Student Resources Careers How Being a Psychologist Can Benefit You By Kendra Cherry, MSEd Kendra Cherry, MSEd Kendra Cherry, MS, is a psychosocial rehabilitation specialist, psychology educator, and author of the "Everything Psychology Book." Learn about our editorial process Updated on August 04, 2023 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 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 Trending Videos Close this video player What are some of the key benefits of being a psychologist? It's a question students aspiring toward a psychology career may be asking themselves. Before you decide go down this career path, it is important to ask yourself whether or not you will enjoy being a psychologist. There are many benefits to being a psychologist. In addition to working in a field you hopefully love, you will also be given the opportunity to tackle challenges, help people grow as individuals, and learn new things about yourself. 1 Find Meaning 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 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 as flexible work schedules 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 between $43,800 to $129,250 annually. Some individuals opt to work part-time, and can still earn a respectable income while leaving time to care for children and fulfill other personal obligations. It is important to note 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 Encounter Plenty of New Challenges Willie B. Thomas/Taxi/Getty Images The field of psychology is both diverse and challenging, so no matter which type 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 will likely leave you feeling accomplished. 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. 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. U.S. Department of Labor Statistics. Psychologists. Occupational Outlook Handbook. By Kendra Cherry, MSEd Kendra Cherry, MS, is a psychosocial rehabilitation specialist, psychology educator, and author of the "Everything Psychology Book." See Our Editorial Process Meet Our Review Board Share Feedback Was this page helpful? Thanks for your feedback! What is your feedback? Helpful Report an Error Other Submit