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What is the average salary of a psychologist?

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Michael’s Answer

There are many types of psychologists, and the salary varies by type and experience. Clinical Psychology is the highest paid, and I am a neuropsychologist, and they can do a bit better, financially. It also varies by location. A licensed clinical psychologist will start at around $80,000, and you pretty quickly get into six figures. $120,000 is quite doable after a few years. You can look this up on salary.com for your location, and note the different types make different money. Another way to look at it is the Federal Government calls a clinical psychologist a GS-13, and you can look at that salary table for your area. Remember, your degree must be APA approved to get the maximum value for your effort.
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Deborah’s Answer

Salary also depends on the setting in which you work. A non-profit agency will be toward the lower end of the salary range, although there may be other benefits or perks that help to compensate for the lower salary. Hospitals tend to pay more. Working in private practice is the most lucrative, however there are none of the non-salary financial benefits one would have from an employer (paid leave, health insurance, etc.).

Rather than thinking only of salary, it is important to think of other financial benefits that comprise the total compensation package. Better benefits, might compensate for a lower salary and the value of the overall compensation package might be greater.
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Dan’s Answer

Psychologist do not go through medical school, they are not physicians and mainly do therapy or research. They may have a doctorate in psychology but not in medicine. Psychologist do not get paid like physicians unless they work in a high paying area and are business savy.

PsyCHIAtrist on the other hand, go through medial school, they are physicians and prescribe medications. Their pay is that of a physicians -- note that salary pends on specialty as well as how many hours you're working and area.
Thank you comment icon Thanks for your advise Dan! Samyukta
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