Psychologist Salary Guide and Career Outlook

The psychologist salary in the United States, Canada, and New Zealand is approximately $72,000 dollars in their respective currencies. Income in Australia is only slightly below this amount. The salary in South Africa is the equivalent to $18,000 dollars.

There are multiple factors that impact someone’s potential salary in a psychologist career. For psychologists, experience has a moderate impact on salary. Other factors are industry, skills, and geographic location. This article will cover these aspects and describe the impact of their salaries.

psychologist taking notes with patient in the background

How Much Does a Psychologist Make per Year by Country?

The data included in the table below is from Payscale. Possible psychologist salaries to research further are the hourly wages in India and New Zealand based on low reporting numbers. The wage in India was estimated based on the annual salary, while in New Zealand only five people responded to the survey.

Psychologist Salary US Canada UK Australia New Zealand India South Africa
Hourly Pay $40.00 C$44.00 ($33.47) E18.90 ($20.06) AU$40.00 ($29.94) NZ$23.00 ($16.34) Rs 144.46* ($2.12) R321.00 ($23.76)
Annual Pay $72,805 C$76,667 ($58,312) E30,631 ($32,510) AU$68,524 ($51,290) NZ$71,370 ($50,715) Rs 358,200 ($5,256) R253,865 ($18,789)

* This amount is estimated based on the annual pay.

Psychologist Salary Influencing Factors

Payscale provides all of the data showing the respective averages and ranges for the psychologist salary by respective country. In addition, bonuses, commissions, and profit shares are included when available.

1. Location

How Much Does a Psychologist Make in the US?

Psychologists in the United States will earn an annual salary from $44,326 to $110,978 dollars. On top of the base salary, these professionals can expect bonuses up to $10,000, profit sharing of around $4,000, and a commission of $16,000. The hourly rate is highly variable from $14.86 to $147.63. The total salary is $42,142 to $125,276 dollars.

How Much Does a Psychologist Make in Canada?

The median psychologist salary in Canada ranges from C$48,983 to C$122,303 annually. Those professionals who report an hourly rate will earn from C$25.17 to C$102.56. For those who have to work overtime, the rate is C$45.50. A bonus is not a guarantee, but it is reported as up to C$12,365. The comprehensive salary is C$49,550 to C$149,163 dollars.

How Much Does a Psychologist Make in the UK?

The 10th percentile of psychologists in the United Kingdom make E17,002 while the 90th percentile makes E60,708. In addition to the base, a bonus of up to E14,681 could be received. The hourly rate is E17,002 to E60,708. The per annum salary is E17,664 to E69,043.

How Much Does a Psychologist Make in Australia?

A psychologist career in Australia will garner wages between AU$28.44 and AU$100.81 an hour. Overtime compensation is AU$75.00. From an annual perspective, the salary is between AU$48,621 and AU$96,710 dollars. The highest reported bonus on Payscale is AU$10,090. A total take home pay of AU$50,130 to AU$123,079 is earned by these professionals.

How Much Does a Psychologist Make in New Zealand?

Psychologists in New Zealand earn anywhere from NA$42,450 to NZ$86,753 annually. The base salary is NZ$55,248 to NZ$87,246. A marginal bonus of $2,000 is earned by some people. A small sample of five respondents reported an hourly rate of NZ$24.00 dollars.

How Much Does a Psychologist Make in India?

Psychologists who work in India see a salary of Rs 144,966 to Rs 893,964. Their bonus ranges from Rs 4,865 to Rs 102,710. An estimated hourly rate is Rs 69.69 to Rs 429.79. The income from their work as psychologists nets them Rs 146,501 to Rs 965,013 annually.

How Much Does a Psychologist Make in South Africa?

The hourly rate for psychologists in South Africa is R321.00 with an overtime rate of R109.00. The annual psychologist salary is R89,000 to R584,550. The maximum reported bonus is R193,916 with an average profit share of R7,500. As a matter of fact, the total pay for these professionals is R109,262 to R737,631.

2. Experience

Psychologists in New Zealand experienced modest growth based on experience from 8% below the median for entry level to 9% above for mid-career and 14% for experienced professionals. Australia and Canada see the reverse of each other. Australia has marginal growth in salary for those with 10-20 years of experience compared to those with more than 20 years of experience. Canada sees small growth between those who are new to the profession and those who have less than five years of experience.

South Africa and the United Kingdom show a sharp increase for experienced professionals with a swing of 367% in South Africa and 64% in the United Kingdom. Psychologists in the United States see a 15% increase for each stage of career advancement.

3. Industry

Psychology is one of those fields that has professionals employed in industry, in research, in government, and in education. The vast majority of psychologists are clinical, counseling, or school psychologists. The highest paying fields for clinical and school psychologists are in child day care services and specialty hospitals. These professionals make $106,510 and $90,980, respectively. The highest levels of employment are in elementary and secondary schools.

Industrial and organizational psychologists who work for architectural, enterprise management and scientific management earn the highest salary. The average salary for these positions is slightly above $100,000 dollars. Scientific management, scientific research, and state government hire the greatest number of psychologists.

Highly valued skills are experience with clinical psychology and counseling, forensic psychology, and assessment.

Schedule & Working Hours

Many psychologists in the United States are self-employed. However, there are also psychologists who work for research clinics, schools, or industry. Self-employed psychologists can set their own schedule. They may work in the evenings and weekends to accommodate their clients’ schedules.

Psychologists who work in health care such as hospitals will also work evening and weekend hours. These professionals will work full-time. Those who work in schools or research institutions will work during the times that the business or school is open.

Bonuses & Benefits

Self-employed psychologists have the benefit of working when they want to. Generally, as psychologists gain more experience and advance in their career they see more benefits. These benefits can be seen in increasing flexibility and bonuses for good work.

In all countries, it is a good idea to join professional societies to gain access to the benefits of networking, training opportunities, and leadership roles. For example, in Australia, psychologists should join the Australian Psychological Society.

The following chart shows the health care benefits by country. This data is self-reported by individuals to Payscale.

Country United States Canada United Kingdom Australia New Zealand India South Africa
Medical 74 68 35 12 21 33 63
Dental 55 57 15 5 7 14
Vision 46 54 15 4 7 16
None 24 30 58 87 79 67 37

Career Outlook

Becoming a psychologist is a sound career choice. As healthcare increases the focus on holistic medicine, psychologists will be seen as a valuable resource to improve mental health. The field is expected to grow 19% by the year 2024. Pockets of the field will grow faster than other. For example, school psychologists will experience a higher growth than 19%.

Candidates who have a doctorate degree and experience with research will be a strong candidate in the job market. The industry psychologists work in a very niche field and thus only 400 job openings are expected. It is worth it to invest in the education to be a psychologist. However, the education is only worth it if you are going to pursue an advanced degree. Students who graduate with a bachelor’s degree in psychology may be able to work as a research assistant but will not be able to practice as a psychologist.

When looking at psychologists by gender the vast majority of psychologists are women. In New Zealand, South Africa, and India 88%, 83%, and 83% are women. While in Canada, the United States, and the United Kingdom approximately two out of every three psychologists is a woman.

Conclusion

The psychologist salary varies according to geographic location, industry, and skills. Psychologists around the world enjoy different bonuses and benefits that factor in their experience in the field. The career outlook shows a potential growth by 2024, making this job a sound choice in the health care department. If you’re interested in other health care jobs and salaries, check out the physician assistant salary guide.