Psychiatrists in New York City work across a spectrum of settings — from major academic medical centers and public health systems to thriving private practices serving the city's professional class. NYC's ongoing mental health crisis has intensified demand, and the shortage of psychiatrists relative to patient need continues to push salaries upward.
Private-practice psychiatrists who shift toward a cash-pay or hybrid model can earn significantly more than salaried hospital counterparts, especially in affluent Manhattan neighborhoods. Addiction psychiatry and child and adolescent psychiatry are the highest-demand subspecialties in NYC. NYC Health + Hospitals and the Department of Corrections both employ large numbers of psychiatrists under union contracts with strong benefits.
Psychiatrist at C$538,000 (~$398,120 USD) (single filer): Take-home is approximately C$12,405 per bi-weekly paycheck, or ~C$322,526 per year after all taxes.
| Career Stage | Annual Salary (CAD) | Approx. Net/Year |
|---|---|---|
| PGY Resident | C$137,000 | ~C$100,336 |
| Staff Psychiatrist | C$511,000 | ~C$307,990 |
| Senior Psychiatrist | C$648,000 | ~C$381,750 |
| Director of Psychiatry | C$830,000 | ~C$479,739 |
| Tax / Deduction | Per Bi-Weekly Check | Annual Amount | % of Salary |
|---|---|---|---|
| Gross Pay | C$20,692 | C$538,000 | 100% |
| Federal Income Tax | −C$5,738 | −C$149,195 | 27.7% |
| Ontario Provincial Tax | −C$2,360 | −C$61,362 | 11.4% |
| CPP (Pension) | −C$149 | −C$3,868 | 0.7% |
| EI (Employment Insurance) | −C$40 | −C$1,049 | 0.2% |
| Net Take-Home | C$12,405 | ~C$322,526 | 59.9% |
At C$538,000, your effective total tax rate is approximately 40.1%.
Major employers in Toronto for psychiatrists include University Health Network, Sinai Health, CAMH, SickKids.
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