Psychiatrist salary range

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Poety

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Poety said:
PSYCHIATRY
Compensation ranges from $146,878 to $202,800
Hay $202,800
HHCS $176,120
AMGA $174,382
MGMA $171,998
Merritt $164,000
Sullivan $146,878

reference: http://www.merritthawkins.com/pdf/2004_modern_healthcare_comp_review.pdf

All the psychiatrists I have worked with are making $200-280K in private practice. As long as I can make at least $200K in private practice I will be content, the planets will align, all that good stuff.
 
Solideliquid said:
All the psychiatrists I have worked with are making $200-280K in private practice. As long as I can make at least $200K in private practice I will be content, the planets will align, all that good stuff.


I'm just posting the reports from the survey people!
 
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Poety said:
I'm just posting the reports from the survey people!

I'm guessing that salary will vary a lot depending on where you live too.
 
marie337 said:
I'm guessing that salary will vary a lot depending on where you live too.

And whether or not psychologists get prescriptive authority where you live.
 
OldPsychDoc said:
Just don't be expecting to START in this range. Starting range for salaried positions is in the 130s to 150s.


Thanks OldPsych, I can't even IMAGINE making 130 a year, my goodness :)
 
i know a hospital in rural Louisiana that pays starting 160K...
that's for 8 to 3or4... you can add on with private practice, private inpatient, moonlighting...
and I know more than 2 psychiatrist who make AT LEAST 280K...
best kept secret in the medical field...
 
Dramkinola said:
i know a hospital in rural Louisiana that pays starting 160K...
that's for 8 to 3or4... you can add on with private practice, private inpatient, moonlighting...
and I know more than 2 psychiatrist who make AT LEAST 280K...
best kept secret in the medical field...

To what extent do you think psychiatrist salaries will be influenced now that psychologists in Louisiana are prescribing?
 
Maximizing income means a)charging a lot or b)seeing lots of patients or c) getting a job where someone sees fit to pay you a lot of money.

a) you can conceivably charge a lot if you are either well known or have a specialty niche (e.g., substance abuse). This possibility allows you to be both very good and very well compensated. It does, however, require a certain amount of discipline, confidence, and the ability to turn down most people who ask for your help.

b) you can see a lot of patients if you do psychopharm and either charge a lot (see a) or do a half-a$$ed job at getting to know your patients--and I definitely know some people who are schlocky doctors who fit into this category. The downside is you have to live with yoursefl and with the many patients (and emergency rooms) who will be bugging you at night and on weekends.

c) either become a departmental chairman or go live somewhere that psychiatrists don't generally want to live.

Of course, "a lot" means different things, partly dependent on where you live. Further, many of the most prestigious and most interesting jobs pay below- average salaries (it's one way they pay for the infrastructure, administrators, and researchers).
 
This may be a silly question, but does anyone know if it is benificial to live in a large city ie. Chicago, New York, Detroit, LA, as far as making better money than a smaller but not tiny city? I'm sure theres not a real answer to this, but maybe someone has personal experience or knows someone who has lived both.
 
pschmom1 said:
This may be a silly question, but does anyone know if it is benificial to live in a large city ie. Chicago, New York, Detroit, LA, as far as making better money than a smaller but not tiny city? I'm sure theres not a real answer to this, but maybe someone has personal experience or knows someone who has lived both.


I've always heard that salaries are much greater OUTSIDE of the big cities, because that's where the demand is. Cities like New York, Boston, SF, are oversaturated with shrinks. Not so in Michigan or South Carolina.
 
Thanks for the info nortomaso :) .
 
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