Psychiatrists Salary
The median pay for a psychiatrists in Minnesota is $336,410/year ($161.74/hour), per BLS data. The range runs from $90K at the entry level to $447K for experienced workers. Cost of living is below average (RPP 92.6), which stretches that salary to about $363,294 in buying power. Rent on a 2-bedroom averages $1,384/month, or 7.4% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across Minnesota. Jump to a metro for precise data:
So what does $336K get you in Minnesota?
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What this looks like in Minnesota
Minnesota sits well above the national pay line for psychiatrists, local pay runs about 19% higher than the U.S. median of $282K. Housing is manageable: a 2-bedroom at the HUD median costs $1,384/month, 7.9% of take-home, well inside the 30% guideline. Regional Price Parity sits at 92.6 (national = 100), meaning everyday costs run about 7% cheaper here. Your dollar stretches further than the headline salary suggests. Combined with manageable housing costs, Minnesota offers a genuinely strong financial position for psychiatristss at the median.
Compensation breakdown
Annual earnings by percentile, Minnesota
Entry-level psychiatrists (10th percentile) start around $90K. Mid-career wages sit at $336K. Top earners bring in $447K or more, a $356K spread from bottom to top.
Psychiatrists salary by metro in Minnesota
2 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Rochester | $342K | +2% | 130 |
| Minneapolis-St. Paul-Bloomington | $336K | +0% | 330 |
Compare to other states
Track psychiatrists salary changes
BLS updates this data quarterly. We'll email you when Minnesota numbers change.
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Frequently asked questions
Can a psychiatrist afford a 2BR apartment alone in Minnesota?
Yes — at the median salary of $336K, rent takes 7.9% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,384/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for psychiatrists in Minnesota?
The 10th-percentile wage — what new psychiatrists typically earn — is $90K/year. Take-home on that works out to about $5,428/month. At HUD’s $1,384/month FMR, rent would take 25% of that take-home — manageable on an entry-level income.
Is psychiatrist a high-paying job in Minnesota?
Local pay is 19% above the national median — $336K here vs. $282K nationally.
How does Minnesota compare to the national average for psychiatrists?
Minnesota pays $336K median vs. the U.S. average of $282K — that’s +19%. After adjusting for local cost of living (RPP 92.6), the purchasing-power equivalent is $363K — still ahead of the national median.
How much do psychiatrists make in Minnesota?
The median is $336,410 a year, that works out to about $162 an hour. But the range is wide: entry-level workers start around $90,470, and experienced psychiatrists can clear $446,520. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $336K enough to live in Minnesota?
On that salary, you'd take home roughly $17,565/month after taxes. A 2-bedroom here rents for about $1,384/month, which eats 7.9% 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 Minnesota?
Minnesota has a Regional Price Parity of 92.6 (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 $363,294 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.