The annual salary statistics of psychiatrists in Memphis, Tennessee is shown in Table 1. The wage information of psychiatrists in Memphis is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $56,280 |
| 25th Percentile Wage | $93,760 |
| 50th Percentile Wage | $123,270 |
| 75th Percentile Wage | $142,010 |
| 90th Percentile Wage | $171,910 |
Table 1 shows the average annual salary for psychiatrists in Memphis, Tennessee in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $171,910. The median (50th percentile) annual salary is $123,270. The average annual salary for the bottom 10 percent earners is $56,280.
The table and chart below show the trend of the median salary of psychiatrists from 2012 to 2018.
| Year | Median Salary | Yearly Growth | 6-Year Growth |
|---|---|---|---|
| 2018 | $123,270 | -1.95% | -1.78% |
| 2017 | $125,670 | 3.60% | - |
| 2016 | $121,140 | -15.56% | - |
| 2013 | $139,990 | 10.38% | - |
| 2012 | $125,460 | - | - |
From Table 3 we note that with a median annual salary of $123,270, Memphis is the lowest paying city for psychiatrists in state of Tennessee, following city of Knoxville (median annual salary of $196,400). In comparison, the median annual salary of psychiatrists in Memphis is 37.2 percent (37.2%) lower than that in the highest paying city Knoxville.
| Cities/Areas | Median Annual Salary |
|---|---|
| Knoxville | |
| Nashville-Davidson--Murfreesboro--Franklin | |
| Eastern Tennessee nonmetropolitan area | |
| Memphis |