Medical residents’ salaries continue to climb in 2018

Medicine Money
Residents' salaries continued to increase in 2018. (Getty/utah778)

The average salary for medical residents continued to climb this year and, overall, is up about 7% over the last three years.

The average resident’s salary was $59,300 in 2018, up about 3.7% from $57,200 the previous year, according to a Medscape report.

The report included data from more than 1,900 residents in more than 29 specialties, all enrolled in U.S. residency programs. In 2015, the average salary was $55,400.


2019 Drug Pricing and Reimbursement Stakeholder Summit

Given federal and state pricing requirements arising, press releases from industry leading pharma companies, and the new Drug Transparency Act, it is important to stay ahead of news headlines and anticipated requirements in order to hit company profit targets, maintain value to patients and promote strong, multi-beneficial relationships with manufacturers, providers, payers, and all other stakeholders within the pricing landscape. This conference will provide a platform to encourage a dialogue among such stakeholders in the pricing and reimbursement space so that they can receive a current state of the union regarding regulatory changes while providing actionable insights in anticipation of the future.

The report, however, showed continued discrepancy among specialists.

The highest paid residents were in allergy and immunology specialties, where doctors earned an average $68,000. Among the lowest paid were public health and preventive medicine doctors, as well as those in family medicine, who both earned an average of $55,900.

In contrast to post-residency doctors, male and female residents earned similar salaries. The average for male residents was $59,600 and the average for female residents was $58,700.

Close to half the responding medical residents (45%) said they feel they are fairly compensated. Of the residents dissatisfied with their compensation, 82% said it was because their pay did not reflect the number of hours they worked. Over one-third of residents (37%) said they work over 60 hours per week seeing patients.

And it’s a mixed bag when it comes to medical school debt for residents. Almost one-quarter said they have no medical school debt, but the same percentage (23%) said they have debt that exceeds $300,000. Another 24% said they have debt from medical school in the $200,001-$300,000 range.

The survey asked residents about their future plans and whether they saw themselves as a partner/owner of a practice or as employed. Twenty-nine percent said they anticipate employment, but the same percentage said they were not sure about their future. Twenty-one percent of residents said they anticipate being a partner or practice owner.

Many job openings are for employed physicians, a survey released earlier this month by The Medicus Firm, a national physician search firm, concluded.

RELATED: Medical residents like limited shifts, but program directors prefer more flexibility

Suggested Articles

Inmediata Health Group, a healthcare clearinghouse, notified patients last month that their personal health data was potentially exposed due to a misconfigured…

Health insurers’ financial performance is on a continuing upward trend, but political and legal risks could pose a threat to that growth.

Senate lawmakers released a draft package of legislation aimed at curbing healthcare costs they believe they can pass on a bipartisan basis.