According to the most recent data available (2023), psychology degrees pay off most strongly at the doctoral level.
- Salaries of individuals with psychology degrees in the United States vary widely, with those who have advanced degrees tending to earn more.1,2
- The median annual salaries of psychology bachelor’s, master’s, and doctoral and professional degree holders in 2023 were $60,000, $72,000, and $110,000, respectively.2
- About 36% of bachelor’s degree holders earned at least $72,000, the median salary of master’s degree holders.
- About 14% of bachelor’s degree holders and 16% of master’s degree holders earned at least $110,000, the median salary for doctoral or professional degree holders.
- About 3% of bachelor’s degree holders, 1% of master’s degree holders, and 7% of doctoral degree holders earned more than $200,000 per year.
