how to make money with a bachelors in psychology,Understanding the Psychology Degree
Understanding the Psychology Degree
Your bachelor’s degree in psychology opens up a world of opportunities. It’s a versatile degree that can lead to various career paths, each with its unique way of making money.
1. Clinical Psychology
One of the most direct routes is becoming a clinical psychologist. You can work in private practice, hospitals, or clinics. According to the Bureau of Labor Statistics (BLS), the median annual wage for clinical, counseling, and school psychologists was $84,020 in May 2020.
| Year | Median Annual Wage |
|---|---|
| 2020 | $84,020 |
| 2019 | $82,180 |
| 2018 | $81,330 |
2. Research and Academia
Another option is to work in research or academia. This could involve working for universities, government agencies, or private research firms. According to Glassdoor, the average salary for a research psychologist is around $70,000 per year.
3. Human Resources and Business
Psychology degrees are also highly valued in the human resources and business sectors. You could work as an HR manager, organizational psychologist, or business consultant. The BLS reports that HR managers earned a median annual wage of $121,220 in May 2020.
4. Marketing and Advertising
Understanding human behavior is crucial in marketing and advertising. You could work as a market research analyst, advertising copywriter, or even a UX/UI designer. According to Glassdoor, the average salary for a market research analyst is around $63,000 per year.
5. Counseling and Therapy
Many psychology graduates choose to become counselors or therapists. This could involve working with individuals, families, or groups. The BLS reports that the median annual wage for mental health counselors was $47,980 in May 2020.
6. Non-Profit Organizations
Psychology degrees are also valuable in non-profit organizations. You could work as a program manager, grant writer, or even a director of a mental health program. According to PayScale, the average salary for a program manager in a non-profit organization is around $60,000 per year.
7. Freelancing and Consulting
With your psychology degree, you can also offer your services as a freelancer or consultant. This could involve working with individuals, businesses, or organizations. The pay for freelancers and consultants can vary widely, but it’s not uncommon to earn between $50,000 and $100,000 per year.
8. Online Courses and Workshops
Finally, you could create and sell online courses or conduct workshops. This requires a bit of creativity and marketing skills, but it can be a lucrative way to share your knowledge and expertise. According to Udemy, the average revenue per course is around $2,000.
Remember, the key to making money with a psychology degree is to leverage your unique skills and interests. Whether you choose to work in clinical psychology, research, or business, there are numerous ways to turn your degree into a profitable career.
