Psychiatrist Salary Insights for 2024: Trends & Earnings
How Much Do Psychiatrists Make?
Understanding psychiatrist salaries is crucial for both job seekers and employers. The latest PhysicianWork salary survey reveals key insights into psychiatry compensation, helping psychiatrists and healthcare facilities navigate market trends.
Average Psychiatrist Salary in 2023
📊 $237,939 per year
The demand for psychiatric care remains strong as mental health challenges continue to rise nationwide. Although salaries have fluctuated since the pandemic, compensation is now stabilizing and aligning with pre-pandemic levels.
Salary Trends Over Time
Psychiatry salaries have seen ups and downs, with notable declines at the pandemic’s peak. However, telepsychiatry has emerged as a reliable care model, ensuring continued demand for psychiatrists in both traditional and remote settings.
Where Are Psychiatrists Working?
In 2023, psychiatrists found employment in various settings:
🏥 Hospitals – 28%
🏛️ Government Facilities – 18%
🏢 Federally Qualified Health Centers / Community Health Centers – 15%
Demographics in Psychiatry
📌 Male Psychiatrists – 48%
📌 Female Psychiatrists – 46%
📌 Non-Binary Psychiatrists – 1%
📌 Prefer Not to Answer – 4%
Why Psychiatry Remains a Strong Career Choice
With mental health awareness growing, the need for qualified psychiatrists has never been higher. Employers must offer competitive salaries and benefits to attract top talent, while psychiatrists should leverage the latest trends to maximize earning potential.
Find Your Next Psychiatry Job with PhysicianWork
Whether you're seeking a full-time or locum tenens psychiatry position, PhysicianWork connects top psychiatrists with leading healthcare facilities.
🔗 Browse Psychiatry Jobs Here: https://www.physicianwork.com/jobs/psychiatry
🚀 PhysicianWork: Connecting Psychiatrists with the Best Opportunities in Healthcare
⚠️ Note: Salary figures are based on PhysicianWork’s latest survey data and may vary based on experience, location, and facility type.