<p>This question pertains mainly to psychiatrists but other medical fields as well. Like, psychiatrists should make 150,000 but for all medical careers, do insurance rates, malpractice insurance, etc. have a huge impact on salary? </p>
<p>Basically, is the stereotype that all doctors are rich a myth because of the overlooked insurance and other aforementioned rates?</p>
<p>The salary numbers you see online are usually after malpractice insurance premiums but pre-tax. So, while most doctors aren't rich, they are upper-middle class.</p>
<p>I personally believe that if you are not comfortable with the Job you should choose it because of the money. You choose your job by what you like and how it will benefit you and other people but not just for the money. :)</p>
<p>Oh by the way my Dad is a physician and hes in Internal Medicine basically treating Adult patients only.He used to be a Cardiologist but we moved and so they said he had to start all over and he didnt want to so yeah the point is he earns 140,000 a year and i think doctors deserve more for helping and saving lives everyday, but thankfully we are a upper middle-class family.Thank God. :) :).</p>
<p>well i;m interested in being a psychologist but i heard a psychiatrist makes soo much more so i'd rather do psychiatry then if that is true...</p>
<p>The practices can be very different. Income can depend an where you live. If you "cherry pick" rich patients who pay cash only (and REALLY ill patients are rarely rich, rich patients rarely REALLY ill) you can probably make $150k/year with either degree. But there are few communities that can support that kind of practice, and there will be a lot of competition and high cost of living there. The other way to make a lot more as a Psychiatrist has a lot to do with being comfortable doing "meds only", 10-15 minutes a visit, and that is not the practice most people think of when they think of Psychology.</p>