Psychiatrist SalaryThe average Psychiatrist Salary is calculated by the US Government Bureau of Labor Statistics from a variety of sources. Psychiatrists work in a number of settings including hospitals, clinics and schools. The average salary varies depending on the location and the setting. The assumption was made that the Psychiatrists reflected here were working an average of 40 hours per week with a total of 2080 hours per year.Psychiatrist Salary: Median Hourly & Annual Data Hourly The Psychiatrist average salary is $78.68 per hour. The lowest 10% earn $31.53 per hour and those in the upper 10% earn more than $80.00 per hour. Annually On an annual basis the median Psychiatrist Salary is greater than $163,660. The lowest 10% earn $65,590 per year while the upper 10% earn more than $180,000 per year. These salaries are calculated as a mean or average. Lowest and Highest Psychiatrist Salary The lowest paid Psychiatrists earn less with mean or average wages below $70 per hour. Presumably this is offset by costs of living and other factors. The lower pay levels are associated with rural areas. The highest pay levels are found in major metropolitan areas where the mean or average wage is over $100 per hour. Demand and low supply seem to be a significant factor in fueling higher salaries.
Top 5 States Top 5 Metropolitan Areas The best paying city or metropolitan areas are Other Industries that Employ Psychiatrists Vocational rehab, nursing care facilities and management of companies account for a small number of psychiatrists. An unknown number may be employed locum tenens through employment services. A small number are employed by the military and federal government. Employment Data There are over 22,210 Psychiatrists working in the Where They Work Of all the Psychiatrists employed in the Private Practice vs. Employment There is a rapidly growing trend in the healthcare arena is the use of the locum tenens. This is a doctor who agrees to a short term contract to fill in for a doctor who is on leave or extended absence. These contracts can be arranged individually by the doctor or through an intermediary such as an employment agency. The majorities of most physicians work are in private practice rather than employed by others. The majority of doctors in the Benefits Fringe benefits will vary depending on business size and other factors. A typical employment benefits package is worth over $20,000 per year. |