According to several job surveys conducted, the salaries of forensic psychologist have shown impressive growth in the last decade. There would be approximately 15 % of salary income growth predicted till the year 2015. Forensic psychology is one of the fastest growing subfield of psychology.
Psychologist salary indicators
The salary of a forensic psychologist greatly depends on the economy of the town where an individual is employed in. The larger cities like New York would fetch greater salaries than the smaller towns. Apart from these, the qualification, training and work experience play a vital role in determining pay packages. The industries like management and technical consulting services, offices of health professionals, psychiatric and correctional centers, child day care services, general medical and surgical hospitals pay higher salaries. Individuals after gaining considerable experience can set up a private practice and fetch greater salaries. The prospects of higher salary only increases as you complete higher education in forensic psychology.
Salary by years of experience
According to the US bureau of labor statistics, the average salary of a forensic psychologist with experience of 0 to 1 years is $53,500 per year. An experience of more than 2 years fetches an average salary of $57,000 a year. An individual with 5 to 8 years experience can draw a salary up to $66,000 per year. A very senior forensic professional with more than 19 years of experience earn an average of $74,988 as salary. While salaries of people with 20 plus years experience range up to $86,000. Therefore, even if you start with a lower salary, you can take comfort from the fact that it will definitely increase once you gain more experience and skills.
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Salaries by place of employment
Depending on the place of employment, an individual could expect an average salary ranging from $57,000 to $64,000 per year. State and local government bodies pay an average salary of $64,000 a year, private firms and self-employed individuals earn up to $63,000 per year, big industries and companies pay an average salary of $61,000 per year, general hospitals and psychiatric/substance abuse centers pay a salary of $62,600 per year, federal government pay up to $60,000 while non-profit organization pay a salary of $56,900 per year. Although non-profit organizations pay less when compared to other employers, it's a great place to build experience especially for those who are new to this field.
Salaries by qualification
The average salary of an individual holding a master's degree is $59,440. While a doctorate degree may fetch a salary range of $53,500 to $93,000 per year. The key statistics shows forensic psychologist jobs are more preferred by women and comprise 63% of the job population. The very latest national salary data shows that a forensic psychologists earn a salary anywhere from $45,122 to $85,429 per year. To get a higher salary, it would make sense to build on your qualifications by doing additional courses and certifications. This way you are better equipped to ask for a raise!