What are the benefits of being an academic psychiatrist?
I'm not, which is one of the reasons why I decided to leave academics and go into private practice.
The standard for giving a drug talk at a local dinner is $500-1000. For giving a talk at an annual meeting it's $2000-$5000.
1) You get to teach a lot (this is really probably reasons 1-5)
2) You're salaried, so you get paid no matter how few patients you see (important for services that run hot and cold like CL)
3) Research structure
4) The ever debatable "prestige"
5) You have the chance to advance to administrative positions, not just within the medical school, but in a university as a whole. For example, the provost of Harvard University is a psychiatrist - this is at least as big a job as being COO of a major corporation.
It absolutely DOES NOT matter where you go to medical school.
It absolutely DOES NOT matter where you go to medical school. What matters most are your grades, step1 scores, LORs, research, etc. Also, if anything about "where" you trained matters, it would be where you did your residency, not med school.
Also, you can go to any med school and train at any residency you want (to a certain extent), and still become a professor of psychiatry. It just does not matter.
It matters some. It probably doesn't matter enough for you to not throw your hat in the ring this year. But don't expect to get an interview from MGH no matter how perfect you are if you go to Podunk U school of monkey medicine. Going to a lower-tiered school probably disqualifies you from about 5-10 programs, and might make matches at a few others tough.
But honestly, there are enough really good psychiatry residencies that you probably shouldn't worry if a handful at the very top will snub you. If your goal is to be a solid academic psychiatrist, you can certainly make that goal happen if you apply this cycle and see what happens.
You can always apply this year and then consider your options once you have your offers. Those are reasonable stats, and may not be as uncompetitive as you think, depending where in the country you are wanting to go to school.