Psychiatrist Salary Guide
Ever wonder how much do psychiatrists make? Or how does the salary for psychiatrists compare across states and between perm and temp work? Follow along to find out!
Explore our psychiatrist salary guide to find:
- Psychiatrist Salary
- Physician Salary by State
- How Do Psychiatrist Salaries Compare Against Other Physician Specialties?
- How Much Will Psychiatrists Make in 2024?
Looking for psychiatrist jobs? Check out our open psychiatrist assignments nationwide.
How Much Do Psychiatrists Make?
The average annual psychiatrist salary is $247,350 per year in the U.S., according to the United States Bureau of Labor Statistics. That being said, psychiatrists make a total of $309,000 per year, according to Medscape’s 2023 psychiatrist compensation report.
The average annual compensation for psychiatrists has increased by 8% from 2022 to 2023, an avenger higher than most specialties.
How Much Do Locum Tenens Psychiatrists Make?
Locum tenens psychiatrists can make up to $200 per hour on average, however, there are many factors that impact rates including location, years of experience, and the level of demand.
If you were to extrapolate that rate over a year (at 40 hours per week), the average locum salary comes out to around $416,000.
That means locum tenens psychiatrists can make roughly 35% more than the average provider. However, making direct salary comparisons can be complicated. While perm psychiatrists are more likely to be salaried, locum tenens psychiatrists are independent contractors earning an hourly rate, which can vary based on which assignments they take in a year.
Furthermore, because locum tenens psychiatrists are paid by the hour, the hours they work are directly reflected in their pay, while a salaried psychiatrists additional hours may not be reflected in their salary. Finally, paid time off and insurance may be reflected in the perm psychiatrists salary structure, but locum tenens providers do have options when it comes to health insurance.
Psychiatrist Salary by State
The most recent state breakdown of psychiatrist salaries comes from the US Bureau of Labor Statistics. The BLS was not able to collect enough data for all 50 states, however the top 5 highest paying states for psychiatrists salary include:
- New Mexico
- North Dakota
How Do Psychiatrist Salaries Compare Against Other Physician Specialties?
Psychiatrists are in the bottom half of the 30+ physician specialties surveyed in the Medscape 2023 compensation report. The top five specialties (plastic surgery, orthopedics, cardiology, urology, gastroenterology) all reported annual income of greater than $500,000.
How Much Will Psychiatrists Make in 2024?
Psychiatrist salaries have increased by 43% since 2015, according to the Medscape annual compensation report, with an increase of 8% from 2022 to 2023 alone. Based on this data, it is safe to estimate that psychiatrists will make an annual salary of $333,720 in 2024.
Explore Our Open Dermatologist Jobs
Your next locum tenens opportunity awaits in Montana! Our client is looking for a forensic psychiatrist to begin coverage immediately. Hours include 8a - 5p shifts from Mondays - Fridays. The selected locum will be handling all aspects of forensic psychiatry cases and procedures. There is a chance for an... View This Job
Your next locum tenens opportunity awaits in Massachusetts! Our client is looking for a psychiatrist to begin coverage in early April. Hours include 8-10 hour shifts for 4-5 days per week. The selected locum will be handling bipolarity, schizophrenia, depression, anxiety, and other psychiatry cases. There is a chance for... View This Job
Looking for your next locum tenens opportunity? Look no further! Our client in New York is looking for a psychiatrist to begin coverage in early June. Hours include 9a - 5p shifts from Tuesdays - Saturdays. The selected locum will be handling ADHD, bipolarity, med management, and other psychiatry cases.... View This Job
Your new job is waiting in New York! Our client is looking for a psychiatrist to begin coverage immediately. Hours include 4 hour shifts with some call coverage after. The selected locum will be handling ADHD, depression, anxiety, mood disorders, and other psychiatry cases. There is a chance for an... View This Job
Find Your Next Psychiatrist Job with Barton
Barton coordinates your job search from start to finish!
TALK WITH A REP
We’ll schedule a phone consultation with a Barton Associates team member to discuss your interests, goals, and work history in order to get a sense of what you’re looking for in your next job.
Your Barton team will then go to work, compiling a list of open jobs in our extensive network that match your interests and skill set.
REVIEW YOUR OPTIONS
Once you’ve had a chance to evaluate your list of opportunities, your Barton rep will submit your information to facility you want to take an assignment at.
If there’s a match, we’ll work with the client manager on next steps.