How Much Does a Degree in Organizational Psychology Cost?
Last Updated: February 01, 2022
Are you comfortable with statistics and do you enjoy research? Are you also interested in the field of Psychology? If you have a strong interest in psychology, as well as related subjects such as product design, computers, statistics and engineering, you will want to seriously consider an education and career in Organizational Psychology. This field is also, and perhaps more commonly, referred to as Industrial Organizational Psychology, or I-O Psychology. Most don't realize the tremendous variety of career opportunities within the specialization of Organizational Psychology. It certainly is not your stereotypical patient on a couch, therapist with a notepad scenario.
Industrial/Organizational Psychology is a field focused on: #
- The application of psychological theories and principles to practical, real-world settings and within organizations
- Evaluating companies and conducting leadership training
- Workplace diversity
- The study of worker attitudes and behavior
- Increasing workplace productivity and performance
- The physical and mental well being of employees
- Product design
What Type or Level of Degree Is Needed? #
An Industrial Organizational Psychologist should plan on completing at least a master's level education in Psychology and will find even more opportunity if completing a Doctorate. A Bachelor's degree in Psychology is not considered specifically to provide a complete specialized education in the area of I/O Psychology. Reliable data shows that the majority of career opportunities with a bachelor's in psychology are in the following positions:
- Top- and mid-level management and administration
- Social work
- Other management occupations
- Administrative positions
- Labor-relations, personnel and training
- Real estate, business services and insurance
The growing demand for I-O psychologists has led to an increase in the number of universities offering master's degrees in I-O psychology. There are many more opportunities and better paying jobs for candidates with Master's degrees:
- human resources
- positions in the private sector
Those with doctorate degrees in I-O psychology have the highest amount of opportunity and pay. Average salaries for I-O psychologists vary considerably based upon such factors as the type of degree held and place of employment. According to the Society for Industrial and Organizational Psychology (SIOP):
- Starting salary for Master's graduate - $38,750
- Starting salary for PhD graduate - $55,000
- Median salary - $80,000
- University professors - $70,000
- Private sector - $100,000
- Highest earners - Top 5% of SIOP members earn from $250,000 to several million each year.
What is the Cost of a degree in I/O Psychology? #
Average annual tuition cost to earn a Bachelor's Degree in Psychology: 2009-2010 average total costs (including tuition, fees, room and board) were as follows:
- Students attending four-year public colleges and universities in-state-$15,213 and out-of-state- $26,741
- Students at four-year private colleges and universities- $35,636
- Factor an additional $4,000 for textbooks, supplies, transportation and other miscellaneous expenses. Average annual tuition costs to earn a Master's Degree in Psychology:*
- In-state residents: $6,286
- Out-of-state residents: $14,373
- The average master's graduate owes approximately $30,000.
Average annual tuition costs to earn your Doctorate Degree in Psychology:** In-state residents: $6,819
- Out-of-state residents: $16,334
*Data on cost of Master's and Doctorate education in Psychology is according to a survey taken by the APA (American Psychological Association) in 2009, and based on average annual tuition costs for the 2007/2008 school year.
On average, tuition tends to increase about 8% per year.
The Council for Higher Education Accreditation (CHEA) is the organization that oversees accrediting agencies in the United States. You can check to see if a school's accreditation claims are legitimate and that it is in fact accredited by recognized U.S. accrediting organizations at www.chea.org.
How do I pay for the cost of education? #
There are a variety of options available to both young and old to assist in figuring out how to finance a college education. Each year the Federal Government disburses loans to thousands of learners. Additionally, one can find Grants and Scholarships to apply for, and what is music to most students' ears is that you do not have to pay them back. You can find a great deal of information on government loans, scholarships, grants, and military aid, and more at www.finaid.org. You can also find information on and apply for low interest federal loans at www.fasfa.edu.gov.
Find Organizational Psychology School Information #
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