How much do psychologists earn?
The average income of a psychologist is 17,091 pesos per month, according to the Compare Careers of the Mexican Institute for Competitiveness (Imco).
There is a gender gap. On average, men who practice this profession earn 18,313 pesos on average, while women earn 16,648 pesos.
On the other hand, the top 1% of psychologists in Mexico earn 125,323 pesos per month. And 50% of those who earn the least receive only 14,028 pesos per month.
Work informality of psychologists
In addition, the average salary also depends on the formality or informality of the job. Psychologists who have a formal job, with minimum legal benefits, earn an average of 19,060 pesos per month.
But a psychologist who works in the informal sphere earns just 10,768 pesos on average.
The informality rate of psychologists is 28.3%, that is, almost three out of 10 psychologists are informal. And the unemployment rate is 4.9%.
How much does it cost to study psychology?
In a private school, studying psychology costs 266,382 pesos on average, show the Imco data.
In a public school, the total cost is 40,660 pesos.
Is it a good investment?
However, since there is a high probability of not finding a quality job, the Imco considers that studying psychology is an insecure investment.