I just graduated residency, and I could have walked into a job at any hospital or health system in my (highly saturated, highly desirable) city with my eyes closed so long as I had a pulse and an active medical license. Really hard to square the alarmism I sometimes see on SDN with my real life, in which this topic has never come up. Lots of anecdotes on this thread that don't square with salary #s, job #s, or the retirement crisis as all the boomer psychiatrists cut back hours or take a long deserved retirement. All of my residency classmates had their pick of jobs if they wanted to work in a system, and folks who went into cash only practice are already getting a ton of referrals (in a town with no shortage of cash only MD practices).
There are a few NPs I work with in my majority MD department who also don't match the picture being painted here. I generally enjoy working with them, have a collegial relationship with them, and witness them seeking and giving consultation on challenging cases. If anything they're being exploited by admin just and much if not more than I am, and I have more in common with an NP being hired by my system than with the CEO or CMO.
So I know it's boring to say there's not much to worry about, but some of the alarming posts in this thread feel like they're from another universe. And I'm in one of the most saturated markets for psychiatrists in the country!