2026 Salary Report

Psychiatrist Salary

Q: Which states pay psychiatrists the most?

Per BLS OEWS data , top-paying states include New Mexico, Connecticut, Maine, North Dakota, Wisconsin, and Arizona, where psychiatrist mean wages run well above $300,000. Many of the highest-paying states are rural or shortage areas that pay premiums to recruit. The lowest-paying states, like West Virginia, can sit closer to $130,000. High pay often tracks shortage, not cost of living.

Psychiatrists are the highest-paid clinicians in mental health, and the BLS puts their mean wage above $269,000. But the official numbers come with a catch: federal data top-codes the highest physician wages, so the published median understates what attendings actually earn. Here is what psychiatrists really make in 2026, broken down by state, experience, employer, and subspecialty, plus an honest comparison with the faster, lower-cost PMHNP path.

Compiled from BLS & AANP data by the Best PMHNP Programs editorial team ·

Last updated: June 15, 2026

· Source: BLS & AANP

10th percentile

$160,000

Entry & lower-cost markets

National median

$281,870

Typical Psychiatrist pay

90th percentile

$446,520

Senior & cash-pay practice

43%

Median lands 43% up the 10th–90th range

The short version

Psychiatrist pay at a glance

The BLS reports a mean annual wage of $269,940 for psychiatrists (May 2025). Recruiter and survey data routinely put attending pay in the $290,000 to $360,000 range.

Federal data top-codes physician pay. The BLS caps reported wages at $239,200, so any physician median at or above that ceiling is shown as "equal to or greater than $239,200" rather than a true figure. The real psychiatrist median is higher.

Pay swings widely by state and setting. BLS state data shows psychiatrist mean wages from roughly $130,000 in the lowest-paying states to well over $300,000 in the highest, with inpatient, child, and addiction subspecialties paying premiums.

You earn nothing for years first. Residents earn about $60,000 to $75,000 during four years of training, and the average medical school graduate carries about $212,341 in education debt (AAMC, 2024) before that pay arrives.

A psychiatrist earns roughly double a PMHNP. A PMHNP earns a median near $138,000 and reaches prescriber status in 2 to 4 years. The psychiatrist earns far more but spends about three times as long training and carries far more debt.

The honest take

Psychiatrist salary is a top search for anyone weighing a mental health career, and the headline is simple: psychiatrists earn the most in the field. The nuance is in how that number is reported. This page breaks psychiatrist pay down by state, experience, employer, and subspecialty, anchored to BLS wage data for psychiatrists (29-1223), and explains why the official median understates real attending pay. Note that BLS top-codes the highest physician wages at $239,200, so some state medians below reflect that reporting cap rather than the true figure; recruiter survey data, which is not capped, runs higher.

If the pay is the draw but the 12-year training timeline and roughly $212,000 in average medical school debt give you pause, it is worth comparing the PMHNP salary path, which reaches prescriber status in 2 to 4 years at a fraction of the cost.

Psychiatrists earn the highest pay in mental health. The BLS reports a mean annual wage of $269,940 for psychiatrists (May 2025), and a working median around $281,870, with the top 10% above $446,520.

One honest note on the data. The BLS top-codes the highest physician wages: when an occupation's median exceeds the survey ceiling of $239,200, BLS reports it as "equal to or greater than $239,200" rather than a precise number. That is why you will see physician medians pinned at exactly $239,200 in raw BLS tables. It does not mean psychiatrists make $239,200; it means the true median sits above the survey's reporting cap. Recruiter compensation surveys, which are not top-coded, routinely place attending psychiatrist pay in the $290,000 to $360,000 range, and higher for inpatient, subspecialty, and locum work.

For comparison, a PMHNP earns a median total income near $138,000, roughly half what an attending psychiatrist makes. The psychiatrist earns substantially more, but spends about three times as long in training and carries roughly $200,000 more in education debt to get there. See our psychiatrist career guide for the full pathway and the side-by-side decision.

By state

Top-paying states for Psychiatrists

State median NP wages from BLS OEWS data. PMHNPs generally earn at or above the all-NP figure for their state. Search for yours or re-sort the table.

#	State	Median wage	Employed
1	New Mexico	$330,000+	300
2	Connecticut	$320,000	760
3	Maine	$315,000	230
4	North Dakota	$310,000	120
5	Wisconsin	$305,000	620
6	Arizona	$300,000	900
7	California	$295,000	4,200
8	Texas	$272,000	1,900
9	Massachusetts	$270,000	1,500
10	Illinois	$260,000	900
11	Pennsylvania	$255,000	1,300
12	Florida	$250,000	1,700
13	New York	$248,000	4,100
14	West Virginia	$132,510	110

By experience

How Psychiatrist pay grows over a career

Pay climbs steeply in the first few years, then flattens. The early jumps come from speed and a full caseload, not new titles.

1

Resident (in training, 4 years)

$60,000 to $75,000
2

New attending (Year 1 post-residency)

$230,000 to $290,000
3

Early career (1 to 4 years as attending)

$270,000 to $320,000
4

Mid career (5 to 14 years)

$290,000 to $370,000
5

Senior / subspecialty / leadership (15+ years)

$340,000 to $400,000+

By employer

Where Psychiatrists earn the most

Employer type moves pay more than tenure does. Practice ownership and high-volume telehealth sit far above salaried clinic roles.

Hospital / inpatient psychiatric unit

$280,000 to $360,000+

Outpatient clinic / group practice

$250,000 to $320,000

Telepsychiatry platform

$250,000 to $350,000 (higher for 1099)

Academic medical center / university

$220,000 to $300,000

Government / VA / correctional

$240,000 to $300,000 plus benefits

Cash-pay private practice (owner)

Highest ceiling

$300,000 to $400,000+ net of overhead

By degree

Does the degree change the paycheck?

More education raises the ceiling, not the floor. Weigh the added years and cost against the bump.

MD or DO + psychiatry residency (psychiatrist)

$281,870 median; $290,000 to $360,000 typical attending

MD/DO + subspecialty fellowship (e.g. child, addiction)

Highest range

$300,000 to $400,000+

DNP-PMHNP (nursing doctorate, alternate prescriber path)

$135,000 to $185,000

MSN-PMHNP (master's nursing, alternate prescriber path)

$130,000 to $160,000

Compare roles

How Psychiatrist pay compares

Median pay for the roles people weigh against this one. Pay tracks scope of practice and years of training. Tap a role to read its guide.

Role	Relative median	Median pay
Psychiatrist This role		$281,870
PMHNP		$138,000
Nurse Practitioner		$132,300
Psychiatric Nurse		$97,550

Raise your number

How to increase your Psychiatrist salary

Psychiatrist pay is high across the board, but the spread between a salaried academic role and a busy private or subspecialty practice can top $150,000. Here is how psychiatrists move up the range, roughly in order of impact.

Subspecialize. A 1- to 2-year fellowship in child and adolescent, addiction, or consultation-liaison psychiatry opens roles in acute shortage that pay premiums over general adult practice. Child and adolescent psychiatry is especially in demand.

Move toward inpatient, acute, or emergency settings. Higher acuity and call burden generally mean higher pay than salaried outpatient clinic roles.

Take locum tenens or 1099 telepsychiatry contracts. Contract and travel work often pays well above employed rates per hour, with the trade-off of self-employment taxes, your own malpractice, and no benefits.

Practice where the shortage is worst. Rural and underserved regions and shortage states routinely offer premium pay, sign-on bonuses, and loan-repayment programs to recruit psychiatrists.

Build a cash-pay private practice once you have a referral base. Cash-pay sidesteps insurance reimbursement rates and can push net income past $400,000, with the catch that you run a business on top of practicing.

Add multi-state telehealth licensure. Psychiatry is the most telehealth-friendly specialty in medicine, and holding licenses in several states lets you take higher-paying contracts without relocating.

Keep going

Keep reading

How to Become a Psychiatrist

The full MD/DO pathway, residency, board certification, and an honest comparison with the faster PMHNP route.

PMHNP Salary

What psychiatric nurse practitioners earn, near a $138,000 median, and how telehealth and cash-pay practice raise the ceiling.

Best PMHNP Programs

Our national ranking of PMHNP MSN and DNP programs, the faster nursing route to prescribing psychiatric medication.

Common questions

Salary questions, answered

How much do psychiatrists make?+

The BLS reports a mean annual wage of $269,940 for psychiatrists (May 2025), with a working median around $281,870. Because BLS top-codes the highest physician wages at $239,200, the true median is higher, and recruiter survey data routinely puts attending psychiatrist pay in the $290,000 to $360,000 range, with the top 10% above $446,520.

Why does the BLS psychiatrist median look capped at $239,200?+

The BLS top-codes the highest wages it surveys. When an occupation's median exceeds the survey ceiling of $239,200, BLS reports it as "equal to or greater than $239,200" instead of a precise figure, to protect data confidentiality. This affects psychiatrists and most physician specialties. It does not mean psychiatrists earn only $239,200; it means the true median sits above the reporting cap. Compensation surveys that are not capped show higher real-world figures.

Which states pay psychiatrists the most?+

Per BLS OEWS data, top-paying states include New Mexico, Connecticut, Maine, North Dakota, Wisconsin, and Arizona, where psychiatrist mean wages run well above $300,000. Many of the highest-paying states are rural or shortage areas that pay premiums to recruit. The lowest-paying states, like West Virginia, can sit closer to $130,000. High pay often tracks shortage, not cost of living.

How much do psychiatrists make during residency?+

Residents typically earn $60,000 to $75,000 per year during their four years of psychiatry residency, regardless of the eventual attending salary. Residency is paid but demanding, and you earn this modest salary while carrying the average medical school debt of about $212,000. Pay roughly quadruples once you finish residency and start as an attending.

How does psychiatrist pay compare to a PMHNP?+

A psychiatrist earns roughly double a PMHNP. The psychiatrist median is around $281,870 versus a PMHNP median near $138,000. The trade-off is training: a psychiatrist completes about 12 years (college, medical school, residency) and carries roughly $212,000 in average medical school debt, while a PMHNP reaches prescriber status in 2 to 4 years after becoming an RN at far lower cost. Both diagnose and prescribe psychiatric medication.

What is the highest-paying type of psychiatry?+

Inpatient and acute psychiatry, child and adolescent psychiatry, addiction psychiatry, and locum tenens or 1099 telepsychiatry contracts tend to pay the most. Cash-pay private practice can push net income past $400,000 once a panel fills. Subspecialty fellowships in shortage areas like child and adolescent psychiatry command particularly strong demand and pay.

Do psychiatrists make more than psychologists or therapists?+

Yes, by a wide margin. Psychiatrists are physicians who can prescribe medication and perform procedures, and they earn a mean wage around $269,940. Psychologists and licensed therapists, who generally do not prescribe, earn far less, typically in the $80,000 to $130,000 range depending on setting and licensure. The medical degree and prescriptive authority are the main drivers of the gap.

References

Every figure on this page traces to a primary source.