A person who is considering a master’s or doctorate degree in psychology may want to know, “How much do organizational psychologists make?” An organizational psychologist is a sub-type of psychology, and these professionals focus on large businesses and nonprofit organizations. Knowing what their salary range is could help a person decide if this is an area of specialty that they would like to practice.
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Current Wage Statistics for Organizational Psychologists
The Bureau of Labor Statistics (BLS) collects earnings and employment data for all occupations in the United States. Their information shows that the mean hourly wage for an organizational psychologist $52.42 as of November 2019. This yields an annual salary of about $109,030. These numbers are based on the salaries of 780 people or employers who reported their employment as an organizational psychologist. The lowest 10 percent of earners have an hourly wage of $24.69, the 25th percentile have an average hourly wage of $29.78, the 75th percentile is $66.43, and the 90th percentile is $92.38. The median wage for organizational psychologists is $46.76. This is the point at which half of the earners are below and half of the earners are above.
Pay Based on the Industry of Employment
Organizational psychologists who work in the scientific research and development services industry have the highest average hourly wage, which is $72.01, and 230 people report working in this industry of employment. The next-highest paying industry of employment for organizational psychologists is in the management of companies, with an average hourly wage of $53.49. Those who work in technical consulting earn an average of $45.90 per hour and those employed at colleges and universities earn an average of $33.83 per hour. The lowest-paying industry of employment is state government, where they earn an average of $32.02 per hour.
Salary By Location of Employment
According to the Burea of Labor Statistics, the salaries of organizational psychologists also vary by city and state of employment. There is not enough data from all states to calculate average hourly pay. However, of the states that report at least five people working in this occupation, the highest paying ones are California, Virginia, New Jersey, Minnesota, and Pennsylvania. The cities with the highest-paid organizational psychologists include Washington, D.C., Boston and Minneapolis.
Other Factors That Go Into an Organizational Psychologist’s Salary
The more years of experience that an organizational psychologist has, the higher their average salary. An organizational psychologist with a doctorate degree may also command a higher level of pay. Those who bring in research dollars through publishing peer-reviewed articles from their work may also have a higher pay level. Organizational psychologists who work for themselves or act as consultants may work more hours or be able to charge a higher hourly fee.
Examining the salary of an organizational psychologist by years of experience, geographic location and industry of employment give a person an idea of what to expect in a job offer. It is also important to consider the cost of living in the place where a person will work or reside because large cities tend to have a higher cost of living compared to rural areas of the same state. Understanding the answer to, “How much do organizational psychologists make?” could also help a person identify whether or not a salary offer is fair.