Salary surveys

[nexus73]

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Recent saw a few salary survey companies for 2022 data, with two surveys around 315K and one at 295--with weighted average around 310 median salary.

And recently heard one of the main survey companies I see discussed published 2023 data and full time general psych was median around 360! Has anyone else been seeing salary survey data for 2023? Are salaries trending up this much?

 

[brosa]

Around my program it's mostly 250k and it did not seem to have much increase in the past few years, from what I ask around. Most of my colleagues are very shy regarding salary discussions tho. I always find that curious, as in my home country, it will take like 30s for two doctors to talk about their salaries, including all possible details lol

 

[annoyedpsychiatrist]

the medscape salary data has been roughly accurate for me at least and represenative of what ive been seeing for the most part..There are some jobs that lowball for sure though.

250k seems very low as a psychiatrist. My two close friends who are pediatricians make around that.

 

[TexasPhysician]

Recent saw a few salary survey companies for 2022 data, with two surveys around 315K and one at 295--with weighted average around 310 median salary.

And recently heard one of the main survey companies I see discussed published 2023 data and full time general psych was median around 360! Has anyone else been seeing salary survey data for 2023? Are salaries trending up this much?

I hate averages because there is no average job in psychiatry. The typical “averages” they use are from relatively busy jobs that are advertised heavily to fill. The “average” job they typically describe is 40 busy clinical hours that most of us don’t want for $310K but based on how crazy it is should actually pay $500K+. Comparing academia with high end concierge private practice makes no sense. Psychiatrists that work easier jobs and get paid less don’t care about surveys because they are enjoying life. The job likely wasn’t advertised at all. Higher paying jobs don’t typically advertise, and those psychiatrists are maximizing revenue, not filling out surveys. This lends the surveys toward advertised positions, locum promoted, and/or disgruntled psychiatrists that are overworked.

The lowest paying gig I currently have pays me $150/hour. It isn’t hard. It is very flexible. I enjoy it. $150/hour x 2000 hours (avg a busy FT employee works in the US) = $300K. That doesn’t include benefits. So ignoring all benefits and vacation, my lowest paying gig gets me below the average if FT. I can fit it into other jobs so it increases my earnings.

Most psychiatrists want more vacation, good support staff, no more than 2 patients/hour, etc etc. This all affects your pay down. See more patients or work more hours and your pay goes up.