salaries increasing

Check this out. You guys think this trend is going to continue...Thoughts? Also, most of these salaried positions are based on a 40 hour work week..right?

News

Psychiatrists Make Salary Gains



LocumTenens.com survey data indicate that the average psychiatrist salary increased between 2006 and 2007. In fact, 60 percent of psychiatrists responding to the physician recruitment firm's 2008 salary survey reported income gains between the preceding two years. Among those respondents, 26 percent reported increases of 10 percent or more.

A quarter of responding psychiatrists said their gross personal incomes remained about the same between 2006 and 2007, while only 15 percent reported income decreases between the two years.

LocumTenens.com Executive Vice President Michael Davis suggests that recent psychiatrist salary gains reflect a growing shortage of psychiatrists, since almost half (45 percent) of U.S. psychiatrists currently are age 55 or older and only 28 percent are age 44 or younger. (Twenty-seven percent are between the ages of 45 and 54, according to the 2008 edition of the American Medical Association's Physician Characteristics and Distribution in the US.)

LocumTenens.com pegs the average psychiatrist salary at $183,232, roughly an eight-percent increase over the average $169,833 for 2007 respondents. You can find the complete 2008 psychiatrist salary survey results posted in this Psychiatrist Career and Resource Center, as well.

Regardless of compensation concerns, most 2008 psychiatrist respondents (83%) said they would choose medicine as a career again if given the choice.

Sixty-four percent (64%) of responding psychiatrists had been practicing for 10 years or more, 61 percent were male and 97 percent were board certified (67%) or board eligible (39%). While almost half (47 percent) of respondents were employer-based, 20 percent were in private practice and only 16 percent reported working on a locum tenens, or contract, basis exclusively.