Psychiatrist salaries jumped 7% in 2023

Psychiatry was among the medical specialties with the largest compensation growth rates in 2023, according to Doximity's annual physician compensation report published May 23. 

Psychiatrists earned an average of $332,976 in 2023, a 7.2% increase from 2022. 

According to Doximity, compensation was flat or down across most specialties in 2022. Most specialties saw increases in compensation in 2023. 

Hematology saw the largest increase in pay in 2023, with the average salary rising 12.4% to $392,260. 

Average physician compensation rose by 6% in 2023, according to the report. Four in 10 physicians surveyed by Domiximity reported being satisfied with their compensation in 2023. 

Read the full report here. 

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