies going to law or MBA programs, just know that. I don't know many lawyers who like their jobs -some tolerate it, a few like it, but very few. They are generally DA's or public interest lawyers making in the 30s-40s or power-driven, drama freaks that are trial lawyers or introverted, unsociable, control freaks who make great transactional lawyers.

Anyway, I have seriously contemplated not going to a Ph.D. program this year. I have started making these deals with myself...you can just do this until you are 45 and then do something you want, no it won't be psychology, but something else. You can just live for your expensive vacations, the weekends, your child's nanny...just like your friends do. My friends go to France, Indonesia, Micronesia, all of these crazy places for weeks at a time, drive BMWs and Mercedes, have 500K houses at 30 years old, and they can live with their deal. Why can't I? Why? And everyone on this board compares everything to doctors. My immediate supervisor, a partner at large law firm in his early 50s, makes $1M a year. My other supervisor is in her early 40s and she makes around $550K or so. In general, if you go to a big law firm, you can make more than most doctors will ever see with only 3 years of grad school. But you have to be in it for the $ and I am clearly not going to make it.

This Money magazine article completely has thrown me for a loop. I know that I want to be a clinicical practioner primarily, but I want the research training because I believe it is important to the validity of my profession. However, I read everywhere that this degree is obsolete. Although my personal experience has always been that people will pay a therapist out of pocket where they won't pay a psychiatrist, I here so much negativity. But I have seen so much evidence to the contrary....Many of my lawyer friends, despite HIPAA's protections, don't want any type of record out there that they went to see a therapist. My Dad says liking his therapist is more important since his MD just gives him pills and spend 30 minutes every 4 months with him - he just wants her to be covered. I know a handful of therapists who are extremely successful that have NEVER been on any managed care panels. I know others that are all doom and gloom because they rely on managed care. So, I just don't know what to make of it.

It is like jumping off a cliff for me. I would be going backwards. The only way it is worth it if I could actually enjoy grad school, the internship, and the profession. If I can make remotely close to what I make now at any point, then that is enough. I have just went down the wrong path once, and I don't want to do it again. I guess its because this time, I have something to lose. When I went to law school, I was 21 and didn't have any other options. I am almost a partner at a law firm now and barely 30. I hate my job and have wanted to do this for 10 years, but maybe it is just too late.

:scared:

I don't really understand what your concern is in that long post. Making money? There's very little chance you're going to make "remotely close to what you make now" as a corporate lawyer. Most things in life are about tradeoffs, maybe the satisfaction of the job as a psychologist will be worth more to you than the lack of big money, maybe not.

I've always thought that all jobs have their own stresses and difficulties (psychology included), its just that a job that you see as your passion and calling allows you to put up with the stresses better.

I try not to judge people too much by the lives they choose to lead, I understand the golden handcuffs when you need to pay a mortgage, send your kids to school, etc. However, I do recommend you read Po Bronson's "What Should I Do With My Life?" I found it helpful in thinking about these sorts of questions.
 
I also have a hard time understanding what you are getting at CC. Is this just a form of catharsis? What program have you been accepted to? Is it a PhD program? If so, are you still considering not going? You should make up your mind soon and tell them. One way of increasing psychologists salary would be to get rid of the professional schools. That would lower the market saturation. One reason certain specialities of MDs make so much money is that there are so few of them (e.g., child psychiatry).
 
Top