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: the BLS median is $281,870 a year and the top 10 percent clear $446,520. Here is what psychiatry pays 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

$84,060

Entry & lower-cost markets

National median

$281,870

Typical Psychiatrist pay

90th percentile

$446,520

Senior & cash-pay practice

55%

Median lands 55% up the 10th–90th range

Annual wages for psychiatrists (SOC 29-1223), from the BLS Occupational Employment and Wage Statistics survey, May 2025, covering 27,980 psychiatrists. The 10th percentile sits well below attending pay, so the median is the figure to plan around.

The short version

Psychiatrist pay at a glance

BLS reports a median annual wage of $281,870 for psychiatrists (May 2025), with a mean of $269,940 and the top 10 percent above $446,520.

The $239,200 physician wage cap you may have read about does not apply here. The May 2025 release publishes a psychiatrist median of $281,870 and a 90th percentile of $446,520, both above that older ceiling.

Pay swings widely by state. BLS state medians run from $63,320 in West Virginia to $353,500 in California, though the lowest and highest both rest on small samples. Inpatient, child, and addiction subspecialties pay 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. AANP puts full-time PMHNP median total income near $137,000, and a PMHNP 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 national picture

How much do Psychiatrists make?

The honest take

A psychiatrist earns a median of $281,870 a year, or $135.51 an hour, according to the U.S. Bureau of Labor Statistics wage survey for May 2025. That makes psychiatry the best-paid work in mental health by a wide margin. The middle half of psychiatrists earn between $154,150 and $362,740, and the top 10 percent clear $446,520.

Anchor on the median rather than the bottom of the range. BLS puts the 10th percentile at $84,060, far below what a practicing attending earns, so the low end of this occupation is not a useful guide to what a psychiatry job pays. The $281,870 median and the $154,150 to $362,740 middle band are the figures to negotiate against.

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.

Psychiatry pays more than any other clinical role in mental health. Alongside the $281,870 median, BLS reports a mean annual wage of $269,940 for May 2025. The mean sitting below the median is unusual and tells you the bottom of this distribution stretches further than the top.

One note on how physician wages are reported. Older BLS wage tables top-coded the highest physician earnings at $239,200, publishing "equal to or greater than $239,200" in place of a real number, and that cap still circulates in secondary sources. It does not constrain the current release: the May 2025 survey publishes a psychiatrist median of $281,870 and a 90th percentile of $446,520, both well above that old ceiling, so these are measured figures rather than a reporting floor. Recruiter compensation surveys place attending psychiatrist pay in a similar band, and higher for inpatient, subspecialty, and locum work.

For comparison, AANP puts full-time PMHNP median total income near $137,000, roughly half what a psychiatrist earns. 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	California	$353,500	5,420
2	Louisiana	$345,040	90
3	Alaska	$342,170	50
4	Minnesota	$336,410	580
5	Wisconsin	$331,070	550
6	Connecticut	$326,670	560
7	Florida	$316,200	1,930
8	Oregon	$314,880	430
9	Missouri	$312,680	240
10	Maryland	$305,320	460
11	Washington	$304,920	360
12	Pennsylvania	$278,970	830
13	New York	$265,890	4,130
14	Illinois	$258,740	870
15	Texas	$228,460	1,690

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		$137,000
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 $137,000 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?+

Psychiatrists earn a median of $281,870 a year, or $135.51 an hour, per the BLS wage survey for May 2025. The middle half earn between $154,150 and $362,740, and the top 10 percent clear $446,520. Recruiter survey data puts typical attending pay in the $290,000 to $360,000 range.

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 $137,000. 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 median wage around $281,870. 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.