10 Highest Paying Countries for Psychiatrists: Top Companies & Avg Salary

The highest paying countries for psychiatrists are the USA, Germany, Canada, the UK, France, Australia, New Zealand, the Netherlands, Ireland and Switzerland. 

With the increasing mental health awareness, the need for trained professionals has never been more dire. This escalating need, coupled with a relatively smaller pool of qualified psychiatrists, has made the profession one of the most sought-after and rewarding medical specialities.

An international career in this field offers unique advantages like competitive salaries and opportunities for professional development. This guide explores some of the best countries for psychiatrists. Read on to learn more about the average psychiatrist’s salary in different countries and the potential advantages of relocating to these countries. 

Do you know?

• Employment for most mental health-related occupations is predicted to grow faster than the 3% average for all occupations. [1] 
• Over a billion people worldwide grapple with mental disorders, neurological issues and substance use. This crisis is particularly high in regions like the Eastern Mediterranean, where nearly 15% of the population lives with mental health conditions. [2]

Quick Overview

Source:

• Cost of living: LivingCost (Refer to country-wise pages)
• The rest of the sources are marked as comments.
• The cost of living in CHF was converted to USD using the Forbes Currency Converter on 06th Aug 2024.

10 highest paying countries for psychiatrists

1. USA – Average annual salary (USD 167,783)

The United States of America offers psychiatrists a wide range of work settings, from hospitals to private practices. It accommodates various professional goals and provides the space for endless opportunities. Tailored work hours and patient loads, combined with competitive salaries, make the US an excellent choice for a psychiatrist job abroad. 

The average psychiatrists ‘s salary based on experience is as follows:

• Entry-level psychiatrists – They can earn an annual salary of USD 118,000 
• Experienced psychiatrists – Experienced professionals can earn up to USD 322,000 annually.

Also read: Average salary in the USA

2. Germany – Average annual salary (EUR 82,638)

The nation prioritises mental health and has a robust healthcare system. Along with competitive salaries, psychiatrists are also offered a good work-life balance in Germany. Although navigating the administration and certification processes can be tedious, it is rewarded with attractive career prospects and exposure to unparalleled field experience. 

The average psychiatrists ‘s salary based on experience is as follows:

• Entry-level psychiatrists -These psychiatrists can earn an annual salary of EUR 49,000.
• Experienced psychiatrists – Experienced professionals can earn up to EUR 150,000 annually. 

Also read: Navigating the cost of living for expats in Germany

3. Canada – Average annual salary (CAD 320,788)

Flexible working hours, remote practice options and lower burnout rates compared to other medical specialities make it an attractive choice for a psychiatrist. Additionally, Canada’s commitment to research and innovation positions psychiatrists at the forefront of the field, offering professional growth and development. 

The average psychiatrists salary based on experience is as follows:

• Entry-level psychiatrists – psychiatrists can earn an annual salary of CAD 68,000.
• Experienced psychiatrists – Experienced professionals can earn up to CAD 340,000 annually.

Also read: 5 easy steps to get a job in Canada from India

4. UK – Average annual salary (GBP 93,764)

The United Kingdom offers a promising job market for psychiatrists. The growing recognition of mental health has led to the demand for skilled professions to rise considerably. The country’s proactive healthcare system, combined with opportunities for specialised training and research, makes it an attractive option for psychiatrists wanting to seek jobs abroad. 

The average psychiatrists ‘s salary based on experience is as follows:

• Entry-level psychiatrists – Entry-level psychiatrists can earn an annual salary of GBP 39,000.
• Experienced psychiatrists – Experienced professionals can earn up to GBP 118,000 annually.

Also read: Cost of living in the UK

5. France – Average annual salary (EUR 77,636)

France’s strong mental health care system and declining number of psychiatrists create high demand, especially in certain specialties.

The average psychiatrists salary based on experience is as follows:

• Entry-level psychiatrists – They can earn an annual salary of EUR 49,920.
• Experienced psychiatrists – Experienced professionals can earn up to EUR 134,202 annually. 

Also read: Average Salary in France: Salaries by City and Experience.

6. Australia – Average annual salary (AUD 140,058)

Australia’s focus on mental health and high demand for psychiatrists make it a secure job market with diverse growth opportunities.

The average psychiatrists salary based on experience is as follows:

• Entry-level psychiatrists – psychiatrists can earn an annual salary of AUD 79,000.
• Experienced psychiatrists – Experienced professionals can earn up to AUD 350,000 annually. 

Also Read: Average Salary in Australia.

7. New Zealand – Average annual salary (NZD 177,500)

New Zealand’s high-quality public healthcare, stunning natural landscapes and supportive healthcare community make it an attractive option for psychiatrists seeking professional satisfaction and a fulfilling lifestyle. Moreover, the shortage of mental health professionals also ensures a secure and lucrative job market offering diverse roles and exposure to various demographics.

The average psychiatrist’s salary based on experience is as follows:

• Entry-level psychiatrists – Entry-level psychiatrists can earn an annual salary of NZD 148,000.
• Experienced psychiatrists – Experienced psychiatrist professionals can earn up to NZD 489,000 annually. 

Also read: Common money mistakes to avoid when living abroad.

8. Netherlands – Average annual salary (EUR 91,302)

The Netherlands offers a well-funded mental health care system with a growing demand for psychiatrists. While navigating the system and administration procedures can be challenging for immigrant healthcare professionals, the job offers are worth the effort. 

The average psychiatrists ‘s salary based on experience is as follows:

• Entry-level psychiatrists – Entry-level professionals can earn an annual salary of EUR 72,600.
• Experienced psychiatrists – Experienced psychiatrist professionals can earn up to EUR 113,868. 

Also read: Cost of living in the Netherlands

9. Ireland – Average annual salary (EUR 140,447)

Ireland’s focus on mental health, supportive framework, competitive salaries, benefits, and diverse cases make it an appealing choice for a fulfilling career and good work-life balance.

The average psychiatrists ‘s salary based on experience is as follows:

• Entry-level psychiatrists – Entry-level professionals can earn an annual salary of EUR 35,000 psychiatrist.
• Experienced psychiatrists – Experienced psychiatrist professionals can earn up to EUR 196,000 annually. 

Also read: Cost of living in Ireland

10. Switzerland – Average annual salary (CHF 257,470)

Switzerland, known for its high quality of life, offers competitive salaries and a well-structured healthcare system that strongly emphasises work-life balance. While the administrative process can be complex, the opportunity to practise in a multicultural environment allows professionals to explore various specialisations. 

The average psychiatrists ‘s salary based on experience is as follows:

• Entry-level psychiatrists – Entry-level professionals can earn an annual salary of CHF 94,000.
• Experienced psychiatrists – Experienced psychiatrist professionals can earn up to CHF 150,000 annually. 

Country-wise salary

Note: The above table shows the average salaries for psychiatrists in the top 10 countries. All the currencies were converted to USD (to create graphs) on 07th Aug 2024 around 15:00 HRS IST.

Currency conversion tool: 

https://www.forbes.com/advisor/in/money-transfer/currency-conversion-calculator/

Other emerging countries

With several countries experiencing a growing demand for mental health services, there are many vacancies for psychiatrists globally. These nations offer attractive job opportunities for psychiatrists with competitive salaries. Here are a few emerging countries with lucrative job market opportunities for psychiatrists : 

• Norway
• Denmark
• South Korea
• Singapore

Different types of psychiatrist jobs overseas

Note: The above table illustrates the national average salary for the United States of America.

Source: Payscale

Do’s and Don’ts

Do’s

• Understand the specific requirements for practising psychiatry in your chosen country, including licencing, certifications and visa regulations. 
• Explore different visa categories for healthcare professionals and their eligibility requirements. 
• Learning the language of your target country is crucial for effective communication with patients and colleagues. 
• Build connections with psychiatrists and healthcare professionals in your target country through online platforms, conferences and professional organisations. 
• Emphasise your clinical experience and expertise during interviews.

Don’ts

• Don’t underestimate adapting to a new healthcare system and culture. 
• Don’t overlook licensing requirements; they impact job prospects. 
• Don’t rush—research the organisation and team to align with your career goals.
• Don’t ignore contract terms—review everything carefully before signing.

Before you go…

The rising global demand for mental health professionals offers psychiatrists opportunities to pursue jobs abroad. These international job opportunities for psychiatrists offer them various career scaling opportunities and attractive salary options. 

When pursuing job opportunities abroad, consider the financial aspects of relocation, such as living costs and psychiatrist salaries, which affect your stability. Moreover, choose a reliable fund transfer service like Instarem to send money home. 

Instarem is a secure and fast* fund transfer service that offers competitive conversation rates@. Instarem stands out for its affordability and convenience in international transfers.

Instarem’s convenient services are now available through the Instarem app which can be downloaded from the App Store or Google Play. 

FAQs

Q. How to get a psychiatrist job in a foreign country?

You can apply for psychiatrist jobs abroad using global job portals like LinkedIn or Indeed. 

Q. Which is the best country for psychiatrists with the highest pay for psychiatrists?

The United States of America offers the highest annual average salary for psychiatrists, which ranges around USD 167,783. 

Q. Which country has a demand for psychiatrists?

Countries like the United States of America, Germany, Canada, the United Kingdom, France, Australia, New Zealand, the Netherlands, Ireland and Switzerland have many jobs for psychiatrists.

Q. Which company is the best for psychiatrists?

Top companies in the USA, such as Sanford Health, Mayo Clinic, Burrell Behavioural Health and the Physician Affiliate Group New York, are some of the most popular companies for psychiatrists. 

Q. What is the starting psychiatrist salary abroad for a fresher psychiatrist?

The salaries for psychiatrist jobs in foreign countries for freshers can vary significantly across countries. The United States, for example, offers USD 118,000 for entry-level psychiatrists.

Q. How secure are psychiatrist jobs abroad?

 Psychiatrist jobs abroad are highly secure due to the global surge in mental health concerns and a persistent shortage of qualified professionals. 

Q. What is a psychiatrist’s salary abroad per month?

A psychiatrist’s salary abroad can vary depending on the country of practice. In top countries like the US, a psychiatrist can expect to earn around USD 13,982 per month. 

Q. What is a psychiatrist’s salary per hour?

The per-hour salary for psychiatrist jobs abroad can vary depending on the country of practice. Popular countries like the US offer around USD 80.66 per hour. 

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Disclaimers:

This article is intended for informational purposes only. All details are accurate at the time of publishing. Instarem has no affiliation or relationship with the products or vendors mentioned.

*Fast meaning 75% of our transactions are completed in 15 minutes. Depending on the funding method.

@ When it comes to affordable exchange rates and fees, it’s worth noting that the cost will vary depending on how you choose to fund your transactions. Credit card funding and bank transfer fees can differ significantly. 

Note: Salary and cost of living are taken from different websites on 6th August 2024 and are subject to change.

Citations:

• [1]https://www.bls.gov/opub/ted/2024/strong-growth-projected-in-mental-health-related-employment.htm
• [2]https://www.emro.who.int/media/news/world-mental-health-day-2023-mental-health-is-a-basic-human-right.html