How Much Do Licensed Psychologists Make?
Having a clear understanding of earnings potential is important, especially if you are researching career paths or considering changing jobs. If you're one of those people, and you're curious what kind of salary licensed psychologists make, you've come to the right place.
Using data from Lightcast,™ the Best Adult Colleges and Careers Guide has compiled rich information about salary for licensed psychologists and related jobs, including details about average compensation, salary trends and job growth. We've also gathered advertised salaries from actual job postings to provide insight into what employers of licensed psychologists are offering as compensation.
Keep reading to learn more about how much licensed psychologists can expect to make in the United States.
At a Glance: Salary & Jobs for Licensed Psychologists
According to data from 2023, there were about 74,995 positions for licensed psychologists in the United States. In terms of salary, the national median salary for licensed psychologists was reported to be $96,096. Additionally, when examining job demand, employers across the country posted 87,005 job postings related to positions for licensed psychologists.
How Much Money Do Licensed Psychologists Make?
Median salary is just one data point. To build a better understanding of how much money licensed psychologists and related positions can expect to make in the United States, it can be helpful to look at the full range of compensation for those jobs.
Let's look more deeply at data that was reported to the U.S. Bureau of Labor Statistics (BLS) for detail into the lowest and highest salary earnings for licensed psychologists.
Annual Salary for Licensed Psychologists
According to the BLS, the lowest earners for licensed psychologists and related professions earned about $48,818 per year in 2023. Meanwhile, at the other end of the spectrum, the highest earners made about $168,875 annually.
As mentioned previously, the median salary for licensed psychologists in the United States in 2023 was $96,096.
Annual Salary Range For Licensed Psychologists In 2023
Hourly Salary for Licensed Psychologists
The BLS also breaks down compensation for licensed psychologists by hourly salary, and the median average hourly pay for licensed psychologists in 2023 was $46. Lowest hourly earners took home $23 while the highest reported hourly salaries for licensed psychologists was $81.
Hourly Salary Range For Licensed Psychologists In 2023
Advertised Compensation for Licensed Psychologists
Data from the BLS is one way to dig into compensation for licensed psychologists, but another way to build a more real-time understanding of salary is to look at actual job postings and see what compensation organizations are currently providing to fill open positions for licensed psychologists.
Keep in mind that salary data is not included in every job posting, so the information compiled here is reflective of the data available through Lightcast.™
Annual Salary from Job Postings for Licensed Psychologists
Advertised Annual Salary
During a review of 29,656 job postings related to licensed psychologists, advertised salary was included in 16,715 of them, which was 56%. Based on those postings, the median advertised salary for licensed psychologists was $120,704 per year.
Hourly Salary from Job Postings for Licensed Psychologists
Advertised Hourly Salary
A similar analysis of job postings provides insight into advertised hourly salary for licensed psychologists. Based on 19% of postings with advertised compensation, the median hourly salary for open positions for licensed psychologists in the United States is about $58.
Salary Trend for Licensed Psychologists
If you're thinking about pursuing a career in the field, you may want to understand how compensation has changed over time for licensed psychologists. The chart below provides a snapshot of advertised salaries over the past three years.
Based on compensation data that was included in job postings for licensed psychologists dating back to September 2020, advertised salaries for licensed psychologists have increased 15%.
Advertised Wage Trend For Licensed Psychologists
What's the Job Growth for Licensed Psychologists?
Another data point that someone thinking about a career path should consider is whether or not jobs are expected to see growth in the future. The chart below looks at projected employment for licensed psychologists over the next 10 years.
According to the data obtained through Lightcast,™ there were 74,927 jobs for licensed psychologists in the United States in 2023. By 2033, it is expected that about 13,344 jobs will be added. That's a 17.8% increase over the next 10-year period.
Employment Projections For Licensed Psychologists
Additional Links
Ready to dig deeper into career information about licensed psychologists? Visit our other pages focused on salary and education for licensed psychologists.
What do licensed psychologists do?
Licensed Psychologists: How do you become one?
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The Best Adult Colleges and Careers Guide has compiled data for dozens of in-demand jobs. Explore our full catalog of occupation data by visiting the link below.