Psychology, General

Is a Psychology degree worth it?

Across 992 bachelor's programs that report earnings, the median pays its graduates $28,486 a year after graduation, and the middle half pay between $25,760 and $31,145. The median for all majors is $37,050. At the median program, graduates who borrowed owe $25,532. Debt is 0.9x first-year earnings, which ranks 91st of 147 majors, where 1st carries the least debt for the pay.

Psychology graduates start out earning less than the typical graduate across all majors, and the major ranks in the lower half. The best-paying programs sit at schools that admit very few applicants, while most psychology programs admit most who apply, and those schools steer graduates into business, law, medicine and top graduate schools through organized career pipelines. That pay reflects the school more than the major, and one Silicon Valley campus pays well because its students find internships and jobs at nearby tech firms.

Most of the lowest-paying programs are in Puerto Rico, where federal wage data show every major occupational group pays below its national average. The Arecibo and Ponce campuses of the Pontifical Catholic University of Puerto Rico report identical figures, which suggests the numbers pool the university's campuses. First-year pay also understates the major, since a Georgetown analysis reported by the American Psychological Association found psychology majors earn graduate degrees more often than college graduates overall, often in counseling, social work or education.

These are earnings one year after graduating, for students who received federal aid. Majors that lead to graduate school, or to careers that start slowly, look worse here than they will ten years on.