The job of a psychiatrist is to diagnose, treat, and prevent emotional, mental, and behavioral disorders. Many of the treatments and diagnosis involved in psychiatry requires intimate knowledge of the biochemical processes happening within the human body. Thus to become competent enough to perform the functions of a psychiatrist one must undergo many years of training and tutoring.
Only after a decade or so of training and studying can one become a fully-fledged psychiatrist. After so many years of sacrifice, it’s only fair to expect a salary that compensates you for the time and effort put into pursuing psychiatry as a career. But what is a realistic expectation of the salary you’ll receive as a psychiatrist?
Psychiatrist average wage and salary information
Luckily for you and I the United States Department of Labor has compiled that information for those who are interested in knowing the salary range of the profession. According to the United States Department of Labor, the average psychiatrist will earn $193,680 annually with an hourly rate of $93.12. What about the top and bottom earners? Well, the Department of Labor does not fail in mentioning their yearly earnings.
The worst paid psychiatrists have an annual salary of $59,430 with an hourly rate of $28.57. That’s less than half of what the average psychiatrist earns each year. On the opposite end of the spectrum, the highest paid psychiatrists can bring in as much as $250,090 each year. But the salary of a psychiatrist varies from state to state and between industries.
So although the national average salary is $193,680 the average psychiatrist in the state of California may earn a bit more than that. In fact, the highest paid psychiatrist are employed under home health care services, scientific research and development services, the state government, outpatient care centers, and individual and family services. Psychiatrists employed within these industries earn between $231,400 (home health care services) and $204,850 (individual and family services).
Income By Location
On the other hand, psychiatrists living in states like California, Alaska, Wyoming, South Dakota, North Dakota, Minnesota, Iowa, Indiana, Kentucky, Mississippi, Georgia, North Carolina, and New Jersey have average annual salaries that are the highest of all the states. Psychiatrists living within these states earn on average as much as $250,090 annually in the state of California and as low as $214,010 annually in the state of North Dakota. States like Washington, Oregon, Arizona, Colorado, Texas, Wisconsin, Ohio, Alabama, Connecticut, New Hampshire, and Vermont have the second highest average annual salary range of all the states.
These states pay psychiatrists between $195,780 and $213, 620 with Washington having the lowest annual mean wage and Connecticut having the highest annual mean wage. States like Nevada, Nebraska, Missouri, Kansas, Tennessee, South Carolina, Virginia, Pennsylvania, Michigan, Puerto Rico, New York, and Massachusetts have an average annual salary range that’s between $169,770 and $194,000 with Tennessee paying psychiatrists the most and Missouri paying the least.
Coming in dead last are the states of Montana, Utah, New Mexico, Oklahoma, Arkansas, Louisiana, Illinois, West Virginia, Florida, and Hawaii. Psychiatrists within these states earn, on average, between $105,540 and $161,600 annually. However, in the coming years, these wages are set to increases as demand for the service increases.