The term "Psychologist" may describe professionals with at least 4 years at university followed by 2 years of supervised work. The area of work is varied and these Psychologists are often referred to as "Registered Psychologists" or "Generalist Psychologists". Currently, those with endorsed "Clinical Psychologist" status have a higher Medicare Rebate then Registered Psychologists and all hold a Master of Psychology degree (as do Counselling Psychologists and Neuropsychologists to mention just a few).
The Masters training in Clinical Psychology is based around the treatments for diagnosable mental health conditions. However, there are excellent therapists from all sorts of backgrounds and at various registration levels. Having a PhD or Masters degree does not indicate superiority as a therapist, but can contribute to an increased understanding of diagnosable mental health conditions such as Depression or Generalised Anxiety Disorder.