No money in Psychology? Here’s a closer look.

ᴾʰᵒᵗᵒ ᵉᵈⁱᵗᵉᵈ ⁱⁿ ᶜᵃⁿᵛᵃ

There’s no surprise that financial security is an important factor in life. This was largely displayed during the pandemic when it was a necessity to have money to cover for any emergencies. Some lost their jobs; many lost their lives to the virus. And an entire generation of youth, including myself, watched as the country plummeted to an economic crisis. At a young age, we understood that money is essential if you want to survive, even if that means succumbing to practicality.

For many Filipinos, having an undergraduate degree is a stepping stone to having a job and earning money. However, the question is, will your course grant you the career opportunities to reach your financial goals that will lead you to financial security?

With this, I have seen many incoming Psychology college students in the Philippines voicing out their anxiety about their future career paths. They want to have a high-earning job (who doesn’t?), but it seems out of reach in Psychology. As Facebook support groups in Psychology continue to emerge, the more Psych graduates share the realities of the real world. Either they end up with low-income jobs in the HR department, struggle in the clinical field, or start from scratch in a totally different industry. I completely understand – I’m not even practicing my Psychometrician license – because I realized one thing: How can I help others when I can’t even help myself?

While I believe that Psychology is a wonderful course due to its helping nature, it has its own unique challenges if you want to make money out of it. It helped me realize I want to become a mental health advocate and that I have a knack for easing people to open up with me, but eventually, I came to the saddening realization that it’s not a quick way to have high income. To be clear, I’m not regretful I chose this course because my college experiences, directly or indirectly linked to my course, helped me gain the skills and confidence to be a good candidate for employment, wherever industry I may be. However, I understand that some courses may guarantee a higher paying job. Let’s look at the numbers.

Here are the traditional roles of Psychology fresh graduates and their expected salary. Kindly note that the following info was grabbed from Glassdoor (0-1 year of experience) and location was set in Metro Manila and pay may differ according to the industry.

Note: These numbers represent the median, which is the midpoint of the ranges from their proprietary Total Pay Estimate model and based on salaries collected from Glassdoor users. Additional pay could include cash bonus, commission, tips, and profit sharing.

• HR Assistant – total pay is ₱34,000 per month in the Manila, Philippines area, with an average salary of ₱16,000 per month. The estimated additional pay is ₱18,000 per month.
• Guidance Associate – total pay is ₱27,000 per month in the Manila, Philippines area, with an average salary of ₱20,500 per month. The estimated additional pay is ₱6,500 per month.
• Clinical Psychologist – The average salary is ₱23,410 per month in Philippines.
• Psychiatrist - The average salary is ₱40,000 per month in Philippines.

Kindly do your own research as well, especially if you’re not from the Manila area and you are seeking out specific companies, facilities, or schools. In my experience, I accepted a job offer of ₱15,000 per month as a Recruitment Specialist because I panicked and felt like I was missing out from my batchmates. Soon enough, I learned it was below the livable wage, which is estimated to be between ₱30,000 to ₱40,000 according to Filipino Wealth (2022). And if you are moving to the Metropolitan area of Manila, an additional ₱10,000 is recommended, making a total of ₱40,000 to ₱50,000.

There may be money in Psychology, but it possibly won’t sustain a lavish lifestyle. It still depends on how you live, your expenses, and your flexibility. I know Psych alumni who are consultant psychologists, research assistants, and professors at the same time. With a Psychometrician license, you can be a thesis adviser, test validators, and assistant professors. You can be a resource speaker, behavioral therapist, and more.

Psychology covers a broad spectrum and has a versatile career path. That’s why it’s unique. You get to forge your own journey, so it's best to be more proactive in weighing your options. If money is all you are after for, which I understand, Psychology can still be a useful course. It’s a people-centric undergrad degree and where there are people, there is a job for you.

Lastly, your anxiety about your course is normal and valid. However, let it not paralyze you into regret and fear – use it to be one step ahead and educate yourself on the job climate. Be resourceful and ask your professors, seniors, or guidance counselors for assistance. Be open to different possibilities – once we accept the fact that not everything will turn out the way we planned, the more we can be equipped in facing changes, whether you’ll be working in the mental health profession or not.

These are just my two cents on the matter. I'm sure that we can have a lovely conversation if you're interested in learning more about our career tracks. Currently, I am Content Writer by day, and a Mental Health Advocate at night. By helping myself gain financial stability, I know I'll be helping others better in the future. I do what I can to help now without sacrificing so much of myself.