Psychiatrists Salary

Yes — at the median salary of $249K, rent takes 20.8% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $2,910/month. That stays under the 30% guideline most financial planners use.

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 $2,910/month FMR, rent would take 56% of that take-home — above the 30% guideline, so a 1-bedroom or shared housing is likely necessary starting out.

Local pay runs 12% below the national median — $249K here vs. $282K nationally.

New York-Newark-Jersey City pays $249K median vs. the U.S. average of $282K — that’s -12%. After adjusting for local cost of living (RPP 112.56), the purchasing-power equivalent is $221K — below the national median.

The median is $249,130 a year, that works out to about $120 an hour. But the range is wide: entry-level workers start around $87,120, and experienced psychiatrists can clear $443,340. These are BLS numbers, based on employer-reported data, not self-reported surveys.

On that salary, you'd take home roughly $14,005/month after taxes. A 2-bedroom here rents for about $2,910/month, which eats 20.8% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.

New York-Newark-Jersey City has a Regional Price Parity of 112.56 (100 is the national average). Prices are above average here, so your dollar buys less than the same salary would in a cheaper metro. After cost-of-living adjustment, the median psychiatrists salary is worth about $221,331 in national-average purchasing power.

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.