Besides being one of the most rewarding and fulfilling occupations, neuropsychology is also a pretty well paying career. According to studies, the salary of a neuropsychologist ranges from $77,500 to $80,700 yearly. Among the highest paid neuropsychologists professionals are organizational psychologists, forensic psychologists, engineering psychologists as well as clinical neuropsychologists. While some neuropsychologists are employed in medical facilities, about 40 percent are self-employed, and they manage their private practice. Though this can be quite risky the returns are quite high. The following are factors to consider when deciding the salary of a neuropsychologist.
All other factors held constant, the experience of a neuropsychologist is one of the major factors to consider when deciding the salary of a neuropsychologist. Nothing can substitute the experience of these professionals. Neuropsychologists who have been in the field for many years are paid much more than those who are straight from graduate school.
This is because, with time, the skills of any professional improve leading to more effectiveness in their work. With more experience, one can receive salary raises, promotions, and even better job offerings. Also, with time one develops a reputation among clients and peers which help you to grow.
Where you operate from is another determinant of the salary of neuropsychologists with the highest earning opportunities being in the large cities such as Chicago, San Francisco, New York, etc. while those that operate in rural areas making much less. Not only is the salary of a neuropsychologist working in the urban area higher but he also larger clientele.
However, though the earnings in urban cities such as New York is higher than rural areas like Nebraska and Lincoln, the cost of living is also way higher. Therefore, when choosing an area to operate from, consider both the cost of living as well as the earning potential.
Getting a degree expands your job opportunities as well as your earning potential, today most practicing neuropsychologists doctoral degree in neurology and psychology. The higher the level of education of a neuropsychology the higher his or her earning potentials.
Type of industry
The industry that a neuropsychologist work in also determines his earning potential. Example, organizational and industrial neuropsychologists working with large corporations are more likely to earn more compared to those working in clinical facilities.
However, there are some clinics and hospitals especially the privately own that pay higher than others.