I like the Psy.D. over a MA or Specialist degree because it allows me the option of having a private practice on the side. My ultimate goal is to work in a school setting one day, and the Ph.D. and Psy.D. seem equally equipped to get me there.
I also do not want to be in school for the rest of my life (I am going straight from undergrad). At the Psy.D. program I am considering, if I stick to a certain schedule, then I will be able to graduate in four years. However, at the Ph.D. program I am considering, the average number of years it has taken people to graduate is 8 or 9. I think I prefer the school that is more committed to get its students out and done within a reasonable amount of time.
The prestige of the Ph.D. is something that I can't ignore, though I am still not sure if it is worth all those years... In my field, I am not sure if employers will even know or understand the difference. I think it may only become an issue if I decide I want to teach at the university level... that is unlikely for me, but still, is there any hope for people with the Psy.D. as an adjunct?