Aspirants who have successfully competed their training in psychology can make their mark in the following lucrative branches of psychology.

Clinical Psychology

Clinical psychologists assess and treat people with psychological problems. They may act as therapists for people who are experiencing normal psychological crises (e.g., grief) or for individuals suffering from chronic psychiatric disorders. Some clinical psychologists are generalists who work with a wide variety of populations, while others work with specific groups such as children, the elderly, or those with specific disorders

Counseling Psychology

Counseling psychologists do many of the same things that clinical psychologists do. However, counseling psychologists tend to focus more on persons with adjustment problems rather than on persons suffering from severe psychological disorders. They may be trained in psychology departments or in education departments. Counselling psychologists are employed in academic settings, college counselling centers, community mental health centers.

Health Psychology

Health psychologists are concerned with psychology's contributions to the promotion and maintenance of good health and the prevention and treatment of illness. They may design and conduct programmes to help individuals stop smoking, lose weight, shed alcoholism, manage stress, and stay physically fit. They are employed in hospitals, medical schools, rehabilitation centers, public health agencies, academic settings, and private practice.

Teaching and Research

If you're interested in teaching undergraduate, master's-level, or doctoral-level students, you will probably work in a university setting, where you will probably also do research. If an individual is not interested in teaching and wants to focus on research, he/she can work for government agencies (for example, the Centers for Disease Control) or for private research organizations. To work as a psychologist in these settings, one would need a Ph.D. in psychology.

Industrial/Organizational Psychology

I/O psychologists (as they are usually called) are concerned with the relationships between people and their work environments. They may develop new ways to increase workplace productivity or be involved in personnel selection. They are employed in business, government agencies, factories, industrial set-ups corporate houses and academic establishments.

Sports Psychology

Sports psychologists are concerned with the psychological factors that improve athletic performance. They also look at the effects of exercise and physical activity on psychological adjustment and health. Sports psychologists typically work in academic settings and/or as consultants for sports teams.

Agency/Community Counseling

Graduate programmes in agency or community counseling train you to do counselling in human service agencies in the local community--for example, in community mental health centers. They may also train you to administer a limited number of psychological tests (vocational interest tests, for example). The work is similar to that done by a person with a master's or doctoral degree in clinical or counseling psychology: psychotherapy and, perhaps, limited psychological testing.

Educational Psychology

Educational psychologists attempt to understand the basic aspects of human learning and to develop materials and strategies for enhancing the learning process. For example, an educational psychologist might study reading and then develop a new technique for teaching reading. Educational psychologists are typically trained in departments of education (known as departments of psychology) and employed in colleges and universities.

School Counselling

School counselors work with children who are troubled, helping such children function more effectively with their peers and teachers, deal with family problems, etc. They work at the elementary, middle, and high school levels.

School Psychology

School psychologists do a lot of testing--mostly of children who are encountering difficulties in school--to try to diagnose the problem and, sometimes, to suggest ways of dealing with the problem. School psychologists are typically trained in departments of education (vs. departments of psychology) and work in public school systems.

Social Work

Another career option to consider if you're interested in counseling is social work. As is true with other disciplines, there are a variety of allied fields in social work. Social workers who practice psychotherapy are usually called either clinical social workers or psychiatric social workers.

Clinical social workers are trained to diagnose and treat psychological problems. Psychiatric social workers provide services to individuals, married couples, families, and small groups. They work in mental health centers, counseling centers, sheltered workshops, hospitals, and schools. They may also have their own private practice

Psychology is a highly rewarding and lucrative field of study. A psychologist salary depends on many factors like his/her qualification, area of specialization and experience in the profession.

Professional psychologists with M.Phil and Ph.D degree earn quite handsomely. Those engaged in private practice have more scope for earnings.

In this field, as a fresher, one’s income generally varies approximately from Rs. 5000/- to Rs.8000/-. As one establishes himself in the field and specializes in any of its branches, he can earn more.