Psychology Degrees: Popular But Not Always Financially Rewarding for Student-Athletes

The rising interest in psychology degrees has been undeniable, with many students, including student-athletes, choosing this major to gain a deeper understanding of the human mind and mental health. However, as these future professionals embark on their academic journeys, they may quickly realize that the financial returns may not be as high as they had hoped.

Psychology has become an increasingly popular field of study, with over 140,000 bachelor’s degrees in psychology awarded in 2023. This surge in interest can be attributed to a variety of factors, including the growing openness surrounding mental health discussions, the popularity of online psychology influencers, and the increasing media portrayal of psychology-related themes. For student-athletes, pursuing psychology can feel like an opportunity to blend their passion for wellness with academic achievement. But while the personal and societal benefits of studying psychology are clear, student-athletes should consider the financial implications before making this decision.

The median early-career salary for psychology graduates hovers around $45,000, with a modest increase to $70,000 by mid-career. This wage, while decent, often falls short compared to other fields with similarly high levels of education, especially in comparison to the lucrative opportunities available in sectors like business, engineering, or computer science.

Dr. Ryan Sultan, a clinical psychologist who works closely with students, believes the surge in psychology majors is partly generational. “Younger generations are more comfortable discussing mental health, which drives their interest in psychology,” he says. “However, the field isn’t driven by financial rewards, but rather by a desire to understand human behavior and help others.”

Career strategist Patrice Williams Lindo notes that the trend toward psychology majors is particularly prevalent among Gen Z students, many of whom see mental health work as purposeful—even if it doesn’t guarantee high-paying positions immediately after graduation. “The rise of mental health awareness, particularly through social media platforms like TikTok, has made psychology degrees feel culturally significant and important,” Lindo adds. “But the reality is that, for student-athletes aiming to secure high-paying roles right after college, a psychology degree may not be the best option.”

While pursuing a career in psychology can offer intrinsic rewards, it often requires further education to truly unlock high-paying opportunities. A psychology bachelor’s degree alone rarely leads to high-paying roles, particularly in clinical settings. To become a licensed clinician, further education, training, and often years of experience are needed, leading many psychology majors to pursue graduate studies or allied fields, such as human resources or UX research.

Dr. Azadeh Weber, a clinical psychologist who transitioned into private practice after initially working in tech sales, explains that a bachelor’s degree in psychology is a stepping stone. “When I first graduated, I couldn’t find a job directly in the field, which led me to take on a job unrelated to my degree,” she recalls. “However, after returning to school and earning my doctorate in clinical psychology, I now run a successful private practice, earning a substantial income while also enjoying the flexibility to work part-time.”

For student-athletes, this story resonates, as the time commitment of their sport may limit their ability to fully pursue traditional career paths while in college. They may find that combining sports and psychology can require a delicate balance. “I chose psychology because I wanted to understand the mental side of sports performance,” says a current psychology major and student-athlete. “But the financial realities are something I’m learning to navigate. For me, it’s about helping people and being passionate about the field, even if the pay isn’t where I want it to be just yet.”

The takeaway for student-athletes is clear: while psychology offers personal fulfillment and societal impact, it’s crucial to understand the financial limitations and career paths associated with this degree. For those interested in pursuing a career in psychology, it may require further education or finding ways to apply the degree in non-clinical settings to ensure financial sustainability.