Psychiatrist Salary in New Mexico
The median psychiatrist salary in New Mexico is $232,623 per year, which is 9% below the national median of $255,630.
Psychiatrist Salary Overview in New Mexico (2026)
New Mexico ranks #33 out of 50 states for psychiatrist compensation. Psychiatrist salaries in New Mexico are below the national median, though the lower cost of living can offset the difference. At $232,623 per year, psychiatrists in New Mexico earn $23,007 less than the national median of $255,630.
A key advantage of working in New Mexico is its below-average cost of living (93% of the national index). This means the $232,623 salary has the purchasing power of roughly $250,132 in an average-cost area.
The salary spread in New Mexico is significant: psychiatrists at the 10th percentile earn $109,200, while those at the 90th percentile bring home $364,000 — a $254,800 gap that reflects differences in experience, specialization, employer type, and metro area. The highest-paying city in New Mexico for this role is Santa Fe, where the median reaches $276,080.
Nationally, psychiatrist employment is projected to grow 7% over the next decade (faster than average). This steady growth indicates stable demand for psychiatrists across the country.
Psychiatrist Salary in New Mexico by Experience
In New Mexico, an entry-level psychiatrist earns around $113,750, while experienced professionals earn up to $350,350 per year. The cost of living index in New Mexico is 93% of the national average.
You May Qualify for Premium Rewards
Professionals earning $232,623+ often qualify for premium rewards cards with $500+ signup bonuses and 2–5% cashback on every purchase.
View Offers You Qualify For →Salary Percentiles in New Mexico
| Percentile | NM Salary |
|---|---|
| 10th Percentile | $109,200 |
| 25th Percentile | $159,250 |
| Median (50th) | $232,623 |
| 75th Percentile | $300,300 |
| 90th Percentile | $364,000 |
Psychiatrist Salary by City in New Mexico
The largest employment areas for psychiatrists in New Mexico include Albuquerque, Las Cruces, Rio Rancho, and Santa Fe. Salaries vary by city based on local cost of living and demand.
How to Become a Psychiatrist in New Mexico
Education
Most psychiatrist positions require a doctoral degree. New Mexico has several accredited institutions offering relevant programs.
Key Skills
Job Outlook in New Mexico
Nationally, psychiatrist employment is projected to grow 7% over the next decade (faster than average). New Mexico's demand may vary based on local industry trends.
Negotiate Your Way to Senior Pay
Data shows Psychiatrists who negotiate earn 7–15% more. A single negotiation could add $117,727 over your career trajectory.
Get Negotiation Scripts — $197 →Open to Psychiatrist Roles in New Mexico?
Get matched with recruiters hiring psychiatrists in New Mexico at competitive salaries.
Or browse positions directly: