Psychology Degree in Elgin, IL — Salary & ROI 2026
Psychology degree analysis for Elgin, IL. COL-adjusted salary data, local tuition costs, ROI calculator, and job market outlook.
Starting Salary
$35K
COL-adjusted
Mid-Career
$51K
COL-adjusted
ROI Payback
11.3 yrs
in Elgin
Cost of Living
79
index (100 = avg)
Psychology in Elgin, IL Overview
Elgin, Illinois (pop. 114,797) has 13 colleges offering Psychology programs. The local cost of living index of 79 keeps student expenses low, with average rent near campus at $1,008/month. Psychology enrollment is stable nationwide, with steady demand for graduates skilled in Research Methods and Statistics. The adjusted starting salary in Elgin is approximately $34,760.
Category
Social Sciences
Local Colleges
13
Public Tuition
$10,014/yr
Private Tuition
$30,900/yr
Room & Board
$9,983/yr
Avg Fin. Aid
$15,897/yr
Unemployment
4.7%
Graduation Rate
47%
Psychology Salary in Elgin (COL-Adjusted)
Salaries adjusted for Elgin's cost of living index of 79 (national average = 100).
Note: National average Psychology salary: $44,000 starting, $65,000 mid-career, $82,000 senior level.Elgin adjustment factor: 0.79x based on the local cost of living index.
Psychology ROI Calculator for Elgin
Estimate your return on investment for a Psychology degree using local Elgin tuition and cost of living data.
Public avg: $10,014 | Private avg: $30,900
Elgin avg aid: $15,897/yr
Federal avg: 6.5% | Private: 4-14%
Total Education Cost
$79,988
tuition + room & board - aid
Annual Earnings Premium
$7,110
vs HS diploma in Elgin
ROI Payback Period
11.3 years
to break even
Lifetime Return in Elgin
$172,812
Lifetime earnings premium ($252,800) minus total education cost ($79,988)
Student Loan Payoff for Psychology in Elgin
Standard Plan (10 years)
Aggressive Plan (5 years)
Colleges in Elgin for Psychology
Judson University
private
$30,900/yr
$123,600 total
Community Colleges (2-Year Transfer)
Elgin Community College
$4,980/yr
Top Employers for Psychology in Elgin
Elgin offers opportunities in Government agencies, Non-profits, Research institutes for Psychology graduates. National top employers in this field include:
Key Elgin Hiring Sectors for Social Sciences
Government agencies
Non-profits
Research institutes
Social services
Consulting
Common Psychology Job Titles
Psychology in Nearby Illinois Cities
Chicago, IL
$48K starting · COL 109
98 colleges
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
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 Elgin
International Relations
$40K starting · 5 yr ROI
Political Science
$38K starting · 5.5 yr ROI
Urban Planning
$40K starting · 5 yr ROI
Geography
$40K starting · 5.5 yr ROI
Forensic Science
$40K starting · 4.8 yr ROI
Sustainability Studies
$40K starting · 5.8 yr ROI
Criminal Justice
$40K starting · 5 yr ROI
Sociology
$35K starting · 6.5 yr ROI
Psychology Degree in Elgin — 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 Elgin.