The US Census Bureau recently released a study correlating college majors with salaries, and the news was not good for Psychology majors. Psychology (counseling psychology in particular at an average annual salary of $29,000) were among the majors with the lowest salaries (high earning salaries: petroleum engineering at $120,000; business majors at $75,000). But there are other reasons for sticking with that psychology major.
1. Psychology is a good, "general" undergraduate degree. Although a bachelor's degree in psych doesn't lead to defined jobs, like a major in accounting or petroleum engineering might, it provides a good understanding of human behavior, and grounding in social science methodology (yes, those tough research methods and statistics courses will pay off later). A savvy graduate with a psychology bachelors degree can land a career in business, research positions in marketing or program evaluation, and a variety of other careers.
2. Psychology is a good "first step." Psychology majors are welcome in a number of graduate programs, and can go on to get an MBA, a law degree, or a Masters in human resources, social work, and a variety of other specializations. Again, it takes some advanced planning, and you need to use your elective courses wisely to explore some of these fields (and to take prerequisites, or demonstrate an interest in a particular field).