College of Psychologists of Ontario net worth and salary income estimation (2024)

FAQs

What is the salary for a psychologist in Ontario? ›

How much does a Clinical Psychologist make in Ontario? As of May 10, 2024, the average annual pay for a Clinical Psychologist in Ontario is $112,713 a year. Just in case you need a simple salary calculator, that works out to be approximately $54.19 an hour. This is the equivalent of $2,167/week or $9,392/month.

To make $200k per year you'd need to make $769.20 per day 5 days a week with no holidays and that's before tax. You can make that in a day seeing 5 clients at $155 an hour. If you can pull that in at 30 hours a week, you can make over $200K.

Do psychologists make a lot of money? They can! However, it is important to recognize that individual salaries vary a great deal. According to the U.S. Bureau of Labor Statistics, the median salary for psychologists is $81,040.

The field of psychiatry, a specialized branch of psychology, typically makes the most money. Their estimated salary is well over $200,000 annually. Psychiatrists are medical doctors who specialize in mental health, including the diagnosis, prevention, and treatment of mental disorders.

The employment outlook will be very good for Psychologists (NOC 31200) in Ontario for the 2023-2025 period. The following factors contributed to this outlook: Employment growth will lead to several new positions. Several positions will become available due to retirements.

Clinical psychology, psychiatry, and industrial-organizational psychology typically offer the highest earning potential in the field of psychology. However, income can vary based on factors like location and experience.

Building a group practice, running therapy groups, saving money early, getting out of debt and starting a side hustle are all great ways to start on the road to financial success. It may not be an easy journey but with the right strategy and dedication, becoming a wealthy therapist is achievable.

According to the Occupational Outlook Handbook published by the U.S. Department of Labor, 29% of psychologists are self-employed with a median pay of around $79,000 per year. 2 If you operate your own therapy practice, you can basically set your own hours.

Is psychology a prestigious job? ›

Comment: Psychology graduate students are training for some of the country's top careers, according to a recent "Best Jobs in America" list compiled by Money magazine and Salary.com.

While ZipRecruiter is seeing annual salaries as high as $156,500 and as low as $49,000, the majority of salaries within the Bachelor Degree In Psychology jobs category currently range between $60,000 (25th percentile) to $116,500 (75th percentile) with top earners (90th percentile) making $148,500 annually across the ...

According to research, cognitive behavioral therapy (CBT) is the gold standard in therapy treatment. It's the most well-researched type of psychotherapy (also known as talk therapy) and a highly sought-after modality due to its efficacy in addressing various mental health conditions.

Find out what the average Psychologist salary is

How much does a Psychologist make in Canada? The average psychologist salary in Canada is $103,248 per year or $52.95 per hour. Entry-level positions start at $84,004 per year, while most experienced workers make up to $127,188 per year.

Salaries for psychologists are very good, much above the average salary in Canada. If you are looking to make more money as a psychologist, you can work within a private health care centre or wellness clinic. Psychologists make the most amount of money in Quebec, Manitoba, and Alberta.

Overall, it takes approximately five to eight years after receiving a bachelor's degree to obtain a Ph. D. in psychology. A master's degree usually takes two to three years to complete, followed by an additional four to six years for a doctoral (Ph.

Psychology can be an excellent choice for a college major and career for many reasons. Getting a psychology degree can open the doors to many different careers and lead you to a job that is in high demand.