Psychiatrist vs Psychologist Salary

When talking about mental health professionals, psychiatrists and psychologists are two that often come to our mind. These two have similar goals. However, their paths and training differ. Another thing that also differs is their salaries. In this post, you will be able to find the difference between psychiatrist salary and psychologist salary.

The Differences between Psychiatrist and Psychologist Salary

In general, psychiatrists make more money than psychologists. Here is the table that shows the difference between psychiatrist and psychologist salary in the United States according to the U.S. Bureau of Labor Statistics:

In addition to geographical areas, the salary of psychiatrists and psychologists can also depend on their experience. For instance, an entry-level psychiatrist usually earns around $74,530. After five years, their salary may double. After that, the salary may double again if they have 20 or more years’ experience. Each year, they can collect about $208,000.

As for psychologists, they usually earn around $46,000 in their early years. Their income can double if they have been working for 5-9 years. By 20 years, they can gather almost $130,000 every year.

Why is Psychiatrist Salary Higher than Psychologist?

There are a few factors that make the salary of psychiatrists higher than psychologists. Some of them include educational requirements and scope of practice. While both psychiatrists and psychologists work in the field of mental health and focus on diagnosing and treating various mental disorders, these are things that make their salaries differ.

Psychiatrists are known as medical doctors who have completed medical school and specialized in psychiatry. They have to go through extensive medical training, including four years of undergraduate studies, four years of medical school, and four years of residency training in psychiatry. It is clearly a long journey and to complete everything, a lot of money is needed. This is one of the reasons why they earn more than psychologists, which is to compensate for their educational investment.

Furthermore, psychiatrists have a license to prescribe medication. Besides, they are also allowed to combine psychotherapy and medication management when treating patients.

On the other hand, psychologists typically hold a doctoral degree in psychology, such as Ph.D. or Psy.D. In order to help their clients, various therapeutic techniques are employed by them. What makes them different compared to psychiatrists is that they have no right to prescribe medication.

Bottom Line

In conclusion, the salaries of psychiatrists and psychologists differ due to a few factors such as the contrasting educational paths, scope of practice, and demand for their services. In general, psychiatrists, as medical doctors, earn higher salaries than psychologists. It is because of their additional medical training. Aside from that, they also have the ability to prescribe medication. As for psychologists, the ones with doctoral degrees in psychology usually have lower salaries. However, they may be able to increase their salaries if they specialize in various subfields.

After reading about the difference between the salary of a psychiatrist and a psychologist, you may have a clearer understanding of which career is best for you. When considering the career path to choose, it is better for you to think about your interests, aptitudes, and career goals instead of purely financial considerations.

Tia Varborough

A bookworm and researcher especially related to law and citizenship education. I spend time every day in front of the internet and the campus library.