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How do research psychologists get paid? And how well?

Where does the money come from- the institute you work for, funding from organizations that support your research, people and magazines that want to publicize your work? Do you get paid salary or commission? How much do you make a year? Is the income stable? Is the amount you are paid dependent on the field you work in, how valuable your finding are deemed to be, or something else?
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Mary’s Answer

This is a great question!

I am a PhD in I/O Psychology. I do a lot of research for a company. My role entails writing literature reviews and doing UX Research. The pay comes directly from them.

If I were faculty doing research, I would likely get part of my pay from grants. This would be in addition to regular pay.

Mary recommends the following next steps:

Visit SIOP.org to see some private research positions.
Thank you comment icon Thank you so much! Is this information applicable to research in the abnormal and developmental fields? Ray
Thank you comment icon Yes! I do lit reviews and then write college-level courses in human development. So, I believe this could apply to abnormal as well. Do you mean clinical psychology? If so, you can still do research independently and be paid in ways similar to what I mentioned above. Mary Mary Galloway, PhD
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Stephanie’s Answer

Research psychologists can work in university settings, government agencies, and for profit companies. When doing research at a university or government agency, research funding (including your salary) usually comes in the form of grant money from government agencies or private, not for profit foundations. Corporate research is typically funded in-house. Academic journals do NOT fund research projects; they simply publish their results. The baseline salary for a licensed psychologist is approximately $80,000/yr. This amount will vary based on the nature of work you are doing (clinical, research, industrial).

Stephanie recommends the following next steps:

For more specific salary information as well as information about what the demand for psychologists will be over the next 10 years, I suggest you peruse the Occupational Outlook Handbook published by the Bureau of Labor Statistics. The website is www.bls.gov/ooh/ once there you will find a search box in the top right corner. Enter the term "psychologist." The first of the search results should be "psychologists." Click here and ou will be led to a page that gives you general information about the profession, education required to become a psychologist, and how "in demand" the psychology professional will be over the next 10 years.
To drill down further to get information more specific to research psychology, click the Job Outlook tab from the menu at the top of the page. It may seem like a lot of information, but don't be intimidated by it. It provides a great deal of information.
Online job boards like Indeed.com are an overlooked resource for salary information. Simply visit the one of these job boards and search for job titles like research scientist, research psychologist, clinical research psychologist, etc. Not only can you get up to date salary information, but also you can get a sense of the kind of work they do on a daily basis. I hope all this is helpful. Best of luck!
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