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Original poster

How can I become a rich clinical psychologist?

80 replies

mumsy23baby · 08/01/2022 00:36

Hey,

I earn £43k in HR and I'm looking to level up. I've been in HR for 10 years and going nowhere. I'm thinking either to career change into law and do a TC (if I can - I know v competitive) or clinical psych.

Law is better paid but clinical psych does pay £30k whilst working. Long term I think clin psych js better with kids but I don't know how I'm going to be financially ok in that career?

What would you choose?

OP posts:
Quidity · 08/01/2022 07:31

I know a lot of Clinical Psychologists and they are not rich! Mostly Band 7 or 8a (so range 40K to 53K).
Do you already have a psychology degree? Clinical training is insanely competitive to get on, usually you would need a first, then at least a year as an assistant psychologist or other relevant work experience before getting a place on clinical training. So 6 years in all if you don't have a psychology degree.
Don't do it for the money, do it because you are interested.

ApolloandDaphne · 08/01/2022 07:41

It takes a long time to qualify for either so you will be worse off whilst studying. I wouldn't do either but if I had to choose I think law would earn more in the long run.

Dalidark · 08/01/2022 07:46

Second that Clinical Psych is hugely competitive and tough to get on.

I have a friend who after numerous years applying, gave up and self funded a three year Counselling Psych doctorate instead (by this point she had a first at undergrad, two MSc, three years experience doing research and as an assistant psychologist and had started a research PHD...she still didn't get passed interviews for the clinical psych doctorate.).

I gave it a bit of a go after finishing my psych undergrad, but seeing how many years my peers sunk into it with no luck put me off. I decided to train as a mental health nurse instead, then did a post grad diploma in CBT (funded by NHS whilst working). This got me to my end goal of doing CBT and puts me in the same band 7 category but that still took over 6 years.

I would say therapy or psychology is a long slog and there isn't much money in it compared to other careers with similar training times. If you're money driven it's probably not the wisest choice. However once qualified and working for the NHS there is a lot of security and under my health board at least, a lot of opportunity to move around to different roles.

cloudtree · 08/01/2022 07:47

If you’re going nowhere in HR you’ll go nowhere in law. Why on earth do you think you would? Sorry but I have significant experience in both as a v senior employment solicitor.

eggsfor1 · 08/01/2022 07:52

Bit of a curve ball. I work in the construction industry. There are so many roles available and the pay is very lucrative.

I started 5 years ago, with an unrelated degree. My pay has doubled in this time and I am now applying for chartership, so I can progress more.

May be something for you to consider if it was just the money you were worried about?

bingot · 08/01/2022 08:02

Well... lawyers aren't necessarily rich.

Some outside of London are making less than your current salary.

If you're in London, USA firms pay better than English firms. Commercial law pays more, but the hours are very long.

However, if u want to do law, research it and go for it.

The above information is regarding solicitors.

SunshineOnKeith · 08/01/2022 08:04

HR can be a lucrative career - what's stopping you from developing your skills/salary prospects there?

spotcheck · 08/01/2022 08:05

OP
Maybe compile a list of all the best paying careers- and drop a pin on it.
There.

Totalwasteofpaper · 08/01/2022 08:10

@cloudtree

If you’re going nowhere in HR you’ll go nowhere in law. Why on earth do you think you would? Sorry but I have significant experience in both as a v senior employment solicitor.
I kind of agree with this in terms of either move.

My cousin is a clinical psychologist and it competitive as hell. And Law isn't what it was and is getting tougher every year.

HR pays fine and I'd focus on moving up that ladder rather than jumping ladders.
I currently work with 2 HR people both are on 110k-130k plus bonus packages (I know this for a fact as role rates as role rates are an indirect part of my job) and a my last company the 2 HR women were on £115k base (she told me while drunk and complaining she should earn more) and the woman underneath her on £80k base (she was my good friend)

HR pays absolutely fine... I considered moving across into it and I was making £100k+ at the time.

Karwomannghia · 08/01/2022 08:10

How about occupational psychology? Easier route, more linked to your experience and can be very well paid!

PermanentTemporary · 08/01/2022 08:12

What about applying to become a non-legal Employment Tribunal member I don't know much about it except that I have a relative who is an employment lawyer. Might be worth a look and give you experience of moving towards the legal side?

Or think about becoming a director or non-executive director?

But in general I think if you're on £43k you're doing well and if the aim is to develop your career and earn more, you'd look for ways to build on your existing experience rather than start from scratch in two unbelievably competitive professions.

PermanentTemporary · 08/01/2022 08:12

Urgh link fail trying again

PermanentTemporary · 08/01/2022 08:15

Company Secretary?

LookslovelyinSpringtime · 08/01/2022 08:15

I would have thought an actual interest and aptitude in psychology is fairly important, not just an interest in making money.

northstars · 08/01/2022 08:17

@LookslovelyinSpringtime

I would have thought an actual interest and aptitude in psychology is fairly important, not just an interest in making money.
This!! Clinical psychology is not the kind of work one just randomly goes into!
Howshouldibehave · 08/01/2022 08:22

The route into clinical Psychology will be expensive, long and competitive. What’s your background-do you have a degree/masters in psychology?

Anon2022 · 08/01/2022 08:32

I fear you know nothing about either of those careers and how hard it is to get picked to train for them, and the years of struggle to get a basic job in those fields

If you want a quick buck - neither of these are good options

If they are your life dream, you may however find fulfilment pursuing them despite poverty

Crazykatie · 08/01/2022 08:35

£43k isn’t so bad, it’s always greener on the other side, law in particular is precarious at the lower levels, only the best earn the high salaries.

Stellaaaaaaaah · 08/01/2022 08:37

Hi eggsfor1,

What types of jobs are available in construction? Thanks Smile

Figgygal · 08/01/2022 08:40

Why cant you specialise in certain area of hr instead?
I work in hr and wouldnt say £43k is going nowhere its a pretty good salary depending on what your role is

TheWatersofMarch · 08/01/2022 08:50

I think if you want to become a Clinical Psychologist you need to come from a starting point of fascination for the subject, a strong belief in the role of Clinical
Psychology in improving people's lives and a desire to serve others. I'm not hearing that in your post. Why don't you progress your career in HR?

altforvarmt · 08/01/2022 09:06

Clinical Psychology is extraordinary competitive. Most people who apply never get a place on the course, including those who apply several times.

catfunk · 08/01/2022 09:42

Why can't you increase your salary in HR?
Move companies, HR partner or director role .
do you have CIPD?

Newnews · 08/01/2022 09:51

Clinical psychs CAN earn a lot of money but usually only if you work privately at least some of the time to supplement the modest NHS income.

However it is certainly not a quick buck. As pp have said it’s very competitive and will take you years to get on the course let alone actually do the three year training.

I’d stick with HR or go into more corporate sector.

IncompleteSenten · 08/01/2022 09:57

You need to get into a shedload of debt getting a relevant degree and then a doctorate in clinical psychology.
Then you need to get a job starting at the bottom, excel in your field and work your way to the top over 10-20 years.