A limited licensed psychologist or LLP can treat clients with mental or emotional problems, but the services that they provide are limited until they complete doctoral studies. Industrial-organizational psychologists, on the other hand, are limited license psychologists who perform limited services because they typically have earned a master’s degree in psychology and may have no intention of completing doctoral studies; they tend to be the highest-paid psychologists in their profession, however.
If you are interested in becoming an industrial-organizational psychologists or conducting research, a master’s in psychology may be all you need. Those interested should pursue a graduate degree in psychology, which typically takes two years to complete. Some graduate programs require that students complete undergraduate studies in psychology, while others will admit students who have done some coursework in psychology and completed some science and math courses.
Although a limited licensed psychologist typically earns a master’s degree, they can command higher salaries than psychologists with doctorate degrees. For instance, whereas clinical, counseling and school psychologists earn a median salary of $66,810 a year, on average, industrial-organizational psychologists earn a median salary of $87,330, according to the Bureau of Labor Statistics. The industrial-organizational psychologists’ salary range is between $49,230 and $166,400 a year, on average, but they can earn much more.
Limited licensed psychologists will find the highest salaries in the state of Minnesota. In Minnesota the limited licensed psychologists who work as industrial-organizational psychologists earn as much as $118,000 a year as an annual mean salary. A limited licensed psychologist in North Carolina can earn the second highest salary — $102,000, roughly. Limited licensed psychologists in Pennsylvania, Virginia and Massachusetts earn $94,670, $92,870 and $88,080, respectively.
Limited licensed psychologists enjoy the highest salaries in management and scientific and technical consulting. In the consulting industry, psychologists receive a mean annual salary of $159,000, on average. Psychologists working in research and development receive the second highest mean annual salaries, which is $83,050. State government and universities pay $71,320 and $69,650, respectively.
Best Opportunities for Employment
Limited licensed psychologists in the industrial organization field have the best opportunity for employment in Massachusetts. In Massachusetts, employment opportunities are roughly six times the national average. Maryland is the second best location for employment. Limited licensed psychologists living in Maryland experience employment opportunities almost four times the national average. Missouri, where employment opportunities are roughly twice the national average, follows. Whereas opportunities in Texas are slightly above the norm, they are near the national average in Ohio.