Resident Physician Salaries

Residency is one of the most challenging times and experiences in a physician’s life.

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After medical school drains you of the finances you don’t have, transitioning into residency could feel like a blessing.

So, It’s normal to expect monetary rewards for all the efforts medical students put into their degrees. This is why many face disappointment when confronted with the average resident physician’s salaries.

According to Medscape, the average resident salary falls around the $70,000 mark. The longest-trained residents earned more than 21% more on average than the newest residents. 

Resident physicians have many woes regarding their work expectations, and their paycheck is one of the biggest. Between that and the long hours, it isn’t hard to see why so many residents complain of burnout.

Though, that’s the problem, isn’t it? Residency is training for when you are licensed to earn in the big leagues.

Still, what are resident physicians earning across the states? Let’s break it down:

• Do resident physicians get paid for their due diligence?
• How much can they expect their salary to be in the U.S.?
• What future can young doctors expect?

Resident Physician Salaries: Not Even Breaking The 100k Mark?

Residency is the next step in every medical graduate’s journey. The training they receive during residency often determines the initial trajectory of their medical careers. With limited spots, ambitious applicants, and an overall competitive environment, matching into your desired program isn’t easy either.

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It is also the first time you’ll bring in money as a certified physician, which is exhilarating. And while the figures have risen, according to Medscape, the average resident physician only reaches the $70,000 mark annually.

Such remuneration pushes residents into moonlighting during residency or opting for side gigs such as expert witnessing, especially when more than half of working residents are confronted with paying off at least $150,000 in debt.

Also read: Pros and Cons: Moonlighting During Residency

Considering student loan payments, interest, and the cost of living, the current resident physician salaries are barely enough to get by. Now factor in the salary to hours worked ratio, and you could explain the general disenchantment with the job.

Despite a 5% raise in resident physician salaries, it still isn’t enough. The rise has slowed to 1% between the first years after COVID-19 and doesn’t seem to be picking up.

But you know what has picked up exponentially? Rent. Cost of living. Inflation.

It’s hard to make ends meet, even as a young practicing doctor with their entire careers ahead of them. You could be planning things out perfectly and still have the worst time of your life stuck in a residency that barely pays you enough to stay afloat.

When that happens, it isn’t hard to see why so many medical graduates feel tired of the entire residency system, which feels more or less like an extension of medical school.

How Do Resident Physician Salaries Differ?

Your salary depends on many factors, from your location to the field you choose to do your residency in and your work environment. The figures also tend to fluctuate based on these factors.

For example, a family medicine residency in a rural area will pay differently than a neurosurgery placement in a big city would. But that doesn’t mean you can’t get a higher salary.

Usually, your salary rises as you gain experience as a resident doctor. Every year that passes means a salary increase, totaling about 21% for those with a more extended residency period of 5+ years.

But it also helps if you’re in a state that provides residents with somewhat competitive pay. For example, Maine is known for being the top-ranked state for residents in terms of pay because they pay the highest junior resident fees at $65,000 annually.

This is followed by Massachusetts and New York, paying around $61,000 to doctors just entering the residency programs.

How Are Resident Physicians Feeling About All This?

As I’ve mentioned, many residents don’t feel like they are being compensated fairly for all their work. Residencies often come with benefits such as health insurance (including dental and vision), paid leave, and sometimes relocation compensation. But when you break down the numbers, some residents aren’t making enough to pay rent.

Around 1 in 10 medical residents believe they should make more money than they are currently, citing issues such as high amenity bills, housing, etc. And if you work anywhere from 40 to 80 hours a week, you barely make above minimum wage as a practicing physician.

This is probably why so many resident physicians feel exploited. The cost of medical training is immense, yet many of these residents just don’t make the same amount of money compared to their hours of work.

Final Thoughts

It’s a hard knock life for residents out there and it’s hard to blame them. So many medical graduates think they’ll make the same six-figure salaries as senior doctors when they start residency, only to be placed into extended programs where they can’t even make a fraction of that.

Sure, it means a more secure future later on. But that doesn’t erase their present struggles.