Work

• Psychologists with Ph.D.'s can typically set their own hours and work from their own offices. However, they often work evenings and weekends to accommodate their patients. Those in health-care facilities can work some evenings and weekends, too, while those in schools usually work only during the day. As of May 2009, their median salary was $66,040 yearly, with a range of $39,270 to $109,470. This equals $31.75 per hour, with a range of $18.88 to $52.63. All amounts are the latest available from the Bureau of Labor Statistics.
  
  

Employers

• The biggest employers of psychologists with Ph.D.'s are elementary and secondary schools, comprising almost 42 percent of the available 98,330 jobs. The highest paying employers are management, scientific and technical consulting services, with means at $49.11 per hour or $102,150 per year for only 90 positions. Still among the top five are offices are other health practitioners, such as psychologists' offices, where compensation was lower at $41.96 per hour or $87,270 per year, but opportunities were greater at 11,410 jobs.
  
  

Locations

• The state with the highest pay for psychologists with Ph.D.'s was New Jersey at a mean $44.41 per hour or $92,380 per year for 3,450 positions. California, which was also among the top five for pay, offered lower means at $40.68 per hour or $84,600 per year, but higher employment with 14,530 jobs. For cities, the highest pay was in Greeley, Colorado, with mean compensation at $81.86 per hour or $170,280 per year.
  
  

Prospects

• The BLS predicts that jobs for psychologists with Ph.D.'s will increase by 11 percent from 2008 to 2018, which is about average for all professions. Demand for clinical psychologists is fueled by the need to stem rising health-care costs due to unhealthy behaviors such as smoking, alcoholism and obesity. Demand for school psychologists will grow due to awareness of how learning is affected by mental and behavioral problems such as bullying. Those with doctoral degrees in an applied specialty such as counseling or health should find the best prospects.