Industrial-organizational psychologists employed in the United States generally report earning salaries in the range from $35,236 to $121,225 a year including bonuses and contributions from profit sharing according to the salary information provided by Payscale.
The basic annual salary for industrial-organizational psychologists working in the U.S. is typically in the range from $39,453 to $120,411. The yearly bonus earnings can amount to up to $11,000, and earnings from profit sharing are generally in the range from none to $10,500 a year based on Payscale’s salary data.
Average salary
The average salary for industrial-organizational psychologists working in the United States is $73,340 a year according to Payscale’s salary data, $68,000 according to the figures reported by Indeed, and $127,900 a year according to Recruiter.com.
The Bureau of Labor Statistics (BLS) reports a mean annual salary of $98,800 and a median yearly wage of $83,580 for this profession. 10% of the best paid industrial-organizational psychologists earn $168,020 a year or more, and the 10% on the lower end of the pay scale are paid $48,780 a year or less. The middle 50% of industrial-organizational psychologists earn salaries in the range from $63,050 to $115,550 a year based on the data provided by the BLS.
Psychologists’ average annual income varies from industry to industry. The salary figures reported by the BLS reveal that the industries with the highest average annual pay for industrial-organizational psychologists are management, scientific, and technical consulting services, where these professionals earn $125,980 a year on average, followed by scientific research and development services, where I/O psychologists are paid an average annual wage of $107,850, and offices of other health practitioners, where the median yearly salary for this occupation is $103,400.
Other industries with a high median yearly salary for I/O psychologists are elementary and secondary schools, where the average annual salary for this profession is $75,650, and state government, with an average yearly wage of $67,440. Industrial-organizational psychologists employed by universities, colleges, and professional schools earn $65,120 a year on average according to the BLS salary data.
The top paying industries for I/O psychologists, as reported by Recruiter.com, are health care and social assistance ($147,250), professional, scientific, and technical services ($134,970), manufacturing ($88,570), educational services ($78,610), and transportation and warehousing ($71,500).
Starting salary
The average starting salary for industrial-organizational psychologists in their first year on the job is typically in the range from $41,208 to $66,129 a year according to the salary figures reported by Payscale. I/O psychologists with less than a year of experience earn $1,000 a year on average in bonuses.
Salary range
Industrial-organizational psychologists working in the U.S. typically earn an annual pay in the range from $96,000 to $144,000 according to the salary data reported by Recruiter.com.
I/O psychologists’ yearly income can vary depending on a wide range of factors, including work experience. Based on the data reported by Payscale, I/O psychologists with 1 to 4 years of experience generally make between $35,752 and $95,708 a year, and those with 5 to 9 years of experience earn an average annual salary in the range from $50,000 to $132,500. Psychologists with 10 to 19 years of work experience under their belt typically report earning an income in the range from $45,781 to $127,743 a year, and professionals with 20 or more years of experience are generally paid between $85,000 and $158,233 a year.
Professionals working for companies or organizations that employ between 1 and 9 people typically report earning an annual pay in the range from $72,500 to $102,155 according to Payscale.
In terms of industry, I/O psychologists working in consulting generally make between $49,132 and $122,084 annually, and those employed in human resources (HR) consulting services typically earn a yearly income in the range from $29,361 to $168,512 based on the data reported by Payscale.
Men are generally paid between $37,500 and $147,892 annually while women report earning salaries in the range from $54,296 to $116,394 a year.
Salary by state
Industrial-organizational psychologists’ salaries depend on geographical location among other factors and can vary considerably from state to state. I/O psychologists employed in Florida generally make between $40,268 and $198,659 a year and those working in the District of Columbia are usually paid an income in the range from $82,424 to $110,000 a year. Professionals based in California earn salaries in the range from $61,042 to $112,020 a year, and those working in Texas are generally paid between $49,5000 and $85,000 annually according to Payscale’s salary data.
The Bureau of Labor Statistics (BLS) reveals that the states with the highest average annual income for these professionals are Virginia, where I/O psychologists earn $110,880 a year on average, followed by Minnesota, where the average annual salary for this occupation is $100,290, and New York, where the median pay for I/O psychology specialists is $89,980 a year. Psychologists working in Pennsylvania are paid $84,750 a year on average, those based in Ohio earn an average annual pay of $82,110, and professionals employed in Massachusetts earn around $72,610 a year according to the BLS salary data.
Based on the salary figures provided by Recruiter.com, the top paying states for industrial-organizational psychologists are Florida ($126,640), New York ($123,010), Minnesota ($118,110), North Carolina ($109,740), Missouri ($108,350), Pennsylvania ($102,040), and District of Columbia ($89,960).
The states with the lowest average annual income for this profession, as reported by Recruiter.com, are Illinois 8$64,270), South Carolina ($66,960), Texas ($68,220), Virginia ($83,410), Ohio ($84,680), and Massachusetts ($87,500).
Hourly wage
Industrial-organizational psychologists with 1 to 4 years of experience typically earn an hourly salary in the range from $7.64 to $38.39 according to Payscale’s salary statistics.
The Bureau of Labor Statistics (BLS) reports a mean hourly salary of $47.50 and a median hourly wage of $40.18 for this occupation. 10% of industrial-organizational psychologists earn $23.45 per hour or less, and the 10% on the higher end of the scale are paid $80.78 or more per hour. The middle 50% of I/O psychologists earn an hourly pay in the range from $30.31 to $55.55.
The hourly wage for industrial-organizational psychologists can vary considerably from industry to industry. Psychologists working at elementary and secondary schools earn $36.37 per hour on average, those employed by colleges, universities, and professional schools make $31.31 per hour on average, and professionals employed by the state government are offered an average hourly rate of $32.43.
I/O psychologists employed in management, scientific, and technical consulting services are paid $60.57 per hour on average, those working in scientific research and development services earn around $51.85 per hour, and professionals working at offices of other health practitioners earn an average hourly wage of $49.71 according to the salary data reported by the BLS.
The hourly rate for industrial-organizational psychologists also varies from state to state. Psychologists based in Minnesota make $48.22 per hour on average, those working in New York earn an average hourly salary of $43.26, and professionals employed in Massachusetts are paid around $34.91 per hour.
I/O psychologists employed in Pennsylvania earn $40.75 per hour on average, those working in Virginia are paid around $53.31 per hour, and professionals based in Ohio make $39.48 per hour on average according to the BLS salary figures.
Benefits
Along with their basic annual salary and yearly bonus earnings, industrial-organizational psychologists usually get a wide range of benefits and perks, and these can sometimes reflect their yearly pay.
I/O psychologists who have 401(k) plans as part of their benefits package generally earn salaries in the range from $40,971 to $109,802 a year, those who have paid vacations and holidays or paid sick leave typically make between $40,000 and $152,000 annually, and professionals who have life and disability insurance report earning a yearly income in the range from $41,901 to $154,078 according to Payscale.
Psychologists who get reimbursement for professional education, training, tuition, or certification generally earn between $49,749 and $136,000 annually, those who are allowed to dress casually at work are paid between $10,872 and $150,981 a year, and professionals who have a flexible work schedule typically earn an annual pay in the range from $60,750 to $117,447.
The most popular benefits and perks, as reported by Payscale, are 401(k), paid vacation, paid sick leave, life and disability insurance, casual dress and atmosphere at work, reimbursement for education, certification, and training, and flexible schedule.
Other income factors
Industrial-organizational psychologists’ annual income also varies depending on the type of employer. Psychologists employed by companies typically make between $39,355 and $120,805 annually and those working for private practices or firms are paid between $44,219 and $81,389 a year. Professionals employed by the federal government earn salaries in the range from $81,389 to $115,469 a year and those working for the state or local government typically report earning an annual salary in the range from $41,208 to $60,025 according to Payscale’s salary data.
Academic degree is another factor that can affect an industrial-organizational psychologist’s annual pay. Psychologists with a Doctorate (PhD) generally earn salaries in the range from $57,187 to $147,195 a year, and those with a Master of Science (MS) in Industrial Psychology are typically paid between $43,745 and $81,313 annually. Professionals with a PhD in Industrial Psychology make between $85,000 and $152,000 a year based on the salary figures reported by Payscale.