Offer trail was as follows, all inpt, major cities
FL- 7 on 7 off 230k, 20k sign on, 20pts
MI- 5 day 210k, 15k sign on, 16 pts
MN- 7 on 7 off 290 plus rvu, 40k sign on, 20pts
4 day 270k, 40k sign on, 12pts
RI- 5 day 190k, 20k sign on, 15pts
WI- 5 day 280k, 20k sign on, 180k loans 5 years, 14pts
This is my take, and it's from the perspective of these jobs not being in large metro areas (In bigger cities, especially with a large residency program producing new psychiatrists each year, the employer can really low ball you because of the supply of psychiatrists in those areas). In general, in a medium sized city or smaller, 350,000 or less, I think you are worth $350K/year as an inpatient doctor seeing 14+ patients every day. In part this is because most psychiatrists do not want to work in the hospital for some reason, so you are in demand, and hospitals need a psych service to function (they may not want a psych service from a financial standpoint, but it's a necessity to function). Plus, the supply of psychiatrists in these cities is generally far below the need.
Additionally, just based on some rough RVU calculations for 14 patients a day, assuming 1 admit and 1 discharge, and 12 followups at 99232 at $65/RVU:
Admit 2.61 RVU =$169.65
Discharge 1.9 RVU = $123.50
Followup 1.39 RVU each x 12 patients = $1084.2
Day total = $1377.35 x 240 days a year = $330,564, plus occasional add on therapy codes, and medical floor or ED consults that will likely get pushed onto your plate and you're easily at $350K/ year.
So the MN and WI jobs are close, especially if there was more info about the RVU part of the salary for MN. And if it's typical you carry less than the maximum patient cap, your salary would justifiably be less. This is why I think RVU is the fairest way to address it; if you work more you get paid more, if it's a slow day and you leave at 2:00, you get paid less.
The offers in FL, RI, and MI are crap unless you're in a highly desirable area with lots of psychiatrists.