Data from 97 psychiatrists and 395 psychologists in California were available for the study.
Psychiatrists work longer hours and deal with sicker patients and make a lot more money than psychologists.
Psychiatrists were working on average 46.5 hours per week while Psychologists worked 41.6
Psychiatrists were making on average $62.64 per hour or $130,350.00 per year while Psychologists were making $39.44 per hour or $72,308.00 per year.
Psychiatrists make more because they do medication consultations for briefer periods of time and can see more patients per hour. Also, there seems to be a surplus of Psychologists on the market while Psychiatrists are in short supply. For example, in 1999 there were 11,000 licensed Psychologists in California compared to 5,340 in 1990. That's an 88% increase in a 10 year period.
Psychiatric Social Workers, and Licensed Marriage and Family Therapists were not included in this study even though they provide a great deal of mental health and psychotherapeutic services as well.
Psychiatric Services -- Pingitore et al. 53 (8): 977