#7Highest Paying

Psychiatrist

Psychiatrists are medical doctors who specialize in mental health, including substance use disorders.

Getting Started

How to Become a Psychiatrist

At 12 years to get started, this takes longer than the 10.7 years average for Doctoral Degree-level careers.

1

Complete Education

Earn your Doctoral Degree (typically 12 years) at an estimated cost of $250k–$375k.

2

Get Licensed or Certified

Complete any state-required licensing or certification exams for psychiatrist practice.

3

Begin Working

Psychiatrist earn a median salary of $269k/yr, with entry-level positions starting somewhat lower.

Education costs from College Scorecard. Training timelines from BLS Occupational Outlook Handbook.

Overview

What Does a Psychiatrist Do?

Psychiatrists are medical doctors who specialize in mental health, including substance use disorders. They are uniquely qualified among mental health professionals to prescribe medications, perform physical examinations, order diagnostic tests, and integrate medical and psychological approaches to treatment. Demand for psychiatrists is exceptionally high due to a nationwide shortage.

On the Job

Conduct comprehensive psychiatric evaluations and assessments
Diagnose mental health disorders using DSM-5 criteria
Prescribe and manage psychotropic medications
Provide psychotherapy when part of practice model
Manage psychiatric emergencies and crisis interventions
Coordinate care with therapists, social workers, and medical providers
Evaluate patients for involuntary commitment when necessary
Testify as expert witnesses in forensic psychiatry cases

Compensation

How Much Does a Psychiatrist Make?

At $269k/yr, psychiatrist earn about the same as the average for Doctoral Degree-level careers ($267k/yr).

$269k/yr

median annual salary

10th percentile90th percentile
$161k/yr$269k/yr median$404k/yr

How It Compares

CareerMedian Salary
Psychiatrist$269k/yr
Home Health Aide$34k/yr
Emergency Medical Technician (EMT)$39k/yr
Physician Assistant$130k/yr
General Surgeon$355k/yr

Source: Bureau of Labor Statistics, May 2024

Future-Proofing

Psychiatrist Job Outlook (2024–2034)

Employment Growth

The BLS projects 3% growth over the next decade, roughly in line with the 4.8% average for Doctoral Degree-level careers.

10-Year Growth

3%

About as fast as average

Current Employment

28k

jobs nationwide

AI & Automation Risk

Moderate Exposure

Psychiatrist roles have moderate exposure to AI automation — roughly average among Doctoral Degree-level careers. While some administrative tasks may be augmented by AI, core duties still require human expertise. Core responsibilities like state licensing requirements require human presence and judgment that AI cannot replicate.

Why It's Safe

  • +Assisting and caring for others
  • +Establishing and maintaining interpersonal relationships
  • +Resolving conflicts and negotiating with others
  • +Developing and building teams
  • +Coaching and developing others
State Licensed

What Could Be Automated

  • Getting information
  • Making decisions and solving problems
  • Documenting/recording information
  • Analyzing data or information
  • Processing information

Based on Pew Research + O*NET methodology and Bureau of Labor Statistics projections

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Sources

Data Freshness

BLS OEWS: 2024-05 · BLS Projections: 2024-09 · O*NET: 2024-12