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//Related Videos: Psychiatrist Video: • Psychiatrist Salary (2020) – How to Become... Psychologist Video: • Psychologist Salary (2019) – Psychologist ... //Support CareerWatch by Becoming a Sponsor! / @careerwatch For business inquiries please email: contact.careerwatch@gmail.com Timecodes 0:00 - Intro 0:51 - #1 Psychiatrists Earn Vastly More Than Psychologists 2:31 - #2 Psychiatrists are in Greater Demand 5:11 - #3 Psychiatrists and Psychologists have similar interests 6:08 - #4 Psychiatrists and Psychologists have similar personalities 6:36 - #5 The barrier to become a psychiatrist is higher 7:38 - Outro Blog Post: https://www.careerwatch.co/blog/psych... Psychologist vs. psychiatrist in 2021? The main difference between psychologists and psychiatrists is that psychiatrists are licensed doctors. Even though both professions involve treating behavioral problems, only psychiatrists are allowed to prescribe medications. Psychologists only do therapies and counseling to fix the problems. Should you be a psychologist or a psychiatrist? Here are some factors to consider: Psychiatrists vastly outearn psychologists and have higher wage growth. Psychiatrists are more in demand. Psychologists and psychiatrists have very similar RIASEC codes. Psychologists and psychologists have very similar personality types. Let's get started The Bureau of Labor Statistics found that psychiatrists had a higher average base pay than psychologists in 2019. In fact, in the industry, psychiatrists earned more than the majority. Here are the amounts: In 2019, psychiatrists had a higher base salary than psychologists. That will continue until 2029, where psychiatrists are expected to earn $276,035 and psychologists $105,417. The Bureau of Labor Statistics found that there will be a $170,618 difference between the base salaries of psychiatrists and psychologists in 2029. Based on the graph above, there are 25,530 psychiatrists and 2,849 job opportunities. This means that 8 psychiatrists are competing for one opportunity, so there's a shortage of workers. Psychiatrists are in demand! As in the case of psychologists, 113,280 psychologists divided by 8,369 job opportunities is equal to 13. This shows that there isn't great competition in this particular field. It's not that difficult to get a job as a psychologist! Affiliate Links: 🧑🚀 My blog and business are powered by Kajabi! 14 Day FREE trial: https://bit.ly/33qLV6n 🏦 Loans for Immigrants and Students: https://bit.ly/3pK1Vt5 🐶 Get paid to play with Dogs and Cats with Rover: https://bit.ly/2JmsDYP 🛍️ Amazon Recommendations (Books, Gear, Etc.): http://amzn.to/3qDbFFL 📒 FREE RIASEC Assessment: http://bit.ly/3p2nS6w DISCLAIMER: This description contains affiliate links. If you click and purchase one of the product links, CareerWatch will receive a small commission.