They are paid an average of $142.96 per hour, or $297,350 yearly.
By comparison, the average hourly pay for all psychiatrists nationwide is $118.92 per hour, or $247,350 yearly. There are significant variations between different settings.
Psychiatrist pay, by setting:
Occupation |
Employment |
Hourly mean wage |
Annual mean wage |
Cross-industry, Private, Federal, State, and Local Government |
26,500 |
$118.92 |
$247,350 |
Cross-industry, Private Ownership Only |
20,730 |
$120.85 |
$251,360 |
Healthcare and Social Assistance |
22,500 |
$120.72 |
$251,090 |
Other Ambulatory Health Care Services |
140 |
$142.96 |
$297,350 |
All Other Ambulatory Health Care Services |
140 |
$142.96 |
$297,350 |
General Medical and Surgical Hospitals – State government owned |
190 |
$138.12 |
$287,300 |
Psychiatric and Substance Abuse Hospitals – Privately owned |
1,210 |
$136.22 |
$283,330 |
Outpatient Care Centers |
3,280 |
$132.97 |
$276,570 |
Outpatient Mental Health and Substance Abuse Centers |
2,500 |
$132.64 |
$275,890 |
Offices of Physicians |
8,770 |
$131.46 |
$273,440 |
Ambulatory Health Care Services |
13,280 |
$128.71 |
$267,710 |
Psychiatric and Substance Abuse Hospitals |
2,930 |
$121.63 |
$253,000 |
Hospitals – State government owned |
1,930 |
$112.70 |
$234,410 |
Psychiatric and Substance Abuse Hospitals – State government owned |
1,700 |
$111.55 |
$232,020 |
Hospitals |
7,710 |
$107.47 |
$223,540 |
Hospitals – Privately owned |
4,990 |
$106.27 |
$221,030 |
Residential Mental Health and Substance Abuse Facilities |
560 |
$103.85 |
$216,000 |
Offices of Mental Health Practitioners (except Physicians) |
800 |
$103.23 |
$214,710 |
Hospitals – Local government owned |
800 |
$102.35 |
$212,890 |
General Medical and Surgical Hospitals – Local government owned |
770 |
$102.33 |
$212,850 |
General Medical and Surgical Hospitals |
4,550 |
$99.81 |
$207,600 |
General Medical and Surgical Hospitals – Privately owned |
3,590 |
$97.24 |
$202,270 |
Offices of Other Health Practitioners |
1,080 |
$91.54 |
$190,410 |
Specialty (except Psychiatric and Substance Abuse) Hospitals – Privately owned |
190 |
$86.81 |
$180,560 |
Specialty (except Psychiatric and Substance Abuse) Hospitals |
230 |
$78.89 |
$164,090 |
Specialty (except Psychiatric and Substance Abuse) Hospitals – State government owned |
40 |
$39.94 |
$83,080 |
Offices of Physical, Occupational and Speech Therapists, and Audiologists |
40 |
Data unavailable |
Data unavailable |
Nursing and Residential Care Facilities |
730 |
Data unavailable |
Data unavailable |
Residential Intellectual and Developmental Disability, Mental Health, and Substance Abuse Facilities |
660 |
Data unavailable |
Data unavailable |
Residential Intellectual and Developmental Disability Facilities |
100 |
Data unavailable |
Data unavailable |
Other Residential Care Facilities |
40 |
Data unavailable |
Data unavailable |
Social Assistance |
770 |
Data unavailable |
Data unavailable |
Individual and Family Services |
740 |
Data unavailable |
Data unavailable |
Federal, State, and Local Government |
2,540 |
$126.66 |
$263,450 |
Local Government, including schools and hospitals |
1,950 |
$127.46 |
$265,120 |
Federal, state, and local government, including government-owned schools and hospitals, and the USPS |
5,770 |
$111.98 |
$232,930 |
State Government, excluding schools and hospitals |
1,400 |
$111.30 |
$231,510 |
State Government, including schools and hospitals |
3,820 |
$104.11 |
$216,540 |
Local Government, excluding schools and hospitals |
1,140 |
Data unavailable |
Data unavailable |
Educational Services |
1,040 |
$72.45 |
$150,700 |
Elementary and Secondary Schools – Privately owned |
70 |
$137.90 |
$286,830 |
Elementary and Secondary Schools |
70 |
$129.40 |
$269,160 |
Colleges, universities, and professional schools – Privately owned |
410 |
$93.65 |
$194,780 |
Educational Services – Privately owned |
530 |
$92.85 |
$193,130 |
Colleges, Universities, and Professional Schools |
910 |
$70.23 |
$146,090 |
Educational Services – State government owned |
500 |
$50.64 |
$105,320 |
Colleges, universities, and professional schools – State government owned |
500 |
$50.64 |
$105,320 |
Professional, Scientific, and Technical Services |
140 |
$87.57 |
$182,140 |
Research and Development in the Physical, Engineering, and Life Sciences |
Data unavailable |
$115.14 |
$239,480 |
Scientific Research and Development Services |
100 |
$112.24 |
$233,470 |