Psychology Degree in Chicago, IL — Salary & ROI 2026
Psychology degree analysis for Chicago, IL. COL-adjusted salary data, local tuition costs, ROI calculator, and job market outlook.
Starting Salary
$48K
COL-adjusted
Mid-Career
$71K
COL-adjusted
ROI Payback
9.8 yrs
in Chicago
Cost of Living
109
index (100 = avg)
Psychology in Chicago, IL Overview
Chicago is one of Illinois's top college towns, with 98 institutions and a student population of 177,322. Public tuition averages $14,816/year here — near the national average for public universities. Psychology enrollment is stable nationwide, with steady demand for graduates skilled in Research Methods and Statistics. The adjusted starting salary in Chicago is approximately $47,960.
Category
Social Sciences
Local Colleges
98
Public Tuition
$14,816/yr
Private Tuition
$62,666/yr
Room & Board
$9,117/yr
Avg Fin. Aid
$16,009/yr
Unemployment
4%
Graduation Rate
63%
Psychology Salary in Chicago (COL-Adjusted)
Salaries adjusted for Chicago's cost of living index of 109 (national average = 100).
Note: National average Psychology salary: $44,000 starting, $65,000 mid-career, $82,000 senior level.Chicago adjustment factor: 1.09x based on the local cost of living index.
Psychology ROI Calculator for Chicago
Estimate your return on investment for a Psychology degree using local Chicago tuition and cost of living data.
Public avg: $14,816 | Private avg: $62,666
Chicago avg aid: $16,009/yr
Federal avg: 6.5% | Private: 4-14%
Total Education Cost
$95,732
tuition + room & board - aid
Annual Earnings Premium
$9,810
vs HS diploma in Chicago
ROI Payback Period
9.8 years
to break even
Lifetime Return in Chicago
$253,068
Lifetime earnings premium ($348,800) minus total education cost ($95,732)
Student Loan Payoff for Psychology in Chicago
Standard Plan (10 years)
Aggressive Plan (5 years)
Colleges in Chicago for Psychology
University of Chicago
private
$62,940/yr
$251,760 total
Northwestern University
private
$62,391/yr
$249,564 total
University of Illinois at Chicago
public
$14,816/yr
$59,264 total
Community Colleges (2-Year Transfer)
City Colleges of Chicago
$3,918/yr
Top Employers for Psychology in Chicago
Chicago offers opportunities in Government agencies, Non-profits, Research institutes for Psychology graduates. National top employers in this field include:
Key Chicago Hiring Sectors for Social Sciences
Government agencies
Non-profits
Research institutes
Social services
Consulting
Common Psychology Job Titles
Psychology in Nearby Illinois Cities
Aurora, IL
$41K starting · COL 92.8
7 colleges
Joliet, IL
$48K starting · COL 108
12 colleges
Naperville, IL
$45K starting · COL 102
13 colleges
Rockford, IL
$40K starting · COL 90
8 colleges
Elgin, IL
$35K starting · COL 79
13 colleges
Springfield, IL
$40K starting · COL 92
9 colleges
Peoria, IL
$46K starting · COL 104
5 colleges
Waukegan, IL
$40K starting · COL 90.3
4 colleges
Other Social Sciences Majors in Chicago
International Relations
$55K starting · 5 yr ROI
Political Science
$52K starting · 5.5 yr ROI
Urban Planning
$55K starting · 5 yr ROI
Geography
$55K starting · 5.5 yr ROI
Forensic Science
$55K starting · 4.8 yr ROI
Sustainability Studies
$55K starting · 5.8 yr ROI
Criminal Justice
$55K starting · 5 yr ROI
Sociology
$48K starting · 6.5 yr ROI
Psychology Degree in Chicago — FAQ
Data Sources: Salary data from BLS Occupational Outlook Handbook. Cost of living from BLS Regional Data. College data from NCES/IPEDS. Updated March 2026.
Explore More
Compare Psychology ROI in other cities, or explore other majors in Chicago.