There is a need for mental health services (including psychiatry) across Australia. This means psychiatrists can earn a good income.
The average annual psychiatrist salary in Australia is AUD 235,000.
Psychiatry registrars and senior registrars can expect to earn AUD 85,000 up to AUD 200,000 per year in a permanent role.
Psychiatry specialists earn up to AUD $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.
The salary of a psychiatrist in private practice in Australia can vary depending on a number of factors such as their level and years of experience, rates, location, and patient volume. A psychiatrist in private practice in Australia could earn between AUD 195,000 - AUD 800,000 per year.
It's important to note that this figure is only an estimate, and that individual salaries may be higher or lower depending on a range of factors. Additionally, psychiatrists who work in public hospitals or other settings may have different salary structures and compensation packages.
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 is between $2,000 and $2,500. In some roles, you could earn as much as $3,500 per day.
· Leadership and advocacy roles are an important part of psychiatry. Working with the government, courts, 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 skill set.
· 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 AUD 800,000 per year.
Some Australian states pay higher than others, for example, a psychiatrist's salary in NSW may differ from a psychiatrist's salary in QLD. You can take advantage of this by locuming across Australia and in rural areas. A psychiatrist's salary in rural NSW could end up being higher than that of a metropolitan.
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.
Due to the rise of mental health conditions, psychiatrists are in high demand in Australia, as there is a significant shortage of mental health professionals in the country. According to the Australian Government Department of Health, the demand for mental health services has increased significantly in recent years, and there is a particular need for psychiatrists to provide specialised care for individuals with complex mental health conditions.
To become a psychiatrist in Australia, one must study and obtain a medical degree (4-6 years), do in-hospital training (12 months), and then enroll and complete specialist training in psychiatry (5 years) with The Royal Australian and New Zealand College of Psychiatrists.
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.
**If you'd like to learn more about the hottest locations and the highest rates for doctors in Australia in 2022, you can download our brand new and free Job Market Report. **
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