Student Resources Careers How Being a Psychologist Can Benefit You By Kendra Cherry Kendra Cherry Facebook Twitter Kendra Cherry, MS, is an author and educational consultant focused on helping students learn about psychology. Learn about our editorial process Updated on November 15, 2020 Fact checked Verywell Mind content is rigorously reviewed by a team of qualified and experienced fact checkers. Fact checkers review articles for factual accuracy, relevance, and timeliness. We rely on the most current and reputable sources, which are cited in the text and listed at the bottom of each article. Content is fact checked after it has been edited and before publication. Learn more. by Emily Swaim Fact checked by Emily Swaim LinkedIn Emily is a board-certified science editor who has worked with top digital publishing brands like Voices for Biodiversity, Study.com, GoodTherapy, Vox, and Verywell. Learn about our editorial process Print What are some of the key benefits of being a psychologist? It's a question that any student aspiring toward the career should ask themselves. Before you decide on this career, it is important to ask yourself whether or not you will enjoy a career as a psychologist. There are many benefits to being a psychologist. In addition to working in a field that you love, you will have the opportunity to explore new challenges, help people grow as individuals, and learn new things about yourself. 1 Find Rewards in Helping Others Peter Dazeley/Photographer's Choice/Getty Images One of the major attractions of becoming a psychologist is the opportunity to help others. If you enjoy working with people, a career in psychology is a great choice. While the job can be stressful at times, many psychologists describe their jobs as very gratifying and fulfilling. 2 Have a Flexible Work Schedule Albert Mollon / Moment / Getty Images According to the Occupational Outlook Handbook published by the U.S. Department of Labor, 29% of psychologists are self-employed with a median pay of around $79,000 per year. If you operate your own therapy practice, you can basically set your own hours. One big advantage of becoming a psychologist is that you can have a rewarding career and still have plenty of time to spend with your friends and family. Psychologists who work in hospitals or mental health offices may not have work schedules that are as flexible as their self-employed counterparts, but there are still plenty of opportunities to set hours that work with your life and family demands. 3 Earn a Potentially High Salary JGI/Jamie Grill / Blend Images / Getty Images While money isn't the only reason to choose a certain career, psychologists are generally well-compensated for their time and effort. On average, psychologists earn anywhere from $43,800 to $129,250 annually. Some individuals opt to work part-time, still earning a respectable income while leaving time to care for children and fulfill other personal obligations. It is important to note that these salaries reflect professionals who hold advanced degrees in their fields. Those who have earned an undergraduate degree in psychology cannot refer to themselves as psychologists, as it is a legally protected title. Those with bachelor's level degrees also face lower salaries and fewer job options than those with more training. 4 Run Your Own Business Eternity in an Instant/The Image Bank/Getty Images If you enjoy working for yourself and have an entrepreneurial spirit, becoming a psychologist can be an excellent career choice. Establishing your own private therapy practice gives you the opportunity to have full control over your career. According to the U.S. Department of Labor, an estimated 29% of all psychologists are self-employed. Psychologists working in specialized fields such as industrial-organizational psychology, educational psychology, and forensic psychology may also find opportunities for self-employment as private consultants. 5 Find Plenty of New Challenges Willie B. Thomas/Taxi/Getty Images The field of psychology is both diverse and challenging, so no matter which field you choose to pursue, you probably won't find yourself bored very often. Clinical psychologists face constant challenges from clients who need their help in solving problems. Other specialty areas such as sports psychology and forensic psychology face their own unique demands and obstacles. Being a psychologist might be stressful at times, but the profession presents intellectual challenges that keep the job interesting. 6 Meet a Wide Variety of People Tom Merton / Caiaimage / Getty Images If you enjoy working with people and helping them achieve their full potential, then becoming a psychologist can be extremely rewarding. While you will often face challenges, seeing your clients make real progress and work towards their goals can give you a feeling of accomplishment. Whether you are working exclusively with children, adults, married couples or families, you will have the opportunity to meet and help people from all walks of life. Was this page helpful? Thanks for your feedback! Ever wonder what your personality type means? Sign up to find out more in our Healthy Mind newsletter. Sign Up You're in! Thank you, {{form.email}}, for signing up. There was an error. Please try again. What are your concerns? Other Inaccurate Hard to Understand Submit 2 Sources Verywell Mind uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy. American Psychological Association. Careers in Psychology. Published December 2011. U.S. Department of Labor Statistics. Psychologists. Occupational Outlook Handbook. Modified September 4, 2019.