Psychiatrists Salary
The median pay for a psychiatrists in Michigan is $291,850/year ($140.31/hour), per BLS data. The range runs from $81K at the entry level to $400K for experienced workers. Cost of living is below average (RPP 93.89), which stretches that salary to about $310,842 in buying power. Rent on a 2-bedroom averages $1,272/month, or 7.7% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across Michigan. Jump to a metro for precise data:
Where the paycheck goes
What $292K actually covers in Michigan, month by month
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What this looks like in Michigan
Psychiatrists pay in Michigan tracks closely to the national median, $292K locally vs. $282K nationwide, a 4% difference. Housing is manageable: a 2-bedroom at the HUD median costs $1,272/month, 7.7% of take-home, well inside the 30% guideline. Regional Price Parity sits at 93.89 (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, Michigan
Entry-level psychiatrists (10th percentile) start around $81K. Mid-career wages sit at $292K. Top earners bring in $400K or more, a $319K spread from bottom to top.
Psychiatrists salary by metro in Michigan
3 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Detroit-Warren-Dearborn | $339K | +16% | 160 |
| Grand Rapids-Wyoming-Kentwood | $225K | -23% | 110 |
| Ann Arbor | $93K | -68% | 110 |
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BLS updates this data annually. We'll email you when Michigan 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 Michigan?
Yes — at the median salary of $292K, rent takes 7.7% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,272/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for psychiatrists in Michigan?
The 10th-percentile wage — what new psychiatrists typically earn — is $81K/year. Take-home on that works out to about $5,182/month. At HUD’s $1,272/month FMR, rent would take 25% of that take-home — manageable on an entry-level income.
Is psychiatrist a high-paying job in Michigan?
Pay here is roughly in line with the national average — $292K locally vs. $282K nationally, a 4% difference.
How does Michigan compare to the national average for psychiatrists?
Michigan pays $292K median vs. the U.S. average of $282K — that’s +4%. After adjusting for local cost of living (RPP 93.89), the purchasing-power equivalent is $311K — still ahead of the national median.
How much do psychiatrists make in Michigan?
The median is $291,850 a year, that works out to about $140 an hour. But the range is wide: entry-level workers start around $81,390, and experienced psychiatrists can clear $399,920. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $292K enough to live in Michigan?
On that salary, you'd take home roughly $16,419/month after taxes. A 2-bedroom here rents for about $1,272/month, which eats 7.7% 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 Michigan?
Michigan has a Regional Price Parity of 93.89 (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 $310,842 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.