Psychiatry Salary Data
Median Salary
$360,000
Average Salary
$374,159
Salary Range
Percentiles
Breakdown
How much does a Psychiatrist make?
As of July 12, 2025, a Psychiatrist earns approximately $360,000 per year ($30,000 monthly). Based on an average 41-hour work week, this translates to about $176 per hour.
Salary Range and Market Analysis
From 69 verified physician salary submissions across the United States, SalaryDr is seeing total compensation ranging from $350,000 to $390,000, with top performers (90th percentile) earning up to $745,000 annually. Compared to the median physician salary of $300,000, Psychiatrist salaries are above the national median.
Career Growth and Employment Trends
The salary progression for Psychiatrist shows significant growth potential. Entry-level positions start at $374,962, while those with more than 10 years of experience earn a typical salary of $373,643 – a 0% increase.
Practice Settings and Compensation Structure
On average, base salary accounts for 83% of total compensation—about $311,884—with the remaining amount coming from bonuses, profit sharing, and incentives.
Work-Life Balance and Career Satisfaction
Psychiatry physicians report high career satisfaction, rating their specialty 4.0 out of 5, with 91% saying they would choose this specialty again.
Salary Distribution
Distribution based on 69 verified physician salary submissions.
Median Salary: $360,000
Physician Satisfaction in Psychiatry
Satisfaction Rating
Average satisfaction rating reported by Psychiatry physicians (1-5 scale).
Would Choose Again
Percentage of Psychiatry physicians who would choose this specialty again.
Career Satisfaction
Physicians cite the variety of cases and patient relationships as most rewarding aspects of this specialty.
Primary Challenges
On-call demands, administrative burden, and work-life balance are cited as the top challenges.
Salary Comparison
Location Statistics
Average Salary
$374,159
Median Salary
$360,000
Salary Range
$350,000 - $390,000
National Comparison
National Average
$374,159
Difference
+0% vs National Average
Sample Size
69 local / 69 national reports
Salary by Practice Type
| Practice Type | Average Salary | Sample Size |
|---|---|---|
| Private Practice | $411,273 | 11 submissions |
| Hospital-employed | $384,213 | 28 submissions |
| Academic | $347,759 | 29 submissions |
* Practice types with fewer than 3 submissions may be omitted for privacy.
Salary by Experience Level
| Years of Experience | Average Salary | Sample Size |
|---|---|---|
| 0-2 years | $405,857 | 7 submissions |
| 3-5 years | $332,543 | 11 submissions |
| 6-10 years | $371,641 | 39 submissions |
| 11-15 years | $383,125 | 8 submissions |
| 16+ years | $439,750 | 4 submissions |
* Experience levels with fewer than 3 submissions may be omitted for privacy.
Take-Home Pay Calculator
Popular Locations
New York City, NY
Average Salary: $400,000
Based on 150 reports
Los Angeles, CA
Average Salary: $380,000
Based on 120 reports
Chicago, IL
Average Salary: $350,000
Based on 100 reports
Houston, TX
Average Salary: $340,000
Based on 90 reports
Miami, FL
Average Salary: $360,000
Based on 80 reports
Boston, MA
Average Salary: $370,000
Based on 70 reports
* Showing locations with the most reported salaries.
* Some locations may be omitted if they have fewer than 3 reports.
Frequently Asked Questions About Psychiatry Salaries
What factors influence Psychiatrist salaries?
Psychiatrist salaries are influenced by geographic location, years of experience, practice setting (hospital vs. private practice), subspecialty training, and local market demand. Academic positions typically offer lower base salaries but may include benefits like research opportunities and protected time.
How do Psychiatrist salaries compare to other medical specialties?
Psychiatry offers competitive compensation, with median salaries in the mid-range compared to other medical specialties.
What is the job outlook for Psychiatrist?
The demand for Psychiatrist remains strong, driven by an aging population and increased access to healthcare. Job opportunities are expected to grow, particularly in underserved areas and growing metropolitan regions.
See How Residency Salaries Compare
Planning your career path? Check out our comprehensive residency salary benchmarks to see how PGY compensation compares across different specialties and regions.
View Residency Benchmarks