Top 5 Highest Paying Psychology Jobs

Top 5 Highest Paying Psychology Jobs

Highest Paying Psychology Jobs

According to the British newspaper the Telegraph, Psychology is one of the most popular college courses nowadays. The degree comes in two forms: a BA (Bachelor of Arts) which focuses on psychological function and human behavior, and a BS (Bachelor of Science), which covers the biological and biochemical foundations of mental behavior and function.

And if you decide to go with the flow and take Psychology – whether BA or BS– you will be glad to know that this

discipline offers some of the heftiest careers in the planet. Despite the millions of other budding Psychologists out there, you can get your parents’ money’s worth (or your own if you applied for financial aid) by pursuing any of these top 5 highest-paying Psychology jobs:

1) Child Psychiatrist

Taking the top spot of all Psychology jobs is Child Psychiatry, which hauls in an average of about CAD 208,000 ever year. This career deals with the treatment of mental, behavioral and emotional ailments in children aging 2 to 15 years old.

A Child Psychiatrist does not only treat his patient with meds and therapy, he acts as advocate for his client as well. He works with other professionals within the educational or judiciary system in order to provide the best treatment to his juvenile ward.

To become a Child Psychiatrist, you will need not only a bachelor’s degree, but a medical degree as well. After this, you need to undergo residency training for four years. Fellowship is optional, although it is recommended for those who wish to focus on research, treatments or certain diseases.

Licensing is also required, and this can be taken by passing the United States Medical Licensing Exam.

Although the road to Child Psychiatry is long and winding, your hard work will surely be repaid handsomely once

you become a professional Child Psychiatrist. After all, the aforementioned salary is just the average. Those who work in physician’s offices can make as much as CAD 174,000, while those who work in outpatient clinics can rake in as much as CAD 206,000 every year.

Because Child Psychiatrists are doctors by profession, they have the power to prescribe medication to their young patients.

2) Engineering Psychologist

A new field of psychology, Engineering Psychology deals with the study of human capacity and behavior towards new technology.  It also deals with product design, and covers the methodologies used to enhance equipment and system design and operation.

Because of the influx of novel machineries nowadays, the demand for Engineering Psychologists are exponentially growing – so much so that the median salary of these professionals are one of the highest at CAD 119,000 per year.

As an Engineering Psychologist, you are responsible for improving worker productivity and decreasing the instances of work-related injury. In some cases, it is your job to study the effects of nuclear weapons or aviation technology to everyday life.

As with other top-paying Psychology jobs, there are certain tranches that offer bigger compensation. For example, Engineering Psychologists employed in the private sector receive better remuneration compared to those working for universities and other institutions.

To become an Engineering Psychologist, you need to finish a Bachelor’s degree in Psychology, followed by a Doctorate degree in Engineering Psychology or Human Factors Psychology. Those with Master’s degrees can venture into the field as well, although they receive lower compensation compared to their Ph.D. counterparts.

3) Industrial-Organizational Psychologist

In a world where business is king, Industrial-Organizational Psychologists are needed in order to create (and maintain) an efficient and lucrative business. These psychology professionals help make businesses better in so many ways.

For one, they help companies in screening the best employees who will run the corporation. After screening, they administer tests that can help improve worker performance and efficiency.

Apart from employee screening and testing, Industrial-Organizational Psychologists also help enhance productivity in the workplace. They enforce policies, and conduct research surveys that can help solve workplace issues. Organizational analysis and development are also included in this Psychologist’s daily work life.

If you decide to become an Industrial-Organizational Psychologist, you can expect a hefty paycheck. After all, you are helping a company make the most out of its earning potential. Industrial-Organizational Psychologists can take home as much as CAD 112,000 per year. The pay is substantially better for Ph.D. holders, of course, as it can hike up to CAD 219,000 annually. Masteral students only start with a mere CAD 44,000, which is comparably better compared to most jobs.

Apart from a big paycheck, another great thing that comes with Industrial-Organizational Psychology is the wealth of specializations you can delve in. For one, you can venture into Healthcare, where you can improve the delivery of care. As for Marketing and Sales, you can help an establishment understand customer habits and idiosyncrasies. Another field to go to is Human Resources, where you can improve the effectiveness of an organization.

4) Neuropsychologist

If you are interested in the comprehensive study of the brain, then a career in Neuropsychology is best for you. In this line of study, you get to study how different people learn and absorb information.

As a Neuropsychologist, it is your role to assess people with brain disorders/injuries, conduct brain scans and perform cognitive exams. Neuropsychologists also study how drugs affect the brain.

A Bachelor’s degree in Psychology is a stepping stone for budding Neuropsychologists. However, if you want to receive the average median salary for Neuropsychologists (CAD 99,000 per year,) you need to gear up for a doctorate degree in Neuropsychology or Clinical Neuropsychology.

Neuropsychologists are employed in numerous settings, including hospitals, research laboratories, pharmaceutical companies and universities. However, if you want to get top pay, it is best if you work for the federal government.

5) Clinical Psychologist

Clinical Psychology holds the biggest number of employment opportunities for the discipline. As the most popular specialization, it continues to be one of the top-paying jobs for aspiring psychologists.

Clinical Psychology deals with the valuation, diagnosis, therapy and medication of individuals with mental disorders. These professionals can be found in mental health clinics and hospitals, while some venture into private practice.

To become a Clinical Psychologist, you need not only a Bachelor’s degree in Psychology, but a doctorate degree as well. In several states, a state license and supervised residency training (1-2 years in duration) are also required.

The average pay for Clinical Psychologists is CAD 95,000, although it can go upper or lower depending on one’s job experience. For example, clinicians who have been dabbling with Psychology for a decade or more can receive as much as CAD 109,000 a year, while neophytes – or Clinical Psychologists for 5 years or less – only get about 59,000 yearly.

Relevant Links:

1. Best Psychology Programs in Canada – Part 1

2. Best Psychology Programs For Clinical Psychology 

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