I did get a Bachelors in psych. You really do have to go on in school to do much with it.
From my understanding, many with a Bachelors in psych. work for insurance companies.
As for me, I got into sales. Psych and sales go together (according to all the interviewers I remember when I was young and going into the first job). From there, it depends on the skills of the person: how quickly they catch on, how fast they can learn the old hard and true lesson of "work smart, not hard," how competitive they are, etc.
How much can they earn? Well, I made 6 figures when I owned the small company I had. I made $25K in 1974 when I first graduated (which was great money then). The point is: you can definitely make money in sales, but it depends on the person (no surprise there).
Everyone and I mean EVERYONE thinks they can sell. Not.
So much will depend on the above, but so many salespeople get discouraged and then lazy. It really is a hustler's game in many ways where you (as they told me in Chicago when I first started) "slap some sh*t against the wall and hope something sticks." Is this kid a sales type?
Before you panic at this kid's degree, evaluate how quick this youngster is at catching on, how good at manipulating things, how strategic the thinking is, how hard a worker they are, etc.
You can turn this degree into gold if you have the right qualities for selling. Been there, done that.
Now, if this person isn't sales material there are PLENTY of jobs that just require "a" degree. From reading biographies of some of the high achievers in the Wall Street Journal obits, I am constantly surprised at the odd degrees they have for what they ended up actually doing, that is, owning/running some of the largest companies out there (philosophy, classic lit, Asian studies, etc.). I contend that this kid will do the best in school studying something he/she has a real interest in. But that's just my opinion.