New research suggests that it’s actually the people at the top of the compensation pyramid who are paying the most, even though they’re more likely to work in high-paying jobs.
It also suggests that a new system that adjusts compensation based on seniority and experience may be needed in the future to keep the pay pyramid balanced.
The research by psychology professor and former Harvard University economist Charles Murray and his colleagues was published in the Journal of Personality and Social Psychology.
It suggests that some psychologists who are high-performing in their fields are earning more than their colleagues who are not.
The study found that the highest paid employees in the field were the ones who had a greater number of years of experience than their peers.
“The findings of this paper provide a more precise measure of the magnitude of the wage differential,” said Murray, a professor of economics at the University of Chicago.
The salary gap between highly paid professionals and less-skilled workers was as much as 14 percent in some fields.
The authors say this is a problem because the pay gap is not just between highly-paid and less highly paid workers, but between highly skilled and unskilled workers.
Murray’s study also found that psychologists who have a doctoral degree earn the highest salary, even if they have a lower number of full-time years of training.
That could mean that people with less education who are more qualified than their counterparts in the same field, who are paid more, are actually more likely than their less-qualified counterparts to be working in jobs that require more experience and/or education.
The report also found some disparities in the amount of money that psychologists receive.
For example, the average annual salary for a psychologist in the US is $115,500.
However, the salary for the highly-skilled psychologist is $161,000, a difference of nearly $4,000.
The authors note that the disparity between highly compensated and low-paid workers is not limited to the field of psychology.
Other areas of the economy are paying their top earners more, too.
The median household income for Americans with a bachelor’s degree or higher is $75,000 compared to $52,500 for those with a high school diploma or less.
A large percentage of psychologists work in jobs in which the pay is determined by experience.
Those in higher-paying fields earn more than those in lower-paying ones, according to the report.
The average salary for an experienced psychologist is about $180,000 and for someone in the lowest-paying field, it is $84,000.(ABC News: Amy Bui)In fact, Murray’s study found a significant difference in compensation for the top 20 percent of psychologists.
The top 20% of those who had at least four years of full academic experience received $1,839,000 in total compensation, or about $19,000 more than other top earners.
The researchers also found a gap in the amounts paid to experienced and experienced-but-not-psychologist workers.
The top 20-percent of psychologists who had five years or more of academic experience were paid about $11,000 less than those who did not.
In the first half of the 20th century, the pay of psychologists was not adjusted based on experience.
That changed in 1970, when the government started to adjust salaries based on years of professional experience.
“People in the upper echelons of the profession today have a lot of experience, and they’re paid more,” Murray said.
“In the early 1970s, the median salary was about $60,000 for someone who had three years of academic training.”
But that is not the case today.
The pay gap between the highest-paid professionals and the average worker is still significant, Murray said, and this gap could continue to widen as more people go into higher-paid fields.
“We need to have more data to see if this is really something that’s holding back pay,” Murray told ABC News.
“I think there’s more that needs to be done to get more accurate and detailed information.”
The study has many limitations.
It relied on data from a random sample of more than 2,000 people who worked as psychologists in the United States.
It was not designed to provide an accurate measure of how much compensation different people are paid.
The researchers did not include the average salary of psychologists, or the number of hours they worked.
The other study that the authors reviewed, from the same group, did not use the same methodology.
That study found the average income of highly compensated workers is $176,000 while that of less highly compensated ones is $97,000 a year.
The findings were published in The American Psychologist.