A Masters in Social Work is a more flexible degree when compared to a Masters in Counseling and/or Psychology. The U.S. Bureau of Labor Statistics suggests that workers with a doctoral or education specialist degree in clinical, counseling, and school psychology will find the strongest job opportunities. Is it worth getting a masters/PhD in clinical psychology? 1. Whether you’re just starting your bachelor’s, finishing up a master’s, or are mid-career you’ll want to take some specific steps to position yourself as a strong candidate. You could go to the library and take out every book related to neuroscience. You should only get one if you are fully funded (that is, if the place you're getting your PhD will pay your tuition for you and will pay your a living stipend on top of that). If you're a student who wants to go into financial services, you may be wondering whether it's worth spending the extra time and money to get a PhD. And to borrow an old business clich é, “time is money.” While scholarships and fellowships will help offset the the actual cost of graduate school (see question 4 for more on this), it’s worth considering the opportunity costs involved. Psychology Is People-Oriented . Bachelor’s degrees are the minimum educational level to enter into professional employment within this industry, and many positions require a graduate degree to practice. Open Ended Question. With an average salary from $70,000 to $100,000 (Bureau of Labor Statistics), a doctorate degree in educational psychology can help you launch a career in this important field. Examine your true motivation for wanting to earn a PhD and how the degree makes sense within your larger plan. During the financial crisis two or three years ago, I would have unequivocally advised staying in school. I will say (keep in mind I'm biased), I think the PhD is a better deal. It wasn't a "why didn't I get into a Ph.D. program" rant, but a personal story told with thoughtful insights. In fact, my experience has been nearly identical, and I would encourage any undergraduate student considering pursuing a Ph.D. in economics to take this reader's insights to heart. To get straight to the point: It wasn't worth it. Getting a PhD takes time and money to get done, and many people just don’t manage to go through it – the average dropout rate is 43% in doctoral programs. I want to know if the extra 4 years will be worth the time lost in the workforce. A friend’s father, a psychology professor at a large research institution, advised me to get published as soon as possible to help promote myself and gain more opportunities. If you want to be a psychologist, a Ph.D. is the best degree to have. Grad school takes time. The earnings premium for a PhD is 26%. By its very nature, psychology is a person-oriented profession. For example, if you want to do PP, you will likely not get your money's worth by completing a PhD since you already have an MA-level licensure. I received my PhD in Cognitive Psychology in August 2017 from an R1 university (I'm not going to identify the university right now). One, you do (normally) need to develop a decent PhD proposal before getting in touch with potential supervisors. What I would suggest is that you have a minor that is more job oriented or, better, go to trade school. Within the field there are many areas to select and it just depends on what interests you. Until the middle of the 19th century, psychology was widely regarded as a branch of philosophy. (3) How awesome do you actually have to be to get into a fully-funded clinical psych PhD program? Ph.D. degree allows a psychology student to specialize in a particular piece of the psychology field, such as child psychology, health psychology or sports psychology. 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