Organizational Psychology Salary: What You’ll Earn
Find out what you could earn as an industrial-organizational psychologist.
The salary range for psychologists can vary widely based on a variety of factors, including years of experience in the field, where you live, and the location and size of the company or organization you work for. Type of company (profit or non-profit?) may come into play as well.
Below are some points of comparison for psychologists in different fields of psychology so you can see how a career in industrial-organizational psychology stacks up salary-wise.
As you can see, regardless of where you work, the earning potential in this helping profession is quite healthy.
Median Annual Salary
Organizational psychology offers great pay potential, and an encouraging job market, despite the small size of the field. Here are salaries, job growth, and state median pay.
Median Salary: $105,310
Projected job growth: 2.2%
10th Percentile: $63,750
25th Percentile: $79,590
75th Percentile: $135,070
90th Percentile: $168,300
Projected job growth: 2.2%
|State||Median Salary||Bottom 10%||Top 10%|
Source: U.S. Bureau of Labor Statistics (BLS) 2021 median salary; projected job growth through 2030. Actual salaries vary depending on location, level of education, years of experience, work environment, and other factors. Salaries may differ even more for those who are self-employed or work part time.
What is my earning potential?
Salaries for industrial-organizational psychologists can be lucrative, with the BLS reporting that the top 10% earned more than $168,300. As with every career, experience plays an enormous factor in salary.
How does an organizational psychologist salary compare to other psychology careers?
Psychologists tend to make a good salary. Compare the median salaries below, broken out by specialty.
|Career||Median Annual Salary|
|Clinical and Counseling Psychologists||$82,510|
|Psychologists, All Other||$102,900|
Source: U.S. Bureau of Labor Statistics 2021 Occupational Employment Statistics
What kinds of companies hire organizational psychologists?
Often, people in this career field will work as independent contractors and consultants. According to the BLS, industrial-organizational psychologists are most frequently employed by the following types of industries:
- Scientific research and development
- Colleges and universities
- State governments
Industrial-Organizational Psychology Salaries by Employer Type
Different industries also tend to pay their workers more or less. Compare the salaries of I/O psychologist in the top-paying industries.
|Employer Type||Median Wage|
|Scientific Research and Development||$122,660|
|Colleges and Universities||$110,070|
Is there demand for this career?
Demand for industrial-organizational psychologists will increase as more and more organizations and companies acknowledge and require their services to help hire and retain employees. I/O psychologists will also be relied upon to increase productivity in the workplace by identifying potential improvement areas.
What is the job growth for the field?
Employment of psychologists is expected to grow 8%, which is on par for all occupations through 2030, while I/O psychologists can also expect an 8% job growth rate for the same time frame. This is right on the national average for all careers. Do note, though, that national long-term projections of employment growth may not reflect local and/or short-term economic or job conditions, and do not guarantee actual job growth.
Competition will be tough for graduates of I/O psychology until the field widens and job opportunities arise. The BLS reports that since the occupation is still small, competition may be fierce for the most desirable jobs. There will also be heavy competition due to the large number of qualified graduates coming out of universities and colleges.
How do I advance in my organizational psychology career?
Graduates with a master’s degree can find entry directly into the field as an industrial-organizational psychologist, but the U.S. Bureau of Labor Statistics suggests that getting extensively trained in quantitative research methods or computer science may provide the competitive edge you’ll need to actually land a position in the field. Too, earning a PhD or PsyD in I/O psychology can better prepare you for academic and research roles. To learn more about the education required for industrial-organizational psychologists, research your options, select your program and talk to a school of your choice today.