Psychiatry Salary Guide 2026
Complete compensation data for healthcare recruiters. Based on the 2025 Medscape Physician Compensation Report, MGMA DataDive Provider Compensation, and Doximity Physician Compensation Report.
Average Salary$287,000+5.8% vs 2025
Key Compensation Metrics
Median Salary
$275,00090th Percentile
$365,000Sign-On Bonus
$20,000-$50,000Demand Level
Very HighSalary Distribution
25th PercentileMedian75th Percentile90th Percentile
$245,000$275,000$320,000$365,000
Total Compensation Range: $220,000 to $380,000, including base salary, production bonuses (avg. $35,000/year), and benefits.
Top-Paying States
1California
$330,0002New York
$315,0003Massachusetts
$305,0004New Jersey
$300,0005Washington
$295,000Top-Paying Cities
1San Francisco, CA
$365,0002New York, NY
$350,0003Los Angeles, CA
$340,0004Boston, MA
$330,0005Seattle, WA
$320,000Factors Affecting Compensation
- Subspecialty (child, addiction, forensic)
- Inpatient vs outpatient focus
- Telehealth capabilities
- Private pay vs insurance mix
- Call requirements
About Psychiatry
Psychiatrists diagnose and treat mental health disorders. The severe national shortage has driven up salaries significantly, with telehealth expanding opportunities.
Required Certifications
- ABPN Board Certification
- State Medical License
- DEA Registration
Typical Employers
- Hospital Systems
- Community Mental Health
- Private Practice
- Telepsychiatry Companies
Work Settings
- Inpatient Units
- Outpatient Clinic
- Telehealth
- Correctional Facilities
Market Outlook & Demand
Very High Demand
Critical shortage - 60% of US counties have no psychiatrist
Year-over-Year Change
+5.8%
Avg. Production Bonus
$35,000