Salary Ranges for a Psychiatrist

Though your general practitioner can manage many medical conditions, he may refer you to a host of specialists for specific treatment. These include internists for your organs, orthopedists for your bones or psychiatrists, who handle mental health. Though some psychiatrists may work at hospitals and other health care facilities, many work in private practice to treat the mind in individual or group settings. They may often bring in family members of the patient to find solutions.

Salary

As of April 2010, psychiatrists start out with a salary of $50,868 to $145,422 per year according to The PayScale Report. At one to four years of experience, they earn $99,262 to $158,162 and at five to nine years, they make $127,962 to $185,625. Finally, at 10 to 19 years, they receive $140,070 to $185,107 and at 20 or more years, they get $144,647 to $197,455.

Employer

PayScale reports that the type of employer affects compensation. Those working in hospitals earn $122,260 to $181,246 while those who work for themselves get $118,192 to $230,507. Those in the federal government earn $139,000 to $177,702 and those in state and local government receive $128,554 to $174,308. Psychiatrists in colleges or universities average $114,717 to $153,909 while those at nonprofit organizations are paid $136,084 to $176,069. Finally, those with fellowships make $24,250 to $130,500 and those under contract receive $57,600 to $213,800.

Industry

Pay varies according to industry says PayScale. Healthcare, for example, pays $125,537 to $179,963 while community mental health averages $129,850 to $179,706. Specialists in psychiatric services are paid $99,872 to $179,596 and those in general medical services receive $127,539 to $175,373. Finally, those in psychiatric hospitals receive $129,994 to $175,549.

Location

Where a psychiatrist practices determines income according to PayScale. New Yorkers average $102,231 to $164,183 and Los Angelenos get $132,257 to $201,683. Those in Chicago make $97,591 to $151,014 while those in Atlanta earn $98,710 to $166,000. Finally, those in Pittsburgh receive $100,000 to $147,052 and those in Boston are paid $109,875 to $188,818.

Outlook

The Bureau of Labor Statistics predicts that employment for all physicians, including psychiatrists, will grow at 22 percent from 2008 to 2018, which is faster than average for all occupations. Much of this growth is driven by the aging American population who demands more and more psychiatric services. Job prospects should be especially good in rural and low income areas, which are typically under served by this profession.

References

• Bureau of Labor Statistics: Physicians