Industrial & Organizational Psychology Salary Ranges
As the world of business continues to shift in new directions, workplace norms and standards are also changing. New corporate structures and hierarchies are being tested, and a serious discussion on human behavior in the workplace is beginning. This has fueled the growth of industrial-organizational psychology, or the study of human workplace behavior. Because this is such a new field, questions arise about topics such as job growth and industrial-organizational psychology salary. What education is required? What skills are needed? Is the field lucrative? These are all important questions as you consider if the field is right for you.
Industrial-Organizational Psychology Jobs
Industrial-organizational psychology involves the use of psychological principles in navigating personnel, administration, management, sales and even marketing challenges. Many of these professionals are entering the human resources field and are involved in employee hiring, training, hierarchy management and even policy planning.
Here are a few common job titles someone in this field may have:
- Management consultant
- Performance manager
- Human resource manager
- Training and development specialist
- Survey researcher
- Personnel researcher
- Talent management
Field Salary Information
Although the Bureau of Labor Statistics does not have full salary information on the specific job titles we have mentioned, they do have information for the entire field. Professionals in industrial-organizational psychology have a median annual wage of $80,330. The top quarter of salaries reaches beyond $100,000.
Furthermore, the BLS has listed this field as one with a bright future. By 2022 the field is predicted to grow by 22 percent, a pace much higher than the national average.
Education Level
One major factor that can affect your possible salary is how much education you have attained. The National Association of Colleges and Employers has reported that the average starting salary of someone with a master’s degree is approximately 20 percent higher than someone with a bachelor’s degree. This can significantly impact not only your current financial situation, but also your salary in the future. Investing in your education can pay big dividends.
Bachelor’s Degree in Industrial-Organizational Psychology
According to Payscale, a salary reporting website, the median salary of a professional with just a bachelor’s degree in the field is $58,429. The median starting salary for this degree is $42,740, and with experience salaries can reach upwards of $87,000.
Master’s Degree in Industrial-Organizational Psychology
For graduate degrees, the median salary of a master’s recipient is $76,405. The median starting salary is $58,000. With extended experience, professionals can see salaries above six figures, with field veterans of 20 years or more reporting salaries of $120,000.
Experience Matters
For all fields, how much experience you have can influence your salary, and the industrial-organizational psychology field is no different, with higher salaries coming to those who have worked the longest.
Bachelor’s degree holders have a median starting salary of $42,750. After five years that total increases to $58,429 annually, and employees in the field for over a decade have a median salary of $75,497. For those who have worked for over 20 years, Payscale reports a median annual salary of $87,060.
With a master’s degree, the median starting salary is $58,000. After five years that salary will grow to around $69,722. After 10 years, Payscale reports an increase to $82,647, and after 20 years professionals are seeing a median salary of $122,555.
Location
Some employees receive more for the same position in a different place. This can be because of a strong need for these professionals or partially because of an increase in the cost of living. It can be to the benefit of someone entering industrial-organizational psychology to find a location that is beneficial to them.
Cities with I-O Psychology Salaries
Higher Than the National Average
- San Francisco 29%
- New York 25%
- Washington 20%
- Los Angeles 17%
- Minneapolis 7%
Cities with I-O Psychology Salaries Below the National Average
- Orlando 15%
- San Antonio 11%
- Louis 15%
- Austin 9%
- Phoenix 2%
The Next Steps
At Touro University Worldwide, we offer a window into the growing field of industrial-organizational psychology. Our Master of Arts in Industrial and Organizational Psychology is taught by experienced faculty members who offer real-world expertise you’ll use in your new career. With our flexible and convenient online format, you can work around your schedule. Upon graduation, you will have the skills and credentials needed to excel in the workplace.
Create a brighter future with a rewarding career in industrial-organizational psychology with a degree from TUW. Begin your journey and learn more about our online industrial-organizational psychology program today.
