What is the Salary Outlook for Masters in Organizational Psychology Grads?
For a business to be successful, the organization must take into account certain aspects of human behavior and how they can impact productivity. This is the idea behind the field of organizational psychology. Organizational psychologists, also known as industrial-organizational psychologists, use their research to help businesses increase their overall efficiency and productivity. They might help select employees who will be best suited for particular tasks, or they may administer surveys to help learn more about client and employee opinions. All of this makes the organization as a whole operate more smoothly.
About Organizational Psychology
The field of organizational psychology can be quite diverse, because it involves the intersection of business and psychology. Within each of these two disciplines there are already a number of different disciplines that students can choose from. This can be an exciting Master's degree to pursue, because it allows students to choose the aspects of business and psychology that they are most interested in. Some may prefer to explore the human resources and psychology, while others will prefer to take a closer look at the interaction between humans and technology. Within any given organization, organization psychologists perform the following functions in a typical workday:
- Employee training
- Conflict resolution
- Employee counseling
- Leadership & development consulting
- Human resources activities
- Administration of surveys
- Statistics analysis
- Market research and product development
What Job Leads To
There are many different types of positions that a graduate with a master's degree in organizational psychology could pursue. This could include jobs within the academic, government, research public, and private sectors.
- Human Resources Manager
- Organizational Psychology Instructor
- Market Researcher
- Efficiency Consultant
- Technology Consultant
It's the job of the organizational psychologist to help bridge the gaps between different parts of any organization. They help assist with training and can serve as a liaison between employees, or between management and employees. These are but a few types of positions that someone with a degree in this field could pursue.
According to statistics provided by the Bureau of Labor Statistics, the mean salary for graduates with a master's degree in organizational psychology is $56,794. This is only a starting salary, however. With experience, salary expectations increase dramatically. Students who go on to gain work experience and participate in continuing education to keep their skills sharp can earn far more.
- Graduates who work in the business and management world earn a mean salary of $117,670
- Graduates who work in academia earn a mean salary of $70,012
According to the Society for Industrial and Organizational Psychology, the top 5% of earners in this field earn anywhere from $250,000 to several million dollars each year. Those who work at a high level for a global corporation will earn the most. The salary will vary depending on experience, the type of position that a graduate holds, whether they are self-employed or employed full-time, and whether or not they pursue ongoing education.
The field of psychology in general continues to experience a high rate of growth, and organizational psychology is one of the most rapid of all disciplines. The Bureau of Labor Statistics expects that the volume of open positions for organizational psychology graduates will grow at a pace of 26% up until the year 2018. This same organization predicts that the demand for qualified graduates will eventually outweigh the supply available in the decade to come, making this a solid subject to study for those who want to earn a lucrative salary in a highly respected field.