Psychiatrists Salary
The median pay for a psychiatrists in Indianapolis-Carmel-Greenwood, IN is $282,600/year ($135.87/hour), per BLS data. The range runs from $195K at the entry level to $455K for experienced workers. Adjusted for local prices (RPP 95.7), that's roughly $295,298 in purchasing power. Rent on a 2-bedroom averages $1,473/month, or 9% of estimated take-home pay.
So what does $283K get you in Indianapolis-Carmel-Greenwood?
Groceries, utilities, transportation, and healthcare scaled from national averages by Indianapolis-Carmel-Greenwood’s Regional Price Parity (95.7). Rent from HUD Fair Market Rents. Taxes estimated for single filer, standard deduction. * Healthcare is the employee-paid share only (premiums + out-of-pocket). Actual costs vary by coverage type: employer-sponsored, ACA marketplace, or uninsured.
About psychiatrists
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What this looks like in Indianapolis-Carmel-Greenwood
Psychiatrists pay in Indianapolis-Carmel-Greenwood tracks closely to the national median, $283K locally vs. $282K nationwide, a 0% difference. Housing is manageable: a 2-bedroom at the HUD median costs $1,473/month, 9.1% of take-home, well inside the 30% guideline. Cost of living (RPP 95.7) is near the national average, so spending patterns here track the typical American budget fairly closely. Use the affordability calculator above to model your specific situation.
Compared to nearby metros
Median pay for psychiatrists in metros near Indianapolis-Carmel-Greenwood, adjusted for local cost of living.
| Metro | Median pay | COL-adjusted |
|---|---|---|
| Chicago-Naperville-Elgin | $259K | $250K |
| Detroit-Warren-Dearborn | $339K | $338K |
| Cincinnati | $262K | $274K |
| Columbus | $221K | $231K |
COL-adjusted = median salary ÷ (BEA Regional Price Parity ÷ 100). Expresses purchasing power in national-average dollars.
Compensation breakdown
Annual earnings by percentile, Indianapolis-Carmel-Greenwood, IN
Entry-level psychiatrists (10th percentile) start around $195K. Mid-career wages sit at $283K. Top earners bring in $455K or more, a $260K spread from bottom to top.
Psychiatrists pay across states
Median income ranked highest to lowest, compared to the national figure
View Psychiatrists salary in all states
| State | Median salary | vs. national | Employment |
|---|---|---|---|
| California | $354K | +25% | 5,420 |
| Louisiana | $345K | +22% | 90 |
| Alaska | $342K | +21% | 50 |
| Minnesota | $336K | +19% | 580 |
| Wisconsin | $331K | +17% | 550 |
| Connecticut | $327K | +16% | 560 |
| Florida | $316K | +12% | 1,930 |
| Oregon | $315K | +12% | 430 |
| Missouri | $313K | +11% | 240 |
| Maryland | $305K | +8% | 460 |
| Washington | $305K | +8% | 360 |
| Vermont | $303K | +7% | 80 |
| Maine | $300K | +6% | 80 |
| Utah | $300K | +6% | 260 |
| Iowa | $295K | +5% | 170 |
| Virginia | $295K | +5% | 370 |
| Michigan | $292K | +4% | 560 |
| Hawaii | $290K | +3% | 170 |
| Rhode Island | $288K | +2% | 270 |
| Indiana | $284K | +1% | 410 |
| Delaware | $279K | -1% | 100 |
| Pennsylvania | $279K | -1% | 830 |
| Kansas | $278K | -1% | 60 |
| Oklahoma | $272K | -4% | 80 |
| Colorado | $266K | -5% | 270 |
| New York | $266K | -6% | 4,130 |
| Illinois | $259K | -8% | 870 |
| Arizona | $250K | -11% | 380 |
| New Hampshire | $246K | -13% | 90 |
| Ohio | $245K | -13% | 690 |
| Kentucky | $238K | -16% | 160 |
| Georgia | $237K | -16% | 470 |
| South Carolina | $237K | -16% | 200 |
| Texas | $228K | -19% | 1,690 |
| New Mexico | $228K | -19% | N/A |
| South Dakota | $226K | -20% | 60 |
| Tennessee | $215K | -24% | 410 |
| Mississippi | $214K | -24% | 110 |
| Nevada | $210K | -25% | 90 |
| New Jersey | $194K | -31% | 1,290 |
| District of Columbia | $183K | -35% | 310 |
| North Carolina | $169K | -40% | 620 |
| Nebraska | $135K | -52% | 180 |
| Arkansas | $125K | -56% | 150 |
| Idaho | $75K | -73% | 110 |
| West Virginia | $63K | -78% | 90 |
Showing 1–10 of 46 states with published data
BLS does not publish data for every state when sample sizes are too small
Track psychiatrists salary changes
BLS updates this data quarterly. We'll email you when Indianapolis-Carmel-Greenwood numbers change.
Related careers in Healthcare
Frequently asked questions
Can a psychiatrist afford a 2BR apartment alone in Indianapolis-Carmel-Greenwood?
Yes — at the median salary of $283K, rent takes 9.1% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,473/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for psychiatrists in Indianapolis-Carmel-Greenwood?
The 10th-percentile wage — what new psychiatrists typically earn — is $195K/year. Take-home on that works out to about $11,690/month. At HUD’s $1,473/month FMR, rent would take 13% of that take-home — manageable on an entry-level income.
Is psychiatrist a high-paying job in Indianapolis-Carmel-Greenwood?
Pay here is roughly in line with the national average — $283K locally vs. $282K nationally, a 0% difference.
How does Indianapolis-Carmel-Greenwood compare to the national average for psychiatrists?
Indianapolis-Carmel-Greenwood pays $283K median vs. the U.S. average of $282K — that’s +0%. After adjusting for local cost of living (RPP 95.7), the purchasing-power equivalent is $295K — still ahead of the national median.
How much do psychiatrists make in Indianapolis-Carmel-Greenwood, IN?
The median is $282,600 a year, that works out to about $136 an hour. But the range is wide: entry-level workers start around $194,840, and experienced psychiatrists can clear $454,930. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $283K enough to live in Indianapolis-Carmel-Greenwood?
On that salary, you'd take home roughly $16,251/month after taxes. A 2-bedroom here rents for about $1,473/month, which eats 9.1% 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 Indianapolis-Carmel-Greenwood?
Indianapolis-Carmel-Greenwood has a Regional Price Parity of 95.7 (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 $295,298 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.