If you are a candidate for medical training and residency, there is a good chance that you’re looking to increase your salary. This salary report was compiled by reviewing publicly available salary data from the U.S. Department of Labor, Bureau of Labor Statistics and other publicly-available resources. You can read more about residency salaries in our blog: How Much Does A Resident Make?
Many residents are paid on a salary, not an hourly basis, but the amount of the salary during residency can vary widely. In general, the duration of your first year as a resident (graduate medical school) is typically considered to be paid at a very low level, around $45K per year or less. Typically, salaries increase in subsequent years after that due to promotions and additional qualifications that are earned
A resident is a medical professional who has completed a medical degree and is currently working under the supervision of either an attending physician (physician in charge) or another senior physician. The resident’s primary responsibility is to assume increasing levels of responsibility in patient care.
Salary For Residency Doctor Overview
Medical residents are doctors who have completed medical school and are in the process of furthering their education by working in a hospital. They are typically paid an hourly wage. The salary for a resident depends on the specialty they choose to practice.
A senior registrar doctor salary in Nigeria is not as high as you would think. In fact, the average Nigerian doctors salary is just $1,000 per month. The good news is that there are also opportunities for earning a higher medical resident salary by specialty.
Medical residency is a three-year program that prepares you to become a specialist physician. Residents work under the supervision of more experienced physicians while they complete their training and education. During this time, they earn up to $100,000 per year!
Residents get paid by the hour and their salary depends on several factors including their specialty and whether or not they’re an attending physician (an attending physician is a doctor who oversees residents).
What is a Medical Residency?
A medical residency is a graduate medical education program (GME) in which doctors-in-training can practice medicine alongside senior physicians in a clinic or hospital. This is also the time for graduates to choose which specialty they want to practice and choose a corresponding residency program.
Residencies typically take three to seven years to complete. Most states require doctors to have completed a medical residency before practicing medicine independently.
The jump from resident to doctor comes with a significant pay raise and the freedom to practice wherever your medical license is valid. So how much do residents get paid?
How Much Do Residents Make?
In the US, the national average medical resident salary is $64,000 annually, according to Medscape’s 2021 Residents Salary and Debt Report. Medical residency salaries tend to increase over time, generally starting around $50,000-70,000 a year with an additional $3,000 to $5,000 raise each year of residency.
Salaries also typically include benefits, including:
- Health insurance
- Dental insurance
- Parking
- Staff meals
It isn’t easy to give one answer to the question of how much the average resident makes in a year. There are plenty of factors that can influence how much a resident is paid aside from seniority, including:
- Geography
- Employer
- Specialty
For example, average resident pay in the US is significantly higher than pay in Europe and Canada, where healthcare is mostly centralized.
Are Medical Residents Paid Enough?
A quick google search will show that most medical residents are dissatisfied with their pay, though it has increased since 2020. Some residents start at $48,000 a year, which borders the poverty line in Canada.
Considering the number of hours residents work, it’s understandable why many aren’t happy with this starting rate. On the other hand, medical institutions aren’t keen on raising resident salaries due to a lack of funding and that residents are still learning and require supervision.
Medical Resident Salary by Specialty
A 2019 survey revealed how much residents were being paid in the U.S. by interviewing over 2,200 residents working in 30+ specialties. The results showed that a medical resident’s salary by specialty can greatly vary, and the highest-paid residents were:
- Medical Geneticists
- Allergy & Immunology
- HIV/Infectious Diseases
- Specialized Surgery
These residents earned between $65,700 and $67,500 a year.
The lowest-paid residents in 2019 were in Internal, Emergency, and Family Medicine programs, earning between $57,400 and $58,600. The gaps between these numbers translate to the amount senior physicians are paid a year, with family physicians making significantly less than geneticists, surgeons, and infectious disease specialists.
Some residents get paid $1,000 to $10,000 higher than others. Longer, more complex specialties tend to offer better salaries as well as better pay post-residency.
Medical Residency Salary by Year
By most standards, an average residency salary will begin at around $60,000 a year, and their salary will increase by approximately $5,000 with each year of residency. This figure is subject to change based on several factors, though it’s safe to assume residents initially remain around the $50,000 area.
Resident salaries increase throughout residency programs, as years of experience mean added responsibility. The $3,000-$5,000 pay increase per year seems consistent throughout all residency programs in the U.S. and Canada.
By the end of a residency program, residents can be making nearly as much as senior physicians depending on the specialty. Finishing resident salaries range from $70,000 – $125,000 annually.