What is the average psychiatrist salary in the US?

Psychiatrist salary in the US averages $280,000–$330,000 annually per MGMA and Medscape 2024 survey data, ranking psychiatry consistently among the five highest-compensated medical specialties nationwide.

How much does a child psychiatrist make per year?

Child psychiatrists earn approximately $300,000–$360,000 annually, with private practice child psychiatrists frequently exceeding $370,000 due to critical provider shortages in pediatric and adolescent mental health nationwide.

Do private practice psychiatrists earn more than employed psychiatrists?

Private practice psychiatrists earn 10–20% more gross revenue than employed peers, but net income advantage narrows substantially after accounting for overhead, malpractice premiums, and benefits not covered by an employer.

How does experience affect psychiatrist pay?

Psychiatrists with 11–20 years post-residency typically earn 25–35% more than those in their first two years, reflecting seniority premiums, established referral networks, and higher wRVU productivity benchmarks recognized by most employer contracts.

What is the highest-paying psychiatry subspecialty?

Child and adolescent psychiatry and forensic psychiatry are the highest-paying subspecialties, commanding approximately 8–12% above general adult psychiatry base compensation due to board certification demand premiums.

Does telepsychiatry pay as well as in-person practice?

Telepsychiatry platform rates of $150–$250 per hour appear higher, but after self-employment taxes, malpractice coverage, and benefits costs, net income typically aligns with mid-range outpatient employed positions rather than exceeding them.

How does addiction psychiatry compare in pay to other subspecialties?

Addiction psychiatry base pay runs roughly $8,000–$12,000 below general adult psychiatry, but FQHC positions offer Public Service Loan Forgiveness eligibility that can add significant net annual compensation value over a qualifying 10-year period.

Is psychiatrist salary growing year over year?

Psychiatrist salary has grown 4–7% annually since 2021 per MGMA trend data, driven by a worsening nationwide provider shortage and rising mental health service demand following the COVID-19 pandemic.

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Psychiatrist Salary Calculator