What can I do with a Master's degree vs. a Doctoral degree?
Doctoral graduates: As might be expected, the highest paid and greatest range of jobs in psychology are available to doctoral graduates. Although the number of doctoral graduates has at least doubled over the past 12 years, the demand continues to meet the supply. Furthermore, unemployment and underemployment rates for doctoral psychologists are slightly below the average for other scientists and engineers. Few drop out of the field.
The greatest expansion of career opportunities for doctoral psychologists in the last decade has been in the subfields of clinical, counseling, school, health, industrial, and educational psychology. As a consequence, proportionally fewer new doctorates have headed into faculty positions as compared with the past.
Master's graduates: The number of psychology students who pursue a terminal master's degree has increased sixfold since 1960. Competition for positions in psychology-related jobs is keen; nevertheless, approximately one-third of those with a master's degree in psychology find such work. Many handle research and data collection and analysis in universities, government, and private companies. Others find jobs in health, industry, and education, the primary work settings for psychology professionals with master's degrees. With growing recognition of the role of the psychologist in the community, more jobs for psychologists with master's degrees may also become available in community mental health centers.
Psychologists with master's degrees often work under the direction of a doctoral psychologist, especially in clinical, counseling, school, and testing and measurement psychology.
Some jobs in industry, for example, in organizational development and survey research, are held by both doctoral- and master's-level graduates. But industry and government jobs in compensation, training, data analysis, and general personnel issues are often filled by professionals with master's degrees in psychology.
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