Residents are doctors too.  But during their on-the-job training program we lovingly call Residency, their salaries are minimal compared to it’s future potential.

Take a look at the results for last year’s AAMC’s Survey of Resident/Fellow stipends:

Mean Resident Stipends Nationwide

• 1st year – $48,460
• 2nd year – 50,361
• 3rd year – $52,425
• 4th year – $54,451
• 5th year – 56,670

Mean 1st year Resident Stipends by Geographic Region

• Northeast – $50,885
• South – $46,293
• Midwest – $47,393
• West – $47,905

Mean Resident Stipends from the Past

• 2005 – $42,070
• 2000 – $35,728
• 1980 ( when i was born ) – $16,188
• 1968 ( the first residency? ) – $6,200

When you’re researching residencies, you oftentimes concentrate on the academics.  But don’t forget about the salaries, cost of living, and benefits.  Remember, after medical school, it’s time to pay back loans.  Some can defer your loans but others can’t and that can be an extra burden when you’re trying to heal people 80 hours a week.

For the complete statistics from last year’s residency stipends and benefits, access the PDF file for the AAMC survey here.

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