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Psychologists and Psychology Practices

SIC 8049 | NAICS 621330


The following guide to industry information, research, and analysis provides sources for industry trends and statistics, market research and analysis, financial ratios and salary surveys, and more.



For guides to other industries, see our index of over 400 industries.





Industry Analysis, Trends, Statistics, and Forecasts


Psychologists, Social Workers & Marriage Counseling  (view report)
Mental Health & Substance Abuse Clinics  (view report)

Comprehensive market research reports provide in-depth industry analysis and five-year forecasts, with special focus on the underlying structure and external forces and relationships that affect industries and their performance. Report contents include:

  • Market size and characteristics
  • Key statistics and ratios
  • Current performance
  • Competitive landscape
  • Major firms and market share
  • Key risk and success factors
  • Five-year growth forecast


American Psychological Association
Information resources available from this association include:

Center For Workforce Studies
http://www.apa.org/workforce/
Comprehensive resource library provides an in-depth look at the psychology profession, with topics covered in CWS publications including participant demographics, education, employment characteristics, salaries, career development, job satisfaction, and employment outlook. All information is available free online.

APA Member Profiles
http://www.apa.org/publications
Annual study provides a profile of member characteristics, with information provided including demographic (e.g., gender, race, age, and region), education (e.g., highest degree earned, years since degree), major field (e.g., health service, research, and other), and employment characteristics (employment and licensure status, work setting, and work activities). Current and prior profiles can be downloaded and viewed online.



Mental Health Professionals
http://www.firstresearch.com

First Research profiles cover key aspects of an industry's size, scope, and operations and include a five-year growth forecast. Profile contents include:

  • Industry overview
  • Recent developments
  • Critical issues and challenges
  • Business trends and opportunities
  • Executive insights
  • Financial benchmarking data
  • Five-year growth forecast


American Psychological Association Practice Organization
Business of Practice
http://www.apapracticecentral.org/
"Business of Practice" section provides an extensive selection of practice management tools and resources for psychology practices, with topics addressed in this section including business management, practice development, financial management, electronic records, technology, HIPAA compliance, and legal and regulatory issues. Selected items can be viewed free online with the remainder available to members only.

U.S. Bureau of Labor Statistics
Occupational Outlook Handbook - Psychologists
https://www.bls.gov/psychologists
Information provided for professionals included in this occupational category (e.g., clinical, counseling, and school, industrial-organizational, and all other psychologists) includes a description of the nature of the work and the work environment, number and types of jobs, education and training requirements, wages and earnings, employment outlook, and sources for additional information. All information is available free online.

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Financial Statements and Financial Ratios



Industry Financial Ratios
Psychologists
https://www.bizminer.com  Search for "621330"

Five-year financial statement analysis includes income statements, balance sheets, and key financial ratios, with data available by sales size range on a national, state, and metro area level.

  • Income and expense detail in dollars and percentages
  • Balance sheets in dollars and percentages
  • Cash flow analysis
  • Liquidity and working capital ratios
  • Profitability and return on investment ratios
  • Asset turnover and efficiency ratios
  • Capital structure and debt service ratios


RMA Annual Statement Studies
Mental Health Practitioners (except Physicians)
https://www.rmahq.org/  Search for "621330"
Annual financial statement analysis includes common-size income statements and balance sheets and key financial ratios for mental health professionals included in this health care sector (e.g., psychologists, psychoanalysts, psychotherapists, and social workers). Report includes five years of historical data with the most recent year's data broken out by sales and assets size range. Sample report can be viewed online.

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Compensation and Salary Surveys


Society for Industrial and Organizational Psychology
SIOP Income Survey
http://www.siop.org/surveys
Triennial survey provides current and historical income data for industrial and organizational psychologists by age, gender, highest degree attained, years of work experience, employment setting, job title, certifications, ownership status, and geographic location. Current and prior surveys can be downloaded and viewed online.

American Psychological Association
Center For Workforce Studies - Salaries in Psychology
http://www.apa.org/publications
Comprehensive salary survey provides compensation data for full-time psychologists who are employed, self-employed, or operate an independent practice, with survey data reported by highest degree attained, job position, employment setting, median years in practice, gender, race and ethnicity, and geographic region. Complete survey report including figures, tables, references, and appendices can be viewed free online.

U.S. Bureau of Labor Statistics
Occupational Employment and Wages - Mental Health Practitioners
https://www.bls.gov/oes/current/naics5_621330.htm
Annual occupational employment and wages survey provides hourly and annual wage data for psychologists included in this occupational category (e.g., clinical, counseling, and school, industrial-organizational, and all other psychologists) on a national, state, and metropolitan area basis, with statistical measures for national data including mean, median, and upper/lower quartiles and deciles. All information is available free online.

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