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
More articles on practice management:
Alliance Institute combines with Carnation Clinic: 5 takeaways
Summit Orthopedics moves to new locations: 3 highlights
Orthopedic Institute of Wisconsin to open new facility: 3 observations
