Psychiatrists Salary

Yes — at the median salary of $279K, rent takes 11.3% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,810/month. That stays under the 30% guideline most financial planners use.

The 10th-percentile wage — what new psychiatrists typically earn — is $82K/year. Take-home on that works out to about $4,916/month. At HUD’s $1,810/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.

Pay here is roughly in line with the national average — $279K locally vs. $282K nationally, a 1% difference.

Philadelphia-Camden-Wilmington pays $279K median vs. the U.S. average of $282K — that’s -1%. After adjusting for local cost of living (RPP 102.55), the purchasing-power equivalent is $272K — below the national median.

The median is $279,410 a year, that works out to about $134 an hour. But the range is wide: entry-level workers start around $81,940, and experienced psychiatrists can clear $404,870. These are BLS numbers, based on employer-reported data, not self-reported surveys.

On that salary, you'd take home roughly $16,088/month after taxes. A 2-bedroom here rents for about $1,810/month, which eats 11.3% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.

Philadelphia-Camden-Wilmington has a Regional Price Parity of 102.55 (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 $272,462 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.