The average annual psychiatrist salary in Australia is $220,000.
Psychiatry registrars and senior registrars can expect to earn $85,000 up to $200,000 per year in a permanent role.
Psychiatry specialists earn up to $500,000 – with specialists in private practice earning even higher annual salaries.
Psychiatry is one of the most in-demand specialties in Australia. There aren’t enough psychiatrists to fill the available roles, so in addition to a high annual salary, your chances of finding a job are high.
Psychiatrists can expect a good annual salary. But how can you increase your income, without increasing the number of hours you work?
· Locum tenens rates are typically higher than the equivalent permanent hourly rate. The average day rate for a locum consultant psychiatrist between $2,000 and $2,500. In some roles, you could earn as much as $3,000 per day.
· Leadership and advocacy roles are an important part of psychiatry. Working with government, court and communities can be rewarding both financially and mentally. This is also a good option if you want to add non-clinical work to your skillset.
· Opening your own practice is a new kind of challenge for many doctors but it can be liberating and financially rewarding. Psychiatrists working in private practice, or running their own practice, can earn as much as $800,000 per year.
The number of job opportunities for psychiatrists is growing. Government funding and recognition of an increased need for psychiatrists means there are a lot of opportunities in this specialty.
Looking to gain experience and further your career as a psychiatrist? Work with us to find the right psychiatry role for you. We’re a preferred supplier to hospitals and clinics across Australia and have jobs for psychiatrists, doctors and specialists at different career stages.
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