Finance

One college major is more popular than ever—but comes with financial catch

Published

8 months ago

July 5, 2025

One college major is more popular than ever—but comes with financial catch

One college major is soaring in popularity—but graduates shouldn’t expect to be making good money from that alone.

A degree in psychology has proven an increasingly popular choice for college students year after year, with a noted spike in degrees awarded following 2020.

In 2023, 140,711 bachelor’s degrees in psychology were awarded to graduates across the United States, compared to 86,989 two decades earlier in 2004, according to the American Psychologial Association (APA).

The trend has been attributed to several possible factors, from younger generations becoming more open about mental health discussions, to online psychology influencers gaining popularity, and even certain films and TV shows.

But while the number of psychology graduates is increasing, the monetary reward may not be what they hope.

According to a 2025 report from the Federal Reserve Bank of New York, the median wage of a psychology graduate in their early career is $45,000—moving to $70,000 by mid-career.

Dr. Ryan Sultan MD, double board-certified and the founder and director of Integrative Psych, believes the rise in psychology degrees is generational.

“Younger people tend to be more open to discussing mental health topics, including anxiety, depression, and trauma,” he told Newsweek. “They’re more comfortable having conversations about psychological wellbeing compared to previous generations. They have more exposure to psychology and related concepts, and therefore more people are seeking out psychology degrees.”

Stock photo of a row of college students with diplomas at their graduation ceremony.

Lacheev/Getty Images

Career strategist Patrice Williams Lindo, CEO of Career Nomad, suggested this choice of major is rising “because people are desperate to understand themselves and the world around them, especially in the wake of collective trauma from the pandemic, social unrest, and economic uncertainty.

“Gen Z in particular is drawn to psychology not only through TikTok therapy culture but because they see mental health work as purpose-driven—even if it doesn’t pay six figures out the gate.”

Lindo pointed to a particular uptick of interest in psychology majors post-pandemic, as discourse around mental health became more mainstream on social platfoms, which may have made psychology degrees feel culturally relevant and important, despite it not having a clear career path post-graduation.

When it comes to graduate roles being relatively poorly paid, Sultan believes this is a positive thing “for the future of psychology.”

“I find that these younger psychology students are conscious of the fact that it’s not a money-driven profession, and therefore choose this field because they are genuinely interested in understanding the mind and human behavior,” he suggested.

However, Sultan works closely with psychology students at his practice, and notes some may not know exactly what the course and career entail, as they “often tell me that they weren’t expecting the field to have such a large research component.”

Career strategist Linda said people may not realize that a bachelor’s degree in psychology alone rarely leads to a high-paying role, and being a clinician requires a lot of further work.

“You need a clear plan for either further training or using your psych background in allied fields—like UX research, HR, or policy—if you want sustainable income.”

This correlates with the experience of Dr. Azadeh Weber, who now runs a private practice in California where she says she makes $200,000 a year working part-time. But after graduating with a bachelor’s in psychology, she couldn’t find a job in her field and ended up with a career in tech sales, unrelated to her degree.

At the age of 30, she returned to education, attending graduate school, and became a doctor of clinical psychology at the age of 36.

“I believe the reason why getting an undergraduate degree in psychology is popular is because many people are intrinsically motivated to understand themselves and others,” she said.

“One of the most beautiful parts of my job is also learning from my clients. Everyone has something to teach others,” she said.

She noted that, had she stayed in her tech sales career, at this stage she “may be making the same income as I do now” but it would likely mean having to work “full-time at a corporation.”

“This would mean less time with my family. Overall, I am happy with my decision and love my job.”

Related Topics:Careers College jobs psychology

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Finance

Where in California are people feeling the most financial distress?

Published

1 hour ago

February 27, 2026

Press Room

Where in California are people feeling the most financial distress?

Inland California’s relative affordability cannot always relieve financial stress.

My spreadsheet reviewed a WalletHub ranking of financial distress for the residents of 100 U.S. cities, including 17 in California. The analysis compared local credit scores, late bill payments, bankruptcy filings and online searches for debt or loans to quantify where individuals had the largest money challenges.

When California cities were divided into three geographic regions – Southern California, the Bay Area, and anything inland – the most challenges were often found far from the coast.

The average national ranking of the six inland cities was 39th worst for distress, the most troubled grade among the state’s slices.

Bakersfield received the inland region’s worst score, ranking No. 24 highest nationally for financial distress. That was followed by Sacramento (30th), San Bernardino (39th), Stockton (43rd), Fresno (45th), and Riverside (52nd).

Southern California’s seven cities overall fared better, with an average national ranking of 56th largest financial problems.

However, Los Angeles had the state’s ugliest grade, ranking fifth-worst nationally for monetary distress. Then came San Diego at 22nd-worst, then Long Beach (48th), Irvine (70th), Anaheim (71st), Santa Ana (85th), and Chula Vista (89th).

Monetary challenges were limited in the Bay Area. Its four cities average rank was 69th worst nationally.

San Jose had the region’s most distressed finances, with a No. 50 worst ranking. That was followed by Oakland (69th), San Francisco (72nd), and Fremont (83rd).

The results remind us that inland California’s affordability – it’s home to the state’s cheapest housing, for example – doesn’t fully compensate for wages that typically decline the farther one works from the Pacific Ocean.

A peek inside the scorecard’s grades shows where trouble exists within California.

Credit scores were the lowest inland, with little difference elsewhere. Late payments were also more common inland. Tardy bills were most difficult to find in Northern California.

Bankruptcy problems also were bubbling inland, but grew the slowest in Southern California. And worrisome online searches were more frequent inland, while varying only slightly closer to the Pacific.

Note: Across the state’s 17 cities in the study, the No. 53 average rank is a middle-of-the-pack grade on the 100-city national scale for monetary woes.

Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com

Finance

Why Chime Financial Stock Surged Nearly 14% Higher Today | The Motley Fool

Published

14 hours ago

February 26, 2026

Press Room

Why Chime Financial Stock Surged Nearly 14% Higher Today | The Motley Fool

The up-and-coming fintech scored a pair of fourth-quarter beats.

Diversified fintech Chime Financial (CHYM +12.88%) was playing a satisfying tune to investors on Thursday. The company’s stock flew almost 14% higher that trading session, thanks mostly to a fourth quarter that featured notably higher-than-expected revenue guidance.

Sweet music

Chime published its fourth-quarter and full-year 2025 results just after market close on Wednesday. For the former period, the company’s revenue was $596 million, bettering the same quarter of 2024 by 25%. The company’s strongest revenue stream, payments, rose 17% to $396 million. Its take from platform-related activity rose more precipitously, advancing 47% to $200 million.

Image source: Getty Images.

Meanwhile, Chime’s net loss under generally accepted accounting principles (GAAP) more than doubled. It was $45 million, or $0.12 per share, compared with a fourth-quarter 2024 deficit of $19.6 million.

On average, analysts tracking the stock were modeling revenue below $578 million and a deeper bottom-line loss of $0.20 per share.

In its earnings release, Chime pointed to the take-up of its Chime Card as a particular catalyst for growth. Regarding the product, the company said, “Among new member cohorts, over half are adopting Chime Card, and those members are putting over 70% of their Chime spend on the product, which earns materially higher take rates compared to debit.”

Today’s Change

(12.88%) $2.72

Current Price

$23.83

Key Data Points

Market Cap

$7.9B

Day’s Range

$22.30 – $24.63

52wk Range

$16.17 – $44.94

Volume

562K

Avg Vol

3.3M

Gross Margin

86.34%

Double-digit growth expected

Chime management proffered revenue and non-GAAP (adjusted) earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance for full-year 2026. The company expects to post a top line of $627 million to $637 million, which would represent at least 21% growth over the 2024 result. Adjusted EBITDA should be $380 million to $400 million. No net income forecasts were provided in the earnings release.

It isn’t easy to find a niche in the financial industry, which is crowded with companies offering every imaginable type of service to clients. Yet Chime seems to be achieving that, as the Chime Card is clearly a hit among the company’s target demographic of clientele underserved by mainstream banks. This growth stock is definitely worth considering as a buy.

Finance

How young athletes are learning to manage money from name, image, likeness deals

Published

1 day ago

February 26, 2026

Press Room

How young athletes are learning to manage money from name, image, likeness deals

ROCHESTER, N.Y. — Student athletes are now earning real money thanks to name, image, likeness deals — but with that opportunity comes the need for financial preparation.

Noah Collins Howard and Dayshawn Preston are two high school juniors with Division I offers on the table. Both are chasing their dreams on the field, and both are navigating something brand new off of it — their finances.

“When it comes to NIL, some people just want the money, and they just spend it immediately. Well, you’ve got to know how to take care of your money. And again, you need to know how to grow it because you don’t want to just spend it,” said Collins Howard.

What You Need To Know

High school athletes with Division I prospects are learning to manage NIL money before they even reach college

Glory2Glory Sports Agency and Advantage Federal Credit Union have partnered to give young athletes access to financial literacy tools and credit-building resources

Financial experts warn that starting money habits early is key to long-term stability for student athletes entering the NIL era

Preston said the experience has already been eye-opening.

“It’s very important. Especially my first time having my own card and bank account — so that’s super exciting,” Preston said.

For many young athletes, the money comes before the knowledge. That’s where Glory2Glory Sports Agency in Rochester comes in — helping athletes prepare for life outside of sports.

“College sports is now pro sports. These kids are going from one extreme to the other financially, and it’s important for them to have the tools necessary to navigate that massive shift,” said Antoine Hyman, CEO of Glory2Glory Sports Agency.

Through their Students for Change program, athletes get access to student checking accounts, financial literacy courses and credit-building tools — all through a partnership with Advantage Federal Credit Union.

“It’s never too early to start. We have youth accounts, student checking accounts — they were all designed specifically for students and the youth,” said Diane Miller, VP of marketing and PR at Advantage Federal Credit Union.

The goal goes beyond what’s in their pocket today. It’s about building habits that will protect them for life.

“If you don’t start young, you’re always catching up. The younger you start them, the better off they’re going to be on that financial path,” added Nihada Donohew, executive vice president of Advantage Federal Credit Union.

For these athletes, having the right support system makes all the difference.

“It’s really great to have a support system around you. Help you get local deals with the local shops,” Preston added.

Collins-Howard said the program has given him a broader perspective beyond just the game.

“It gives me a better understanding of how to take care of myself and prepare myself for the future of giving back to the community,” Collins-Howard said.

“These high school kids need someone to legitimately advocate their skills, their character and help them pick the right space. Everything has changed now,” Hyman added.

NIL opened the door. Programs like this one make sure these athletes walk through it — with a plan.