Psychiatrists Salary
The median pay for a psychiatrists in New York is $265,890/year ($127.83/hour), per BLS data. The range runs from $86K at the entry level to $443K for experienced workers. Adjusted for local prices (RPP 98.21), that's roughly $270,736 in purchasing power. Rent on a 2-bedroom averages $1,917/month, or 13.1% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across New York. Jump to a metro for precise data:
So what does $266K get you in New York?
About psychiatrists
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What this looks like in New York
Psychiatrists pay in New York tracks closely to the national median, $266K locally vs. $282K nationwide, a 6% difference. Housing is manageable: a 2-bedroom at the HUD median costs $1,917/month, 12.9% of take-home, well inside the 30% guideline. Cost of living (RPP 98.21) 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.
Compensation breakdown
Annual earnings by percentile, New York
Entry-level psychiatrists (10th percentile) start around $86K. Mid-career wages sit at $266K. Top earners bring in $443K or more, a $357K spread from bottom to top.
Psychiatrists salary by metro in New York
8 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Kiryas Joel-Poughkeepsie-Newburgh | $314K | +18% | 80 |
| Ithaca | $280K | +5% | 40 |
| Binghamton | $273K | +3% | 30 |
| Albany-Schenectady-Troy | $260K | -2% | 160 |
| Utica-Rome | $257K | -3% | 40 |
| New York-Newark-Jersey City | $249K | -6% | 4,180 |
| Buffalo-Cheektowaga | $245K | -8% | 70 |
| Rochester | $234K | -12% | 130 |
Compare to other states
Track psychiatrists salary changes
BLS updates this data quarterly. We'll email you when New York numbers change.
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Frequently asked questions
Can a psychiatrist afford a 2BR apartment alone in New York?
Yes — at the median salary of $266K, rent takes 12.9% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,917/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for psychiatrists in New York?
The 10th-percentile wage — what new psychiatrists typically earn — is $86K/year. Take-home on that works out to about $5,167/month. At HUD’s $1,917/month FMR, rent would take 37% 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 York?
Pay here is roughly in line with the national average — $266K locally vs. $282K nationally, a 6% difference.
How does New York compare to the national average for psychiatrists?
New York pays $266K median vs. the U.S. average of $282K — that’s -6%. After adjusting for local cost of living (RPP 98.21), the purchasing-power equivalent is $271K — below the national median.
How much do psychiatrists make in New York?
The median is $265,890 a year, that works out to about $128 an hour. But the range is wide: entry-level workers start around $86,120, and experienced psychiatrists can clear $443,340. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $266K enough to live in New York?
On that salary, you'd take home roughly $14,825/month after taxes. A 2-bedroom here rents for about $1,917/month, which eats 12.9% 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 New York?
New York has a Regional Price Parity of 98.21 (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 $270,736 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.