Answers. Best Answer: As a full time professor, they'd start out making between 40k (most small colleges) and 70k (top schools). Also, there are far more PhDs in psychology who want to teach college than there are jobs for them, so it takes a lot to get that job in the first place.ou can't teach at a 4-year college or university without a PhD, and they expect you to do research, publish frequently, and bring in grant money.