How Much Are Psychiatrists Paid?

Psychiatrists are medical doctors who study the human mind, behaviors and emotions. They earn their medical license after completion of their psychiatric specialty in medical school. Psychiatrists work in hospitals, public clinics, private offices or out of their homes. Some are even employed by the military and provide psychiatric services to soldiers.

Considerations

• Where psychiatrists work determines their salary. A self-employed psychiatrist can set his own hourly prices which might be higher than psychiatrists who work for public health centers with fixed salaries. Psychiatrists are also compensated based on training, experience and specialties.

National Wage Averages

• According to the Bureau of Labor Statistics (BLS), as of May 2009, the mean hourly wage for psychiatrists was $78.68. The mean annual wage was $163,660.

Industry Analysis

• BLS reports that psychiatrists were paid the highest, on average, when working for outpatient care centers and nursing care facilities. The lowest paying facilities were physicians' offices and local government.

State Profiles

• Oregon is reported as being the highest paying state in the U.S. for psychiatrists. In Oregon, psychiatrists were paid an average of $105.51 per hour, or $219,450 per year, according to BLS. Next on the high-paying list was Wyoming, followed by Minnesota.