Who Earns More? Psychologist or Psychiatrist?

When the financial side is well understood, making a career choice is much easier. Mental health as a profession has gathered steam in India, and demand for psychologists and psychiatrists is high. However, if salaries are to be considered as one criterion for your decision-making, it becomes important to understand that the two professions have different scales of remuneration. So let's find out who earns more and by how much.

Who earns more, a psychologist or a psychiatrist?

In India, psychiatrists generally make more money than psychologists. The average salary for a psychiatrist is between ₹10 and ₹12 lakhs yearly, while an experienced one earns about ₹20-26 lakhs a year. Psychologists earn an average of ₹4-7 lakhs a year with freshers starting around ₹3-5 lakhs and experienced ones going up to ₹17 lakhs in specialised roles.

Check here how does it works:

Why Do Psychiatrists Earn More?

Read below to understand why a psychiatrists earn more than a psychologist:

1. Medical Degree Matters Here: Psychiatrists complete MBBS (5.5 years) and MD in Psychiatry (3 years), totalling more than 8 years of medical training. Psychologists typically have a master's or a PhD in psychology, which means they would probably undergo a shorter and less expensive educational path compared to psychiatrists. The expensive medical training justifies higher compensation.

2. Psychiatrist Can Prescribe Medication: The psychiatrists medically diagnose mental health disorders and prescribe medicines. This gives them authority to treat cases that are medically intervenable, thereby giving them a specific and more valuable expertise in the health care setting.

3. Hospital and Clinical Settings Pay More to Them: While most psychiatrists actually work in hospitals, psychiatric facilities, or high-end clinics where doctors enjoy better compensation packages, those institutions usually have bigger budgets for medical staff than do counselling centres where psychologists work.

4. They have a Demand in Private Practice: The main reason patients approach psychiatrists is severe mental disorders and their treatment, which requires medicinal management. The fee for a single visit ranges between ₹1,500 - ₹ 5,000, with hectic patients' daily schedules making the private practice very lucrative. Psychologists also conduct private practice but have a lower fee structure.

5. Government Job Benefits: All psychiatrists working in government hospitals or institutions are put under medical officer pay scales, which are in fact higher than those of psychologist positions. Since psychiatrists are put in the medical category, they come under a different salary bracket altogether.

Psychiatrists are always said to earn more than psychologists in India, though both professions earn well with time and experience. The reason for this salary gap is mainly due to the medical degree possessed by psychiatrists and the authority to prescribe medicines. Both fields are fast budding in Indian mental health, where one can carve out a financially stable future in either.