Psychiatrists Salary
The median pay for a psychiatrists in Indiana is $284,110/year ($136.59/hour), per BLS data. The range runs from $162K at the entry level to $455K for experienced workers. Cost of living is below average (RPP 91.81), which stretches that salary to about $309,454 in buying power. Rent on a 2-bedroom averages $1,144/month, or 6.9% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across Indiana. Jump to a metro for precise data:
So what does $284K get you in Indiana?
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What this looks like in Indiana
Psychiatrists pay in Indiana tracks closely to the national median, $284K locally vs. $282K nationwide, a 1% difference. Housing is manageable: a 2-bedroom at the HUD median costs $1,144/month, 7% of take-home, well inside the 30% guideline. Regional Price Parity sits at 91.81 (national = 100), meaning everyday costs run about 8% 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, Indiana
Entry-level psychiatrists (10th percentile) start around $162K. Mid-career wages sit at $284K. Top earners bring in $455K or more, a $293K spread from bottom to top.
Psychiatrists salary by metro in Indiana
1 metro area with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Indianapolis-Carmel-Greenwood | $283K | -1% | 250 |
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Track psychiatrists salary changes
BLS updates this data quarterly. We'll email you when Indiana numbers change.
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Frequently asked questions
Can a psychiatrist afford a 2BR apartment alone in Indiana?
Yes — at the median salary of $284K, rent takes 7% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,144/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for psychiatrists in Indiana?
The 10th-percentile wage — what new psychiatrists typically earn — is $162K/year. Take-home on that works out to about $9,709/month. At HUD’s $1,144/month FMR, rent would take 12% of that take-home — manageable on an entry-level income.
Is psychiatrist a high-paying job in Indiana?
Pay here is roughly in line with the national average — $284K locally vs. $282K nationally, a 1% difference.
How does Indiana compare to the national average for psychiatrists?
Indiana pays $284K median vs. the U.S. average of $282K — that’s +1%. After adjusting for local cost of living (RPP 91.81), the purchasing-power equivalent is $309K — still ahead of the national median.
How much do psychiatrists make in Indiana?
The median is $284,110 a year, that works out to about $137 an hour. But the range is wide: entry-level workers start around $161,820, and experienced psychiatrists can clear $454,930. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $284K enough to live in Indiana?
On that salary, you'd take home roughly $16,326/month after taxes. A 2-bedroom here rents for about $1,144/month, which eats 7% 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 Indiana?
Indiana has a Regional Price Parity of 91.81 (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 $309,454 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.