Psychiatrists pay range in Chicago
New workers and the lowest-paid 10% earn about $134,770 a year or less, while the top 10% make $487,560 or more. The middle half of psychiatrists in Chicago earn between $166,750 and $341,070.
- $135K10th
- $167K25th
- $259KMedian
- $341K75th
- $488K90th
median average · bar = middle 50% of workers
| Pay level | Per year | Per month | Per hour* |
|---|---|---|---|
| Average | $268,830 | $22,402 | $129.25 |
| Median | $258,750 | $21,562 | $124.40 |
| Entry level (25th percentile) | $166,750 | $13,896 | $80.17 |
| Experienced (75th percentile) | $341,070 | $28,422 | $163.98 |
*Hourly figures assume 2,080 paid hours a year.
Psychiatrists salary after taxes in Chicago
On the average salary of $268,830, a single filer in Chicago takes home about $182,378 a year, or $15,198 a month and $7,015 every two weeks. Taxes take 32% of gross pay.
The Chicago-Naperville-Elgin, IL-IN metro area crosses state lines, so take-home pay depends on the state where you work:
| State | Per year | Per month |
|---|---|---|
| Working in IN | $187,509 | $15,626 |
| Working in IL | $182,378 | $15,198 |
Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and state income tax (2025 rules).
Is Chicago a good place for psychiatrists? Pay vs. cost of living
Prices in the Chicago area are 4% above the U.S. average (BEA price parity 103.6), so the average $268,830 buys what about $259,501 would buy in a typical U.S. metro. This job pays 4.7 times the median wage of all jobs in Chicago ($54,720). A typical home costs $353,998, or 1.3 years of this average salary before tax.
Psychiatrists salary in other Illinois cities
Chicago ranks 2nd of 2 Illinois metro areas for this job; Springfield pays the most ($330,280).
- Springfield$330,280
- Chicago$268,830
Highest-paying cities for psychiatrists
Miami, FL pays this job the most of the metro areas we cover ($378,670).
- Miami, FL$378,670
- San Jose, CA$364,570
- Minneapolis, MN$358,870
- Los Angeles, CA$358,510
- St. Louis, MO$357,180
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Psychiatrists salary in Chicago: questions
How much do psychiatrists make an hour in Chicago?
$129.24 an hour on average, and $124.40 at the median (BLS, May 2025).
What is the entry-level psychiatrists salary in Chicago?
The lowest-paid 10% earn about $134,770 a year and the 25th percentile is $166,750, a fair guide to starting pay.
What is the psychiatrists take-home pay in Chicago?
About $182,378 a year ($15,198 a month) for a single filer on the average salary of $268,830.
Do psychiatrists earn more in Chicago than elsewhere?
The average here is about the same as the U.S. metro average for this job ($274,472).
Sources and how to read this page
- Wages: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2025 estimates for metropolitan areas. SOC code 29-1223; area Chicago-Naperville-Elgin, IL-IN (16980). Relative standard error of the mean wage: 12.5%.
- Cost of living: Bureau of Economic Analysis regional price parities (RPP), 2024; 100 = U.S. average.
- Home value: Zillow Home Value Index. Typical-wage figure: OEWS all occupations, same metro.
- Take-home pay: Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and state income tax (2025 rules).
- Job concentration: location quotient 0.74, this job is less common than in the U.S. overall (location quotient 0.74).
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