How Much Do Psychiatrists Make in 2020 (including Starting Salary)

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Psychiatrists career information
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diagnose, treat, and help prevent disorders of the mind.

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How Much Do Psychiatrists Make In 2020

Annual Salary, Salary Range, and Highest Paying States.

In this salary guide, you will find out how much do Psychiatrists make including their average annual salary, salary per hour, starting salary and the highest paying states. After reading this, you will be able to make a decision if working as a Psychiatrist will suit your financial goals.

Average Salary

Annual salary
$220380 per year

Hourly wage
$106 per hour

One of the most popular questions we get from our readers here is how much do Psychiatrists make per year and their hourly wage.

Starting Salary

Entry-level annual salary
$75590 to $149900 per year

Entry-level hourly wage
$36 to $72 per hour

Entry-level Psychiatrists with little to no experience can expect to make anywhere between $75590 to $149900 per year or $36 to $72 per hour.

Just like any other job, the salary of a Psychiatrist will increase as they become more experienced.

Salary Rank

Salary rank

We wanted to make it easy for our readers to compare the salary of a Psychiatrist to all the other careers out there. So we created Salary Rank. We compare the salary of all careers then we give them a rank of A, B, C or D depending on where their average salary sits in comparison to other careers.

After comparing how much do Psychiatrists make with other careers, they have a salary rank of A.

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Salary range

Highest (Top 10%)Over $100Over $200,000
Senior (Top 25%)Over $100Over $200,000
Middle (Mid 50%)Over $100Over $200,000
Junior (Bottom 25%)$72$149900
No experience (Bottom 10%)$36$75590

Highest paying states

HI$ 130$ 269,800
CT$ 124$ 258,200
ME$ 123$ 256,270
CA$ 123$ 255,790
NM$ 123$ 255,410
IL$ 121$ 251,390
MN$ 120$ 250,550
NJ$ 118$ 245,990
WA$ 118$ 245,990
IN$ 117$ 243,630

Another simple way to increase your salary as a Psychiatrist is to move to a higher paying state. However moving to a higher paying state like HI doesn’t guarantee that you will make more because the expenses at HI might be much higher than where you are currently living at right now.

According to BLS, the highest paid Psychiatrists are in the states of HI, CT, ME, CA and NM.

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