Psychiatrists earned an average of $197,000 in 2014, compared to $323,000 — a jump of $126,000.
In 2014, psychiatrists were among the bottom six lowest-paid specialties out of 25 specialties surveyed. In 2024, they were the ninth-lowest earners of the more than 29 specialties included in that year’s report.
Despite typically being among the lower-paid specialties, the majority of psychiatrists have remained satisfied with their compensation over the last decade, with 59% saying they feel satisfied with their income in 2014 compared to 61% in 2024.
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