The benefits of Psi Beta may include:
- Members gain recognition for achieving the honor of membership. Among the entities that recognize Psi Beta membership: Psi Chi, APA, APS, psychology departments at colleges and universities, and employers.
- Verification of membership for references throughout the member's lifetime.
- Eligibility for national awards (e.g., the student research paper awards provide cash prizes of $500, $300, and $200 to three winning students).
- Eligibility for these different annual awards: Building Bonds, Chapter Excellence, Chapter Community service, Individual Community Service, College Life Award, and Faculty Advisor.
- Publication of membership and activities in the nationally distributed Psi Beta Newsletter.
- Opportunities for ethnic minority students to participate in the annual Diversity Project mentoring program during the annual conference of the American Psychological Association.
- Psi Beta offers the experience of operating a chapter and provides opportunities to acquire leadership skills, interact with faculty outside the classroom including field trips, learn more about the professional and educational choices available in psychology, meet outstanding professionals in psychology, participate in community service, meet peers with similar interests, and be involved with Psi Beta on the national level.
- Opportunity to be designated as a Psi Beta honors graduate and wear Psi Beta honors regalia at graduation from Motlow College.
- Psi Beta membership contributes to the member's confidence and feelings of self-worth.
- Psi Beta offers the opportunity to participate in national, regional, and local psychological association programs, including paper and poster presentations at professional conferences.
- Psi Beta student members are eligible for student affiliate membership in the American Psychological Association (APA) and the Association for Psychological Science (APS).
- Psi Beta membership meets one of the requirements for entrance at the GS-7 level (2 levels higher) in numerous occupations in Federal service.