From what I hear the pay is below the private sector, however when you add up all the over time (unpaid as it is) you do in the private sector, I'm pretty sure it's even, if not better.
That, and Psych is a great area to study if you want to get into HR too. And in your situation, it also serves as a pretty good backup.
The only other thing I can recommend is trying to get some work experience to see if it's what you really want to do.
