Psychiatrists’ salaries continue to fall to the bottom of the compensation ladder even as mental health need grows. According to the Substance Abuse and Mental Health Service Administration, one in five U.S. adults has a mental health or substance abuse issue. It’s a bigger disease burden than even heart disease or cancer, yet the physicians providing mental health care are paid less than half that of a cardiologist.
The Bureau of Labor Statistics recently released its annual Occupational Employment and Wages study. The map below illustrates the 2022 mean wages of Psychiatrists throughout the United States.
Blank areas indicate data not available
PSYCHIATRIST SALARY IMPLICATIONS TO CONSIDER
There are several factors, aside from location, such as the amount of experience, where the Psychiatrist received their education and the areas where work can impact the average Psychiatrist’s salary
Salaries are also impacted whether you are employed as a W-2 employee or a 1099 independent contractor. 1099 independent contractors or self-employed Psychiatrists—including Psychiatrist contract jobs and locum tenens psychiatry jobs—made slightly more than the average Psychiatrist employed by a medical group. Locum physician rates vary based on most of the same criteria as W-2 employed Psychiatrists.
FUTURE OF PSYCHIATRY SALARIES
The mental health crisis is being exacerbated by the shortage of psychiatry providers and services, particularly in rural areas and small towns—with no signs of improvement.
The number of medical students entering the psychiatry specialty has continued to decline, and research shows that compensation played a large part in that decrease֫, particularly for young doctors. As medical students look to pay off student loan debt, they are opting for higher-paying specialties.
One way to ensure a top salary is to work as a Locum Psychiatrist. Check out our mental health locum jobs throughout the United States to get started.
California remains the largest employer of Psychiatrists with a total of 5,630—the other states rounding out the top five include New York with 4,090, Florida with 2,600, Texas with 1,170, and Massachusetts with 990.
However, the top-paying states for Psychiatrists are not all the typical larger population states—including North Dakota, California, Connecticut, Missouri, and Pennsylvania. Hawaii remains as having the lowest annual mean wage and has decreased by over 13.89% since 2021.
Overall, the average Psychiatrist salary has decreased in 29 states throughout the country since 2021, with some states seeing significant decreases, including West Virginia (-51.16%), Washington (-30.03%), New Hampshire (-26.84%), Nebraska (-19.36%), and Illinois (-19.15%).
Other states did see an increase since the prior year, including Utah (+39.47%), Louisiana (+33.48%), Mississippi (+28.33%), Georgia (+26.61%), and Pennsylvania (+18.2%).
However, on average, Psychiatrists are still among the lowest-paid physician specialty in the United States.
|State||2022 Annual mean wage (2)||2021 Annual Mean Wage|