Allergy & immunology, rheumatology and specialized surgery trainees are paid the most, with salaries ranging from $66,100 to $68,000 on average, while public health & preventive medicine, family medicine and emergency medicine trainees earn the least, receiving annual pay of $55,500-$56,800.
As expected, salaries increase with years of experience, and those in highly specialized programs have often been in training for many years. Salaries in the sixth through eighth years of postdoctoral training average $64,300, considerably more than the $55,200 received in the first year of residency.
Medscape surveyed more than 1,900 trainees in 29-plus specialties to create the report.
Here are more highlights:
- Male and female residents earn similar salaries, though male residents earn slightly higher salaries at $59,600 vs. female residents’ $58,700. The earnings gap among physicians is significantly higher. In primary care, for example, men earn 18% more than women, and male specialists earn 36% more.
- More than half of first-year residents feel fairly compensated. By years six to eight, only 35% of residents feel adequately compensated.
- Over 40% of residents surveyed say future compensation will be highly influential on their ultimate choice of specialty.
- That being said, 40% of respondents in primary care specialties said they planned to pursue primary care, while 46% intend to subspecialize and 14% will specialize but haven’t chosen a specialty yet.
- Almost a quarter of residents surveyed had over $300,000 in medical school debt, while the same amount have no debt. Another 24% of residents have between $200,001-$300,000 in debt.
- Thirty-seven percent of respondents spend more than 60 hours per week seeing patients.
- More than 80% of respondents say they’re satisfied with attending physicians’ treatment of residents.
Interested in learning more about managing your finances as a resident or new physician? Read the following articles in The DO: