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Psychiatrist Salary

Psychiatrist Salary

The aim of this Buzzle article is to put forth details related to the salary range and the requirements to become a psychiatrist. Read on to know more.
CareerStint Staff
According to the Bureau of Labor Statistics, employment of physicians, in general, will increase 18% from 2012-2022.
Psychiatrists are medical doctors who treat people suffering from several mental illnesses. Due to our fast-paced life and high stress levels, demand for psychiatrists has seen a growing trend all over the world over the last few years. Because of this, their salaries have also become more attractive than several other professions. However, becoming a psychiatrist is no child's play. You need to be a brilliant student right from your school days, and then perform exceptionally well in your college years to become a psychiatrist.
To enter this field, one has to study hard for about 12-14 years, four years of undergraduate school, four years of medical school, and four years of residency and training. To get certified in a sub-specialty area, one has to complete a fellowship which usually takes a couple of years.
Salary Details
The salary of a psychiatrist largely depends on their educational qualifications, years of practical experience, and location of their work. A psychiatrist who works at a large hospital at a top position receives a very attractive salary. They are believed to earn much more than people working in different sectors.

◼ On an average, a psychiatrist earns around USD 189,000 per year according to Indeed. The salary for those who have just entered this profession is also quite impressive.
◼ According to PayScale, salary figures for entry-level psychiatrists can be in the range of USD 80,000 to USD 160,000 per year.
◼ In some cases, the salary can be well above USD 200,000. And it has the potential to grow at a fast speed with skills acquired and experience gained by those working in this fields.
◼ According to the Bureau of Labor Statistics (BLS), the median salary of psychiatrists is $181,880 per year.
◼ According to Salary dot Com, the median salary for psychiatrists is USD 204,394 per year.
◼ With an annual mean wage of $216,730, 'home health care services' is the top-paying industry for this occupation.
◼ The ones working for top hospitals in major metropolitan cities like New York, Los Angels, Chicago, San Francisco, and Washington earn around 40-75% more than those employed in other parts of the country.
◼ Wyoming ($260,820), Alaska ($232,480), Indiana, Mississippi, and Alabama were the top-paying states for this occupation according to the BLS.
◼ The earnings of self-employed psychiatrists can exceed that of salaried ones, once they gain a reputation for themselves.
Becoming a Psychiatrist
In order to complete your graduation in psychiatry, you need to score well in your high school. Most reputed medical schools would require you to clear an entrance test, and admissions will be given on the basis of scores in this test. So, you will have to get an impressive score in the Medical College Admission Test (MCAT). Once you are done with your graduation with a good score, you can apply for a specialization degree in criminal psychiatry, forensic psychiatry, child psychiatry, or in any other field of your choice. You should understand that completing this residency program which consists of four years of rigorous and practical study along with licensing exams is essential in order to work professionally as a psychiatrist. Getting relevant experience under the guidance of an experienced psychiatrist can surely help new entrants in this field. In general, psychiatrists need to have strong interpersonal and communication skills. They can get opportunities to work in government as well as private hospitals.
Psychiatrists diagnose and treat mental, emotional, and addictive disorders. The treatment may involve psychotherapy, psychoanalysis, medication, and hospitalization, or a combination of some of these methods. Their earnings are among the highest of all occupations. However, their life is quite stressful. Working hours can be long and irregular.
Hopefully, this article will prove to be useful for you. All the best for your career.