Psychologists who put their skills to use researching management and marketing problems and consulting with company executives on improving the quality of life in the workplace are known as industrial organizational psychologists. These psychologists earn some of the highest wages in the field of psychology, though exact salaries are based on experience, industry and location.
The average salary of an industrial organizational psychologist in the United States was £66,670 as of May 2009, according to the Bureau of Labor Statistics. At the 25th percentile, the annual wage was £40,885, meaning 25 per cent of these psychologists earned less than this wage per year. Conversely, 75 per cent of industrial organizational psychologists earned more than £79,157 per year.
The Bureau reports that the majority of industrial organizational psychologists worked in the industry of management, scientific and technical consulting services for an average income of £78,656 as of 2009. Wages were lower for those working in scientific research and development services with an average of £57,206, while those working in business schools and computer and management training earned the highest salary average at £80,743 annually. Industrial organizational psychologists providing consulting services to colleges, universities and professional schools earned an average of £46,839 a year, while those working with the management personnel of companies and enterprises earned an average of £55,711.
The top-paying state for industrial organizational psychologists was Florida, with a salary average of £82,316 a year, followed by New York at £79,956 and Minnesota at £76,771. The metropolitan area of Minneapolis-St. Paul-Bloomington, Minnesota-Wisconsin, was the nation's highest paying area for industrial organizational psychologists; those living in the area earned an average of £80,879 annually. The New York City metropolitan area ranked second with a salary average of £76,960.
According to the Bureau, the employment rate of psychologists will increase 12 per cent between 2008 and 2018. Industrial organizational psychologists will be in demand to help businesses handle issues such as workplace diversity and antidiscrimination policies. They may also consult with management on designing and analysing surveys for marketing and statistical purposes.