Residents make average of $57.2k annually — 20 key statistics

Practice Management

Medscape asked more than 1,500 residents across 25 specialties about their compensation in a new report, "Residents Salary and Debt Report 2017."

Here are 20 key statistics:

 

1. In 2017, the average resident salary totaled $57,200, up from $56,500.

 

2. Hematology residents raked in the highest salary at $69,000, while family medicine residents ranked lowest at $54,000.

 

3. Neurology and orthopedic residents, among others, bring in an average of $57,000.

 

4. Male residents make an average of $57,400 compared to female residents, who make an average of $56,700.

 

5. Eighteen percent of residents reported debt surpassing $300,000.

 

6. Of primary care residents, 44 percent plan to work in primary care; 44 percent plan to subspecialize; and 12 percent haven't decided on a specialty.

 

7. Residents reported the following when asked if potential earnings influence specialty choice:

 

• Extremely influential — 38 percent
• Somewhat influential — 53 percent
• Not at all — 9 percent

 

8. Of the residents surveyed, 33 percent believe they should earn 26 percent to 50 percent more.

 

9. Residents noted the following as reasons for compensation dissatisfaction:

 

• Compensation doesn't reflect hours worked — 83 percent
• Compensation isn't comparable to other medical staff — 68 percent
• Compensation doesn't reflect required skill level — 65 percent
• Compensation doesn't meet cost of living — 44 percent
• Inadequate benefit coverage — 19 percent

 

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