The popularity of psychology as a college major has surged, particularly following 2020, with over 140,000 bachelor’s degrees awarded in 2023, significantly up from about 87,000 in 2004, according to the American Psychological Association (APA). Several factors underpin this trend: younger generations are increasingly open about mental health, and the rise of social media influencers has brought psychological topics to the forefront. Movies and TV shows also play a role in shaping perceptions of the field, making it increasingly appealing to today’s students. However, while more students are entering this field, the financial returns are not as promising as they might expect. A 2025 report from the Federal Reserve Bank of New York indicates that early-career psychology graduates earn a median salary of $45,000, which grows to only $70,000 mid-career.
Dr. Ryan Sultan, a board-certified psychiatrist, attributes the surge in psychology degrees to generational changes. He asserts that modern students are more comfortable discussing mental health issues like anxiety and trauma than previous generations, leading more individuals to pursue psychology. This varies from earlier attitudes where mental health discussions were stigmatized. The willingness to engage with such topics has fostered an environment where pursuing a degree in psychology seems both relevant and necessary, as students seek deeper understanding amid rising societal awareness.
Career strategist Patrice Williams Lindo highlights the role of collective trauma from recent events, such as the pandemic and social unrest, in motivating students to choose psychology. Gen Z is particularly influenced by the “TikTok therapy” culture, seeing mental health work as a meaningful vocation even in light of uncertain financial returns. The pandemic has arguably shifted mental health into public discourse, making psychology appear culturally significant, even as the routes to lucrative careers in the field remain unclear. Lindo asserts that the reality of low starting salaries may not deter students, as they are often drawn to the intrinsic rewards of the field over monetary gain.
While there is a noble intent behind many students’ pursuit of psychology, Dr. Sultan notes that many are unaware of the discipline’s depth, including extensive research components and the substantial further education required for clinical roles. Career strategist Linda emphasizes that a bachelor’s degree in psychology alone typically does not lead to lucrative positions, suggesting that graduates should have concrete plans for further training, or consider applying their knowledge in related fields such as UX research, human resources, or public policy for sustainable income.
Dr. Azadeh Weber’s experience encapsulates the challenges psychology graduates face. After earning her bachelor’s in psychology, she struggled to find employment in the field, leading her to a career in unrelated tech sales. It wasn’t until years later that she pursued graduate studies to become a clinical psychologist, eventually running her own practice and earning a substantial income while maintaining a part-time schedule. She reflects on her journey as one driven by a desire to understand herself and others, underscoring that the intrinsic motivational factors are often what drive students to psychology despite the financial uncertainties that come with it.
Overall, while the escalating interest in psychology reflects a positive societal shift toward understanding mental health, it is essential for prospective students to grasp the realities of the profession, including its financial implications. The increasing popularity of psychology as a major doesn’t necessarily equate to lucrative job prospects directly following graduation, and students must be prepared for additional training and exploration of alternative career paths if they wish to achieve sustainable and satisfactory income.
