Psychiatrist Salary

Psychiatrists are medical doctors who treat people suffering from several mental illnesses. Due to our fast paced life and high stress levels, demand for psychiatrists has seen a growing trend all over the world over the last few years. Because of this, salary of a psychiatrist has also become more attractive than several other professions. However, becoming a psychiatrist is no child's play. You need to be a brilliant student right from your school days and then perform exceptionally well in your college years to become a psychiatrist.

Psychiatrist Salary Details

Psychiatrists salary largely depends on their educational qualifications, years of practical experience and location of their work. A psychiatrist who works at a large hospital at a top position receives a very attractive salary. Psychiatrists are believed to earn much more than people working in different sectors. The median psychiatric salary is around USD 175,000 per year according to experts in the job market. Psychiatrist salary for those who have just entered this profession too, is quite impressive. A psychiatrist having an experience of up to two years can earn around USD 50,000 to USD 100,000 per year. In some cases, this figure can be well above USD 100,000. A psychiatrist's salary has the potential to grow at a fast speed with skills acquired and experience gained by those working in this fields. Salary for those with four to five years of experience can be in the range of USD 90,000 to USD 150,000 per year. Salaries for psychiatrist's having an experience of more than ten years can easily be in excess of USD 130,000 per year. Salaries of highly experienced psychiatrists working in private hospitals and having an experience of around twenty years can be around USD 200,000 per year. Psychiatrists working for top hospitals in major cities like New York, Los Angels and Washington earn around 40-75% more than those employed in other parts of the country.

The earnings of self-employed psychiatrists can exceed the salary of employed psychiatrists, once they gain a reputation for themselves. However, many experts would advise rather to gain experience in hospitals first, than start off independent practice to become successful.

Becoming a Psychiatrist

For those who are good in subjects like Physics, Chemistry and Biology, becoming a psychiatrist is a good career option. In order to complete your graduation in psychiatry, you need to score well in your high school. Most reputed medical schools would require you to clear an entrance test and admissions will be given on the basis of scores in this test. You will have to get an impressive score in the Medical College Admission Test (MCAT). Once you are done with your graduation with a good score, you can apply for a specialization degree in criminal psychiatry, forensic psychiatry or child psychiatry. You should understand that completing this residency program which consists of four years of rigorous and practical study along with licensing exams is essential, in order to work professionally as a psychiatrist. Getting relevant experience under the guidance of an experienced psychiatrist can surely help new entrants in this field. Psychiatrists can get opportunities to work in government as well as private hospitals.

Hopefully, this article on psychiatrist salary will prove to be useful for you. All the best for your career.