How much money do psychologists make? Is graduate school really worth it, financially speaking?
On average in the United States, psychologists earn $80,000. If this is the career you’re aiming for, then graduate school is a necessity. Even if you’re not looking to become a psychologist, there’s still overwhelming evidence that for the average person, your salary will be higher with some type of graduate degree than none at all. However, graduate school costs many so it’s really up to the individual to do a cost-benefit analysis to see if it’s right for them.
In general, almost any kind of graduate school can be worth it as long as you don’t amass huge amounts of debt along the way. Study after study shows that, on average, people who go to graduate school make slightly more money over the course of their lives than those who do not. If you’re curious about how much money you’ll be making if you go into the field, check out the results of this APA salary survey.
