How Much Money Does a Forensic Psychiatrist Make?
Forensic psychiatry is a branch of psychiatry dealing with the intersection of the law and mental health. Forensic psychiatrists often work with the courts to determine whether an individual is mentally competent to stand trial, provide expert testimony when relevant to a particular case, and provide input into sentencing recommendations. This psychiatric sub-specialty can be very lucrative, potentially yielding as much as $250,000 dollars a year or more with the right training, experience and employer.
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Salaried Positions
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Forensic psychiatrists may work with the courts, the government, or law firms, as well as in jails, hospitals, or mental health institutions. Entry-level positions requiring only a master's degree may pay as little as $35,000 to $45,000 per year, while senior practitioners with doctoral degrees may command well over $100,000 to $200,000 per year, plus benefits.
Private Practice
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Forensic psychiatrists in private practice can command high hourly rates, ranging anywhere from $150 to $700 an hour, depending on sub-specialty, reputation and location, though most charge between $200 and $500 an hour. As with any professional in private practice, these forensic psychiatrists must bear the costs of their own office and staff expenses.
Practitioners who are called upon to testify as expert witnesses do not work on contingency. They are generally paid in full before their work begins, as payment issues may cloud their objectivity. -
Academics
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Many forensic psychiatrists are tenure-track faculty members who spend their days teaching students forensic psychiatry and conducting research in the field. These faculty members can earn from $40,000 to $150,000 dollars per year (plus health and retirement benefits and summers off) depending on their state, college of employment, years of teaching experience, and academic reputation.
Other Factors
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Forensic psychiatrists may work on child custody cases or other family issues like competency, criminal cases, malpractice cases or other civil litigation, and mental illness as it relates to specific cases. The salary of an individual forensic psychiatrist, particularly those in private practice, depends primarily on their reputation and their experience dealing with these issues. Location is also important: a forensic psychiatrist in New York City, for example, where both the median salary and cost of living are higher than the national average, would likely charge more than one in Wisconsin, where both figures are less than the national average.
Training
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Training to be a forensic psychiatrist in the United States typically involves completion of medical school, a residency in psychiatry, and a one-year post-residency fellowship in forensic psychiatry. After this, in their first post-fellowship jobs, they will begin to accrue the experience necessary to make a solid six-figure salary.
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