Average Psychiatrists Salary in Baltimore-Columbia-Towson, MD
Psychiatrists in the Baltimore-Columbia-Towson, MD metropolitan area earn an average annual salary of $255,940. This figure is slightly below the national average of $274,560, suggesting that while demand is present, other factors may be influencing compensation within this specific region. The local economic landscape and healthcare infrastructure play a crucial role in shaping these salary benchmarks.
Executive Summary
- Average Salary: $255,940 per year.
- Growth Trend: Salaries have shifted 15.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $383,910.
- Outlook: The Baltimore-Columbia-Towson, MD area supports a dedicated workforce of 340 Psychiatrists. With a Location Quotient of 1.57, this indicates a concentration of these professionals that is 57% higher than the national average. This elevated quotient suggests a robust demand and a significant presence of psychiatric services within the region, pointing towards a stable job market for qualified individuals.
Salary Overview
The average Psychiatrists in Baltimore-Columbia-Towson, MD earns-6.8%below the national average.
$123.1
$4,922
$21,328
Psychiatrists Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Psychiatrists in the Baltimore-Columbia-Towson, MD area have experienced steady growth over the past four years, mirroring national trends. Factors such as increasing demand for mental health services, inflation, and advancements in psychiatric care likely contribute to a positive salary trajectory for professionals in this field.
Psychiatrists Salary Distribution in Baltimore-Columbia-Towson, MD
Salary progression for Psychiatrists in Baltimore-Columbia-Towson, MD, is strongly tied to experience. Entry-level positions typically fall within the lower percentiles of the salary range, while seasoned professionals with extensive experience and specialized skills command salaries in the upper percentiles. The significant gap between entry-level and senior-level compensation underscores the value placed on expertise and a proven track record in the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Resident / New GradClinical rotation complete. Gaining floor experience. | 10% (Entry) | $124,510 | $59.9 |
| Staff ClinicianFull patient caseload. Proficient in core procedures. | 25% (Junior) | $191,955 | $92.3 |
| Charge / SeniorShift lead. Precepts new hires. Specialized certification. | 50% (Median) | $255,944 | $123.1 |
| SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases. | 75% (Senior) | $319,925 | $153.8 |
| Director / LeadDepartment head or Advanced Practice Provider. | 90% (Expert) | $383,910 | $184.6 |
Detailed Psychiatrists Market Analysis
Relocation Context
Nominal Salary
$255,940
Gross Pay
Real Wage (Purchasing Power)
$255,940
Adjusted for COL (100)
The average annual salary of $255,940 for Psychiatrists in Baltimore-Columbia-Towson, MD, aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of a Psychiatrist's salary in this region is comparable to the national average, indicating a balanced economic environment where earnings effectively meet local expenses.
Job Market Context
340
Total Jobs
0.252
Per 1K Jobs
1.57
Location Quotient
Baltimore-Columbia-Towson, MD has 1.6x the national concentration of Psychiatrists jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
The Location Quotient of 1.57 for Psychiatrists in Baltimore-Columbia-Towson, MD, signifies a notably higher concentration of these professionals compared to the national average. This suggests a competitive market where demand is strong enough to support a larger-than-average pool of practitioners, potentially leading to more opportunities but also requiring professionals to differentiate themselves.
Nearby Job Markets
Nearby Cities for Psychiatrists
| City | Salary | Dist. |
|---|---|---|
| Maryland nonmetropolitan area Psychiatrists Salary | $341,780↑ 34% | 19 mi |
| Washington-Arlington-Alexandria, DC-VA-MD-WV Psychiatrists Salary | $213,470↓ 17% | 35 mi |
Comparing salaries near Baltimore-Columbia-Towson, MD
Hiring Psychiatristss?
Frequently Asked Questions
How much does a Psychiatrists make in Baltimore-Columbia-Towson, MD?
The median annual salary for a Psychiatrists in Baltimore-Columbia-Towson, MD is $255,940. This typically ranges from $124,510 for entry-level positions to $383,910 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Baltimore-Columbia-Towson, MD is 6.8% lower than the national median of $274,560.
Is Baltimore-Columbia-Towson, MD a lucrative place for Psychiatrists?
Yes, with caveats.While the average salary of $255,940 is slightly below the national average, the high concentration of Psychiatrists (LQ 1.57) indicates strong regional demand. The cost of living being at the national average further supports its lucrativeness relative to expenses.
Is Baltimore-Columbia-Towson, MD a good place to live for Psychiatrists?
The Cost of Living Index in Baltimore-Columbia-Towson, MD is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Baltimore-Columbia-Towson, MD?
Some top paying nearby cities include Maryland nonmetropolitan area ($341,780) and Washington-Arlington-Alexandria, DC-VA-MD-WV.
How does the Baltimore-Columbia-Towson, MD Psychiatrist salary compare to the national average?
The average annual salary for Psychiatrists in Baltimore-Columbia-Towson, MD is $255,940, which is approximately $18,620 less than the national average of $274,560.
What is the concentration of Psychiatrists in Baltimore-Columbia-Towson, MD?
The concentration, measured by the Location Quotient, is 1.57, meaning there are 57% more Psychiatrists employed in this area relative to the national average.
How does the cost of living in Baltimore-Columbia-Towson, MD affect Psychiatrist salaries?
The cost of living index is 100, which is the national average. This suggests that the $255,940 salary offers purchasing power equivalent to the national average, making it a fair compensation in relation to local expenses.
What does the total local workforce number indicate for Psychiatrists?
With 340 Psychiatrists in the local workforce, it indicates a substantial, established presence of these professionals, supporting the high Location Quotient and suggesting ongoing demand for their services.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 340 employees in the Baltimore-Columbia-Towson, MD area with a job density of 0.252 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Psychiatrists • Data source: BLS OEWS 2024 •Jobs in Baltimore-Columbia-Towson, MD