Big broad question here but ultimately, psychiatry offers a wide variety of scheduling and pay, super flexible specialty in this regard which is definitely a benefit of working in psychiatry. Typically psychiatrist tend to work a little less than other specialties which does put psychiatry on the lower end of average pay. Average pay is around 275-300K with hours in the 35-40ish range, but again these number can vary quite a bit. You can take call if you work inpatient, c/l, or are covering ER. I work straight outpatient 40 hours per week, 4 days per week with every Friday off (absolutely love my 3 day weekends), no nights, no call. I make above average pay as well with solid benefits. Also regionally these numbers are going to fluctuate as coastal and big city areas tend to be more saturated. Some psychs do a mix of inpatient/outpatient and can make quite a bit more this way.