Average Psychiatrists Salary in New York-Newark-Jersey City, NY-NJ
Psychiatrists in the New York-Newark-Jersey City, NY-NJ metropolitan area earn an average annual salary of $234,820. This figure is notably below the national average of $274,560, suggesting a complex interplay of factors influencing compensation in this high-demand region. While the nominal salary is substantial, the local cost of living being at the national average provides a unique perspective on purchasing power.
Executive Summary
- Average Salary: $234,820 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $352,230.
- Outlook: The local job market for Psychiatrists in the New York-Newark-Jersey City area appears robust, with a total workforce of 3,680 professionals. The Location Quotient of 2.45 indicates a significant concentration of these roles compared to the national average, suggesting a strong and sustained demand for psychiatric services within this major metropolitan hub.
Salary Overview
The average Psychiatrists in New York-Newark-Jersey City, NY-NJ earns-14.5%below the national average.
$112.9
$4,516
$19,568
Psychiatrists Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Psychiatrists in major metropolitan areas like New York-Newark-Jersey City have experienced steady growth over the past four years, mirroring national trends of increasing demand for mental health services and a corresponding rise in compensation for specialized medical professionals.
Psychiatrists Salary Distribution in New York-Newark-Jersey City, NY-NJ
Salary progression for Psychiatrists is strongly tied to experience. Entry-level positions typically command lower salaries, while seasoned professionals with extensive experience and specialized skills can expect significantly higher compensation. The percentile gaps in salary distribution highlight clear career progression pathways, rewarding expertise and tenure within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Resident / New GradClinical rotation complete. Gaining floor experience. | 10% (Entry) | $83,360 | $40.1 |
| Staff ClinicianFull patient caseload. Proficient in core procedures. | 25% (Junior) | $176,115 | $84.7 |
| Charge / SeniorShift lead. Precepts new hires. Specialized certification. | 50% (Median) | $229,630 | $110.4 |
| SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases. | 75% (Senior) | $293,525 | $141.1 |
| Director / LeadDepartment head or Advanced Practice Provider. | 90% (Expert) | $352,230 | $169.3 |
Detailed Psychiatrists Market Analysis
Relocation Context
Nominal Salary
$234,820
Gross Pay
Real Wage (Purchasing Power)
$234,820
Adjusted for COL (100)
The average annual salary of $234,820 for Psychiatrists in the New York-Newark-Jersey City area is positioned against a Cost of Living Index of 100, which is precisely the national average. This means that the nominal salary offers purchasing power equivalent to the national average, making it a stable financial proposition without the typical premium associated with high-cost-of-living areas.
Job Market Context
3,680
Total Jobs
0.393
Per 1K Jobs
2.45
Location Quotient
New York-Newark-Jersey City, NY-NJ 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.
With a Location Quotient of 2.45, the New York-Newark-Jersey City metropolitan area exhibits a significantly higher concentration of Psychiatrists than the national average. This suggests a highly competitive market, but also one with substantial demand for these specialized professionals, indicating ample opportunities for those entering or established in the field.
Nearby Job Markets
Nearby Cities for Psychiatrists
| City | Salary | Dist. |
|---|---|---|
| Kiryas Joel-Poughkeepsie-Newburgh, NY Psychiatrists Salary | $273,360↑ 16% | 44 mi |
| Trenton-Princeton, NJ Psychiatrists Salary | $267,080↑ 14% | 52 mi |
| Bridgeport-Stamford-Danbury, CT Psychiatrists Salary | $346,250↑ 47% | 54 mi |
| New Haven, CT Psychiatrists Salary | $266,170↑ 13% | 70 mi |
Comparing salaries near New York-Newark-Jersey City, NY-NJ
Hiring Psychiatristss?
Frequently Asked Questions
How much does a Psychiatrists make in New York-Newark-Jersey City, NY-NJ?
The median annual salary for a Psychiatrists in New York-Newark-Jersey City, NY-NJ is $234,820. This typically ranges from $83,360 for entry-level positions to $352,230 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New York-Newark-Jersey City, NY-NJ is 14.5% lower than the national median of $274,560.
Is New York-Newark-Jersey City, NY-NJ a lucrative place for Psychiatrists?
Yes, with caveats.While the average salary is below the national average, the high concentration of jobs and a cost of living matching the national average indicate a stable and opportunity-rich environment for Psychiatrists.
Is New York-Newark-Jersey City, NY-NJ a good place to live for Psychiatrists?
The Cost of Living Index in New York-Newark-Jersey City, NY-NJ is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near New York-Newark-Jersey City, NY-NJ?
Some top paying nearby cities include Kiryas Joel-Poughkeepsie-Newburgh, NY ($273,360) and Trenton-Princeton, NJ.
How does the New York-Newark-Jersey City Psychiatrist salary compare to the national average?
Psychiatrists in the New York-Newark-Jersey City area earn an average of $234,820 annually, which is $39,740 less than the national average of $274,560.
What is the concentration of Psychiatrists in the New York-Newark-Jersey City area?
The Location Quotient for Psychiatrists in this region is 2.45, meaning the area has more than double the national average concentration of these professionals.
How does the cost of living affect Psychiatrist salaries in this area?
The Cost of Living Index is 100, matching the national average. This means the $234,820 salary has purchasing power equivalent to the national average, despite being lower than the national salary.
What does the job market size indicate for Psychiatrists in New York-Newark-Jersey City?
With 3,680 Psychiatrists employed locally, the job market is substantial, supporting the high concentration indicated by the Location Quotient and suggesting consistent demand.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,680 employees in the New York-Newark-Jersey City, NY-NJ area with a job density of 0.393 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-Newark-Jersey City, NY-NJ