Resident Physician Pay: Understanding Your Earnings as a Medical Resident

Curious about how much resident physicians earn? Resident pay is a hot topic for anyone starting medical training. While it’s not the highest paycheck out there, it’s an important phase in your career where you’re learning while getting compensated. Let’s break down what you can expect and what influences your resident salary.

How Much Do Residents Typically Make?

Resident salaries can vary based on location, hospital, and specialty. On average, most residents earn somewhere between $55,000 and $70,000 per year. Don’t expect this to match what fully licensed doctors get immediately after residency — it’s a training period, not the peak of your earnings. Some big city hospitals might offer higher salaries, but living costs there are often steeper, offsetting the pay bump.

It’s also worth noting that resident pay usually increases each year you spend in the program. First-year residents (interns) start at the base rate, and by the third or fourth year, you’ll likely see a modest raise. However, compared to private practice doctors, the salary is relatively modest during residency.

What Factors Affect Resident Pay?

Location is a huge factor. States with higher living costs, like California or New York, typically pay residents more to help cover expenses. Hospital type also matters—teaching hospitals affiliated with big universities might offer better compensation packages than community hospitals.

Specialty choice can influence things too. Some specialties, especially surgical ones, may have higher stipends or additional benefits like overtime pay or bonuses. However, the difference during residency isn’t as stark as once you become an attending physician, where specialties like dermatology or cardiology tend to earn more.

Benefits like health insurance, meal stipends, housing support, and education allowances often come with residency programs. These perks can significantly add value even if the salary number itself seems low at first glance.

Resident work hours are intense—long shifts and overnight calls are common—and the pay reflects the balance between learning on the job and compensation for your time. If you’re evaluating residency programs, consider the whole package, not just the paycheck.

In case you’re wondering, taxes do take a bite out of resident pay, and because the income is moderate, figuring out good tax strategies or loan repayment programs can be helpful. Also, many residents focus on loans and debt management since medical school is costly.

Bottom line: Resident physician pay is modest but grows with experience and varies by program. It’s designed to support you through this demanding training while you build skills that lead to a higher-income future career as a fully licensed physician.