Lovechopra

Is Psychologist really a money making career

Please help me understand how much money I can earn as a Psychologist and what will be career progression, how the growth would be year on year like?

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RE: Is Psychologist really a money making career

Apurva Kumar Pandya, PhD
Apurva Kumar Pandya, PhD
Verified Career Expert
Consulting Psychologist
  • Delhi

Dear Aspirant,

I am sorry for delayed response.

Well, there is no answer to your question. Income in psychology profession depends on your qualification, skills, professional competencies and kind of profession (Govt. job. service sector, corporate or private practice).

Psychologist in Govt sector (Class 2 officers) corporate sectors and private practicing earn decent income. There is no limit in income for competent private practitioners.

Career Progression:
In Private Practice
Trainee Psychologist
Freelance consultant/ Psychologist/Counselor

Govt. Hospital for Mental Health
Clinical Psychologist (Class 3)
Clinical Psychologist (Class 2)

Private Hospital
Consulting Psychologist
Clinical/Counseling Psychologist

Corporate Sector

There are no psychology specific job titles. Job titles can be related to HR, recruitment, training and development.

Educational Qualification:
MA/MSc
MPhil
PhD

To be a clinical psychologist, MPhil is must. For psychologist, masters is minimum education qualification in respective field and PhD is highly desirable.

If you have more queries, feel free to write back.

Best Wishes for your bright career,

Apurva Kumar Pandya, PhD

RE: Is Psychologist really a money making career

Dr. Anand Wadadekar, PhD
Dr. Anand Wadadekar, PhD

Dear Aspirant,

If you are comparing salaries and then thinking of making a career as a Psychologist, then you should avoid this field.

Money making career is only in books and theories.

However definitely you can earn a decent income which will depend on your qualifications, skills, experience.

If you get attached to a hospital, NGO, school, then you may get a steady income.

Best wishes

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