(Last Updated On: March 2, 2020)
Psychiatrists are medically qualified doctors who mainly specialize in the diagnosis and treatment of patients who have various mental health disorders such as dementia, schizophrenia, bipolar disorder, depression, eating disorders etc. One can specialize in areas such as general adult, child and adolescent, old age, forensic, psychiatry of intellectual disability and medical psychotherapy. Here is a list of countries with the highest paid psychiatrists.
Salary – $360,000
According to data obtained from the Federal Statistics Office, German psychiatrists earn around €324,000 annually in fees for their service provision. Generally, doctors working in private hospitals and university clinics make more than their counterparts in municipal hospitals.
Salary – $262,000
A basic community or academic psychiatrist based in Ontario or British Colombia is able to earn between CAD 180,000 – CAD 250,000 a year. Most psychiatrists working 8 hours a day 5 days a week are able to make CAD 350,000+ annually through billing CAD 200/hr. Sub-specialists such as forensic psychiatry are able to make an average of CAD 700,000 annually.
3. United States
Salary – $260,000
According to Medscape which conducted a study on over 20,000 physicians and more than 30 specialists, the average annual salary of psychiatrist is around $260,000 annually.
Salary – $227,000
According to the Federal Office Of Public Health, psychiatrists are able to make around CHF 219,000 annually while child psychiatrists earn CHF 187,000 per year.
Salary – $194,000
A consultant psychiatrist in Ireland with over 4 years of experience can expect a basic gross annual salary from €127,000 – €175,000 (including on calls and allowances). This is approximately a net monthly salary of €7,000 – €8,000 and pension deductions.
Salary – $157,000
As per the data from the Australian Taxation Office, psychiatrists in the country are able to make AU$240,000 annually.
Salary – $140,000
Psychiatrists working in the private sector in France are able to get an annual net fees of €126,400 from the provision of their services to the public.
8. United Kingdom
Salary – $132,700
According to the NHS, salaries for newly qualified consultants start at £76,761 and this rises to £103,490 annually depending on the length of your service.
Salary – $113,000
Medical specialists in Netherlands earn €5,000 per month during their first year of work and this rises to over €8,760 per month once one attains over 6 years of work experience.
A Norwegian psychiatrist earns around NOK 60,000 per month which adds up to NOK 720,000 a year.