The interest in studying psychology has dramatically increased in the recent decades in Turkey. However, only 60% of psychology graduates work in jobs related to psychology. Moreover, there is no data on employability and job distribution of psychology graduates or on their job satisfaction. In the current study, the authors' first aim was to assess the employability of psychology graduates, and their job satisfaction in Turkey. Secondly, they examined the specific advantages of having a postgraduate degree over a bachelor's degree. Using an online survey they compared psychologists with and without postgraduate degrees on different aspects of employability as well as their job satisfaction, income, and promotion opportunities. Results showed that psychology graduates were mostly working in clinical and educational settings, and about half of them had a postgraduate degree. The majority of psychologists were somewhat satisfied with their jobs. Additionally, the authors found that having a postgraduate degree, compared to a bachelor's degree, meant less time spent on job searching, a higher salary, and higher job satisfaction. Findings are discussed in relation to teaching of psychology and challenges that face psychology graduates regarding employability in Turkey.