Diagnose and treat mental health disorders using medication and psychotherapy. Median salary in Indianapolis: $238K/year. Data from BLS, O*NET, and H-1B disclosures.
Figures represent annual base salary in Indianapolis, Indiana. Reviewed by SalaryOptics Editorial · How we calculate this →
Analysis derived from the salary, COL, tax, and labor-market figures above — specific to this role and city.
Psychiatrists in Indianapolis earn approximately 4% lower than the US national median for this role — a $10,000 discount on annual base salary. Indianapolis's lower wage level partially reflects the area's cost-of-living index of 88 (US avg = 100).
Adjusted for Indianapolis's cost-of-living index (88), the median Psychiatrist salary buys the equivalent of $270,455 in a US-average-cost city. That's $22,455 more purchasing power than the national median — a meaningful real-wage advantage.
Based on BLS 2022–2032 Employment Projections and WEF Future of Jobs Report 2026. At current growth rates, median salary reaches $238K by 2030.
Enter your email for free access. We'll send salary market updates — unsubscribe anytime.
No spam. Unsubscribe anytime.
The median Psychiatrist salary in Indianapolis, IN is $238,000 per year as of Q1 2026. This figure represents the midpoint of all reported compensation for this role in the Indianapolis–IN metropolitan area, based on data from the Bureau of Labor Statistics Occupational Employment Statistics, H-1B visa disclosures from the Department of Labor, and O*NET occupational data.
Entry-level Psychiatrists in Indianapolis with 0–2 years of experience typically earn between $187,000 and $238,000 annually. Mid-career professionals with 3–7 years command $238,000 to $298,000, while senior-level practitioners with 8+ years of experience regularly earn $298,000 to $384,000 or more.
Indianapolis has a cost of living index of 88 compared to the US national average of 100. This means your salary goes approximately 12% further in Indianapolis than the national average. Indiana has a 3.23% state income tax rate.
MD; psychiatry residency; board certification. 35% of these roles offer some remote flexibility.