Delayed gratification?
 

Here is my dilemma and maybe some of you out there have some suggestions or have gone through the same thing.....

I have a bachelor's degree in psychology. My grades were top of the line, and they helped me get a great job. The bottom line is that I only have a B.S., and the better jobs in psych need a higher degree. I fully plan on getting one of these, but I don't know which one would be better for me to apply to now.

A masters in psych only takes two years to complete. Job responsibilty significantly increases, the degree allows you to give therapy, and the pay is *much* better. A doctorate is 6 years, plus post doc (1 year, I believe). This degree allows you to be "in charge" of a unit, research facility, etc...and of course, the pay is outstanding. (FYI: You do not need to get a masters to get into a doctorate program)

My dilemma comes in that, well, I need money. 6 years (for the doctorate) getting only a $12,000 stipend won't really keep me afloat plus pay all my loans, bills, car payment, etc.... I plan on getting my doctorate eventually, but what if getting my masters is just delaying the inevitable and a waste of time that I could be putting towards a PhD?

Any thoughts/comments/suggestions would be much appreciated!

When I was researching graduate programs last fall I was thinking about a Masters or PhD in Psyc. After talking to several people w/degrees in the area this is the summary...

People said the PhD was not really necessary unless you want to be heavily involved in research and testing. They said there is actually more hands on work with the Masters....that this is what most counselors have. It really depends on the level you want to take it to. Do you want your own private practice? You can charge more w/a PhD but can do it w/an MS (depending on the laws of your state). Are you interested in research or teaching at the college level? Then you definitely need the PhD. Want to work in a facility and be able to provide therapy? Just get the Masters. It really depends on your long term goals. You might also want to consider a degree in Marriage and Family Therapy. It's actually a GREAT program that really teaches you counseling and therapeutic techniques. Several counselors here at work have their degree in this. And actually the MS in MFT is generally more respected in the workforce than the MS in psyc. (from my experience) b/c people know that the MFT people get a LOT of good, hands on training.

Hope this helps :) Feel free to PM me if you'd like to talk about it more! Good luck with your decision.

I'm not in your field, but I would go for the master's. In many fields (not sure if yours is one of them) your master's work can count towards some of the requirements for your doctoral program - both in terms of classwork and in terms of thesis (i.e. your doctoral thesis is a more in-depth treatment of something related to your master's thesis).

If money is the issue, keep in mind that if you have any student loans, your repayment of them is deferred as long as you're in school - so that will help a little with the bills :)

Good luck :)