Average Psychiatrists Salary in New Mexico
The average salary for a Psychiatrists in New Mexico is $283,600. This compensation is in line with national standards, reflecting a balanced and stable local job market.
Executive Summary
- Average Salary: $283,600 per year.
- Growth Trend: Salaries have shifted 5.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $425,400.
- Outlook: The current demand for Psychiatristss is stable, with a local workforce of approximately 130 professionals. This role remains a specialized component of the broader New Mexico economy.
Salary Overview
The average Psychiatrists in New Mexico earns+3.3%above the national average.
$136.4
$5,454
$23,633
Psychiatrists Salary Trends (2020-2024)
Over the past 4 years, Psychiatrists salaries in New Mexico have remained stable with a modest increase of 5.7%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Psychiatrists Salary Distribution in New Mexico
The earning potential for Psychiatristss in New Mexico varies significantly by experience level. The salary gap is relatively narrow, suggesting consistent and predictable earnings from entry-level to senior positions. Entry-level roles (10th percentile) typically start around $213,150, while highly experienced professionals can command wages upwards of $425,400.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Resident / New GradClinical rotation complete. Gaining floor experience. | 10% (Entry) | $213,150 | $102.5 |
| Staff ClinicianFull patient caseload. Proficient in core procedures. | 25% (Junior) | $212,700 | $102.3 |
| Charge / SeniorShift lead. Precepts new hires. Specialized certification. | 50% (Median) | $283,608 | $136.4 |
| SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases. | 75% (Senior) | $354,500 | $170.4 |
| Director / LeadDepartment head or Advanced Practice Provider. | 90% (Expert) | $425,400 | $204.5 |
Detailed Psychiatrists Market Analysis
Relocation Context
Nominal Salary
$283,600
Gross Pay
Real Wage (Purchasing Power)
$316,518
Adjusted for COL (89.6)
This is a financial "Hidden Gem". Although the nominal salary is $283,600, the lower cost of living in New Mexico (10.4% below national average) boosts your purchasing power to an equivalent of $316,518. This allows for significant savings.
Job Market Context
130
Total Jobs
0.149
Per 1K Jobs
0.93
Location Quotient
New Mexico has 0.93x 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.
130 people work as Psychiatrists in New Mexico.
Only 0.149 out of every 1,000 local jobs are Psychiatrists roles — this is a niche profession in the area.
Nearby Job Markets
Nearby Cities for Psychiatrists
| City | Salary | Dist. |
|---|---|---|
| Albuquerque, NM Psychiatrists Salary | $312,630↑ 10% | 29 mi |
Comparing salaries near New Mexico
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Frequently Asked Questions
How much does a Psychiatrists make in New Mexico?
The median annual salary for a Psychiatrists in New Mexico is $283,600. This typically ranges from $213,150 for entry-level positions to $425,400 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New Mexico is 3.3% higher than the national median of $274,560.
Is New Mexico a good place for Psychiatristss?
Yes, New Mexico is financially attractive for Psychiatristss. The average salary of $283,600 exceeds the national average. See distinct detailed breakdown below.
Is New Mexico a good place to live for Psychiatrists?
With a Cost of Living Index of 89.6 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near New Mexico?
Some top paying nearby cities include Albuquerque, NM ($312,630) and others.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 130 employees in the New Mexico area with a job density of 0.149 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 New Mexico