The results of Medscape’s 2015 Residents Salary & Debt Report are in. Below you’ll find information about the salaries of residents and an answer to one of the most important questions in the report: Do med residents feel fairly compensated?
• Average resident salary: $55,400
• Residents who specialized in Critical Care earned the most, at $62,000. This is followed by Oncology/Pulmonary Medicine ($61,000) and Cardiology ($60,000).
• Residents who specialized in Internal Medicine/Family Medicine/General Medicine earned the lowest salaries ($53,000).
• On average, first year residents earned the least on average at $52,000 per year. Each year following, residents earned more, with seventh year post-MD residents earning the most on average at $66,000 per year. Eighth year post-MD residents, however, took a salary dip, earning on average $63,000 per year.
• This year, the male-female salary gap was just $1,000 per year ($56,000 compared to $55,000, respectively). Last year, the gap was $2,000 – men took home on average $56,000, while women averaged $54,000.
• Residents in the Northeast earned $62,000 in 2015, up $1,000 since last year. Ranking second in this category are the residents in the Northwest who earned $57,000 this year. Last in line here are the Southeasterners (for the second year in a row) who earned $51,000 (compared to $50,000 last year).
• In general, 62% of residents said they felt fairly compensated. On the flip side, 38% do not.
• For the male-female breakdown, 60% of men feel fairly compensated, compared to 65% of females.
The Medscape survey covers loads more areas related to residents’ overall satisfaction and wellbeing, including student debt, the amount of scut work residents have, resident benefits, relationships with nurses, PAs, and attendings, amount of time spent at the hospital, number of hours on call, and much more. It’s definitely worth checking out. Here’s a link to the article, and here’s the slideshow.