The average medical resident is earning $57,200 annually, according to Medscape’s 2017 Residents Salary and Debt Report, an increase from $56,500 in 2016.
Hematology, allergy and immunology, nephrology and cardiology residents are paid the most, with salaries in the $60-$70,000 range, while family medicine, internal medicine, emergency medicine and ophthalmology residents earn the least, receiving annual pay of $54,000-$55,000.
Medscape surveyed more than 1,500 residents to create the report.
Here are a few more highlights:
- Eighty-three percent of residents feel their compensation doesn’t adequately address the number of hours that they work.
- One-third of residents feel they should be paid 26-50% more.
- Nearly 40% of the residents surveyed say future compensation will be extremely or very influential on their ultimate choice of specialty.
- That being said, 44% of respondents in primary care specialties said they planned to pursue primary care, while 44% intend to subspecialize and 12% will specialize but haven’t chosen a specialty yet.
- Nearly 40% of respondents spend more than 60 hours per week seeing patients.
- Nearly 80% of respondents say they’re satisfied with their residency learning experience.
Interested in learning more about managing your finances as a resident or new physician? Read the following articles in The DO: