How Much Do Psychiatry Physicians Make?
Having a clear understanding of earnings potential is important, especially if you are researching career paths or considering changing jobs. If you're one of those people, and you're curious what kind of salary psychiatry physicians make, you've come to the right place.
Using data from Lightcast,™ the Best Adult Colleges and Careers Guide has compiled rich information about salary for psychiatry physicians and related jobs, including details about average compensation, salary trends and job growth. We've also gathered advertised salaries from actual job postings to provide insight into what employers of psychiatry physicians are offering as compensation.
Keep reading to learn more about how much psychiatry physicians can expect to make in the United States.
At a Glance: Salary & Jobs for Psychiatry Physicians
According to data from 2023, there were about 27,613 positions for psychiatry physicians in the United States. In terms of salary, the national median salary for psychiatry physicians was reported to be $239,200. Additionally, when examining job demand, employers across the country posted 35,628 job postings related to positions for psychiatry physicians.
How Much Money Do Psychiatry Physicians Make?
Median salary is just one data point. To build a better understanding of how much money psychiatry physicians and related positions can expect to make in the United States, it can be helpful to look at the full range of compensation for those jobs.
Let's look more deeply at data that was reported to the U.S. Bureau of Labor Statistics (BLS) for detail into the lowest and highest salary earnings for psychiatry physicians.
Annual Salary for Psychiatry Physicians
According to the BLS, the lowest earners for psychiatry physicians and related professions earned about $73,278 per year in 2023. Meanwhile, at the other end of the spectrum, the highest earners made about $431,620 annually.
As mentioned previously, the median salary for psychiatry physicians in the United States in 2023 was $239,200.
Annual Salary Range For Psychiatry Physicians In 2023
Hourly Salary for Psychiatry Physicians
The BLS also breaks down compensation for psychiatry physicians by hourly salary, and the median average hourly pay for psychiatry physicians in 2023 was $115. Lowest hourly earners took home $35 while the highest reported hourly salaries for psychiatry physicians was $208.
Hourly Salary Range For Psychiatry Physicians In 2023
Advertised Compensation for Psychiatry Physicians
Data from the BLS is one way to dig into compensation for psychiatry physicians, but another way to build a more real-time understanding of salary is to look at actual job postings and see what compensation organizations are currently providing to fill open positions for psychiatry physicians.
Keep in mind that salary data is not included in every job posting, so the information compiled here is reflective of the data available through Lightcast.™
Annual Salary from Job Postings for Psychiatry Physicians
Advertised Annual Salary
During a review of 51,013 job postings related to psychiatry physicians, advertised salary was included in 9,571 of them, which was 19%. Based on those postings, the median advertised salary for psychiatry physicians was $296,832 per year.
Hourly Salary from Job Postings for Psychiatry Physicians
Advertised Hourly Salary
A similar analysis of job postings provides insight into advertised hourly salary for psychiatry physicians. Based on 27% of postings with advertised compensation, the median hourly salary for open positions for psychiatry physicians in the United States is about $143.
Salary Trend for Psychiatry Physicians
If you're thinking about pursuing a career in the field, you may want to understand how compensation has changed over time for psychiatry physicians. The chart below provides a snapshot of advertised salaries over the past three years.
Based on compensation data that was included in job postings for psychiatry physicians dating back to September 2020, advertised salaries for psychiatry physicians have increased 23%.
Advertised Wage Trend For Psychiatry Physicians
What's the Job Growth for Psychiatry Physicians?
Another data point that someone thinking about a career path should consider is whether or not jobs are expected to see growth in the future. The chart below looks at projected employment for psychiatry physicians over the next 10 years.
According to the data obtained through Lightcast,™ there were 27,599 jobs for psychiatry physicians in the United States in 2023. By 2033, it is expected that about 3,078 jobs will be added. That's a 11.2% increase over the next 10-year period.
Employment Projections For Psychiatry Physicians
Additional Links
Ready to dig deeper into career information about psychiatry physicians? Visit our other pages focused on salary and education for psychiatry physicians.
What do psychiatry physicians do?
Psychiatry Physicians: How do you become one?
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