Average Psychiatrists Salary in New York
Psychiatrists in New York earn an average annual salary of $233,300, which is below the national average of $274,560. This disparity is often influenced by the state's unique economic landscape, including specialized healthcare demands and the concentration of advanced medical facilities that can command different compensation structures.
Executive Summary
- Average Salary: $233,300 per year.
- Growth Trend: Salaries have shifted 18.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $349,950.
- Outlook: With a local workforce of 3,850 Psychiatrists, New York demonstrates a significant presence in this specialized medical field. The Location Quotient of 2.51 indicates that Psychiatrists are more than twice as concentrated in New York compared to the national average, suggesting a robust demand and a well-established professional community within the state.
Salary Overview
The average Psychiatrists in New York earns-15.0%below the national average.
$112.2
$4,487
$19,442
Psychiatrists Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Psychiatrists in New York have experienced steady growth over the past four years, mirroring national trends. Factors such as increasing demand for mental health services, evolving treatment methodologies, and inflation likely contribute to a positive salary trajectory for professionals in this field.
Psychiatrists Salary Distribution in New York
The career progression for Psychiatrists in New York typically involves a significant salary increase from entry-level to senior positions. While specific percentile data isn't available, the substantial gap between starting salaries and those earned by highly experienced professionals signifies ample opportunity for career advancement and increased earning potential, rewarding years of specialized practice and expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Resident / New GradClinical rotation complete. Gaining floor experience. | 10% (Entry) | $83,200 | $40 |
| Staff ClinicianFull patient caseload. Proficient in core procedures. | 25% (Junior) | $174,975 | $84.1 |
| Charge / SeniorShift lead. Precepts new hires. Specialized certification. | 50% (Median) | $228,580 | $109.9 |
| SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases. | 75% (Senior) | $291,625 | $140.2 |
| Director / LeadDepartment head or Advanced Practice Provider. | 90% (Expert) | $349,950 | $168.2 |
Detailed Psychiatrists Market Analysis
Relocation Context
Nominal Salary
$233,300
Gross Pay
Real Wage (Purchasing Power)
$186,491
Adjusted for COL (125.1)
The average annual salary of $233,300 in New York, when contrasted with a Cost of Living Index of 125.1, suggests that while the nominal income is substantial, the purchasing power may be somewhat diminished compared to lower-cost areas. Residents will find that a significant portion of their earnings is allocated towards the higher expenses associated with living in New York.
Job Market Context
3,850
Total Jobs
0.404
Per 1K Jobs
2.51
Location Quotient
New York has 2.5x 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.
A Location Quotient of 2.51 for Psychiatrists in New York signifies a highly concentrated job market. This indicates that the state is a significant hub for this profession, with a proportionally larger number of Psychiatrists relative to the national average, suggesting both a competitive environment for job seekers and a strong availability of specialized talent for employers.
Nearby Job Markets
Nearby Cities for Psychiatrists
| City | Salary | Dist. |
|---|---|---|
| Scranton--Wilkes-Barre, PA Psychiatrists Salary | $276,130↑ 18% | 64 mi |
| Utica-Rome, NY Psychiatrists Salary | $251,980↑ 8% | 66 mi |
| Albany-Schenectady-Troy, NY Psychiatrists Salary | $210,600↓ 10% | 68 mi |
Comparing salaries near New York
Hiring Psychiatristss?
Frequently Asked Questions
How much does a Psychiatrists make in New York?
The median annual salary for a Psychiatrists in New York is $233,300. This typically ranges from $83,200 for entry-level positions to $349,950 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New York is 15.0% lower than the national median of $274,560.
Is New York a lucrative place for Psychiatrists?
Yes, but with caveats.New York offers a high average salary of $233,300 for Psychiatrists, exceeding the national average in terms of job concentration. However, the elevated cost of living means that take-home purchasing power needs careful consideration.
Is New York a good place to live for Psychiatrists?
The Cost of Living Index in New York is 125.1. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near New York?
Some top paying nearby cities include Scranton--Wilkes-Barre, PA ($276,130) and Utica-Rome, NY.
How does the number of Psychiatrists in New York compare nationally?
New York has a substantial local workforce of 3,850 Psychiatrists. The Location Quotient of 2.51 indicates that this profession is more than twice as concentrated in New York compared to the national average.
What is the cost of living impact on a Psychiatrist's salary in New York?
With a Cost of Living Index of 125.1, New York is significantly more expensive than the national average. This means that the $233,300 average salary, while high, may not stretch as far as it would in a lower-cost state.
Are there many job opportunities for Psychiatrists in New York?
The Location Quotient of 2.51 suggests a strong presence and likely demand for Psychiatrists in New York, indicating a robust job market for this specialty.
How does the average Psychiatrist salary in New York compare to the national average?
The average annual salary for Psychiatrists in New York is $233,300, which is lower than the national average of $274,560.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,850 employees in the New York area with a job density of 0.404 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 York