How Much Does a Psychiatrist Make?

The salary of a Psychiatrist can be influenced by a variety of factors, with one of the most significant being their level of experience. Just like in other professions, the more years a Psychiatrist has spent in practice, the higher their earning potential. This reflects the advanced skills, deeper knowledge, and greater expertise they've gained over time. Moreover, the type of education a Psychiatrist has also plays a pivotal role. Psychiatrists with higher qualifications or specific certifications often command higher salaries, as this signifies they possess an enhanced skill set and a broader understanding of the field.

Specialization is another element that can impact a Psychiatrist's income. For instance, those specializing in child and adolescent psychiatry, addiction psychiatry, geriatric psychiatry, or forensic psychiatry, among others, may earn more due to the specialized and often complex nature of these fields. Lastly, location makes a difference too. Psychiatrists working in urban areas, where the cost of living is usually higher, tend to receive higher salaries compared to their counterparts in smaller towns or rural areas. This is also impacted by the supply and demand of Psychiatrists in the area, which can cause salaries to fluctuate.

Top Salary Locations for Psychiatrist Jobs

25%+

15% to 24%

5% to 14%

Industry Average

-5% to -14%

-15% to -24%

-25% or more

Salary for Psychiatrist Jobs Nationwide

This is the average annual salary for Psychiatrist jobs nationwide as reported by the BLS.

$256,930

How Do You Negotiate Salary as a Psychiatrist?

You've completed your training, developed your expertise, and now it's time to discuss salary. Whether you're a new hire or a seasoned Psychiatrist wanting a raise, be prepared and know your worth. To determine your market value, utilize the iHireMentalHealth Salary Research Tool. It provides accurate and up-to-date salary data for your career title and location. This will give you the power to negotiate with confidence. Remember, your skills and knowledge are valuable and they deserve to be compensated fairly!

When negotiating your salary, be sure to communicate your accomplishments and the unique value you bring as a Psychiatrist. For those wanting a raise, it's crucial to demonstrate your contribution to the organization and the industry. Discuss ways in which you've positively impacted patients and the facility. If you're a new hire, negotiate by emphasizing your qualifications, specialty training, and the potential benefits you can bring to the practice. In both scenarios, be enthusiastic yet professional, and always prepared with your research from the iHireMentalHealth Salary Research Tool. Remember, negotiation is a process, not a one-time event, so be patient and persistent.

Average Work Experience

Here's a breakdown of the number of years' experience offered by Psychiatrists

4-6 years

28.8%

6-8 years

21.7%

1-2 years

20.6%

2-4 years

12.9%

10+ years

6.9%