Psychology Degree in Memphis, TN — Salary & ROI 2026
Psychology degree analysis for Memphis, TN. COL-adjusted salary data, local tuition costs, ROI calculator, and job market outlook.
Starting Salary
$41K
COL-adjusted
Mid-Career
$60K
COL-adjusted
ROI Payback
11.5 yrs
in Memphis
Cost of Living
93
index (100 = avg)
Psychology in Memphis, TN Overview
Memphis is one of Tennessee's top college towns, with 22 institutions and a student population of 42,935. Public tuition averages $9,944/year here — well below the national average, making it a cost-effective choice. Psychology enrollment is stable nationwide, with steady demand for graduates skilled in Research Methods and Statistics. The adjusted starting salary in Memphis is approximately $40,920.
Category
Social Sciences
Local Colleges
22
Public Tuition
$9,944/yr
Private Tuition
$44,033/yr
Room & Board
$14,138/yr
Avg Fin. Aid
$10,619/yr
Unemployment
3%
Graduation Rate
72%
Psychology Salary in Memphis (COL-Adjusted)
Salaries adjusted for Memphis's cost of living index of 93 (national average = 100).
Note: National average Psychology salary: $44,000 starting, $65,000 mid-career, $82,000 senior level.Memphis adjustment factor: 0.93x based on the local cost of living index.
Psychology ROI Calculator for Memphis
Estimate your return on investment for a Psychology degree using local Memphis tuition and cost of living data.
Public avg: $9,944 | Private avg: $44,033
Memphis avg aid: $10,619/yr
Federal avg: 6.5% | Private: 4-14%
Total Education Cost
$96,328
tuition + room & board - aid
Annual Earnings Premium
$8,370
vs HS diploma in Memphis
ROI Payback Period
11.5 years
to break even
Lifetime Return in Memphis
$201,272
Lifetime earnings premium ($297,600) minus total education cost ($96,328)
Student Loan Payoff for Psychology in Memphis
Standard Plan (10 years)
Aggressive Plan (5 years)
Colleges in Memphis for Psychology
University of Memphis
public
$9,944/yr
$39,776 total
Rhodes College
private
$52,366/yr
$209,464 total
Christian Brothers University
private
$35,700/yr
$142,800 total
Community Colleges (2-Year Transfer)
Southwest Tennessee Community College
$4,464/yr
Top Employers for Psychology in Memphis
Memphis offers opportunities in Government agencies, Non-profits, Research institutes for Psychology graduates. National top employers in this field include:
Key Memphis Hiring Sectors for Social Sciences
Government agencies
Non-profits
Research institutes
Social services
Consulting
Common Psychology Job Titles
Psychology in Nearby Tennessee Cities
Nashville, TN
$40K starting · COL 92
35 colleges
Knoxville, TN
$37K starting · COL 85
5 colleges
Chattanooga, TN
$35K starting · COL 80
5 colleges
Clarksville, TN
$40K starting · COL 90
9 colleges
Murfreesboro, TN
$40K starting · COL 91
10 colleges
Franklin, TN
$52K starting · COL 118.5
4 colleges
Jackson, TN
$36K starting · COL 82.5
3 colleges
Johnson City, TN
$46K starting · COL 105
6 colleges
Other Social Sciences Majors in Memphis
International Relations
$47K starting · 5 yr ROI
Political Science
$45K starting · 5.5 yr ROI
Urban Planning
$47K starting · 5 yr ROI
Geography
$47K starting · 5.5 yr ROI
Forensic Science
$47K starting · 4.8 yr ROI
Sustainability Studies
$47K starting · 5.8 yr ROI
Criminal Justice
$47K starting · 5 yr ROI
Sociology
$41K starting · 6.5 yr ROI
Psychology Degree in Memphis — 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 Memphis.