The highest-paid psychiatry fields often involve niche specializations like Forensic Psychiatry, Child & Adolescent Psychiatry, and Addiction Psychiatry, particularly in private practice or high-demand areas, with Interventional Psychiatry (like TMS/DBS) also lucrative, though overall income heavily depends on location, practice setting (private vs. hospital), and experience, with locum tenens and private practice generally offering the most flexibility and highest earning potential.
Many psychiatrists advance in their field by focusing on a sub-category, such as addiction, emergency, geriatric, pediatric, forensic, pain, rehabilitation, perinatal, or learning disability psychiatry. Typically, child, geriatric, and pediatric psychiatrists make the most money.
While ZipRecruiter is seeing salaries as high as $399,000 and as low as $52,500, the majority of Psychiatrist salaries currently range between $212,500 (25th percentile) to $345,500 (75th percentile) with top earners (90th percentile) making $400,000 annually in Calgary.
On average, psychiatrists make a higher average salary than clinical psychologists; a clinical psychologist will typically earn more money in a private practice setting than in a social service or school setting.
A career in psychology would best suit someone interested in talking through a patient's personal issues. A career in psychiatry would suit someone with an interest in the medical side of treating mental issues.
In addition to being in demand, psychiatrist positions are by far the highest-paying jobs for psychology majors. When you work where a majority of psychiatrists are employed — within an outpatient care center or within a physician's office — the BLS reports 2022 mean salaries of $299,470 or $280,600, respectively.
€6,843 (EUR)/yr
The average psychiatrist gross salary in Ireland is €164,894 or an equivalent hourly rate of €79. In addition, they earn an average bonus of €6,843. Salary estimates based on salary survey data collected directly from employers and anonymous employees in Ireland.
According to Indeed, the average annual income for a psychiatrist is $268,959, which can vary based on factors such as location, years of experience, work environment, level of education, and psychiatric specialty.
Where Are The Best Mental Mental Health Centres?
And then there's a retirement drain: More than 60% of practicing psychiatrists are over the age of 55—one of the highest proportions among all specialties, AAMC 2015 data indicate.
10 highest paying countries for psychiatrists
We must preserve our skill, unique among physicians, in psychotherapeutic approaches, even as we manage psychiatric illness. We must also adapt and become more tech-savvy, as digital data, mobile and computer-based treatments, electronic medical records, and AI algorithms take on increasing prominence in our field.
Psychiatrists in the lowest 10 percent of earners at the lowest-paying practice setting make a minimum of $47,610 annually, while those at higher-paying settings make a minimum of $138,160.
What jobs make $300,000 per year?
The highest-paid doctors in the U.S. are neurosurgeons, thoracic surgeons, and orthopedic surgeons. These surgical specialists earn average annual salaries between $650,000 and $760,000, making them the top earners among physicians.
Consultant Psychiatrist Salary
Their extensive post-fellowship experience usually means they have developed high-level leadership and teaching skills which allow them to take on bigger roles and responsibilities. * These salaries are based on public sector roles. Private sector salaries may be significantly higher.
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The Extent of the Psychiatrist Shortage in Ireland
As of 2023, approximately 30% of permanent consultant psychiatrist positions remain unfilled—one of the highest vacancy rates for any medical specialty.
What's a good salary in Ireland? A 'good' salary in Ireland generally ranges from €50,000 to €70,000 per year.
There's no single #1 happiest job universally, but Firefighters consistently rank high for job satisfaction due to their sense of purpose, while Care Workers, Counsellors, Content Creators, and IT roles (Java Devs, Systems Analysts) also appear frequently on "happiest" lists for fulfillment, autonomy, or good pay/balance. Overall, jobs with meaning, helping others, nature connection, strong coworker bonds, or good work-life balance tend to be cited as happiest.
The 5 C's of Mental Health provide a framework for well-being, often cited as Competence, Confidence, Connection, Character, and Caring, focusing on feeling capable, believing in oneself, nurturing relationships, living by values, and showing empathy. While some variations exist, like adding Compassion, Coping, or Community, the core idea is building resilience through personal growth and strong relationships, helping individuals manage challenges and thrive.
High Paying Psychiatrist Jobs