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Average Psychiatrists Salary in Illinois

Psychiatrists in Illinois earn an impressive average annual salary of $288,690, surpassing the national average of $274,560. This elevated compensation reflects the state's demand for specialized mental health professionals and the critical nature of their services within the healthcare ecosystem.

Executive Summary

  • Average Salary: $288,690 per year.
  • Growth Trend: Salaries have shifted 24.6% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $433,035.
  • Outlook: With a local workforce of 650 Psychiatrists and a Location Quotient of 0.66, Illinois presents a moderately concentrated but stable job market for these professionals. While not exceeding the national concentration, the existing workforce size suggests a consistent need for their expertise, indicating a robust outlook for continued employment opportunities.
2024 Market Data

Salary Overview

$288,690

The average Psychiatrists in Illinois earns+5.1%above the national average.

BreakdownBased on 40h/week
Hourly

$138.8

Weekly

$5,552

Monthly

$24,058

Psychiatrists Salary Distribution in Illinois

The career path for Psychiatrists in Illinois offers significant earning potential that scales with experience. Entry-level positions typically start at the lower end of the salary spectrum, while seasoned professionals with extensive experience and specialized skills can command salaries well above the average. The widening gap between entry-level and senior-level salaries signifies clear opportunities for career progression and increased earning capacity.

Experience LevelMarket PercentileAnnual WageHourly Rate
Resident / New GradClinical rotation complete. Gaining floor experience.10% (Entry)$83,000$39.9
Staff ClinicianFull patient caseload. Proficient in core procedures.25% (Junior)$216,518$104.1
Charge / SeniorShift lead. Precepts new hires. Specialized certification.50% (Median)$288,704$138.8
SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases.75% (Senior)$360,863$173.5
Director / LeadDepartment head or Advanced Practice Provider.90% (Expert)$433,035$208.2

Detailed Psychiatrists Market Analysis

Relocation Context

Nominal Salary

$288,690

Gross Pay

Real Wage (Purchasing Power)

$314,477

Adjusted for COL (91.8)

The average annual salary of $288,690 in Illinois offers substantial purchasing power, especially when considering the state's Cost of Living Index of 91.8, which is below the national average of 100. This means that the nominal salary translates into a higher real income, allowing Psychiatrists to enjoy a better standard of living and greater financial flexibility compared to many other states.

Job Market Context

650

Total Jobs

0.106

Per 1K Jobs

0.66

Location Quotient

Below Average

Illinois has 0.66x the national average concentration of Psychiatrists jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.

A Location Quotient of 0.66 indicates that Psychiatrists are less concentrated in Illinois compared to the national average. This suggests that while there is a solid base of professionals, the market is not oversaturated, potentially leading to competitive hiring environments and favorable conditions for those seeking employment or looking to advance their careers within the state.

Nearby Job Markets

Nearby Cities for Psychiatrists

CitySalaryDist.
Springfield, IL Psychiatrists Salary$339,740↑ 18%53 mi

Comparing salaries near Illinois

Hiring Psychiatristss?

Frequently Asked Questions

How much does a Psychiatrists make in Illinois?

The median annual salary for a Psychiatrists in Illinois is $288,690. This typically ranges from $83,000 for entry-level positions to $433,035 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Illinois is 5.1% higher than the national median of $274,560.

Is Illinois a lucrative place for Psychiatrists?

Yes, Illinois is a lucrative state for Psychiatrists.The average salary of $288,690 significantly exceeds the national average, and the cost of living is below the national average, enhancing real income.

Is Illinois a good place to live for Psychiatrists?

With a Cost of Living Index of 91.8 (lower than the national average of 100), your salary goes further here.

Where are the highest paying cities near Illinois?

Some top paying nearby cities include Springfield, IL ($339,740) and others.

How does the Illinois Psychiatrist salary compare to the national average?

Psychiatrists in Illinois earn an average of $288,690 annually, which is higher than the national average of $274,560.

What is the cost of living in Illinois relative to the national average?

Illinois has a Cost of Living Index of 91.8, meaning it is 8.2% more affordable than the national average (index of 100).

How concentrated is the Psychiatrist job market in Illinois?

The Location Quotient of 0.66 indicates that Psychiatrists are less concentrated in Illinois compared to the national average, suggesting a less saturated market.

What does the number of Psychiatrists per 1,000 workers suggest about the job market?

With 0.106 jobs per 1,000 workers, the data suggests a steady presence of Psychiatrist roles within the broader Illinois workforce.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 650 employees in the Illinois area with a job density of 0.106 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Psychiatrists • Data source: BLS OEWS 2024 •Jobs in Illinois