phd psychology worth it

Is a Ph.D. in Psychology Worth it – (Pros VS. Cons)

There’s no doubt that getting a Ph.D. in Psychology can be a valuable investment. Studying psychology that can lead to many interesting and fulfilling careers. But is a Ph.D. in psychology worth it? This article will cover what you need to know before making your decision. We will talk about 25 reasons why a Ph.D. in psychology is worth it and also 7 reasons why it may not be the right degree for you. This article is not meant to dictate what you should do, but to provide you with the information to make an informed choice.

What is a Ph.D. in Psychology Degree?

How long does a ph.d. in psychology degree take, how much does a ph.d. in psychology degree cost, what are the admission requirements for a ph.d. in psychology degree.

• A master’s degree, not necessarily in psychology. In some cases, a bachelor’s degree is also acceptable. • A GPA of at least 3.0 • Letters of recommendation • A letter of intent • Graduate Record Examination (GRE) • A Resume

Is a Ph.D. in Psychology Worth It? – the Pros

Reason #1: a ph.d. in psychology can provide you with the opportunity to teach at the college level., reason #2: a ph.d. in psychology can give you a greater understanding of human behavior and mental processes., reason #3: a ph.d. in psychology can help lead to careers in research., reason #4: a ph.d. in psychology can give you the chance to work with different ethnic and racial groups, reason #5: a ph.d. in psychology can lead to a career in public health., reason #6: a ph.d. in psychology can help you start your own business., reason #7: a ph.d. in psychology can help you become a voice for social and political change., reason #8: a ph.d. in psychology can lead to opportunities to take leadership positions in prominent psychology organizations., reason #9: a ph.d. in psychology can make you less vulnerable to job loss during economic downturns., reason #10: a ph.d. in psychology can lead to a career working with children., reason #11: a ph.d. in psychology may lead to opportunities to meet and collaborate with thought leaders in the field of psychology through networking events., reason #12: a ph.d. in psychology can lead to a corporate career as an industrial-organizational psychologist., reason #13: a ph.d. in psychology can lead to a career in forensics., reason #14: a ph.d. in psychology can allow you to help people with drug addiction., reason #15: a ph.d. in psychology can help you develop stellar communication skills., reason #16: a ph.d. in psychology can lead to a career in sports psychology., reason #17: a ph.d. in psychology can lead to a lucrative marketing career., reason #18: a ph.d. in psychology can help you become an administrator at colleges and universities., reason #19: a ph.d. in psychology can lead to a career in the military., reason #20: a ph.d. in psychology can prepare you for a career in social work., reason #21: a ph.d. in psychology can help you become an environmental psychologist., reason #22: a ph.d. in psychology can make you a credible writer on psychology-related topics., reason #23: a ph.d. in psychology can lead to a career as a neuropsychologist., reason #24: a ph.d. in psychology can give you the skills to help people discover their dream careers., reason #25: a ph.d. in psychology allows you to work in correctional settings., why a ph.d. in psychology may not be worth it for you – the cons, reason #1: it takes a long time to complete a ph.d. in psychology., reason #2: a ph.d. in psychology can be an expensive degree to pursue., reason #3: it’s possible to lose income while pursuing your ph.d. in psychology., reason #4: you may lose time with family and friends., reason #5: finding an internship or residency can be difficult., reason #6: you may have to publish in psychology journals often., reason #7: if your goal is to be a psychology professor, you may find a lot of competition., what are the 3 main reasons behind the demand for ph.d. in psychology degree holders, 1. many industries perceive people with a ph.d. in psychology as top experts., 2. there is increased accessibility to healthcare services, including services from psychologists., 3. the mental health needs of people have accelerated due to the pandemic and other recent events in today’s world., what is the average salary for ph.d. in psychology degree holders.

What are the 3 Best Jobs You Can Get With a Ph.D. in Psychology Degree?

1. professor:, 2. research psychologist:, 3. psychologist in private practice:, bonus 3 tips to make more money with a ph.d. in psychology degree, 1. specialize in a high-demand area:, 2. get experience in the private sector:, 3. start your own business:, is a ph.d. in psychology worth it for you – my final thoughts, frequently asked questions answered, 1. what is the best age to do a ph.d. in psychology degree, 2. how hard is it to get into a ph.d. in psychology degree program, 3. is the gre required for those wishing to pursue a ph.d. in psychology degree, 4. do i need work experience to get into a ph.d. in psychology degree program, 5. what is the minimum gpa to get into a ph.d. in psychology degree program, 6. can i get into a ph.d. in psychology degree program with a low gpa, 7. are online ph.d. in psychology degree programs worth it, 8. are scholarships and grants available for ph.d. in psychology degree programs, 9. can ph.d. in psychology, students have a life, 10. can i work part-time and successfully complete the ph.d. in psychology degree program, 11. can i work full-time and successfully complete the ph.d. in psychology degree program, 12. do students fail in ph.d. in psychology degree programs, 13. will i ever regret getting a ph.d. in psychology degree, 14. how much does a ph.d. in psychology graduate make per hour.

16. Will Ph.D. In Psychology Graduates Be Paid Less In The Future?

17. are all ph.d. in psychology graduates successful in their careers, 18. are ph.d. in psychology graduates happy with their jobs, 19. can ph.d. in psychology degree holders become rich, 20. what are some ph.d. in psychology degree alternatives, 21. can i get a ph.d. in psychology without a masters in psychology, 22. what is the difference between a ph.d. in psychology and a psyd.

Amy Bucher, Ph.D.

Applied Behavioral Science for Health and Well-Being

Should I Get a PhD in Psychology?

Before I get started, keep in mind that PhD programs differ quite a bit between disciplines. If you’re thinking of getting a degree in engineering or English, your program might look a lot different from mine, so keep your grain of salt handy.

You might want to get a PhD in psychology if . . .

You want a job or career that requires a PhD. This one seems like a no-brainer, but not everyone thinks it through. In general, working as an academic in an R1 institution  (that is, a tenure-track professor role that includes both teaching and research) will require a PhD. It’s possible to get a college teaching job at a community college or liberal arts school with a master’s degree, although my guess is that this is getting increasingly competitive as PhD programs graduate new doctors faster than the academic job market can bear . Likewise, it’s possible to work in academic research (particularly in a lab manager or coordinator role) without a PhD, but these roles are not plentiful in the social sciences.

If you are interested in counseling psychology, it may not be necessary to get a PhD. PhDs in clinical psychology who receive their license (through additional training and internships) are qualified to counsel patients, but so are social workers (LMSWs), psychiatrists (MDs), and many other types of professionals. I’d recommend the PhD for someone who wants to counsel patients but is also interested in conducting and consuming research on mental health and treatment.

You can also use a PhD in psychology in a number of non-academic fields. I work in a blended role where I conduct and apply research on motivation and behavior change to health technology. Other psychologists I know work in market research and consumer insights, human resources data analytics, product development, and strategy consulting. A PhD in psychology typically comes with strong research design and analysis skills that can be creatively applied in a number of fields, although you may need to do some work to help others see that connection.

You are comfortable with intellectual uncertainty.  The more you know, the more you become aware of all you don’t know. A doctoral education is a fast way to figure out all of the many, many gaps in your knowledge. Being successful in graduate school requires getting comfortable with the idea that you will never know everything, that there is rarely an easy black-or-white answer to questions, and that your hardest work may not be in acquiring knowledge, but in sorting through it and organizing it. If you’re the type of person who loves puzzling through huge volumes of sometimes contradictory information, you will enjoy grad school more than someone who prefers just enough information to make a basically correct conclusion.

You love learning and sharing what you’ve learned.   This is a corollary to being comfortable with shades of gray. A colleague of mine once told me he can recognize people who have PhDs by their outlook when presented with a problem. He said, they’re the ones who will dive into researching and reading and figuring out the problem and want to discuss it and think about it.

You have a big but resilient ego.  On the one hand, it’s hard to make it through grad school if you don’t believe in your own intellectual abilities. It’s especially important to have a healthy ego because grad school also consists of being constantly beaten down. That sounds fun, doesn’t it? But in all seriousness, the volume of work required, the depth of feedback given, and the level of competition encountered in grad school all wear down on you over time. Add to that the many rejections and set-backs that everyone encounters during grad school, including paper and conference rejections, grades or exam scores below goal, and funding crises, and it takes a resilient soul to make it through. And it takes a big ego to keep submitting the next paper, exam, or grant application after the last rejection.

This is not to imply that grad school will not also make you more resilient. It will. You will learn a lot of strategies for coping with tough days and nights, and you’ll find enduring friendship in the trenches.

Some cautions . . .

If you want to be rich, a PhD is not a quick win.  You can definitely make a very nice living with a psychology PhD, in several different types of jobs. But grad school is expensive–even if you have a stipend to cover your costs, you will not be earning enough money to save, and you may additionally be acquiring loans. Because grad school living is so lean, I am glad I went right after my undergraduate, while I was still used to having no money (although I have friends who worked between undergrad and grad school and were glad to have some savings).

Many PhD programs include a master’s degree as part of their curriculum. I’ve met people who pursued a master’s degree as a way to test the waters for a PhD program. In general, I recommend against this. Many, if not all, PhD programs in psychology include a master’s degree as the conclusion of the first few years of coursework, and I’ve never heard of a program that lets someone skip those first few years based on a prior master’s. The people I know who tested the PhD waters by getting a master’s are now people with two master’s.

PhD programs take a while.  My grad school program, like many psychology PhD programs, was approximately five years long and included two years of coursework toward the master’s along with ongoing research requirements and at least four semesters of undergraduate teaching. Students pursuing a clinical license also have to do an internship on top of these other requirements.

People will be weird to you if you get a PhD in psychology.  First, if you get any PhD, some people will want to comment on your intelligence level (at least they assume it’s high!), which I find awkward. Second, if your PhD is in psychology, prepare for comments like:

• “Do you know what I’m thinking right now?” (Answer: No, that’s psychic, not psychologist.)
• “Are you psychoanalyzing me right now?” (Answer: No, I’m not that type of psychologist, but even if I were, I wouldn’t be doing my job for fun right now.)
• “So you must know everything that’s wrong with me.” (Response: Well, I know you don’t really know what a psychologist does.)

Joking aside, I think the PhD can intimidate people at times, so be prepared for those reactions and ready to either use them to your advantage or alleviate them with humor and humility.

It’s up to you.

Like I said, I can’t tell anyone whether a PhD in psychology is right for them. The decision has to be one you own. Grad school is hard and long, but also filled with many adventures and pockets of joy. I am so glad that I went and earned my PhD. I wouldn’t have my career and the opportunities it provides if I hadn’t, and I would never have met many of the people who are the most important in my life. If you want to take on this onerous journey, you have to really want it; but if you do, I promise you’ll have some good times on the way.

Related posts:

• How to Describe What I Know: The Appeal (and Frustration) of Psychology
• Careers in Psychology: To Counsel or Not?
• Career Options Outside Academia for Psychology PhDs
• Walking Away from Academia with a PhD in Psychology

4 thoughts on “ Should I Get a PhD in Psychology? ”

I’m in my last year of my undergrad in psych. In 27 and have 2 kids. I want to pursue a degree where I can do what I enjoy, and make money. I’m worried about another 7 years in school for a PhD and was told there isn’t much for me with a masters in clinical psychology. I had looked into LCSW, but was not sure if I would be content selling short my dream/goal. Can I counsel, and still do research with a masters? Or am I better with an LCSW?

Admittedly, clinical practice is not my area of expertise. However, I do know people who have counseled with an MA and I also know several people with LCSWs. Both seem like good options if you’re interested in the clinical piece.

I’m not sure about the research part–I’d imagine that depends on where you end up working as a counselor. In a university or health system setting, it seems to me that should be possible. The PhD does make research more feasible as it sets you up to run a lab (assuming you go into academia or a research-focused company).

I was very influenced by the idea that even if something takes a long time, that time will still pass and at the end of it you could have done the thing or not. There have been a few times it’s helped me make choices that seem like they take a lot of time and commitment.

I’m interested in what you decide! I am sure you will find a way to do what makes you happy while making money.

Hi Amy! Thank you so much for your posts. I’ve been STRUGGLING with the decision of whether or not to apply to graduate school for a PhD in Social Psychology. To be frank, I don’t feel qualified to apply and I’m unsure if my reasons for wanting to go to graduate school are good ones. I’m no longer an undergrad student so opportunities to work in a lab has been impossible without at least a Master’s.

A little bit about me: I graduated from undergrad in 2015. I did work as a research assistant for a couple of months, but I mainly invested my time working full-time to pay for school. I liked working in a lab but it was in Human Development & Nutrition, so I often found myself watching the dynamics and social interactions between the family members rather than watching what I was tasked to focus on (whoops). I graduated with decent grades (3.75) with two majors (Communication & Psychology) and a minor (Latin – I love languages). I have a lot of supervising and training work experience from my job, and I would like to continue working in a training/educational capacity (so not really interested in being in academia).

The reason I want to study Social Psychology at the Doctoral level is because I have SO many questions on topics like resilience & life stories. As a trainer & supervisor, I would witness people crumble and thrive in the face of obstacles and (as a person who has the tendency to crumble) I would wonder: “What do resilient people do differently? How can the way we view our life stories change how resilient we are in the face of life challenges? What about in the context of training for a new position? How can programs be created to take into account differing personalities and stories?” Another reason is because I’ve read so many personal development books but I couldn’t help but think: “This is nice but show me the research behind it. I want to see it tested and understand why it works.” Not really sure if those are good enough reasons to apply.

Overall, I want to be able to take research on resilience and make it more applicable and accessible. I want to create workshops & train people on resilience & life stories (possibly do something similar to life coaching), but I’m not sure if that’s a good enough reason to apply or if I should probably go about it through another route.

I apologize for the long comment, but you’re website has been the only helpful website I have found on this topic!

Thank you for the kind comments!

As for applying–it can’t hurt to look at a few programs and see if you can’t find one that feels like a good fit. Having served on the admissions committee while in grad school (we were all required to give a year in service), I can tell you that your passion and curiosity will matter. Maybe you can find a few names of professors or grad students at schools that interest you working on resilience and grit and reach out to them for an informational interview (you may have better luck with grad students).

The other thing you could try to do is find a non-academic research job that lets you explore your questions. Agencies are a good place to look. Many big companies are also bringing behavior change teams in-house.

I’d love to know what you end up doing!

Comments are closed.

Psy.D. Vs. Ph.D.: Which Is The Right Fit For You?

Updated: Jan 2, 2024, 3:22pm

Committing to a Ph.D. or a Psy.D. program can have a significant impact on your career path. Both will prepare you for a career in psychology , but there are significant differences between the two programs you should know about. In general, a Ph.D. in psychology focuses more on research and a Psy.D. focuses on practical application.

While both programs can lead to becoming a licensed psychologist , taking a closer look at what each degree track will provide will help you determine whether a Ph.D. or Psy.D. is best for you.

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What Is a Ph.D. in Psychology?

A Ph.D. in psychology, or a Doctor of Philosophy in psychology, is a doctoral degree that primarily focuses on training students in scientific research. Compared to a Psy.D, the Ph.D. is more common and can be found at many public and private universities.

Students in a Ph.D. in psychology program can expect to obtain and build on the knowledge and skills within general psychology or in a concentration. The American Psychological Association (APA) has an extensive list of subfields that range from clinical psychology to climate and environmental psychology.

Benefits of a Ph.D. in Psychology

A significant benefit of a Ph.D. in psychology is that it offers more financial aid options. Many programs offer scholarships, teaching assistantships or even full or partial tuition remission to cover expenses. Some programs also have research grants and fellowships that are sponsored by government agencies and private companies that you can apply for and become part of a research team.

Another benefit is that some programs offer training in both applied practice and in research, rather than focusing heavily on application as a Psy.D. program would. Having dual training may provide you more opportunities on the job market.

What Is a Psy.D.?

A Psy.D., or a Doctor of Psychology, is also a doctoral degree that focuses on application. A Psy.D. program prepares students to provide services for patients and clients, rather than a focus on research.

Unlike a Ph.D., Psy.D. programs are often found in professional schools of psychology that may be university-based, free-standing or in medical or health and science institutions.

Benefits of a Psy.D.

While a Psy.D. may not have the same financial benefits of a Ph.D. program, a Psy.D. will give you more experience with patients earlier in your program. Candidates will often begin coursework and clinical training in the first year of their program.

A Psy.D. program, such as one for aspiring clinical psychologists , features an intensive focus on client-focused skills. Courses can include supervision and consultation, treatment and assessment and other classes that will cover disorders.

In some Psy.D. programs, you may be expected to complete a doctoral-level research project instead of a dissertation.

What to Consider When Choosing a Program

The first consideration you should make when choosing a program is the kind of work you want to pursue post-graduation. Do you want to do research or teach? Do you want to provide services to clients and patients?

Here are some considerations you should make when making the big decision.

Look at Time Spent in School

Both Ph.D. and Psy.D. programs require a heavy investment of your time in school. Programs often require applicants to have an undergraduate and master’s degree. However, some programs have combined master’s and doctorate degrees, reducing years of education and allowing students to enter the workforce sooner.

Students can expect to spend five years in school before obtaining a degree, with four years of coursework and one year of internship. Many candidates, however, take between five to seven years to graduate.

Find Your Focus

Your academic focus and concentration choice may sway your decision in applying for one doctoral degree over the other.

Concentrations in a Psy.D program are typically in clinical, counseling, school or industrial-organizational psychology . In contrast, the options of subfields within a Ph.D. program are more broad and focus heavily on research and experimentation to build knowledge within a discipline.

Consider Your Career Path

Considering your career path or interests will help you decide whether a Ph.D. or Psy.D. is right for you. While the most familiar psychology careers are commonly found in education and healthcare, psychologists are needed in other industries, such as business and technology. These in-demand specialties contribute to high psychologist salaries .

Accreditation

Accreditation of your Ph.D. or Psy.D. program ensures that your program is recognized by the governing bodies for licensure. While completing an accredited program will not guarantee you employment or licensure, it will equip you with necessary skills and knowledge.

The APA has a tool to help students find accredited doctoral programs, as well as internships and postdoctoral residencies across the country.

Frequently Asked Questions (FAQs)

What can you do with psy.d..

A Psy.D. focuses on working directly with patients to provide psychological services. For example, a clinical Psy.D. will prepare students to provide mental and behavioral healthcare to individuals and families across all demographics and over individuals’ lifespans.

Which psychology field is most in-demand?

The U.S. Bureau of Labor Statistics projects strong job growth for psychologists from 2022 to 2032, with a 6% increase overall. Clinical and counseling psychologists will see the highest demand, with an expected growth rate of 11%, followed by industrial-organizational psychologists at 6%.

How long does it take to earn a Ph.D. in psychology?

Many Ph.D. programs project a five year completion time. However, many students can take upwards of seven years.

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Brandon Galarita is a freelance writer and K-12 educator in Honolulu, Hawaii. He is passionate about technology in education, college and career readiness and school improvement through data-driven practices.

Doctorate in Psychology (Ph.D. and Psy.D.) – everything you need to know in 2024

What’s in this guide, ph.d. or psy.d..

• Why get a doctorate in psychology?

Entry Requirements

• PhD in psychology jobs
• How long does it take to study?

How to choose a program

How much does it cost, earning potential , find your degree.

By psychologyjobs.com Staff Writer

A doctorate in psychology is a terminal degree typically lasting 4-7 years. It prepares graduates for independent research, clinical practice, or university-level teaching careers in psychology.

There are many reasons you may want to pursue a doctorate degree in Psychology, the following guide will provide everything you need to know; from the options, costs, timeframes, career advantages and more.

First up, what are the two types of doctorate degree you can get and what are the differences?

The two doctorate degrees you can get in psychology are Ph.D. and Psy.D.

In simple terms, a Ph.D. in psychology is more research-focused, while a Psy.D. emphasizes clinical practice. The best choice between the two depends on your career goals and whether you prefer research and academia or direct clinical work.

Why study for a doctorate in psychology?

• Doctorate-level psychologists typically have higher earning potential compared to those with a master’s degree or bachelor’s degree in the field.
• Gain in-depth knowledge and expertise in your chosen area of specialization within psychology.
• Potentially make significant contributions to the field.
• Advanced career opportunities in various settings, such as academia, research institutions, government agencies, hospitals, and private practice.
• Connect with other professionals, researchers, and academics in the field of psychology, expanding your professional network

The minimum requirements to study a doctorate degree in psychology will vary from institution to institution. However, there are several common requirements:

• Bachelor’s degree:  all programs require applicants to have completed a  bachelor’s degree , in psychology or a related field. Some programs may accept candidates with a degree in another discipline if they have completed prerequisite coursework in psychology.
• Master’s degree : Some doctoral programs require applicants to have a  master’s degree in psychology  or a related field. Others may admit students directly from their bachelor’s degree and incorporate a master’s degree into the doctorate program.
• GPA : Many programs have a minimum GPA requirement, usually 3.0 or higher. Some competitive programs require a higher GPA.
• Letters of recommendation : Applicants typically need to submit letters of recommendation from professors or professionals who can speak to their academic and research abilities.
• Research experience : Prior research experience is often valued by doctoral programs in psychology. This may include experience working on research projects, completing a thesis, or participating in research internships or assistantships.
• Personal statement:  Applicants usually need to submit a personal statement or statement of purpose that outlines their academic and research interests, career goals, and why they are interested in the specific doctoral program.

Doctorate in psychology jobs

• Addiction Counselor
• ABA Therapist
• Mental Health Therapist
• Licensed Mental Health Conselor
• Licensed Professional Counselor
• Licensed Clinical Social Worker
• Licensed Marriage and Family Therapist
• School Psychologist
• Organizational Psychologist
• Forensic Psychologist
• Sports Psychologist
• Clinical Psychologist
• Counseling Psychologist
• Research Psychologist
• Professor of Psychology
• Child Psychologist

*Outside of the licensed psychologist jobs listed above many of the above roles  do not require a doctorate but it is important to note that employers for these roles are increasingly favoring candidates with a doctorate. 

How Long Does It Take To Study?

For the majority of students, a doctorate in Psychology may take anywhere from 4-7 years to finish, which will include a research dissertation and most likely residency or an internship in clinical or medical environments.

By far and away the question our career coaches get asked most frequently about doctorate degrees is how to choose a program. The choice of institutions and programs is truly overwhelming.

Here are some key factors to consider:

• Accreditation – Ensuring the program is accredited by the American Psychological Association . Accreditation affects the quality of education you will receive, your eligibility for professional licensure, and your job prospects after graduation.
• Program Focus and Curriculum –  Different programs may emphasize various aspects of psychology, such as clinical practice, counseling, research, or specific subfields like neuropsychology or health psychology. Match the program’s strengths and curriculum to your career interests and goals. Investigate whether the program offers courses and training that are critical to your desired career path.
• Faculty Expertise – Look into the backgrounds and areas of expertise of the faculty within the program. Consider how these align with your research interests or the professional skills you wish to acquire. Having mentors who are experts in your area of interest can provide invaluable guidance and opportunities for collaboration.
• Research Opportunities – For those interested in research, evaluate the resources available, such as labs, funding, and support for attending conferences or conducting fieldwork. Check if the program encourages or requires publications and what kind of support it offers to achieve these milestones.
• Clinical Training and Internships – For clinically oriented programs, look at the quality and variety of their practicum and internship placements. These are often required for licensure.
• Funding and Financial Support – Understand the types of financial support offered by the program, including teaching and research assistantships, fellowships, and grants. Funding can significantly impact your experience by allowing you to focus more fully on your studies and research without needing to seek employment externally.
• Alumni Success and Networking Opportunities –  Investigate where alumni of the program are currently working. This can give you a sense of the program’s reputation and effectiveness in placing graduates in jobs. Additionally, networking opportunities through alumni networks, professional associations, and academic conferences can be critical for career development.
• Program Size and Student Support Services – Consider the size of the program and the ratio of faculty to students, which can affect the amount of individual attention and mentoring you receive.
• Location – Certain locations might offer better practicum, internship, and employment opportunities in your field of interest due to the presence of significant healthcare facilities, research institutions, or industries.

Depending upon the institution, method of study, location and type of program then you can expect to pay $25,000-$80,000 per year to study for a doctorate in psychology.

An online program would likely fall at the lower end of this range whilst an out of state student in a private university might expect to pay the upper end of this range.

Many psychology doctoral programs, particularly in research-oriented universities, offer funding packages to their students. These can include full or partial tuition waivers, health insurance coverage, and a stipend to help with living expenses

The average salary for an individual with a doctorate in psychology is $114,768.

Earning potential varies considerably by specialty, location and industry but we see roles requiring a doctorate advertised in the $80,000-$130,000 range.

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Is a PhD in psychology worth it?

UQ people Published 5 Jan, 2023  ·  5-minute read

Psychological research is a fascinating field of study that can have a big impact on the way people think, feel and react. If you’re interested in a career in this field, you may be thinking about pursuing a PhD in psychology.

A PhD degree in psychology can help you hone your research skills, pinpoint the research area you’re passionate about and create a solid foundation for a fulfilling career in this industry.

We chatted to UQ PhD candidate Natalie Craig about her experiences studying a Doctor of Philosophy , what inspired her to choose a psychology research topic, and why a PhD in psychology is worth it, from her perspective.

Learn more about studying a PhD at UQ .

What can you research with a PhD in psychology?

There are seemingly endless avenues to explore when it comes to choosing a PhD topic with a focus on psychological research. As long as you can secure a PhD supervisor and funding, you can pursue your research passions in psychology with a Doctor of Philosophy.

You may wish to explore research topics in:

• cognitive neuroscience
• basic perceptual and cognitive processes
• higher cognitive processes (such as decision-making)
• human development
• social psychology
• organisational behaviour
• health psychology
• clinical psychology.

Natalie’s PhD topic focuses on trauma recovery research.

“My PhD topic is about understanding how our social relationships influence how we recover from trauma,” she says.

“My thesis is particularly focused on those who have survived natural disasters.”

Natalie recently won UQ’s School of Psychology Three Minute Thesis competition and is hoping to continue making waves with her research.

“The best possible outcome for my PhD is firstly to better understand how our social relationships influence recovery from trauma, so that we can use this information to begin adapting programs focused on harnessing and enhancing social connections after a traumatic event,” she says.

“Ideally, these programs could then be delivered in the wake of a traumatic event at scale, using the resources of the community.”

Many communities in Australia are still dealing with the tragic after-effects of natural disasters such as floods and bushfires, making Natalie’s research more important than ever. She's passionate about using it to create positive and lasting change.

“Overall, the ultimate goal of all of this is to help subvert people away from developing post-traumatic stress disorder (PTSD), and instead move them towards post-traumatic growth.”  

This potential to make a real difference in people's lives is a huge motivator for many PhD candidates and a large part of what makes a PhD in psychology worth pursuing.

What is a Doctor of Philosophy in psychology? And how does it differ from a Doctor of Psychology?

When studying a Doctor of Philosophy (PhD) with a topic focused on psychology, you’re undergoing in-depth, independent research in an area of your choosing for the duration of your program. A Doctor of Psychology , on the other hand, is a program for those whose interests lie largely in clinical psychology. It involves specialist placements and coursework as well as a research component.

Who can do a PhD in psychology?

Despite what many people may think, you don’t need to study psychology at an undergraduate level to pursue a PhD in the same area.

Natalie’s passion for psychology didn’t develop until her career in public relations was already in full swing.

After completing a Bachelor of Communications, Public Relations and Journalism in 2009, she undertook several communications and PR roles, progressing into management and working with high-profile brands. Despite her success, however, she felt as though something was missing in her day-to-day work.

“I became quite disillusioned with the public relations industry in that it didn’t feel like I was contributing towards something that was truly meaningful to me,” she explains.

Natalie is quick to point out that incredible work is done in PR by a range of very talented individuals, but for her, the sense of fulfilment wasn’t quite there.

“I felt that my skills, ability, and passion could be better used to help people improve their lives,” she says.

Natalie decided to pursue postgraduate education in psychology, completing 2 graduate diplomas before applying for her PhD at UQ. Her research topic was inspired by a natural curiosity.

“I’ve always been drawn towards understanding why people do what they do, and why some people seem to thrive after a traumatic event while others struggle to overcome their traumatic experience(s),” she says.

“Understanding what this mechanism is that puts people on a trajectory towards post-traumatic growth is what has led me to be where I am today, pursuing my particular research question.”

A personally fulfilling career trajectory and impactful research outcomes are not the only things Natalie hopes to get out of her PhD.

Overall, I think my PhD will benefit me in terms of developing confidence and competence across a variety of domains.

During her PhD studies, Natalie has improved her:

• research expertise and knowledge
• project-management skills
• public speaking
• collaboration skills.

“I’ve also enhanced my understanding of a variety of topics outside of my specific research question,” she says.

“In addition to this, I’ve met some really amazing people and have made some wonderful friendships and connections that I’m sure will remain in my life long after my PhD has ended.”

After her PhD, Natalie hopes to secure a postdoctoral position at UQ, so she can continue to build upon her current research.

“Ideally, I'd like to create interventions that focus on the principles of how our social relationships influence recovery from trauma,” she says.

"I also hope to do my Master of Clinical Psychology here at UQ, so I can work with a population of trauma survivors in a clinical and hands-on capacity (as well as in a research capacity).”

For Natalie, a psychology PhD has opened doors to a new career path where she can pursue her passion for research and find meaning in her work.

Why study your PhD in psychology at UQ?

So, what’s unique about studying your PhD degree in psychology at UQ?

“I chose UQ because it has one of the best schools of psychology in the country and also has a solid standing globally,” says Natalie.

“The School of Psychology here at UQ is a large one with a lot of resources and therefore a lot of capacity for support and opportunity, both as a HDR student and also in terms of future career prospects.”

Ready to follow your passion for research with a PhD in psychology?

Learn more about studying a PhD at UQ

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How Much Does It Cost to Get a PhD in Psychology?

Key Takeaways

• Universities often offer PhD students tuition waivers and stipends to help them cover tuition costs.
• It is typical for PhD students to work as teaching assistantships, research assistantships, or at other positions within the university.
• Public universities are generally the lowest cost option for PhD in psychology students.

While a PhD in psychology can set you up for success for the rest of your life, the associated costs of this degree might turn away many prospective students. If the question “How much does it cost to get a PhD in psychology?” has ever popped up in your head, today is your lucky day because you’re about to get your answer!

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How much does it cost to get a phd in psychology.

The average cost of earning a PhD in psychology ranges from $500 to $1500 per credit hour, excluding personal expenses. The median program costs lie between $30,000 to $50,000 per year, making the degree a huge investment. With most programs requiring 60 to 90 hours, you can expect to spend at least 4-7 years at university before you graduate.

In addition to the tuition costs , other expenses like textbooks and supplies, living costs, and healthcare may add up to a significant amount. When picking out a psychology doctorate program, it’s important to factor in the additional costs. Once the expense sheet is ready, you can decide whether a PhD is worth the shot.

The good news is that, in most cases, you don’t have to bear the full tuition fee. Instead, universities often offer PhD students tuition waivers and stipends to help them cover the heavy costs. Your best bet is to check for these funding opportunities beforehand so that paying for your doctorate doesn’t interfere with your academic journey.

Factors that Influence the Cost of a PhD in Psychology

When it comes to the costs associated with a PhD program, there’s no one-size-fits-all situation. Luckily, the price tag of the doctorate isn’t set in stone. How much you’ll pay for it depends on a number of factors, some of which we have highlighted below:

Books and Materials

After the hefty tuition costs, the next big expense includes textbooks and supplies, which fluctuate based on the specific requirements of your chosen discipline.

For instance, when pursuing a doctorate in clinical psychology , you might need to invest in numerous books, journals, and therapy manuals. On the other hand, for industrial-organizational psychology, you might have to spend on surveys, data analysis software, or organizational assessments.

Regardless of your field of specialization in psychology , you’ll need specific materials and resources for research and study. However, just like other disciplines, most schools offer support to cut down on these expenses either through funding or by allowing access to institutional resources.  

Health and Living

When pursuing a PhD in psychology, it’s important to consider the costs associated with daily life and healthcare. These expenses vary depending on where you choose to study. For instance, major cities in the US tend to have much higher living costs as compared to suburban areas.

While city life offers greater access to resources, research opportunities, and lifestyle choices, it often comes with a hefty price tag. However, you may offset these costs by the annual stipends offered by your school. These stipends help cover living and healthcare expenses so you can focus on research without the financial strain.

Cost of Dissertation

Another critical factor to look for when planning on pursuing a PhD in psychology is the cost of a dissertation. For instance, if your research requires specialized equipment, data collection, or compensation for the participants, these expenses may quickly add up. Your expenses also depend on whether you choose to conduct experiments, surveys, or interviews.

To avoid straining your pocket, it’s important to budget for these expenses and explore research grants or departmental support ahead of time.

The costs you’ll bear for the doctorate also depend on the duration of your degree. Many PhD programs in psychology offer funding for a limited amount of time, typically around four to five years. However, if you require more time to complete your degree, you still have options to secure additional funding.

One common avenue is graduate student employment, such as teaching assistantships, research assistantships, or other positions within the university. You may also apply for “finishing fellowships” to help cover your expenses while you focus on the final stages of your degree.

Type of Institution

On average, tuition at public institutions tends to be lower, averaging around $11,554 per year. In contrast, tuition at private institutions is higher, averaging around $20,015 per year. This huge difference indicates that your decision on the type of institution to attend will play a significant role in deciding the financial burden you’ll carry while earning a PhD in psychology.

When considering your options, it’s best to know the type of institution you wish to attend and explore their aid opportunities. This is because most schools offering PhD in psychology may be way cheaper than the others.

Top Schools for PhD in Psychology

Fortunately, the US is home to some of the leading universities that offer PhD programs in psychology. Depending on your requirements, you may look into factors like program length, tuition fees, and accreditation prior to deciding which school to attend.

To save you the legwork, we have reviewed the top schools for PhD in psychology and highlighted the critical factors to consider:

Stanford University

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Tuition + fees

Student body

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Career Outlook for Psychology degree at Stanford University

Stanford University  is one of the top schools in the US offering a PhD program in psychology. The program offers a deep understanding of theoretical and empirical concepts and helps students cultivate independent research and analytical skills. At SU, academic courses, seminars, and research experiences go hand in hand.

To fulfill the requirements, PhD students need to complete five quarters of teaching assistantship (TA) under the supervision of faculty members. This provides valuable teaching experience and countless opportunities to mentor. Stanford University’s psychology department also actively collaborates with other departments to create a diverse academic environment.

• Program duration: 5 years (full-time)
• Accreditation: Yes (WSCUC)
• Tracks: Affective, Cognitive, Developmental, Neuroscience, or Social Psychology

When it comes to tuition fees at Stanford, here’s what you can expect:

• 8-10 units ($12,240) 11-18 units ($18,829)
• Each Graduate unit above 18 ( $1,255 per unit)
• 1-7 units (Summer only) $1,224 per unit

Harvard University

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• #1 50 Best Private Grad Schools 2024
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• #1 Best Research Universities for Psychology Degrees
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• #1 Best Research Universities for Anthropology Degrees
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• #1 Best Research Universities for Earth Sciences Degrees
• #1 Best Research Universities for Physics Degrees
• #1 Best Research Universities for Philosophy Degrees
• #1 Best Research Universities for Chemistry Degrees
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• #3 Best Research Universities for Engineering Degrees
• #3 Best Research Universities for Computer Science Degrees
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Career Outlook for Psychology degree at Harvard University

Harvard University  offers a comprehensive PhD program emphasizing four key areas: Clinical Science, Developmental Psychology, Social Psychology, and Cognition, Brain, and Behavior (CBB). These tracks offer students ample opportunities to explore different research topics and complete their dissertations in their preferred subjects.

What makes Harvard stand out is the university’s commitment to providing full financial support to its PhD students for a minimum of five years. These funds cover tuition costs, health insurance fees, and basic living expenses. Since the faculty has a proven track record of publication in various journals, you can expect to be under the guidance of field experts at Harvard.  

• Program duration: 4-6 years
• Accreditation: Yes (New England Commission of Higher Education) 
• Tracks: Social Psychology, Developmental Psychology, and Cognition, Brain, and Behavior (CBB).

When it comes to tuition fees at Harvard University, here’s what you can expect:

• Full Tuition -  Required first two years of study ($54,032)
• Reduced Tuition - Required third and fourth years of study ($14,048)
• Facilities Fee - Required post-fourth year of study ($3,574)
• Active File Fee - Minimum charge for approved non-resident status ($300)

University of Washington

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• #16 50 Best Graduate Schools Ranked for Prospective Students in 2024
• #1 Best Public Colleges in Washington 2024
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• #2 Best Research Universities for Criminal Justice Degrees
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• #15 Best Research Universities for Nursing Degrees
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• #16 Best Research Universities for Biology Degrees
• #17 Best Research Universities for Business Degrees
• #19 Best Research Universities for Earth Sciences Degrees
• #19 Best Research Universities for Computer Science Degrees
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• #22 Best Research Universities for Physics Degrees
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• #24 Best Research Universities for Sociology Degrees
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Career Outlook for Psychology degree at University of Washington

The PhD in psychology program at the University of Washington  is highly flexible and designed to gear you up for various career pathways in research. At its core, the program is mentor-based, so students can receive one-on-one attention from experts in the field. As a prospective PhD student, it’s best to identify potential mentors with expertise in your areas of interest.

Once admitted, you can join hands with your faculty members to dig deeper into the subject you have chosen. While the Department of Psychology at UW offers seven general areas of study, you can only pick one area to pursue. However, it’s worth noting that a PhD degree at the University of Washington typically requires a longer duration than other institutions.

• Program duration: 6-7 years
• Tuition fee: $18,057 (residents) and $31,530 (nonresidents) 
• Accreditation: Yes (NWCCU)
• Tracks: Clinical Psychology, Data Science, Advanced Data Science, Psychology and Astrobiology

Yale University

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Career Outlook for Psychology degree at Yale University

At Yale University , the primary goal of a doctorate in psychology is to train researchers for both academic and applied settings. The aim is to foster individuals who contribute to the expansion of the field of psychology. The university typically admits around 15 students each year who may select one of the five psychology tracks to pursue.

The best part? At Yale, you may also participate in programs that go beyond traditional disciplinary boundaries, such as cognitive, affective, and social neuroscience, as well as health sciences.

• Program duration: 5 years
• Tuition fee: $48,300
• Accreditation: Yes (New England Association of Schools and Colleges)
• Tracks: Clinical Psychology, Cognitive Psychology, Developmental Psychology, Neuroscience, and Social/Personality Psychology

University of California, Berkeley

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• #2 50 Best Colleges and Universities Ranked for Undergrads in 2024
• #2 50 Best Graduate Schools Ranked for Prospective Students in 2024
• #2 Top Schools that Offer Free Master's Degrees Online
• #2 50 Best Research Universities Ranked for Undergrads in 2024
• #5 Best Universities in the World 2024
• #1 Best Colleges in California 2024
• #1 Best Public Colleges California 2024
• #1 Most Affordable Colleges in California 2024
• #2 The Most Influential Universities and Colleges Ranked by State 2024
• #2 Best Research Universities in California 2024
• #2 Best Grad Schools California 2024
• #2 Best Research Universities for Social Work Degrees
• #3 Best Research Universities for Communications Degrees
• #4 Best Research Universities for Engineering Degrees
• #4 Best Research Universities for Sociology Degrees
• #4 Best Research Universities for Computer Science Degrees
• #4 Best Research Universities for Chemistry Degrees
• #5 Best Research Universities for Anthropology Degrees
• #5 Best Research Universities for Math Degrees
• #6 Best Research Universities for Physics Degrees
• #7 Best Research Universities for English Degrees
• #7 Best Research Universities for History Degrees
• #7 Best Research Universities for Political Science Degrees
• #7 Best Research Universities for Philosophy Degrees
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Career Outlook for Psychology degree at University of California, Berkeley

The University of California, Berkeley , has a PhD program in psychology that strongly focuses on research and offers six tracks, each with minor specializations. Among these tracks, the Clinical Science track is the hardest to secure a spot in.

If you’re worried about costs, UC Berkeley offers funding through different internal awards to ease your financial burden. It also has external support sources like the National Science Foundation and a bunch of extramural fellowships to ensure you have the financial resources necessary to pursue your research.

• Accreditation: Yes (WASC)  
• Tracks: Behavioral and Systems Neuroscience, Clinical Science, Cognition, Cognitive Neuroscience, Developmental, and Social-Personality

When it comes to tuition fees at University of California, here’s what you can expect:

• California residents - $5,850
• Non-residents - $5,850

Financial Aid Programs for Students Enrolling in a PhD in Psychology

If you’re on a budget, earning a PhD in psychology is still possible with the available financial aid options . More often than not, universities and research departments offer teaching or research assistantships as well. Military aid, federal aid, and government scholarships can also help reduce the financial burden. Here’s a list of financial aid programs you can pick from:

Graduate Assistantships

Most universities offering a PhD in psychology also offer graduate assistantship programs. These programs provide tuition waivers and stipends for students undertaking duties such as teaching, research, or monitoring the admin department. These assistantships are a win-win, easing the financial strain while providing years of professional experience to students.

Federal Aid Programs

Alternatively, you may utilize federal aid programs  like the Free Application for Federal Student Aid (FAFSA) to get loans, grants, or work-study benefits.  Once you understand how these government initiatives work, it becomes simpler to get financial support to pursue your PhD in psychology.

Employer-Sponsored Assistance

While not many are aware of it, employer-sponsored assistance is highly popular among candidates pursuing a doctorate in psychology. Luckily, many organizations provide financial support for employees, which is worth exploring. This way, you can complete your degree while your employer looks after your professional development expenses.

Scholarships

You may also opt for scholarships and grants provided by many foundations, particularly to benefit psychology students. Research institutes like the American Psychological Association (APA) and other psychological foundations often open up scholarship opportunities. To maximize your chances of acquiring one, make sure your application stands out!

Private Loans

Once you’ve exhausted other options, you can turn to private loans to pay for your degree. However, don’t forget to thoroughly review terms and conditions, interest rates, and repayment plans before considering this option. Then, compare the benefits and drawbacks to see whether it’s worth it.

Related Questions

Is getting a phd worth it for psychology.

Yes, particularly if you’re more focused on the financial aspects of the journey. The average salary of a PhD psychologist  is around $115,454. Individuals with a doctorate in psychology have a higher earning potential than those with a master’s or bachelor’s degree in the field, making a PhD worthwhile.

How long does it take to complete a doctorate degree in psychology?

Once you’re done with a bachelor’s degree in psychology or a related field, a doctorate in psychology takes you anywhere between  4 and 7 years. However, if you have a master’s degree, your timeframe may be shortened by a few months.

Are there any doctorate psychology programs that are accelerated?

Yes. While the average time to earn a PhD in psychology may take anywhere from six to ten years, it’s possible to accelerate this timeframe. There are plenty of online doctoral degree programs in psychology  that can significantly shorten the time to complete your psychology PhD .

While the question, “How much does it cost to get a PhD in psychology?” can’t be answered with a specific number, we hope this article has given you a fair idea of what it could cost you. If you’re on a budget, we highly recommend thoroughly researching and evaluating different schools and programs before you make a final decision. Remember, there’s various ways to reduce costs. In the end, this degree is highly likely to get you excellent ROI!

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Doctorate in Psychology: Is It Worth It?

Are you thinking about earning a doctorate in psychology? Choosing to earn a Doctorate is a big commitment—and one that isn’t necessarily for everyone as it requires a significant amount of effort and time. According to a report from 2010, some students drop out for a variety of reasons—bad psychology program fit, lack of financial resources, experience time constraints, program difficulty and so on. As a prospective student considering if a doctorate program in psychology is right for you, take the following factors into account:

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PhD in Psychology vs PsyD in Psychology

Before we begin to decide whether earning a Doctorate in Psychology is worth it, we must establish the difference between the two types of doctorate degrees for psychology; the PhD and the PsyD.

The PhD degree in Psychology is the more common degree path in psychology. A Psychology PhD degree is founded in research, so the main focus of your studies will be on developing research ideas, conducting experiments, and analyzing data. 

The PsyD program is an alternative degree that focuses on the clinical and applied aspects of psychology. PsyD study revolves around preparing students for providing professional psychological services. The coursework is directed at applying established standards of practice and evidence-based services.

Whether it be a doctorate or a master's, graduating from a psychology degree program will require a significant commitment of time. Program duration varies by university, the program itself, and also the type of degree you’re pursuing, but generally takes four to eight years. PsyD degree programs usually take less time than PhD programs. For example, the PsyD in Clinical Psychology program at the California School of Professional Psychology (CSPP) at Alliant International University can be completed in as few as four years, while the PhD program takes a minimum of five.

Time aside, earning a doctorate also requires a significant financial commitment. Education isn’t free, so any time you choose to pursue a degree, you’re incurring a cost. Fortunately, many PhD in Psychology programs offer a substantial amount of financial aid for their students. Financial assistance comes in many forms which include student loan programs, graduate teaching positions, tuition waivers, stipends, as well as grants for conducting research.

Even if the program you’re considering does offer a substantial amount of financial aid, it’s important to consider living expenses. Because of the intensity of a doctoral program in psychology, it’s not always possible for a graduate student to work outside of school. So even if the majority of your program costs are covered, you’ll likely be living the life of a full-time college student for the duration of your program.

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Understanding competition & class size.

Doctorate in Psychology programs tend to admit fewer students, which can be both a Pro and a Con. On the one hand, it means smaller class sizes and student-to-faculty ratio that allows for a more personalized learning environment with increased one-on-one guidance. On the other hand, this makes for a more selective and therefore more competitive admission process.

A competitive admissions process means it will likely be more difficult for you to get into the program of your choice. With narrower selections, it will be tempting to choose a school that may not fit your interests as well. But remember—it’s important to select a program that is right for your needs and career goals, whether it be securing a licensure or pursuing a career in a clinical practice. You can look into organizational psychology, school psychology, counseling psychology, behavioral neuroscience, and many other psychology degree programs. If you choose a school based on reputation, ranking, or financial package as your first priority, it’s likely you will end up in a program that doesn’t match your interests as well, which will make it harder to stick with and find satisfaction in your program.

Common Reasons to Pursue a Doctoral Degree in Psychology

Due to the significant time investment required to pursue a PsyD, individuals who enroll in such a program usually have well-defined career objectives and licensing goals. As a result, there are two primary motives for commencing a PsyD program.

• To become a licensed clinical psychologist - Psychologists must hold a doctoral degree in psychology as mandated by all 50 states. There are two educational routes available for prospective clinical psychologists: a PhD or a Doctor of Psychology (PsyD) degree. While both degree programs meet the licensure requirement, understand that there are substantial differences between them that should be taken into consideration.
• To become a practicing psychologist - Students who pursue a PsyD degree usually have a distinct professional objective of becoming a clinical psychologist. 

Career and Professional Goals

With any advanced degree, it’s important to consider what your future career prospects are, and how interested you are in those careers. If you want to earn a Psychology PhD for intellectual prestige and money, we recommend that a doctorate program probably isn’t right for you. Careers in professional psychology can be lucrative, but the upfront cost is often great. If you’re considering a doctorate because you generally “like to help people,” then a doctorate program probably isn’t right for you either. There are plenty of career opportunities available where you can help people without having to earn a doctorate. And if you’re not interested in a career that doesn’t require a doctoral degree, then a doctoral program definitely isn’t right for you. Earning a doctorate can sometimes over qualify you for positions, so it’s important to discipline yourself and know your career aspirations before committing to a program.

However, if you’re interested in conducting research to further the study of psychology, working in academia, or working as a licensed psychologist, a doctorate program is probably right for you.

The Payoff: Career Prospects and Salary

Time, cost, and commitment aside, for many students, a Doctorate in Psychology is the right choice for their career goals, and for those people, a doctorate pays off after graduation, especially with licensure. With a doctoral degree, you will qualify for a greater range of jobs than those who only hold a bachelor’s or master’s degree—and you’ll be better positioned when pursuing the job you really want, too.

With a Doctorate, a variety of career opportunities are available. Depending on the degree specialty you pursue, you may be able to work in organizations as a:

• Research psychologist
• University professor
• Director of community health programs
• Clinical psychologist
• Counseling psychologist
• Health psychologist
• Neuropsychologist
• Industrial/organizational psychologist

To learn more about the Doctorate in Psychology or other graduate programs available at the California School of Professional Psychology at Alliant,  contact an admissions counselor .

Sources: [ https://www.psychologydegree411.com/degrees/psyd/ ]

David Stewart

Dean, California School of Professional Psychology

David G. Stewart, PhD, ABPP, is a board-certified clinical child and adolescent psychologist and Dean of the California School of...

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How Long Does It Take to Get a PhD in Psychology?

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• How Long Will It Take?

Before You Earn PhD in Psychology

Which type of degree should you get, can you finish your degree early.

Just how long does it take to get a PhD in psychology? The answer can vary depending on your program, educational background, and academic schedule. In general, most PhD psychology programs take anywhere from five to seven years to complete.

Learning more about what it takes to get a doctorate in psychology can help you better plan your educational and career journey.

At a Glance

Getting a PhD in psychology can take several years of graduate study. If you are thinking about becoming a psychologist, research your degree options to figure out what type of degree you need and how long it will take to enter your chosen profession. No matter what you decide, plan to spend anywhere from three to seven years in graduate school to earn a doctorate.

How Long Will It Take to Get a Doctorate Degree?

How long it takes to get a doctorate in psychology depends on various factors, including the type of degree you have selected, your educational background, and the individual doctorate program in which you have enrolled.

Most doctorate programs in psychology take between four to seven years to complete.

PhD in Psychology

Most PhD programs require at least five to seven years to complete. These programs often follow a scientist-practitioner model that trains professionals both in research and clinical practice.

In addition to regular coursework, you may also be expected to complete an internship or supervised residency. The program usually culminates in completing an original research project or dissertation.

PsyD Degree

Most PsyD programs require between four to six years to complete. A PsyD is a degree designed to train professionals to apply psychological knowledge to treating and helping people in real-world settings.

According to the American Psychological Association, PsyD programs focus more on applying psychological science, usually in the form of service.  

Most EdD programs require between three to five years to complete. EdD programs are often focused on psychology, counseling, or counselor education. They explore topics that involve both education and psychology.

It is important to note that many applicants to EdD programs already hold a master's degree in a related field. This differs from applicants to PhD and PsyD programs, who often begin their program of study with a bachelor's degree.

Before you begin your academic journey, it is a good idea to look at just how long it will take you to complete your degree. The amount of time it will take can depend upon various factors, including:

• Your chosen specialty area
• The program you select
• The course load you can take each semester

A doctorate-level degree in psychology is required to work in many job areas, including as a licensed clinical psychologist or counseling psychologist. According to the American Psychological Association, a doctorate degree is also often required in fields such as school psychology or health psychology .

So how long does it take to get a PhD in Psychology ? First, it is essential to realize that the degree requirements can vary depending on the field that you decide to pursue. A PhD, or Doctor of Philosophy degree is not necessarily your only option. In some cases, you might want also to consider the PsyD (Doctor of Psychology) or the EdD (Doctor of Education) degree options.

The PhD, PsyD, and EdD are all great options, but don't let how long it takes to complete be the primary deciding factor. Before you decide to get a doctorate degree, start by deciding which type of degree is most suited to your professional goals.

If you want to conduct research:

A PhD in Psychology tends to focus on a research-based model of education. People with a PhD in Psychology are qualified for a wide range of teaching, research, and clinical positions in colleges, universities, hospitals, government offices, and private mental health practices.

If you want to treat mental health issues:

The PsyD degree option generally focuses on a practitioner-based model of education. Individuals with a PsyD degree can also teach or conduct psychology research, but they frequently work in applied settings to provide direct mental health services.

If you want to apply psychology to help students:

Finally, there is also a third doctorate option that you might also want to consider depending on your career goals. If you are interested in working as a school psychologist or in a related educational field, the EdD, or Doctor of Education, is a possible option.

Despite the years of work, earning your PhD, PsyD, or EdD can be well worth the effort. The U.S. Bureau of Labor Statistics suggests that workers with a doctoral or education specialist degree in clinical, counseling, and school psychology will find the strongest job opportunities.

Generally, if you have a strong background in psychology and have completed all of the necessary prerequisites, you can finish your doctorate sooner than students who have not taken the prerequisite courses.

Carefully planning your degree can also help ensure you complete the program requirements quickly.

Be sure you have a clear idea of what you want to do with your psychology degree once you've completed it. Do you want to teach, or is research more appealing to you? Are you interested in seeing clients, or are you planning to combine your training in psychology with another field, such as law or medicine?

If you need help deciding, make an important with an academic advisor at your school. They can help you explore your options and answer any questions you may have.

What This Means For You

No matter the degree you decide to pursue, earning a doctorate in psychology requires a significant investment of time, money, and effort. Because of this, it is essential to carefully consider your goals before deciding on a graduate program. You should also think about whether you need a doctorate or if a master's might be more appropriate.

Gee DG, DeYoung KA, McLaughlin KA, et al. Training the next generation of clinical psychological scientists: A data-driven call to action .  Annu Rev Clin Psychol . 2022;18:43-70. doi:10.1146/annurev-clinpsy-081219-092500

Loyola University. Can I get my Psy.D. without a Master's in Psychology?

American Psychological Association. Doctoral degrees in psychology: How are they different, or not so different ?

Franklin University. Is getting a Doctorate in Education worth it?

American Psychological Association. Frequently asked questions about graduate school .

Bureau of Labor Statistics. Psychologists . Occupational Outlook Handbook .

Carr, A. Clinical Psychology: An Introduction . London: Routledge; 2012.

Kuther, TL. The Psychology Major's Handbook . Boston, MA: Cengage Learning; 2016.

By Kendra Cherry, MSEd Kendra Cherry, MS, is a psychosocial rehabilitation specialist, psychology educator, and author of the "Everything Psychology Book."

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8 Reasons Why You Should Get Your Doctorate in Psychology

Are you thinking about going back to school to get your doctorate in psychology? Earning your Ph.D. or PsyD can be an excellent way to improve your career and salary prospects. Below are some of the best reasons to consider earning this prestigious degree.

#1 You Want To Be An Academic

Earning your bachelor’s degree and even a master’s degree in psychology is not enough to get you the best-paying jobs in academia. If you want to be a full-time psychology professor at most universities, you must earn your doctorate in psychology.

Many students want to get their doctorate and work in academia so they can teach students at the bachelor’s and master’s levels. Being a full-time professor provides a good salary, benefits, and job security.

Others want to perform research at universities and obtain research grants from public and private entities.

#2 You Want To Be a Researcher

Many Ph.D. students in psychology yearn to become a research psychologist. In this field, you have the chance to study a variety of complex psychological issues and treatments and come up with new solutions.

Many doctoral degree holders are employed by the government or non-profit groups to discover new treatments for mental health conditions. Others focus on discovering innovative ways to teach certain populations of students.

Research psychology is also a good path if you want your original research published in peer-reviewed journals, such as The Journal of Psychology and Cognition and The Journal of Psychology and Psychotherapy.

#3 You Have Your Master’s Degree

Students interested in a psychology career can do little with a bachelor’s degree alone. Practicing as a counseling or clinical psychologist requires at least a master’s degree. However, to work independently, you must have a doctoral degree.

Most psychology students eventually earn their master’s degree, which means you are just one of many who have their graduate degree. But a lot fewer students earn their doctoral degree.

Doctoral programs are more selective and difficult. You can make yourself stand out from other psychology students with your Ph.D. or PsyD.

#4 You Want To Specialize

Some master’s programs allow you to specialize in a branch of psychology. But obtaining your doctorate in psychology allows you to focus even more on that specialization so you can become an expert and authority in the field. Some of the most popular doctoral specializations are:

• Neuropsychology
• Engineering psychology
• Sports psychology
• Forensic psychology
• Developmental psychology
• Educational psychology
• Health psychology
• Human factors psychology
• School psychology
• Social psychology
• Abnormal psychology

#5 You Want to Work in Private Clinical Practice

You can work as a clinical psychologist with a master’s degree, but you must be supervised by a Ph.D. in the field. While this may be a satisfactory arrangement for some time, many professionals want to eventually start their own private practice.

#6 You Want To Understand a Psychology Subject Better

If you want to become a subject matter expert on a subject in psychology, getting your Ph.D. may allow you to conduct in-depth research in that area.

For example, if you want to understand better how the brain solves problems, or how some drugs can affect depression or bipolar disorder, doctoral study will allow you to do years of research in those areas. You may even decide to write your dissertation on the subject.

#7 You Want to Help Other People

You can counsel others with a master’s degree. But having your psychology doctoral degree means another four to six years of experience and study. You can provide more in-depth help to your patients with a Ph.D. or PsyD.

SEE ALSO: Is it Worth It to Get a PsyD in Psychology?

#8 You Want to Make More Money

The Bureau of Labor Statistics (BLS) states that the top earners in the field make at least $130,000 per year. Most of them have a doctoral degree and many years of work experience.

You also will qualify for more jobs with a doctoral degree. APA’s Workforce Studies found that 72% of surveyed psychologists with a doctorate got their top choice for work after they graduated.

What the Experts Say

We checked with experts on Quora.com about this question: “Is it worth it to get a Ph.D. in psychology?”

• “If you enjoy research, by all means, look into the possibility of pursuing the Ph.D., which will open many career avenues even before graduation. The field of psychology is rapidly following the study into biological and genetic factors behind mental illness and is the wave of the future. This opens up many new areas of research that you may become a part of.” – Mike King, MA in Politics, MS in Psychology, Minor in Management .
• “It depends on what you mean by “worth it.” If you don’t mind working hard for a finite number of years in order to have great flexibility in where you work (VA, academia, private practice, mental hospital, community mental health, the federal prison system, etc.) and what you do (therapy, assessment, administration, supervision, teaching, research, etc.), then yes, it’s worth it.” – Valerie Leake, Psychologist, Therapist .
• “A Ph.D. in psychology is centrally about doing research and getting it published. Do you feel comfortable doing research? Do you aspire to become a professor of psychology? Is there any domain in psychology that you have a special passion for? If your responses to these questions are all “yes”, then go ahead [and get your Ph.D.]. – Jimmy Zhong, Student, Ph.D. in Psychology .
• “I found it useful. I was able to teach undergraduate and graduate classes at three different universities. I worked as a school psychologist/diagnostician and earned a good salary. It was six years of hard work past my undergraduate degree, but I think it was worth it.” – Rondeall Bizzell, Ph.D. in Psychology .

Earning your doctoral degree in psychology provides you with many job opportunities and a shot at earning a top salary in the field. It is a worthy educational goal that can “result a high level of personal and professional satisfaction.

• Psychology PhD Overview. Accessed at http://www.teachingeducpsych.org/psychology-phd.html
• Is a Doctorate in Psychology Worth It? Accessed at https://www.alliant.edu/blog/doctorate-psychology-it-worth-it
• Doctoral Degree in Psychology. Accessed at https://www.apa.org/gradpsych/2012/11/right-path

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Is getting your phd in clinical psych worth it (us).

Just looking at the average stipends, length towards completion, and salary afterwards, I can't talk myself into it. I love doing research, but I can't imagine doing all that work, spending that long living paycheck to paycheck, and then getting out and making that much money is worth it.

Everyone I've talked to either crashed and burned fairly early on and have only negative things to say, or have "made it" and are all smiles and positivity. Is it really worth it, if you can make it?

Now, that being said I may have a skewed perception -- I live in a really high cost-of-living area (not quite as high as NYC, but close), and I have a job history that would allow me to easily go into a different field immediately post-undergrad that would have me making about $175,000 or more within 5-10 years.

Can anybody tell me the real pros and cons?

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• Psychology [Psy.D. / Ph.D.]

Clinical Psychology PhD -- is it worth it (for me)?

• Thread starter priorities2
• Start date May 18, 2012

priorities2

Full member.

• May 18, 2012
• May 19, 2012

Hmm... Not sure where to start first, but welcome to the board. As for your general questions about where psychologists can work, yes, we can be employed in the settings you mentioned. However, most Ph.D. programs, especially the fully funded ones, will require a substantial amount of research. I would not suggest a Psy.D. due to lack of funding. You mentioned being in college, but you may want to do some research on salaries in the workplace in general for multiple fields. 70k is more an entry level salary for a licensed psychologist. After 10 years in a VA you could make 100k per year. At an R1 research university doing research, which I know you mentioned you do not know if that is for you, you could start in the 70 range, but mid career near 90s and above if successful. Academic health centers would be 80s and above after you put in some time. There are quite a lot of positions that pay quite less and that is a risk you take, in any field. Also, these positions are quite competitive, and you will need to go to an APA accredited program, APA internship, and likely post-doc to get one. Question 2 seems the most concerning. I loved all my psych classes. I can't see how you would want to go to grad school if you don't really enjoy the courses. Yes, boring professors exist, but if you are that bored, maybe it is a sign of things to come. Grad school admissions are highly competitive, and you will need GRE scores of 1300 to gauge interest, and likely higher to qualify for some fellowships. But the good news is that there are a lot of positions in various settings open aroud the country. Go to usajobs.gov, type psychologist and see for yourself. However, these are highly competitive, requirements are strict, and only occur after a long grueling process! If this field is for you, you should feel the passion and desire by intrinsic motivation. Good luck in your search these next few years!  

Regional Clinical Officer, Centene Corporation

priorities2 said: Okay, I don't know how many of you have ever seen the movie The Ring , but ever since I was a kid, I wanted to have the job of the guy who does Samara's intake into the psych ward and asks her all those questions. Click to expand...

AcronymAllergy

Neuropsychologist.

In my admittedly-limited experience with inpatient psych (a year-long externship), coupled with what I've heard from individuals with a more vested interest in that setting, the typical responsibilities of a psychologist tend to include diagnostic clarification (which can sometimes include the initial intake, although usually seems to happen on more of a referral basis), psychological testing/assessment (both personality and cognitive), and occasionally treatment (short-term individual psychotherapy or, as was more often the case for me, group work such as social skills training). As for your question about competitiveness: yeah, it's pretty competitive, although the numbers you listed would meet the standards of most programs.This is assuming that by "substantial research experience," you mean a couple years' worth of time spent in a lab along with, ideally, a couple poster presentations and/or a publication. Although yes, even with all that, you'd need a solid GRE to be considered at many programs. "Solid" in this case would mean >1100 to generally even have your app looked at and >1200 for more serious review. Although keep in mind these numbers are GROSS generalizations; people do get into fully-funded programs with GREs <1100, they just often "make up" for the score in other ways, such as research experience and/or having a master's. Given your limited exposure to the field as a whole, I'd say your best bet at this point would be to see if you could shadow, or at least speak with, a few psychologists and psychiatrists so you can see/hear what their typical day entails.  

if you enjoyed Chicano/a and Family Studies, and decide you're not too into research, an MSW may be a better fit. It has more emphasis on social issues and you could still do therapy like a master's level psychologist. I agree that if you dislike all your psych classes, it may not be the best career choice, but I didn't enjoy all the requirement for my psych major. I did love all my mental health related coursework, which helped steer me to clinical psych. Also, if you are looking at fully funded programs (which is smart) and will have <1 year of research under your belt, you may end up taking time to get more experience between undergrad and grad school. That will give you more time to explore and decide what you want to do.  

cara susanna

I worked in an ER and I hated it. Just be aware that it's stressful and many of the staff members are cranky. I know someone who did psych evals in an ER (Masters-level clinician) and the nurses treated her really badly. Edit: I should add that I was not working in any psychology-related field at this time  

snowcherries

I personally was disappointed with some of my introductory/survey psych classes in college as compared to my humanities classes, but that was mostly because they were giant lecture classes without much room for inquiry and discussion. By the time I was a senior, however, I loved my seminar and special topics courses, in which we read journal articles and talked about them or listened to very cool guest speakers. These courses are most similar to the classes you'll have in a rigorous PhD program with small cohorts. I was also very intellectually stimulated by my research involvement in undergrad, so I'm glad you're pursuing research soon.  

• May 21, 2012

priorities2 said: (4) Let's say I have a specific (large, metropolitan) city where I want to live when I grow up. Will I get a job as a clinical psychologist there? Or is there a good chance I'll have to relocate to wherever I can find an opening? Click to expand...

Agree w/Pragma. Our DCT's opinion is that if you are tied to a particular location you are giving up both your ideal job setting and your ideal salary. You're going to have to take what you can get. For the large metro area my program is located in that seems to be how it works.  

roubs said: Agree w/Pragma. Our DCT's opinion is that if you are tied to a particular location you are giving up both your ideal job setting and your ideal salary. You're going to have to take what you can get. For the large metro area my program is located in that seems to be how it works. Click to expand...

erg923 said: I suppose I agree. However, I have been sucessful in lining up great opps in my home city (mid-size city), but it has taken ALOT of work. Emails, calls, emails, etc. Really working it. It has paid off now, but it took alot of investigating and alot of phone conversations to get it all to come together. NEVER thought I would have to work so hard to get a good entry-level job in this profession in my desired area. Click to expand...

Therapist4Chnge

Neuropsych ninja.

erg923 said: I NEVER thought I would have to work so hard to get a good entry-level job in this profession in my desired area. Click to expand...

Right, it is somewhat of an oversimplification. How much/well you network and chance will still play role.  

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Which University Degree Should I Pursue?

The degree you pursue is more important than the university where you pursue it..

Posted July 15, 2024 | Reviewed by Michelle Quirk

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• Choosing a university degree involves weighing interests against job prospects and financial stability.
• Degrees in science, technology, engineering, mathematics, health, and business may lead to higher earnings.
• Career success often involves nonlinear paths and developing your passion over time.

Deciding what university degree to pursue is a major life decision that can shape your career and personal development. It's a question that prompts deep introspection, weighing interests against practical considerations like job prospects and financial stability. To illustrate how this decision can evolve and impact one's life, let’s look at the journey of Susan Wojcicki, the CEO of YouTube between 2014 and 2023.

Susan Wojcicki was born and raised in California. Wojcicki excelled academically and displayed a keen interest in writing, contributing to her high school newspaper, The Oracle . Based on her excellent grades, she was invited to attend Harvard University in 1986. However, like many young students, she faced uncertainty about which degree to pursue. She ultimately chose to major in history and literature, which was a program that nurtured her skills in writing and research and aligned strongly with her interests at the time.

During her time at Harvard, Wojcicki's academic interests expanded. She took an economics course that piqued her curiosity and planted the seed for a possible career in economics. However, it wasn’t until her senior year that another interest emerged in computer science. As you can guess, this newfound interest would later significantly impact her career trajectory.

After graduating in 1990 with honors, Wojcicki moved to Silicon Valley and continued her education . She earned a Master of Science in Economics from the University of California, Santa Cruz, in 1993, followed by an MBA from UCLA Anderson School of Management in 1998. Throughout this period, she gained valuable experience working in marketing and consulting roles at various companies.

In a twist of fate, Wojcicki rented her Menlo Park garage to two young computer scientists, Larry Page and Sergey Brin, who were working on their new startup, Google. Faced with a critical decision, Wojcicki chose to join Google in 1999 as their 16th employee rather than pursue a Ph.D. in economics. This decision set her on a path to becoming one of Time 's 2015 100 most influential people .

Wojcicki’s story underscores the complexity and importance of choosing a degree. Her journey demonstrates that the initial choice of degree is only one part of a broader educational and career landscape. When it comes to choosing a degree, two main factors stand out: interest and job prospects.

Following Your Interests

The advice to “follow your passion” is common, and for good reason. Studies show that students who choose their major based on intrinsic interests tend to perform better academically and feel more satisfied with their educational experience. For instance, a study involving more than 20,000 students from six large U.S. public universities found that those who chose their majors based on intrinsic reasons, such as a genuine interest in the subject, were more likely to be satisfied and feel a sense of belonging.

It's important to consider whether there's a good fit between your interests and your chosen field. According to John Holland, a prominent figure in vocational choice theory, people flourish when there's a match between their personality type and their environment. Holland identified six personality types each aligning with different activities, values, and competencies:

• Realistic: Prefers using tools and machines. Values material rewards. Excels at manual, mechanical, and technical activities.
• Investigative: Prefers thinking about phenomena. Values knowledge. Excels at scientific and mathematical activities.
• Artistic: Prefers creating new things. Values creativity . Excels at language, art, music, drama, and writing.
• Social: Prefers helping others. Values service. Excels at human relations.
• Enterprising: Prefers persuading others. Values status. Excels at leadership .
• Conventional: Prefers systematic organization of data. Values financial accomplishment. Excels at clerical and computational activities.

This match between personality type and occupation type turns out to be really important. Students are more likely to succeed if there is a good match between their personality interests and their major area of study. These are the first steps toward Ikigai , a Japanese concept that roughly translates into your reason for being.

Considering Job Prospects

While following your interests is crucial, it’s equally important to consider the practical aspects of your degree choice. Earnings potential, job security, and career growth are significant factors. Generally, degrees in STEM (science, technology, engineering, and mathematics), health, and business fields tend to offer higher starting salaries and better long-term financial prospects compared to degrees in the arts, humanities, and social sciences.

Although everyone’s income usually increases over time, the differences also increase. For example, during their prime earning years, on average, those with degrees in STEM, health, and business earn close to 42 percent more income than those with degrees in teaching, arts, liberal arts, and humanities. According to an analysis in 2014 , over the course of a lifetime, the expected earnings for a student enrolling in a U.S.-based arts or humanities undergraduate degree program is around 2.2 million dollars compared to 3.0 million dollars for a student enrolling in a business or STEM major.

More than one-third of those who earn a university degree go on to further study, which can be a smart financial move. Once again, graduate degrees in engineering, science, and business are most likely to boost earnings. For example, Wojcicki’s combination of a humanities undergraduate degree with postgraduate degrees in economics and business provided her with a diverse skill set that was highly valued in the tech industry. This blend of education and experience positioned her well to seize opportunities as they arose.

There are a few important take-homes from this analysis. First, choosing a university degree is a significant decision that involves balancing your interests with practical considerations about your future career and financial security. Before choosing a major, you should honestly reflect on your preferred activities, values, and competencies and then reflect on which degrees will provide you with a good fit.

Second, when considering financial aspects, it’s clear that different degrees lead to varying financial outcomes. On average, STEM and business degrees tend to offer higher lifetime earnings compared to arts and humanities degrees. Of course, the potential for high earnings exists in all fields for those who excel and leverage their skills effectively. It’s more lucrative to be a top-rate teacher than a bottom-rate engineer.

Third, the path to career success and happiness is often nonlinear. Opportunities can arise in unexpected ways. It’s important to remember that passions and interests evolve over time . What fascinates you at 17 might not hold the same appeal at 27 or 37. Additionally, the idea of a single, preordained passion can be limiting. It can be more helpful to think of passion as something you can develop and cultivate through your experiences and education.

If you'd like to see how your own big decisions compare to those of others, complete the survey here and also check out the data.

Susan Wojcicki . Forbes.

Brian Grazer. Susan Wojcicki. Time. April 16, 2015.

K. Schaeffer. 10 facts about today’s college graduates . Pew Research. Apruk 12, 2022.

Adrian R. Camilleri, Ph.D. , is a behavioral scientist who currently works at the University of Technology Sydney (UTS) Business School.

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Is College Worth It? A Comprehensive Return on Investment Analysis

• Preston Cooper

Photo by  Rochelle Nicole  on  Unsplash

Title Goes Here

Key findings.

• This report estimates return on investment (ROI) — the increase in lifetime earnings minus the costs of college — for nearly 30,000 bachelor’s degrees.
• For students who graduate on time,  the median bachelor’s degree has a net ROI of $306,000 . But some degrees are worth millions of dollars, while others have no net financial value at all.
• After accounting for the risk of dropping out, ROI for the median bachelor’s degree drops to $129,000.  Over a quarter of programs have negative ROI .
• Four in five engineering programs have ROI above $500,000, but the same is true for just 1% of psychology programs.
• Elite schools such as Caltech and Penn dominate the list of highest ROI programs.  But attending an elite school is not a golden ticket; some Ivy League degrees have negative ROI .

Executive Summary

Most students attend college in order to get a better job with a higher salary. But the financial returns to college vary widely depending on the institution a student attends and the subject he or she studies. While prospective students often ask themselves  whether  college is worth it, the more important question is  how  they can make college worth it.

This report presents estimates of return on investment (ROI) for nearly 30,000 bachelor’s degree programs, drawing on a new Department of Education dataset and Census Bureau surveys.

In financial markets, ROI measures the profitability of an investment relative to its cost. In our study, we define the ROI of a college degree as the increase in lifetime earnings a student can expect from that degree, minus the direct and indirect costs of college.

The median bachelor’s degree is worth $306,000 for students who graduate on time. But the median conceals enormous variation. Some fields of study, including engineering, computer science, nursing, and economics, can produce returns of $1 million or more. Others, including art, music, religion, and psychology, often have a zero or even negative net financial value.

When accounting for the risk that a student will take longer than four years to finish college, or drop out entirely, median ROI drops to $129,000. Twenty-eight percent of bachelor’s degree programs have negative ROI when adjusting for the risk of non-completion. If ROI is adjusted to reflect the underlying cost of education, not just tuition charges, the share of non-performing programs rises to 37%.

The ROI estimates presented in this report can help students make better decisions regarding higher education. They may also be of interest to other stakeholders, including policymakers, trustees, and institutions themselves. The full dataset, including measures of ROI for all 30,000 programs, is  available here .

Introduction

Students constantly hear the refrain that they must attend college to be successful. As a result,  two-thirds of high school graduates  enroll in college the following autumn.  Almost all students cite  getting a better job as a primary reason for attending college.

But as this report shows, the decision to attend college is less important than the choices that come next: which school to attend, and which subject to study.

This report assesses the economic value of nearly 30,000 bachelor’s degree programs at 1,775 colleges and universities across the United States.  A key measure of economic value is return on investment (ROI), which we define as the amount a student can expect to gain financially from each individual degree. ROI compares the main financial benefit of college—the increase in lifetime income attributable to the degree—to the costs, including tuition and foregone earnings.

The analysis reveals that a student’s choice of program is perhaps the most important financial decision he or she will ever make. Most bachelor’s degree programs in engineering, computer science, economics, and nursing increase lifetime earnings by $500,000 or more, even after subtracting the costs of college. But most programs in fields such as art, music, philosophy, religion, and psychology leave students financially worse off than if they had never gone to college at all.

Differences in ROI between programs can amount to millions of dollars. Financially, the best program anywhere in the nation is the computer science major at the California Institute of Technology. Students in this program can expect an ROI of over $4.4 million. But 28% of programs have negative returns on investment, meaning that students will be financially worse off for having participated in those programs.

Our preferred measure of ROI incorporates the significant chance that the student will not complete college, and thus fail to realize the economic benefits of a college degree. We also report a “clean” measure of ROI, which assumes the chance of on-time graduation is 100%. Many programs which have high ROI in theory see their economic value fall dramatically when taking low completion rates into account.

We calculate ROI with respect to the net tuition that students pay, taking financial aid into account. But net tuition is usually less than the underlying cost of college. Governments and private interests subsidize college through financial aid, direct appropriations, donations, and endowment spending. Other stakeholders, including policymakers and trustees, may wish to assess ROI after accounting for the full underlying cost of college, not just tuition. Therefore, we also provide a measure of ROI with respect to the full cost of education, not just tuition charges.

Individual financial returns to college are the paramount consideration for most students. Almost all students say access to a well-paying job is a primary reason for attending college.

The results improve on existing estimates of college ROI in multiple ways. First, the analysis leverages a new dataset, the program-level  College Scorecard , to report results for individual majors at each college rather than the college overall. Second, it augments the Scorecard with data from the U.S. Census Bureau to estimate earnings throughout students’ careers, rather than just the first two years after graduation. Third, it provides more accurate estimates of the increase in earnings attributable to each degree by adjusting for demographics, ability, family background, and local labor markets.

The measures of ROI reported here do not incorporate everything a prospective student might care about. There are non-financial benefits to certain degrees; theology majors, for instance, usually don’t study religion for its lucrative returns. These measures of ROI also don’t incorporate externalities to college education. College degrees have both  social benefits  and  social costs .

But the individual financial returns to college are the paramount consideration for most students. Almost all students say access to a well-paying job is a primary reason for attending college. Moreover, those who deliberately choose a low-paying major for its non-financial benefits should know just how much money they’re giving up to pursue a “dream” career. These measures of ROI supply the knowledge necessary to navigate those tradeoffs.

If students make better choices regarding where to go and what to study, their bank accounts won’t be the only thing that benefits. Wages and salaries are the mechanism through which the economy signals its labor needs. High earnings for engineers are a sign that we need more engineers. Knowledge of ROI is the path not only to individual prosperity, but higher economic growth overall.

What do college graduates earn?

According to the Bureau of Labor Statistics, people with a bachelor’s degree  earn 67% more  than people who only have a high school degree. The wage premium associated with college is well-established and a major reason why so many students view the bachelor’s degree as a “golden ticket” to economic prosperity.

But the average conceals variation. Some bachelor’s degree programs vault their graduates into jobs that pay two or three times as much as a high school graduate earns. But other programs leave their students with incomes barely above high school level. Once again, the most pertinent question isn’t “does college pay?” but “when does college pay?”

Fortunately, students now have access to a new dataset, the program-level  College Scorecard , which includes the median earnings for graduates of over 30,000 bachelor’s degree programs. But the Scorecard has a major limitation: right now, it only reports earnings for the first two years after graduation. This is a problem as earnings tend to rise considerably throughout college graduates’ early careers. To estimate lifetime earnings for all 30,000 programs, I extrapolate Scorecard earnings using data from the Census Bureau’s American Community Survey (ACS). More details may be found in the  methodology article accompanying this paper .

The analysis reveals a clear difference in earnings by major. Ninety-five percent of engineering programs, weighted by the number of graduates, will produce median earnings above $80,000 per year by the time their graduates reach mid-career. (Unless otherwise noted, all figures in this paper are weighted by the number of graduates.) Other majors with strong earnings outcomes include computer science, health and nursing, and economics.

But just 1% of psychology programs will yield earnings above $80,000 per year when their graduates are aged 35. Similarly, it is unlikely that graduates of arts, music, philosophy, religion, or education programs will reach annual earnings of $80,000 or more by mid-career.

Individual programs at the same institution can produce vastly different earnings outcomes for their graduates. One of the most lucrative programs anywhere is the finance major at the University of Pennsylvania. Graduates of this program will have median earnings of over $288,000 by age 35, according to my estimates. But students at the exact same school who choose a major in film and photographic arts can expect earnings of just over $45,000 by age 35.

For college graduates, earnings tend to start at a relatively low level but rise steeply throughout the early career. Median earnings for bachelor’s degree programs in the Scorecard are roughly $39,000 at age 25. Earnings then rise rapidly year after year until the mid-thirties. At age 35, the median program produces earnings of $65,000. Incomes plateau in the late thirties; by age 45, the median program’s earnings have risen to just over $71,000. After age 50, earnings begin to decline.

It is important for students to know that their earnings immediately after graduation significantly understate their earnings capacity later on in life. However, earnings immediately after graduation are a reasonable guide to what a student will earn  relative to peers in other programs . In other words, the ranking of programs changes little throughout life. Engineering and computer science will almost always be lucrative majors, while art and religion will usually disappoint those in search of large paychecks. The correlation between earnings at age 25 and earnings at age 45 for the 30,000 programs in the Scorecard dataset is 0.94.

There are exceptions, of course. Nursing majors tend to start their careers at a high level of earnings, but their earnings capacity grows more slowly than other majors. Though nursing majors significantly out-earn physics and economics majors during the early career, by age 45 the physicists and economists have caught up with the nurses. Conversely, while education and communications majors start out with roughly the same salary, by age 45 the communications majors earn $10,000 more annually than their education-major peers.

Use the searchable table below to find estimated earnings for your college and major at ages 25, 35, and 45.

While earnings by themselves are a useful measure of the value of college, they are only one half of the ROI equation. To ascertain a full picture of the economic value of college, we also need to consider costs.

What is the full cost of college?

The full cost of college is more than just the price of tuition. A student who attends a four-year college necessarily gives up other alternatives. The student must spend a minimum of four years out of the labor force, and the wages he or she gives up during that time may exceed the cost of tuition. If the student takes longer than four years to graduate, the opportunity cost of his or her degree goes up.

ROI must also consider counterfactual earnings, or what each student would have earned in a parallel universe where he or she did not attend college. Assessments of ROI often compare the earnings of college graduates to the earnings of the median high school graduate. However, this simple analysis is insufficient for an accurate estimate of ROI. People who choose to attend college are different from those who do not. The two groups have different earnings potential. The counterfactual earnings for a college graduate are likely to exceed the earnings of the median high school graduate.

The same principle applies to different majors. Does an engineering graduate have high earnings because of his degree, or because engineering tends to attract people with scientific minds who would earn high wages no matter what? If so, an engineering major might have different counterfactual earnings than an English major. What about students who attend public colleges versus private colleges? Private college students often come from wealthier families. Are high earnings for private-college graduates due to the school, or due to family background?

Obviously, it is impossible to look into parallel universes and observe what each student would have earned had he or she not gone to college. We can, however, estimate counterfactual earnings for each program based on the observable characteristics of its graduates, such as demographics, geographic location, family background, and cognitive ability. The full details of this adjustment are available in the  methodology article . By comparing observed earnings to counterfactual earnings, we can estimate the true financial value of each individual college degree.

Similar to the earnings of college graduates, typical counterfactual earnings start at a relatively low level but rise throughout the career. Despite lacking a college degree, high school graduates gain experience and skills as they work in the labor market. Unlike college graduates, they can start building this workforce experience at age 18 rather than age 23. By age 48, typical counterfactual earnings exceed $45,000 per year.

For the most part, students’ earnings with a degree exceed their earnings without a degree. At age 45, the typical college graduate out-earns her counterfactual self by over $25,000 per year. But there are exceptions. About 7% of programs, mostly in art, music, and religion, have higher counterfactual earnings at age 45. In other words, these programs would not pay off even if there were no other costs to college.

But there are other costs to college. Most students cannot work full-time while they are enrolled. Earning a bachelor’s degree means spending time out of the labor force. Every year a student spends in college costs her around $24,000 in lost earnings, according to my estimates.

Students must also pay tuition while enrolled. To calculate ROI, I use net tuition after grants and scholarships. Financial aid programs such as the Pell Grant, along with institutional scholarships, significantly reduce tuition charges for most students. The typical student does not pay the “sticker price” tuition rate advertised on colleges’ websites. The average public college in the Scorecard dataset charges net tuition of $4,000 per year to state resident students, while the average private nonprofit college charges nearly $15,000.

I do not count living expenses as a “cost” of college, since students would have to pay for food and rent regardless of whether they attend college. Living expenses may still represent a significant barrier for some students, who may struggle to come up with the cash liquidity to meet their needs if they are not working full-time. But they do not represent an  extra  cost associated with college and thus should not figure into the ROI calculation. I do, however, include students’ estimated spending on books and equipment as a cost of college.

ROI for 30,000 bachelor’s degrees

I define ROI as the present discounted value of lifetime earnings with a college degree, minus the present discounted value of counterfactual earnings (including earnings while enrolled in college), minus the cost of tuition, required fees, books, and equipment. For the initial ROI calculation, I assume the student spends exactly four years in college, graduates, starts working at age 23, and retires at age 65. (We’ll relax some of these assumptions in a bit.)

Consider the physics program at the University of Maryland-College Park. I estimate that over the course of her career, a Maryland physics graduate will earn approximately $1.79 million in present value terms. The counterfactual earnings for this student, including the foregone earnings while he or she is enrolled in school, amount to $1.23 million in present value terms. Net tuition is $18,000 over four years. The ROI for this program is equivalent to lifetime earnings minus counterfactual earnings minus tuition costs, or approximately $545,000. In other words, Maryland’s physics degree has a net economic value of $545,000 over its graduates’ lifetimes.

Present value of lifetime earnings with the degree:  $1,786,867

Subtract present value of counterfactual lifetime earnings (including earnings while enrolled):  $1,223,332

Subtract present value of tuition, fees, books, and equipment:  $18,056

Return on investment (ROI):  $545,478

Weighted by student counts, the median ROI across all 30,000 bachelor’s degree programs in the College Scorecard is $306,000. In other words, the median bachelor’s degree has a net financial value of just over $300,000, after accounting for tuition and opportunity cost.

But the median conceals substantial variation. Sixteen percent of programs have negative ROI. These programs have no financial value for their graduates after accounting for tuition and opportunity cost. At the other end of the spectrum, 12% of programs have ROI of $1 million or more. Students who graduate with one of these degrees can expect a seven-figure lifetime payoff.

Put simply, choosing a bachelor’s degree program is the most important financial decision many people will ever make.

ROI varies substantially by major. Sixty-nine percent of engineering programs deliver a lifetime payoff of $1 million or more, and 97% have ROI of at least $500,000. Another strong major is computer science, where 85% of programs have ROI exceeding half a million dollars. Programs in transportation, construction, and architecture also deliver handsome rewards to their students: 77% have a payoff above $500,000.

But plenty of programs have ROI that students might consider disappointing. 68 percent of programs in visual arts and music have negative ROI, meaning graduates are worse off financially for having received their degree. A majority of programs in philosophy and religious studies leave their students in the red, along with 28% of programs in psychology, English, liberal arts, and humanities.

A surprisingly high 31% of programs in life sciences and biology have negative ROI. The most likely explanation is that many students pursue these majors in preparation for a lucrative graduate degree in medicine. The ROI analysis in this report considers returns on the bachelor’s degree alone. If biology students don’t use their degree as a springboard for medical school, they will typically see disappointing returns. Preparation for a graduate degree is certainly important for students to consider when choosing a major, but it is beyond the scope of the ROI estimates presented here. (A forthcoming report will calculate ROI for graduate degrees.)

It’s possible to calculate not just how much each college degree is worth, financially, but how long it will take for a student to recoup the costs of college. In other words, how many years must a student work before he or she “breaks even” on her degree? I calculate that a majority of new college graduates will recoup the costs of their degree within eleven years of finishing college, assuming once again that they graduate on-time.

But the results once again look different depending on field of study. Within ten years of graduating college, students in 99% of engineering programs have fully recovered the costs of college. But the same is true for just 33% of communications and journalism programs and a paltry 2% of psychology programs. The median psychology student has to wait for 23 years before ROI turns positive. After 40 years, only 71% of psychology programs have reached positive ROI.

Even psychology looks good, however, compared to majors at the back of the pack. By the time they reach retirement age, students in just 40% of programs in philosophy and religious studies have recovered their college costs. The same is true for just 32% of programs in art and music.

One word of caution: the estimates reported here are for the median graduate of each program. If a program has negative ROI, that means its median graduate receives no financial return from her degree. However, it is possible that some graduates of that program will see positive returns, though they will be in the minority. Similarly, a program with positive overall ROI may still produce some graduates for whom the degree was not financially worthwhile. While outcomes for the median graduate are the best way to analyze the overall worth of a college degree, prospective students should remember that exceptions to the norm can and do occur.

What if some students don’t finish college?

The above figures assume that pursuing a college degree is riskless for the student. In practice, college is an extremely risky investment. Many students take longer than the standard four years to finish college, and  between a quarter and a third  of four-year college students never get their degrees at all. Dropping out leaves students responsible for many of the costs of college, but they usually receive none of the benefits of the degree.

Students in doubt about their ability to finish college on time (or finish college at all) should consider not just the financial value of various degrees, but their chance of on-time graduation. Some schools, such as Pomona College and Georgetown University, have on-time graduation rates above 90%. But nearly a quarter of schools in the Scorecard dataset have an on-time graduation rate below 20%.

While choice of major is arguably more important than choice of college for the “clean” measure of ROI, in which all students are assumed to graduate on time, institution quality is a key determinant of graduation rates, which in turn have a major effect on the true ROI of each program. A program with high post-graduation earnings but a middling completion rate may have the same true ROI as a program with moderate earnings but a strong completion rate.

Assuming all students finish their degrees in four years, just 16% of programs have negative ROI. But if students take five years to finish, then 21% of programs have negative ROI. Assuming completion in six years, the value of the degree is negative for 27% of programs. Naturally, among students who drop out, 100% of programs have negative ROI. I estimate that a student who drops out of college will typically lose over $100,000 in tuition payments and foregone earnings.

Using institutions’ reported completion outcomes and making appropriate allowances for transfer students, I adjust ROI for each program in the College Scorecard to account for the risk of noncompletion or extra years of study. Median ROI drops from $306,000 before the completion adjustment to just $129,000 after the adjustment. These results suggest that college is still a good bet  on average , but that’s not true for every program.

With the completion adjustment, 28% of programs show negative ROI. Over 3,000 programs flip from positive ROI to negative ROI after applying the adjustment. Many of these are in fields with marginally positive earnings outcomes, such as psychology, education, and public administration.

The case of for-profit colleges is illustrative. For-profit schools often provide education in career-oriented fields such as business and nursing. As a result, the “clean” ROI for for-profit colleges is higher than it is for public and private nonprofit schools, which are weighed down by low-value programs such as English literature. But for-profit colleges also have extremely poor completion outcomes. The  on-time graduation rate  at for-profits is just 19%, compared to 41% at public institutions and 57% at private nonprofits.

After making the completion adjustment, 55% of programs at for-profit colleges have negative ROI, compared to 24% of programs at public institutions and 30% of programs at private nonprofits. While private nonprofits have more negative-ROI programs than public colleges, they also represent a disproportionate share of high-ROI programs: 25% of programs at private nonprofits have ROI above $500,000, compared to 17% of programs at public institutions and 14% at for-profits.

The completion adjustment turns some programs from sure bets into question marks. Without adjusting for completion rates, fewer than 2% of programs in business, finance, and management have negative ROI. But after the adjustment, nearly 10% of these programs don’t pay off.

Psychology already has questionable value as a major before the completion adjustment (28% of programs don’t pay off). But when accounting for completion rates, a majority of psychology programs (58%) are negative-ROI. Even for very lucrative majors, the completion adjustment reduces the estimated payoff. Sixty-eight percent of engineering programs have ROI above $1 million before the adjustment, compared to just 22% of engineering programs after the adjustment.

Prospective students often wonder whether paying for a more expensive college is worth the cost. If earnings outcomes are equal, then higher tuition means lower ROI. But in practice, more expensive colleges often have higher graduation rates and access to professional networks that can raise earnings and ROI. The question is whether these beneficial effects make up for the higher tuition.

Programs at the most expensive schools (those with net tuition above $12,700) have a median completion-adjusted ROI of $198,000, compared to $129,000 for all programs. On average, the higher payoff from more expensive schools is enough to make the heftier tuition bill worth it.

But there are exceptions. Twenty-eight percent of programs at the most expensive schools still have negative ROI. High tuition is therefore no guarantee of quality, as  consumers sometimes assume . Major is the most important factor. At the most expensive schools, 81% of arts and music programs and 62% of psychology programs have negative ROI. While attending a more expensive school might boost ROI at the margins — particularly if that school has stronger graduation rates — it generally won’t salvage the financial value of a degree in the wrong field.

Moreover, 15% of programs at the cheapest schools (those with net tuition below $2,000) have a payoff above $500,000. At these inexpensive colleges, 82% of engineering programs, 51% of computer science programs, and 37% of health and nursing programs net their graduates more than half a million dollars.

Attending a very elite school  and  choosing the right field often has a significant payoff. The best program anywhere in the United States is the computer science major at the California Institute of Technology. Graduates of this well-regarded program can expect an ROI of $4.41 million over the course of their careers. Not far behind is the finance major at the University of Pennsylvania’s famous Wharton School, where lifetime ROI is $4.35 million.

The top 25 programs all have an ROI above $2.7 million. Twelve are in computer science, five are in engineering, three are in business or finance, two are in mathematics, one is in economics, and the remaining two are specialized programs. Twenty-four programs are at private nonprofit universities (the exception is the University of California-Berkeley’s electrical engineering major). Almost all the universities appearing in the top 25 are considered elite colleges, which suggests that access to these schools’ professional networks is an important determinant of earnings at the very top.

But some schools without a powerful name brand can still offer excellent financial returns if students know where to look. Touro College in New York places 284th on the  U.S. News and World Report  College Rankings, but graduates of its health sciences program can expect a lifetime ROI of $2.27 million.

Though elite colleges dominate the list of top programs in the country, attending an elite school is no golden ticket. Over 100 programs at colleges with an acceptance rate below 20% have negative ROI. Several  U.S. News  juggernauts such as Harvard, Penn, and Chicago all offer at least one program that leaves its students financially worse off.

At Harvard University, students who major in ethnic and gender studies can expect an ROI of  negative  $47,000. The film and photographic arts program at the University of Pennsylvania has an ROI of negative $140,000. Seventeen different programs at New York University have negative ROI, with the worst among them (music) leaving students over $500,000 in the hole.

While major is the most important determinant of ROI, there are exceptions to the trend. A handful of psychology programs have respectable ROI, particularly those oriented towards research and experimental psychology. The programs at Harvard University, Amherst College, and the University of Chicago all deliver payoffs of $800,000 or more.

Even in the arts, there are diamonds in the rough. Michigan Technological University operates a program in drama and stagecraft that delivers ROI of $795,000. Music students at the University of Texas-Austin can expect an ROI of $586,000. Two philosophy programs (the University of Pennsylvania and Dartmouth College) each have an ROI above $1 million.

Find the ROI for your college and major in the table below.

What is ROI relative to the full cost of education?

Most colleges do not charge students the full cost of their education. Net tuition at most colleges is significantly lower than underlying spending per student, meaning most students get a subsidy of one form or another. Federal and state governments provide students with Pell Grants and other financial aid to subsidize students’ education. Public institutions get direct appropriations from state governments, which reduce tuition charges. Some schools have endowments or generous private donors to draw upon for revenue. Foreign students and graduate students pay higher tuition rates and cross-subsidize domestic undergraduates, who are the focus of this analysis.

As a result, the average public college in the Scorecard dataset spends over $21,000 per full-time equivalent student on education-related expenditures. (Education-related expenditures include spending on instruction and administration, but not research, dormitories, dining halls, or hospitals.) Despite the heavy cost of education, net tuition for in-state undergraduates is just over $4,000. Even private nonprofit universities, which do not receive direct appropriations, still subsidize their undergraduates: per-student spending exceeds $29,000 but net tuition is just under $15,000.

This report’s estimates of ROI incorporate net tuition as the direct cost of college, as students should want to know ROI based on the costs that they and their families face. But other stakeholders, such as policymakers, trustees, donors, and college administrators, may wish to incorporate the full underlying cost of college into the ROI calculation.

Because spending exceeds tuition at most schools, a program that has positive ROI with respect to net tuition may have negative ROI with respect to spending. In other words, the positive ROI of some degrees may be an illusion facilitated by subsidies, rather than a reflection of the degrees’ inherent value. A program that delivers a positive earnings payoff only with a significant outside subsidy may not be worth subsidizing.

The median program in the Scorecard has an ROI of $129,000 when ROI is calculated with respect to net tuition (including the completion rate adjustment). But when ROI is calculated with respect to underlying spending, the median program’s payoff drops to just $77,000. While a majority of degrees still justify their underlying costs, the return shrinks substantially.

Twenty-eight percent of programs have negative ROI when calculated with respect to net tuition. With respect to spending, the share of programs with no economic value rises to 37%. A majority of programs in several major categories — including liberal arts and humanities, public administration, and the social sciences — have negative ROI with respect to spending.

Of course, several fields largely survive the spending adjustment: a majority of programs in engineering still boast an ROI above $500,000. Most programs in computer science, economics, mathematics, health, and architecture maintain an ROI exceeding $250,000. Even if students were responsible for the full cost of their education, it would still be financially worthwhile to pursue one of these programs.

All else being equal, higher spending translates to lower ROI. But many institutions with high expenditures nevertheless maintain respectable ROI. Programs at institutions in the top quintile for spending ($27,400 per student or more) have a median ROI of $187,000, compared to $77,000 overall. The top spending category includes many elite private institutions, state flagship universities, and renowned research schools. These schools also tend to have strong graduation rates and access to high-wage professional networks, which may boost ROI.

But high spending is no guarantee of strong ROI. Nearly a third of programs at schools in the top spending quintile have negative ROI with respect to spending. It is possible that additional spending, if wisely invested, can improve ROI — particularly if that spending is targeted towards boosting graduation rates. But for too many programs, high institutional spending has not resulted in positive ROI.

Most young Americans say they want to get a college degree. But from a financial perspective, the choice of program is much more important than the decision to attend college at all. Some programs leave students worse off financially than if they’d never attended college at all, while others can increase net lifetime earnings by millions of dollars.

The estimates of ROI provided in this report can help students make better decisions about postsecondary education. The ROI estimates for all 30,000 programs are available in the tables above and for  download here . The results also offer some broad takeaways for students, other stakeholders, and those interested in higher education policy.

Major is the most important factor.  College rankings like the  U.S. News and World Report  emphasize choice of institution. But from a financial perspective, choice of major is the more important consideration. Major alone explains nearly half the variation in ROI. Students will have a much greater chance of financial success if they study engineering, computer science, nursing, or economics, rather than art, music, religion, psychology, or education.

This isn’t to say that lower-earning majors are worthless. Society needs artists and musicians. But low incomes for these majors signal a supply-demand mismatch. Universities are producing too many art majors and too few engineering majors relative to the number of jobs available in each of these fields. As a result, employers bid up the wages of engineers while surplus artists flood the labor market. The answer is not to eliminate low-earning majors nationwide, but to reduce their scale.

Elite institutions can pay off — but not always.  Should you pay more to attend a fancy private school? Sometimes. The very best programs in the country are usually located at “elite” schools. These schools may offer more supports to boost completion rates, and graduates of elite colleges also have access to professional networks that supply lucrative job opportunities. Pricier tuition can be worth the money if expensive colleges can deliver higher earnings.

But elite schools are not a golden ticket. Even at Ivy League schools, there are several programs with negative ROI. The choice of major matters more. Engineering and computer science programs at schools without powerful brand names almost always have higher ROI than film or gender studies programs in the Ivy League.

Many bachelor’s degree programs don’t make sense, financially.  Having a bachelor’s degree is usually better than not having a bachelor’s degree, even if the degree comes with $30,000 of student debt. But after accounting for mediocre completion rates and high underlying spending, many bachelor’s degree programs don’t look as good. Thirty-seven percent of programs do not deliver a financial return when adjusting for spending and completion. Another 32% have a lifetime ROI below $250,000.

Mediocre or nonexistent ROI suggests a misallocation of resources. It is likely that many of the students in programs with poor ROI might be better served if those resources were shifted to other forms of postsecondary training, such as apprenticeships, vocational schools, or career-oriented associate’s degrees. As students do not directly fund most of their own education, there is a role for policymakers in such a reallocation of funding.

Granted, many bachelor’s degrees have nonfinancial benefits, and students should certainly take those into account when choosing a program. There are also social benefits to some degrees. The engineers who developed the iPhone probably captured only a small fraction of the social value they created. But it’s likely that degrees which generate large social benefits also come with large private rewards. The idea that most negative-ROI programs are generating enough “social benefits” to justify themselves is doubtful. The degrees with large social benefits probably also have large private ROI.

Moreover, bachelor’s degrees can generate social costs. As the share of the population with a college degree rises, employers request higher educational credentials from job candidates, even though the underlying skills required to do those jobs have not changed. It follows that some college graduates simply take jobs away from non-college graduates. This displacement effect likely explains much of the college wage premium. While college graduates benefit, the economy does not grow overall.

For prospective college students, though, those considerations are largely beyond the immediate decisions lying ahead. I hope the estimates of ROI in this paper will empower students and their families to make more informed decisions. The most important financial question they can answer is not whether college is worth it, but how they can make college worth it.

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Delaware certified bogus ‘doctorate degree’ in psychology for school counselor charged with raping 5-year-old girl

State education officials now admit they erred in verifying that arnold has advanced degrees in psychology from ohio university, which he never attended..

• Cris Barrish

Delaware's Department of Education certified John Ervin Arnold's bogus master's and doctoral degrees, and has launched an investigation to determine how the "error" happened. (Screenshot obtained by WHYY News)

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Arrest warrant details ‘horrific’ child sexual abuse allegations against Delaware elementary school counselor

The alleged crime did not involve a student in Brandywine School District, where psychologist John Arnold has provided students with emotional support since 2021.

3 weeks ago

Arnold never ‘attended or earned degree from Ohio University’

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Falls Township public works director charged with theft, forgery

A spokesperson from the Bucks County District Attorney’s Office said Lawson was arraigned Wednesday, with bail set at $100,000 unsecured.

2 former Penn State students plead guilty in 2017 fraternity hazing death

Brendan Young and Daniel Casey pleaded guilty to 14 counts of hazing and a single count of reckless endangerment.

Delaware high school athletic trainer charged with sexually abusing student

Jerry Sodano’s alleged crimes took place about five years ago. The longtime Seaford High employee is now on unpaid leave.

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Encore - What is it like to be face blind? With Joe DeGutis, PhD, and Sadie Dingfelder Speaking of Psychology

• Life Sciences

After a lifetime of thinking that she was just a little bit bad at remembering people, Sadie Dingfelder learned that she had prosopagnosia, a disorder more colloquially known as face blindness. Harvard psychologist Joe DeGutis, PhD, who runs the research study that Dingfelder participated in, joins her to discuss how people with face blindness see the world, why it’s such an interesting disorder to study, and promising treatments that his lab is exploring.

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• 2018, American Psychological Association

Congratulations Development Studies and Psychology! (HE Memo#Y2.54)

02 Aug 2024 | Office of the Vice President for Higher Education

HE Memo#Y2.54 2 August 2024

The Ateneo de Manila Community in Higher Education

[Sgd] Roberto Martin N. Galang, PhD Officer-in-Charge, Office of the Vice President for Higher Education

Congratulations Development Studies and Psychology! 

The Office of the President has informed us about the following actions/decisions of the Executive Committee of the Board of Trustees at its 28 June 2024 meeting:

• Approval of the creation of the Department of Development Studies within the School of Social Sciences
• Approval of the Master of Arts in Psychology degree program (for offering effective school year 2025-2026)
• Renaming of the Master in Organizational Psychology degree program to Master in Work Psychology (effective school year 2025-2026)

I would like to congratulate the administrators, faculty, and staff of the Development Studies Program who continue to find ways to grow and strengthen its programs. The Development Studies Program shall now be referred to as the Department of Development Studies.

Congratulations are also in order for the Psychology Department for its new and revamped graduate programs.

Thank you for your continued commitment to the mission of Higher Education.

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REGISTER NOW: “Rewilding the City”, AUN-EEC 2024 Conference on Ecological Education and Culture

Rewilding the City 2024 AUN-EEC Conference on Ecological Education and Culture 14 August 2024 (Wednesday) | 9:00am – 5:00pm (GMT +8) Online via Zoom Registration

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