Highest Paid Psychiatrist Specialties | Top 10 Psychiatrists With Salaries


Psychiatry is the branch of medicine focused on the diagnosis, treatment, and prevention of mental, emotional, and behavioral disorders. A psychiatrist is medical personnel that assesses all mental and physical symptoms. They make a diagnosis and work with you to develop a management plan for your treatment and recovery.

Like many other medical professions, Psychiatry has different specialties which include: child and adolescent psychiatry, geriatric psychiatry, forensic (legal) psychiatry, administrative psychiatry, addiction psychiatry, emergency psychiatry, consultation/liaison psychiatry, mental retardation psychiatry, and many others.

This article will contain the highest paid psychiatrist specialties in the World, top careers, and their salaries.

What Are The Salaries of the Highest Paid Psychiatrist Specialties?

There are about 28,000 professional psychiatrists, in the United States alone. According to the U.S. Bureau of Labor Statistics, the average income of a Psychiatrist was $200,220 as of May 2016.

The least-paid psychiatrists earn less than $61,330 annually, while the highest-paid psychiatrists earn more than $208,000 to over $300,000 annually.

Actually, this may be dependent on professional experience, education level, specialty, and location on the globe.

In general, a psychiatrist’s salary annually is above average.

Why Are Psychiatrists Among The highest-paid Specialties?

There are quite a number of reasons why psychiatrists make a lot of money and some of the reasons that justify their pay are:

  1. Psychiatrists are in great demand in the United States.
  2. A high number of psychiatrists are hired by the military and prisons which eventually, leaves few for the rest of the society.
  3. Psychiatrists are paid salaries when they work in hospitals or paid on per-patient basis by health insurance companies. They are not paid hourly
  4. The malpractice insurance is rather high.
  5. Psychiatry education like most medical sciences is long and the work is dangerous depending on the setting.
  6. Psychiatrists most of the time have to deal with unpleasant patients with special skills they acquire from thorough training while at school.

How Much Do Psychiatrist Make?

Psychiatrists make an average salary of $224, 247 annually. How much a psychiatrist makes in a year is dependent on a number of factors.

In 2020, the best-paid psychiatrist 25th percentile made over $205, 000 while the lowest-paid earned $135, 000 annually.

Top 10 Countries that Pay the Highest Psychiatrist Salaries

We already know why Psychiatrists are among the Highest Paid Psychiatrists Specialties. Now, we will look at the countries with these Highest Paid Psychiatrist Specialties.

Some countries that pay Psychiatrists the most

  • Germany. Salary –  $360,000
  • Canada. Salary – $277,000
  • United States. Salary – $260,000
  • Switzerland. Salary – $227,000
  • Ireland. Salary – $194,000
  • Australia. Salary – $157,000
  • France. Salary – $140,000
  • United Kingdom. Salary – $132,700
  • Netherlands. Salary – $113,000
  • Norway. Salary -$77,300

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Highest Paid Psychiatrists in the World

The Top 10 Highest Paid Psychiatrist and their Specialties include;

#1 Elliot Aronson | Psychiatry, Social Psychology

Eliot Aronson is best known for his works on cognitive dissonance. It is the feeling of discomfort that occurs when subjects experience inconsistent thoughts, beliefs, or attitudes as they struggle with behavioral decisions and changing attitudes.

Particularly, he examined the social dimensions of human motivation and the underlying reasons for prejudice and aggression.

He is the author of the widely used social psychology textbook The Social Animal.

He is the Highest Paid social Psychiatrist Specialties personnel.

Salary: under review
Networth: ($1 million – $7 million)

#2 Mihály Csikszentmihályi | Personality psychology:

Born in 1934 and receiving his doctorate degree from the University of Chicago in 1965, Mihály Csikszentmihályi is best known for his contributions to positive psychology.

In his work to describe the psychological concept of extreme mental focus and resulting positive feelings that are conducive to productivity, he coined the term “flow”.

Mihaly introduced this concept into popular psychology with his book Flow: The Psychology of Optimal Experience in 1990.

The major focus of his work is on intrinsic motivation; the drive to seek out new things and new challenges.

Salary: under review
Networth: ($1 million – $3 million)

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#3 Richard J. Davidson | Personality psychology, Biological psychology, Cognitive psychology

Born in 1951 and earned his doctorate degree from Harvard University in 1976.

He is one of the Highest Paid personality Psychiatrist Specialties. Richard J. Davidson is best known for his work in mindfulness and meditation, conducting EEG and fMRI studies with Tibetan Monks.

He proposed that Buddhist meditation could train the brain to achieve more positive affective states.

In 2000, Richards Davidson got the award of the Distinguished Scientific Contribution and was named the noted one of the most influential people of 2006.

Salary: under review
Networth: (~$5 million)

#4 John R. Anderson | Psychiatry, Cognitive Psychology:

Born in Canada, in 1947, John Anderson got his bachelor’s degree from the University of British Columbia and his Ph.D. in psychology from Stanford University in 1972.

John Anderson is currently a professor of Psychology (with a joint appointment in Computer Science) at Carnegie Mellon University.

He is one of the Highest Paid cognitive Psychiatrists Specialties in salary.

Salary: $215,000
Networth: (~ $3 million)

#5 Dan Ariely | Behavioural psychology:

Born in New York City in 1967, Dan is one of the Highest Paid Behavioural Psychiatrist Specialties.

Dan Ariely returned to Israel with his family when he was three years old, and grew up in the town of Ramat HaSharon.

He got his bachelor’s degree in psychology from Tel Aviv University in 1971 and his Ph.D. in cognitive psychology in 1991 from the University of North Carolina at Chapel Hill.

Salary: $300,000
Networth: (~ $3 million)

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#6 Albert Bandura |Social psychology, Psychiatry

Born in Alberta, Canada, in 1925. His father was an immigrant to Canada from Poland, while his mother hailed from Ukraine.

He got his bachelor’s degree in psychology from the University of British Columbia in 1949 and his master’s degree in theoretical psychology in 1951 from the University of Iowa.

Salary: $421,000
Networth: (~ $4 million)

#7 Lisa Feldman Barrett | Biological psychology:

Lisa is one of the Highest Paid biological Psychiatrist Specialties.

Born in Ontario, Canada, in 1963. Lisa Barrett received her bachelor’s degree in psychology from the University of Toronto, and her Ph.D. in clinical psychology at the University of Waterloo.

She is currently a professor of Psychology at Northeastern University, where she heads up the Interdisciplinary Affective Science Laboratory.

Salary: under review
Networth: (~ $5 million)

#8 Aaron T. Beck  | Psychiatry, personal psychology

Born in Rhode Island, in 1921 into a family of Jewish immigrants to the United States from Russia.

He earned his bachelor’s degree in 1942 from Brown University and received his master’s degree in 1946 from Yale Medical School.

Aaron is an emeritus professor of psychiatry at the University of Pennsylvania’s Perelman School of Medicine.

He is also the President Emeritus of Beck Institute for Cognitive Behavior Therapy.

Salary: under review
Networth: ($1.5 ~ $5.5 million)

#9 Paul Bloom | Psychiatry, Psycholinguistics, Developmental psychology

Born in Quebec, Canada, in 1963. He received his bachelor’s degree in psychology in 1985 from McGill University and his doctorate degree in cognitive psychology in 1990 from Michigan Institute Of Technology.

His doctoral dissertation on language acquisition was supervised by Susan Carey.

He is presently the Brooks and Suzanne Ragen Professor of Psychology and Cognitive Science at Yale University.

Salary: under review
Networth: ($1 ~ $5 million)

#10 Leda Cosmides | Psychiatry, Evolutionary Psychology:

Born in Philadelphia, Pennsylvania, in 1957. Leda Cosmides earned her bachelor’s degree in 1979 from Radcliffe College and her doctorate degree in 1985 from Harvard University.

While at Harvard, she worked closely with popular evolutionary theorist Robert L. Trivers.

She is presently a distinguished professor in the Department of Psychological and Brain Sciences at the University of California, Santa Barbara.

Leda is one of the Highest-Paid of Evolutionary Psychiatrist Specialties.

Salary: under review
Networth: ($5.2 million)

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Highest Paid Psychiatrist Specialties In The World

1. Locum psychiatrist

Locum psychiatrists are specialists who temporarily fill a function at a hospital or medical facility because the noun locum means “to stand in.” Because they have to assist where they are needed, they frequently have working knowledge of a variety of psychiatric specializations, such as outpatient or adolescent psychiatry. Depending on the necessity, their mission may endure for a number of weeks, months, or even years.

2. Outpatient psychiatrist

Outpatient psychiatrists help patients who suffer from mental illness but who don’t need extensive monitoring.

They work with patients to identify and combat their struggles, sometimes prescribing medications or other forms of treatment, then sending them home. These patients don’t require overnight stays and typically experience lesser cases of mental illness or are making strides in their recovery.

3. Child and adolescent psychiatrist

Psychiatrists for children and adolescents treat children 12 years of age and younger. When evaluating their customers, they take into account a number of variables, including family dynamics and upbringing, peer and social components, and cognitive development, in order to provide the best care possible.

Psychiatrists for children and adolescents work closely with young patients’ parents or guardians to identify and treat a wide range of disorders.

4. Forensic psychiatrist

Forensic psychiatrists study mental health and the law and apply that knowledge to help determine a defendant’s competency in relation to their mental health status. They evaluate and diagnose patients who struggle with disorders such as hysteria, schizophrenia, or post-traumatic stress disorder. They sometimes testify as a witness in court to provide insight into a defendant’s mental state.

5. Interventional psychiatrist

Interventional psychiatrists investigate the potential impact of brain circuitry on mental health. Instead of using popular psychotropic medicines, they diagnose and treat mental problems using neurotechnologies. Interventional psychiatrists treat patients who are resistant to conventional drugs and therapies by employing brain-stimulating procedures like electroconvulsive therapy or deep brain stimulation, which may benefit them in the long run.

Who is the Highest Paid Psychiatrist in the World?

Elliot Aronson is the highest paid psychiatrist in the world. He is known for his eloquence, humor, wit, and humanity-filled writings fir for the wider public.

Elliot has won APA’s highest awards in all three major academic categories. The prominent American social psychologist was born in 1932 on January 2nd precisely.

The highest-paid psychiatrist in the world has written over 150 scientific articles and chapters. In fact, he has carried out experiments on the theory of cognitive dissonance. His invention, the Jigsaw Classroom is a cooperative teaching technique that facilitates learning while reducing interethnic hostility and prejudice.

FAQs On Highest Paid Psychiatrists

What is the highest paying state in the US for psychiatrists?

South Dakota is the highest paying state in the US for psychiatrists, they pay $383,934 on average annually.

Who is the highest-paid psychiatrist in the world?

Elliot Aronson is the highest paid psychiatrist in the world. He is known for his eloquence, humor, wit, and humanity-filled writings fir for the wider public.

Which country pays psychiatrists the most?

Germany is the highest paying country for psychiatrists. They pay an annual average salary of $360,000.

What’s the difference between a psychologist and a psychiatrist?

Psychologists treat patients with mild, short-term, or chronic mental illnesses such as stress and anxiety, depression, or substance abuse. Psychiatrists on the other hand study the cause, prevention, and treatment of complex mental health disorders such as bipolar disorder, major depression, or schizophrenia through a biological lens.

Conclusion

Psychiatry is a medical profession that can earn you a lot of money. Its practitioners earn a lot of money because their role in society is vital and their work is around human beings with mental issues.

Research has also shown that the annual salary of a psychiatrist varies with locations across the globe. Countries like Germany, United States, Switzerland, and Canada pay the Highest-Paid Psychiatrist Specialties.

Also, if you consider a career in psychiatry, remember psychiatrists are in high demand and chances are that it will embrace you into the labor market with a great salary.

We hope you enjoyed reading this article on the Highest-Paid Psychiatrist Specialties?

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