Psychologist Salary Guide

The United States Bureau of Labor Statistics reports that the average annual psychologist salary is $85,330 per year. Also, The US Bureau of Labor Statistics expects the job outlook for psychologists to grow 6% over the next decade, a faster rate compared to all other professions.

Locum tenens psychologists can make upwards of $111 per hour on average, however, there are many factors that impact rates including location, years of experience, and the level of demand.

If you were to extrapolate that rate over a year (at 40 hours per week), the average locum salary comes out to around $223,880. 

That means locum tenens psychologists can make up to 162% more than the average provider. However, making direct salary comparisons can be complicated. While perm psychologists are more likely to be salaried, locum tenens psychologists are independent contractors earning an hourly rate. This rate can vary based on which assignments locum tenens psychologist choose to take in a year. 

Because locum tenens psychologists are paid by the hour, the hours they work are directly reflected in their pay, while a salaried psychologist’s additional hours may not be reflected in their salary.

Lastly, paid time off and insurance may be reflected in the perm psychologists salary structure, but locum tenens providers do have options when it comes to health insurance. 

The US Bureau of Labor Statistics shares the most recent breakdown of salaries of psychologists by state. While the BLS was not able to collect data for all 50 states, the top 5 highest paying states for Psychologists salary include:

•  Nevada (Psychologist Salary of $105,240– $120,220)
•  California (Psychologist Salary of $105,240– $120,220)
•  Oregon (Psychologist Salary of $105,240– $120,220)
•  Virginia (Psychologist Salary of $105,240– $120,220)
•  New Hampshire (Psychologist Salary of $105,240– $120,220)

Psychologists fall into the medium salary range for healthcare professionals. The top five specialties (plastic surgery, orthopedics, cardiology, urology, gastroenterology) all reported annual income of greater than $500,000.

Healthcare professionals salaries have increased over the past few years, the average increasing from $83,640 in 2019 to $96,770 in 2022. Based on this trend, psychologists can expect to see an increase in salaries in 2024.