How much do psychiatrists earn in Australia?

Do psychiatrists make good money?

Yes. Consultant psychiatrists generally earn at least $350,000 AUD if they work full time. Psychiatrists are 5th on the list of top salary earners in Australia.

Consultant psychiatrist earnings

Earnings vary by sector:

• Public health service — full-time permanent positions pay around $350,000 to $450,000 AUD per annum.
• Private sector — substantially higher, with potential earnings reaching up to $800,000 AUD.

Which subspecialty earns the most?

It's hard to say which specific field of psychiatry earns the most.

Some subspecialties are largely confined to public hospital settings — for example consultation-liaison psychiatry — so consultants in those areas tend to earn somewhat less than those in the private sector.

Subspecialties that lend themselves best to private-sector work — and therefore have higher earning potential — include:

• Forensic psychiatry
• Adult psychiatry

Compared to other mental-health roles

As is generally the case with other medical specialties, consultant psychiatrists earn significantly more than other mental-health professionals such as psychiatry trainees, psychologists, social workers and nurses.