Psychiatrists Salary
The median pay for a psychiatrists in New Jersey is $194,070/year ($93.3/hour), per BLS data. The range runs from $87K at the entry level to $405K for experienced workers. Adjusted for local prices (RPP 99.34), that's roughly $195,359 in purchasing power. Rent on a 2-bedroom averages $2,067/month, or 18.7% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across New Jersey. Jump to a metro for precise data:
So what does $194K get you in New Jersey?
About psychiatrists
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What this looks like in New Jersey
Pay for psychiatrists in New Jersey runs about 31% below the U.S. median of $282K. Housing is manageable: a 2-bedroom at the HUD median costs $2,067/month, 18.5% of take-home, well inside the 30% guideline. Cost of living (RPP 99.34) is near the national average, so spending patterns here track the typical American budget fairly closely. Lower pay, lower costs, New Jersey can be a reasonable trade-off for psychiatristss who value affordability over top-dollar markets.
Compensation breakdown
Annual earnings by percentile, New Jersey
Entry-level psychiatrists (10th percentile) start around $87K. Mid-career wages sit at $194K. Top earners bring in $405K or more, a $318K spread from bottom to top.
Psychiatrists salary by metro in New Jersey
2 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Atlantic City-Hammonton | $329K | +69% | 60 |
| Trenton-Princeton | $295K | +52% | 60 |
Compare to other states
Track psychiatrists salary changes
BLS updates this data quarterly. We'll email you when New Jersey numbers change.
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Frequently asked questions
Can a psychiatrist afford a 2BR apartment alone in New Jersey?
Yes — at the median salary of $194K, rent takes 18.5% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $2,067/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for psychiatrists in New Jersey?
The 10th-percentile wage — what new psychiatrists typically earn — is $87K/year. Take-home on that works out to about $5,227/month. At HUD’s $2,067/month FMR, rent would take 40% of that take-home — above the 30% guideline, so a 1-bedroom or shared housing is likely necessary starting out.
Is psychiatrist a high-paying job in New Jersey?
Local pay runs 31% below the national median — $194K here vs. $282K nationally.
How does New Jersey compare to the national average for psychiatrists?
New Jersey pays $194K median vs. the U.S. average of $282K — that’s -31%. After adjusting for local cost of living (RPP 99.34), the purchasing-power equivalent is $195K — below the national median.
How much do psychiatrists make in New Jersey?
The median is $194,070 a year, that works out to about $93 an hour. But the range is wide: entry-level workers start around $87,120, and experienced psychiatrists can clear $404,870. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $194K enough to live in New Jersey?
On that salary, you'd take home roughly $11,190/month after taxes. A 2-bedroom here rents for about $2,067/month, which eats 18.5% 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 New Jersey?
New Jersey has a Regional Price Parity of 99.34 (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 $195,359 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.