Psychiatrists Salary
The median pay for a psychiatrists in Illinois is $258,740/year ($124.4/hour), per BLS data. The range runs from $135K at the entry level to $448K for experienced workers. Cost of living is below average (RPP 93.85), which stretches that salary to about $275,695 in buying power. Rent on a 2-bedroom averages $1,407/month, or 9.6% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across Illinois. Jump to a metro for precise data:
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What $259K actually covers in Illinois, month by month
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What this looks like in Illinois
Psychiatrists pay in Illinois tracks closely to the national median, $259K locally vs. $282K nationwide, a 8% difference. Housing is manageable: a 2-bedroom at the HUD median costs $1,407/month, 9.6% of take-home, well inside the 30% guideline. Regional Price Parity sits at 93.85 (national = 100), meaning everyday costs run about 6% cheaper here. Your dollar stretches further than the headline salary suggests. Use the affordability calculator above to model your specific situation.
Compensation breakdown
Annual earnings by percentile, Illinois
Entry-level psychiatrists (10th percentile) start around $135K. Mid-career wages sit at $259K. Top earners bring in $448K or more, a $313K spread from bottom to top.
Psychiatrists salary by metro in Illinois
2 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Springfield | $414K | +60% | 40 |
| Chicago-Naperville-Elgin | $259K | +0% | 600 |
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BLS updates this data annually. We'll email you when Illinois numbers change.
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Quick answers
The stuff people actually ask about this job
Can a psychiatrist afford a 2BR apartment alone in Illinois?
Yes — at the median salary of $259K, rent takes 9.6% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,407/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for psychiatrists in Illinois?
The 10th-percentile wage — what new psychiatrists typically earn — is $135K/year. Take-home on that works out to about $8,016/month. At HUD’s $1,407/month FMR, rent would take 18% of that take-home — manageable on an entry-level income.
Is psychiatrist a high-paying job in Illinois?
Pay here is roughly in line with the national average — $259K locally vs. $282K nationally, a 8% difference.
How does Illinois compare to the national average for psychiatrists?
Illinois pays $259K median vs. the U.S. average of $282K — that’s -8%. After adjusting for local cost of living (RPP 93.85), the purchasing-power equivalent is $276K — below the national median.
How much do psychiatrists make in Illinois?
The median is $258,740 a year, that works out to about $124 an hour. But the range is wide: entry-level workers start around $134,770, and experienced psychiatrists can clear $447,930. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $259K enough to live in Illinois?
On that salary, you'd take home roughly $14,640/month after taxes. A 2-bedroom here rents for about $1,407/month, which eats 9.6% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.
How far does a psychiatrists salary go in Illinois?
Illinois has a Regional Price Parity of 93.85 (100 is the national average). That's below average, your money stretches further here than the raw salary number suggests. After cost-of-living adjustment, the median psychiatrists salary is worth about $275,695 in national-average purchasing power.
Where do psychiatrists get paid the most?
The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.