Residency and Fellowships in the USA are both a type of "Graduate Medical Education" - while Medical school would be classified as Undergraduate. MD Resident salary in 2010 from any specialty were as follows:
NOTE: These are means based on a national survey by the AAMC - the actual figures can vary by $3,000 to $4000 on either side of the mean, an at times more.
Year
|
Average Salary
|
1st (PGY1 / Intern)
|
$46,000
|
2nd (PGY2)
|
$48,000
|
3rd (PGY3)
|
$50,000
|
4th (PGY4)
|
$52,000
|
5th (PGY5)
|
$55,000
|
6th (PGY6)
|
$57,000
|
Medical school residency programs in Internal Medicine and Family Practice have a duration of three years, Neurology & Pathology is four years, while General Surgery is usually 5 years, Neurosurgery - 6 years.
Chief Residents may or may not receive an additional stipend of $2000/- to $3500/- a year (not a rule), and sometimes may include a promise of getting into their fellowship programs.
NOTE: Some places may even offer more attractive residency salary depending on the cost of living - such as New York. Kingsbrook Jewish Medical Center is known to offer the highest residency salaries and here's the latest figures on the website:
Year
|
Average Salary
|
1st (PGY1 / Intern)
|
$51,514
|
2nd (PGY2)
|
$56,137
|
3rd (PGY3)
|
$61,597
|
4th (PGY4)
|
$63,209
|
5th (PGY5)
|
$65,234
|
But then again, a Resident has some good perks & benefits - like most programs provide free food to residents while on duty, free laundry for their coats and free parking spaces...besides health insurance. As a sample, have a look at the Internal Medicine residency compensation and benefits at the Mayo Clinical college of Medicine, Arizona. Here's another sample look at salaries and benefits at Carle Foundation family Practice Residency.
Lot of banks too open up to residents, providing zero-down payment loans for buying houses !
Do Residency Salary Levels Depend on the Specialty ?
No - Usually Residents of all specialties at a given institution receive the same salary levels, which rather depend on the year (i.e. PY1, 2, 3 or 4) . Salary levels may vary from one institution to another and often vary from state to state, as per living costs.
Is there a Difference in Residency Salaries of MD and DO (Doctor of Osteopathy) Candidates ?
No, all are paid the same - MD (Americans and IMGs) and DO candidates
It is good to know that Residency Salaries and in fact for all Graduate Medical Education (GME) in the USA is paid for by mainly by Medicare and partly through state-level Medicaid funds, both of which are derived from tax-payers money in the US.
Residency Work Hours and Lifestyle
Most of the specialties are Hectic ! The most rigorous years of a physicians life - the 80-hour per week work limits now imposed on a resident have bought some sanity, but that limit is often transcended under the demands of patient care. Generally speaking, University Programs and University-Affiliated residency programs are more saner to work in as compared to the more busy community programs. For more information about Residency and lifestyle of residents in USA read Top 5 Tips for Surviving Residency in USA.
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