What is the Average Salary of an Entry-Level Psychiatrist?

<p>Psychiatrists are responsible for using psychotherapy, psychoanalysis and medication to assess, prevent and treat mental illnesses. They administer tests to patients to assess their mental condition and discuss patients' behavior and state of mind. If the patients' problems can't be resolved through these techniques, psychiatrists often prescribe medicine to help the patients cope with their mental issues. They also often advise medicinal therapy for issues like anxiety, depression and schizophrenia. Below are major requirements to <a href="https://learn.org/articles/Psychiatrist_5_Steps_to_Becoming_a_Psychiatrist.html">becoming a psychiatrist</a>. </p> <h3 id="section---ImportantFactsAboutThisOccupation">Important Facts About This Occupation</h3> <p /> <table border="1"><tr><td>Required Education</td><td> Doctoral or professional degree</td></tr> <tr><td>On-the-Job Training</td><td> 3 to 8 years in a residency program</td></tr> <tr><td>Licensure</td><td> Required by all states; must pass the U.S. Medical Licensing Examination (USMLE)</td></tr> <tr><td>Professional Certification</td><td> Voluntary specialty certification may increase job prospects; must pass an exam by the American Board of Medical Specialties</td></tr> <tr><td>Key Skills</td><td> Organizational, leadership, communication and problem-solving skills; stamina, dexterity, compassion, patience and attention to detail</td></tr> <tr><td>Similar Occupations</td><td> <a href="https://learn.org/articles/Chiropractor_5_Steps_to_Becoming_a_Chiropractor.html">Chiropractor</a>, optometrist, dentist, podiatrist, registered nurse</td></tr> </table><h3 id="section---WhatIsTheStartingSalaryForAPsychiatrist">What is the Starting Salary for a Psychiatrist?</h3> <p>Overall, psychiatrists in the United States had a mean salary of $220,380 in May 2018, according to the U.S. Bureau of Labor Statistics (BLS). The BLS reports that the bottom 10% of these professionals made $75,590 or less, and the top 10% made $208,000 or higher. Since entry-level professionals usually earn lower salaries than more experienced employees do, psychiatrist starting salaries likely fall within the lower range of these earnings. </p> <p>Data collected by <i>PayScale.com</i> indicated that those with less than five years of experience made an average salary of $183,000 in May 2019. Psychiatrist starting salaries also depend on factors like employer, state and city. As psychiatrists acquire 10 years of experience or more in the industry, they can earn a potential average of $215,000 per year. </p> <h3 id="section---SalaryByIndustry">Salary by Industry</h3> <p>According to the BLS, psychiatrists working for home health care services made the highest average salary of $253,370 in May 2018. High average salaries were also found in local government ($253,140); community food and housing, and emergency and other relief services ($236,960); offices of health practitioners ($231,090); and outpatient care centers ($241,820). Average salaries were relatively lower for those working in educational services ($173,070); colleges and universities ($170,460); and services for the elderly and disabled ($178,910). </p> <h3 id="section---SalaryByLocation">Salary by Location</h3> <p>Psychiatrists in Hawaii ($269,800), Connecticut ($258,200), Maine ($256,270), California ($255,790), and New Mexico ($255,410) earned the highest average salaries in May 2018, according to the BLS. Average salaries ranged from $87,720-$189,190 in states with the lowest pay, including Louisiana, Utah, Arkansas, Montana, and Oklahoma. </p> <p>On the community level, psychiatrists in the Stockton-Lodi, CA; Sebastian-Vero Beach, FL; and Sacramento-Roseville-Arden-Arcade, CA metro areas earned the highest salaries. The top-paying non-metropolitan areas included Southern Colorado, Southern Pennsylvania, and Eastern New Mexico. </p> <h3 id="section---JobOutlook">Job Outlook</h3> <p>Under 'physicians and surgeons' the BLS estimates that psychiatrists will experience an 11% employment growth for the 2016-2026 decade, faster than the average for all jobs. The aging population will call for greater demand of professionals in this industry, due to cognitive mental disorders such as Alzheimer's disease and dementia. There will also likely be plenty of job opportunities among the aging prisoner population in correctional facilities.</p>