I'm working in a state forensic unit in Ohio. Pay is about $135-160/year. The pay varies depending on a few factors such as the quality of the work you give--(they rate you--higher rating=higher pay), more qualifications such as fellowship also adds points to your pay. Years of work there adds more points. This is for a base 40 hr work week. No calls. There are very good state benefits such as an equivalent of a 401K plan, and if you work for x amount of years (forgot how many, think its about 25), they'll give you half your salary as your pension for the rest of your life.
There's an IM doc in the same place with a neprhology fellowship on her CV and she's making $100,000, and she's worked there for years. Doesn't make sense to me, but hey, it is what it is.
In NJ, the state psychiatrists earn a base salary of about $200,000/year-for a 40 hr work week-no calls. Similar benefits to above. I hear though that they specifically want 2 years of post residency experience before hiring.
In California, I hear is about $200,000-$250,000. That's what I hear--so someone correct me if I'm wrong.
Its going to vary highly per area. Cost of living must also be factored in as well. Some places will pay higher and lower, and their costs of living will be higher & lower. E.g. in NJ, property taxes are through the roof, and real estate prices are more than 2x as much where I'm at now which is the Cincinnati-Ohio/Northern Kentucky area. I'd say if I worked in a state facility in NJ I'd be ahead all things considered, but not by much when you factor in the cost of living, and that the facility I'm at is pretty much heaven compared to most of the state psyche buildings I've seen in NJ. (we're talking a place a beautiful as a shopping mall vs a run down, paint chipping off the wall type facility).
If you want real money-it seems the magic mix is the midwest. High pay because of a severe shortage of psychiatrists such as in Iowa, but the cost of living is extremely low. That being said, Iowa is cold in winter and you'll be away from big city culture. (No offense to Iowans. My in-laws are from there, I suggested to the wife to move there for the money bonus and she was adamant in not going back!)
then why does everyone say that psychiatry is the lowest paying speciality.
Don't know. Probably based on old data, or the sometimes existing snobbery against psychiatrists from certain other fields (though I see it against every field--depending on the person-the IM docs called the surgeons the "plumbers", and the PCPs "wimps". The psychiatrists were bugged with the bogus consults from the IM docs...) . I remember in medschool, an IM doc kept mentioning to me that there was some cure to mental illness that was discovered so psychiatrists would be obsolete in less than 5 years. I don't know where he was getting that. Maybe he would've benefitted from an antipsychotic.
possibly those in more "prestigious" residencies end up being paid LESS initially--simply because they are a) more likely to stay in academia, b) more likely to stay in areas which are relatively over-supplied with psychiatrists, and c) less likely to take jobs in the hinterlands at poorly served state hospitals where compensation may be more generous.
I've noticed some truth to this, though I'm also certain there are exceptions. Those in academia are going to be in places that produce psychiatrists that will likely want to stay in the area--decreasing the odds there'll be a shortage in that area. Academia in general tends to pay less than a big business clinical operation. I'm sure though there are exceptions. E.g. what if someone in a very prestigious institution with a lot of respect left & did some private work? That person if he/she marketed him/herself correctly could make a lot more money than a typical private clinician.
Yet I'm hearing stories from recent grads of salaries more like 130K.
Well hey, chalk me up in the lower category, though if I really wanted to, I could work more & make more. I could've stayed in NJ & been making much more. I chose to be in the situation I'm in because I'm working in a forensic facility & I want to learn forensics. There's forensic specific grand rounds here, have some notable & very good supportive forensic attendings offer guidance I couldn't find at most places, and they're doing research on some cutting edge forensic stuff like the HCR-20.
haha, yeah ill do my best (what else can i do?)
