Surviving on a Resident's Salary

This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.

BLADEMDA

Full Member
Lifetime Donor
15+ Year Member
Joined
Apr 22, 2007
Messages
22,315
Reaction score
8,964
With the cost of housing surging the past 2 years I was wondering how some of you are holding up on a resident's salary. Housing costs have skyrocketed and the cost of food, gas, etc has all increased dramatically while your pay is pretty much the same.

Are any of you having to borrow money to pay expenses? Does your program offer in-house moonlighting? Are you sharing an apartment or house with others?

My colleague is still supporting his PGY-1 kid with a housing stipend of $1200 per month. The "kid" has asked for an increase to $1400 per month for expenses to help cover the PGY-2 year. How common is this scenario?

Please excuse my ignorance on this topic as I am showing my age as it regards this subject matter.

Members don't see this ad.
 
  • Like
  • Wow
Reactions: 1 users
I am seeing that a typical salary for PGY1-PGY-3 is in the $50,000-$60,000 range. That likely means a take home pay of around $3600-$4,000 per month.

2021-2022 Salary​

  • PGY 1: $54,024
  • PGY 2: $55,860
  • PGY 3: $58,281
Housing costs could easily consume 1/2 your take home pay or more.
 
  • Like
Reactions: 1 users
Members don't see this ad :)
You get room mates and eat ramen, you make it work. Asking mommy and daddy for an allowance as an adult is damn embarassing. Plenty of people (yes even in Boston) manage to live there on that salary. They probably have worse benefits and no access to free snack foods like hospital workers too
 
  • Like
Reactions: 13 users
What? SDN financial guru recommends Roth IRA for residents. You are talking about parental support?

Eat McDonald, sleep in basement, no gf, wear scrubs, take public transportation....
 
  • Like
Reactions: 4 users
Get a roommate. Move out to suburbs or a bit Sketchy part of town.
Don’t contribute to retirement
Rent a room and not an apartment
Sell your fancy car
Get a Costco card
 
  • Like
Reactions: 1 user
I am a rising CA3, next year salary is close to 70k in a MCOL area and I am doing just fine.

I am able to fund my ROTH IRA yearly and save some change in 403B. My program has inhouse moonlighting opportunities that pay $60-100/hr. I take 1-2 vacations yearly with moonlighting money and live quite comfortably on what I am making right now. As far as I know, no other residents that I know have this kind of parental support, many of which have family with stay-at-home spouse and kids and they are doing just fine.

I CANNOT fathom asking for handouts from my parents as a grown adult. Maybe that's why some people need 20M to retire :sick:. Must be living the attending life already...

I do pick up a few shifts of moonlighting a month but that's mostly for extra vacation and saving money
 
  • Like
Reactions: 3 users
Unless the resident has a family to feed, it is totally doable to get by with resident salary - even in Boston or NYC. The biggest expense by far is going to be housing. Don't live in the luxury 1 bedroom apartment. Split a 2 bedroom apartment with a roommate. Don't live in a nice fancy apartment. Live in an apartment without washer and dryer in-unit. Cut down on eating out fancy meals.
 
  • Like
Reactions: 1 users
You make it work. Live in not the nicest area or nicest building, get a roommate, etc. Most residencies in HCOL cities pay a bit more. Looking at the medium American income, this is a non issue and your colleague's kid is taking mom or dad for a ride.
 
  • Like
Reactions: 1 user
I am a rising CA3, next year salary is close to 70k in a MCOL area and I am doing just fine.

I am able to fund my ROTH IRA yearly and save some change in 403B. My program has inhouse moonlighting opportunities that pay $60-100/hr. I take 1-2 vacations yearly with moonlighting money and live quite comfortably on what I am making right now. As far as I know, no other residents that I know have this kind of parental support, many of which have family with stay-at-home spouse and kids and they are doing just fine.

I CANNOT fathom asking for handouts from my parents as a grown adult. Maybe that's why some people need 20M to retire :sick:. Must be living the attending life already...

I do pick up a few shifts of moonlighting a month but that's mostly for extra vacation and saving money
My colleague told me that his kid's program doesn't offer moonlighting so that was the reason for the stipend. How common is moonlighting availability after the PGY-2 year? I assume by PGY-3 the resident could just moonlight to make the extra $1400? I really do understand NOT asking for handouts post medical school but I bet this scenario may become more common soon because of the massive increase in housing costs.

I also suspect renting a very nice apartment without any roommates is the reason for the stipend. Rent can exceed $2500 per month pretty easily in some cities.
 
Members don't see this ad :)
You make it work. Live in not the nicest area or nicest building, get a roommate, etc. Most residencies in HCOL cities pay a bit more. Looking at the medium American income, this is a non issue and your colleague's kid is taking mom or dad for a ride.
This is a non-issue? Housing costs are way, way up and none of you are noticing it? I agree about getting a rommmate but I am seeing rent explode in many cities in my state.
 
This is a non-issue? Housing costs are way, way up and none of you are noticing it? I agree about getting a rommmate but I am seeing rent explode in many cities in my state.
Go on craigslist Boston housing and set the filter to 1200/month. I got 139 results. Reading about how inflation is going to make suicide the only viable option to continue living doesn't mesh with reality. There is affordable housing options if one is willing to compromise.

I commuted to medical school 45 minutes each way in order to live so where affordable. Most of my classmates had mommy buy them a condo or apartment that cost 3x as much/month next to school.
 
  • Like
Reactions: 2 users
When I was in training in the last century, programs in HCOL offered subsidized housing for house staff and medical students.
 
  • Like
Reactions: 1 user
My colleague told me that his kid's program doesn't offer moonlighting so that was the reason for the stipend. How common is moonlighting availability after the PGY-2 year? I assume by PGY-3 the resident could just moonlight to make the extra $1400? I really do understand NOT asking for handouts post medical school but I bet this scenario may become more common soon because of the massive increase in housing costs.

I also suspect renting a very nice apartment without any roommates is the reason for the stipend. Rent can exceed $2500 per month pretty easily in some cities.
Many of my coresidents don't moonlight at all because they want to spend their free time on their hobbies or with family and they are doing OK. I am a little too far removed from the residency interviewing process but I think only about 50% of programs offer any sort of moonlighting at all. My program allows moonlighting in the main OR as soon as you are ready to be staffing the room by yourself i.e. late August, early September CA1

Half of the year, I am not moonlighting at all when I am on more hour-intensive rotations such as Heart, Peds, ICU, OB. The moonlighting money is mostly for fun- vacation, occasional expensive dining, daytrips, buying stocks etc. It has no effect on my living budget.

But like the other poster said, I do live in an older apartment sharing washer and dryer with other tenants, no roommates, buy groceries from Walmart and Aldi
Maybe why those Cali residents are forming unions…
I am not in a union and I do get hit with the sunshine tax
 
That guy is just a man-child, to be frank. I'm a med student in what I consider to be a relatively HCOL area (although not Boston high) and get less than 1/2 that to live on.

I looked it up and BU students get a little more than me but still< $25k.
 
  • Like
Reactions: 1 users
You would not be able to live in a nice part of Boston alone on a resident salary unless you had cash flow from other investments (ie dividends). A decent apartment is like 3000 per. Only affordable places in New England are Maine, NH, VT. I guess one could live in a less desirable area of the city, but it’s usually frat houses with 10 residents, rats, roaches etc.

This is why people without trust funds, high income spouse, or investments should concentrate on midwest or southeast. In Midwest, I get a place in downtown for 2000 per. In New England or California, the place would be 4000 per.
 
Last edited:
  • Like
Reactions: 1 user
AS a PG-1 in The Dark Ages, our rent in crappy student housing on the east coast required 30% of my gross income when my wife was an MS-2. We made it work. Participated in studies and paid research. Nicked food from noon conferences, ( not sure if that is still a thing), my Chief wanted us to attend local specialty society meetings, which entailed free food for residents, ( nicked left overs from there), and other savings techniques. Never applied for food stamps, or any assistance. Rarely ate out, but would save up for it if we did. Our parents figured we were married and would figure it out, which we did. Housing may take more of a bite out of residents salary now, but they should be able to adjust, except HCOL areas may need some creative thinking.
 
Go on craigslist Boston housing and set the filter to 1200/month. I got 139 results.
If you looked at these places in person, it would probably be a much different story.some would be straight up scams (ie pay deposit and never see it again). Others would be much more dirty in person.
 
i think thats one factor residents can consider. does the program pay okay to survive without taking out more loans. does the program subsidize housing? obviously everyone has their own situations. you can have the single parent resident with 3 kids, or the married with no kids with partner making good $$.

but anyway i trained in NYC and i think the resident salary is fine TBH. when I was a resident, my first year salary was a bit over 50k. today, pgy1 are making 70s. there are still opportunities for more pay with 'moonlighting' or taking extra shifts.

i heard some anesthesiology residents in NYC make well over 100k total comp if you include moonlighting/extra hours

1655071576836.png
 
  • Like
Reactions: 1 user
also forgot to mention even with my lower salary back in teh day compared to now. i was able to save and pay off some student loans every year. i lived like a resident, didnt travel. had a house mate, in subsidized housing from the hospital

my PGY4 salary back then was like 65 or 67k i believe. Now it's around 90k!!. huge difference
 
  • Like
Reactions: 1 user
This is what 2000 would get you in Boston. I don’t think I have particularly high taste/standards but it looks grim to say the least. Keep in mind these are likely cherry-picked photos to make the apartments look as nice as possible




 
Last edited:
  • Like
Reactions: 1 user
If you looked at these places in person, it would probably be a much different story.some would be straight up scams (ie pay deposit and never see it again). Others would be much more dirty in person.
Sure, and some of them won't be. Most people don't get to choose between living somewhere they'd rather not and asking mom and dad for extra money so they can live in a nice place they can't pay for.
 
  • Like
Reactions: 2 users
Sure, and some of them won't be. Most people don't get to choose between living somewhere they'd rather not and asking mom and dad for extra money so they can live in a nice place they can't pay for.

will prob continue post residency. everything you buy gets more expensive once you become an attending. i can see the attending still asking parents for a supplement
 
  • Like
Reactions: 1 users
This is what 2000 would get you in Boston. I don’t think I have particularly high taste/standards but it looks grim to say the least. Keep in mind these are likely cherry-picked photos to make the apartments look as nice as possible





You going to tell me all of these are scams? Living with 3 other people might suck but it makes things affordable.
 
  • Like
Reactions: 1 users
This is what 2000 would get you in Boston. I don’t think I have particularly high taste/standards but it looks grim to say the least. Keep in mind these are likely cherry-picked photos to make the apartments look as nice as possible






I’ve lived in worse.

Edit: I’ve lived in very similar apartments. But I was paying $600, not $2k. I was also making $29k at the time as an intern.
 
  • Like
Reactions: 1 users
This is what 2000 would get you in Boston. I don’t think I have particularly high taste/standards but it looks grim to say the least. Keep in mind these are likely cherry-picked photos to make the apartments look as nice as possible




I’m in a MCOL area on ~$60k salary. I have a roommate. I live in the suburbs with a roommate. My area isn’t fancy, but it isn’t too shady either. Those apartments look about like mine, maybe a bit nicer than mine. My rent, parking, and utilities add up to about $700-800 per month. No moonlighting.
 
  • Like
Reactions: 1 user
This is a non-issue? Housing costs are way, way up and none of you are noticing it? I agree about getting a rommmate but I am seeing rent explode in many cities in my state.
In those expensive cities, PGY-1 salary is $65-70k. That's $4000/month after taxes. Spend $2000 on rent, and $2000 on living expense. That is totally doable in Boston. It won't be the nicest apartments, but it will be decent enough. NYC rent is a bit more, but many programs in NYC have subsidized housing, and the PGY-1 salary is higher.

If a single resident is struggling to live on a resident salary, I guarantee you, that is because the resident is living way above his/her means.
 
  • Like
Reactions: 4 users
I like how the solution to increased housing prices is to choose to live in squalor during arguably the most difficult and time intensive portion of your career, or live with roommates who may/may not blast music while you are recovering from call. Not to mention gas is now $5 a gallon, so living 30 miles out in the boonies is not a smart option. Residency salaries need to increase, at the very least to keep up with inflation.
 
  • Like
Reactions: 2 users
I like how the solution to increased housing prices is to choose to live in squalor during arguably the most difficult and time intensive portion of your career, or live with roommates who may/may not blast music while you are recovering from call. Not to mention gas is now $5 a gallon, so living 30 miles out in the boonies is not a smart option. Residency salaries need to increase, at the very least to keep up with inflation.
I see what you are saying and I am all for it but if a single person cannot survive on residency salary without parental support, that person has a spending problem and needs some lifestyle adjustment
 
  • Like
Reactions: 4 users
In those expensive cities, PGY-1 salary is $65-70k. That's $4000/month after taxes. Spend $2000 on rent, and $2000 on living expense. That is totally doable in Boston. It won't be the nicest apartments, but it will be decent enough. NYC rent is a bit more, but many programs in NYC have subsidized housing, and the PGY-1 salary is higher.

If a single resident is struggling to live on a resident salary, I guarantee you, that is because the resident is living way above his/her means.

This was pretty much my experience in NYC during residency. I lived with roommates and one paycheck went to rent while the other went to living expenses. I saved very little and used credit card points for vacations. Then I did fellowship in a LCOL area and lived like a king, but perpetually bored out of my mind when not working.
 
  • Like
Reactions: 1 users
This is what 2000 would get you in Boston. I don’t think I have particularly high taste/standards but it looks grim to say the least. Keep in mind these are likely cherry-picked photos to make the apartments look as nice as possible




These don't look too bad. My apartment in medical school looked like some of these. That's what you get for living in old, downtown, urban area. Spend some time furnishing the inside, get some decent furnitures, it will look liveable. Most young adults in America live like this.
 
  • Like
Reactions: 1 user
I think it’s even crazier that so many applicants still flock to Boston, NYC, SF for residency. Why not just wait until attending to move to these places. Granted, some of the best hospitals are in these areas. But is somebody who does IM at Barnes-Jewish really at a significant disadvantage to somebody who does it at BWH (for fellowship match)?
 
I totally understand. I started out wiping butts and working overnight shifts while playing division 2 football. No disrespect but yall are not hungry enough. I was happy getting a lunch and a salary that I didn’t have to wipe someones butts for. What are you willing to sacrifice to secure the bag? Residency is tough difficult exhausting and every day I am grateful for those hours put in. Because what they taught me separates me from 99% of folks in society biweekly….. Get over it grind…. And SECURE the bag…..
 
  • Like
Reactions: 11 users
I like how the solution to increased housing prices is to choose to live in squalor during arguably the most difficult and time intensive portion of your career, or live with roommates who may/may not blast music while you are recovering from call. Not to mention gas is now $5 a gallon, so living 30 miles out in the boonies is not a smart option. Residency salaries need to increase, at the very least to keep up with inflation.


It’s easy to live in squalor when you’re hardly ever home.
 
  • Like
Reactions: 4 users
Playing devils advocate here. I do not take any money from my parents but dont see it as a huge issue if someone did. Residency is tough. If an extra 1000-1500 helps my kid live where he wants to and live more comfortably then im all for it. The kid is obviously successful and is going to be able to support himself. We all agree residency is a scam and we deserve more. If im out here making attending money and had the means i would help out my own kid.
 
  • Like
Reactions: 4 users
I finished training before the crazy housing market started; however I did train in a very high COL area and was the sole provider for my wife and children.

We have 5 children so my wife working and using daycare was not a realistic financial option.

At the time my rent was well over half my monthly take home. It was a real struggle but we made it work. I’m not sure it would even be possible in todays market.

Who cares what people think. I would’ve gladly taken out a loan from wealthy relatives if my wife or myself had any.
 
  • Like
  • Wow
Reactions: 1 users
This is a non-issue? Housing costs are way, way up and none of you are noticing it? I agree about getting a rommmate but I am seeing rent explode in many cities in my state.
It's not easy but very doable. Now if you have kids, a non working spouse and other circumstances like that, it can be very difficult these days.
 
  • Like
Reactions: 1 user
i think it’s fine unless the kid doesn’t pay the parent back later (ie sends the parent into a nursing home against the parent’s wishes and best interest)
 
i think it’s fine unless the kid doesn’t pay the parent back later (ie sends the parent into a nursing home against the parent’s wishes and best interest)


Depends on the nursing home. Some are super nice but they make NYC rents look cheap.
 
  • Like
Reactions: 1 users
I finished training before the crazy housing market started; however I did train in a very high COL area and was the sole provider for my wife and children.

We have 5 children so my wife working and using daycare was not a realistic financial option.

At the time my rent was well over half my monthly take home. It was a real struggle but we made it work. I’m not sure it would even be possible in todays market.

Who cares what people think. I would’ve gladly taken out a loan from wealthy relatives if my wife or myself had any.

Wow! Did you have 5 kids in residency? Busy man and even busier wife.
 
I did residency in a vhcol city not that long ago.

It’s expensive but you make do. I will say that a lot of Craigslist in these cities at the lower price points are scams in that the realtor doesn’t actually have that unit (or maybe never did). “Oh it just leased. I have these other ones but they are a bit more…” happened to me countless times over the 10 years I was there.

However, at least some of the programs have significantly upped the pay in the past year. I made 86k base as a non acgme pgy6; looks like that’s now paying 95k where I was. I moonlighted literally up until duty hours limit for my specialty (rads) so that’s how I survived and was able to save something.
 
  • Like
Reactions: 1 user
buy groceries from Walmart and Aldi
I'm out in practice (not anesthesia) but I still happily go to Aldis. Some of their on sale produce is pretty good. I just got 3 seedless watermelons for $2.79/each.

They have pretty good nuts too.

My colleague is still supporting his PGY-1 kid with a housing stipend of $1200 per month. The "kid" has asked for an increase to $1400 per month for expenses to help cover the PGY-2 year. How common is this scenario?

Please excuse my ignorance on this topic as I am showing my age as it regards this subject matter.

If they have the money to help out, I don't think it's a big deal.

The PGY1 is obviously smart/successful. Why not make their life a bit easier? Not like they are sitting in the couch playing video games until 3am.

My parents helped me out with finances in medical school and helped out with a down payment on my house a few years back. It helped out a bunch and has allowed me to continue to get ahead financially.

I will do the same for my kids as well.
 
  • Like
Reactions: 4 users
I paid off my uni loans last year and get paid $150,000/year and work 40 hour weeks with no call. Residency is just fine.

... I feel so bad for you residents over there. Sounds terrible.
 
  • Like
Reactions: 1 users
I paid off my uni loans last year and get paid $150,000/year and work 40 hour weeks with no call. Residency is just fine.

... I feel so bad for you residents over there. Sounds terrible.
Meh, with the current exchange rate and a not huge amount of moonlighting I made more than that as a resident 10 years ago.

I'd love y'all's low school debt but we make a good bit more over here so it balances out.
 
I made it on 34/35/36k a year in a major top 5 city with high housing cost 20 years ago. It’s doable. Get a roommate. We worked 120 hours in icu as well q2 and q3 36 hour shifts (depending if anyone was on vacation). Worked 70-85 hours in Or

Rent was $1800/month Back than for a “nice” 2 bedroom apt in the city. I chose a average 2 bedroom apt for $1400 and got a roommate. Honestly those were fun times we still had money to go out. We worked hard. Played hard.

This current group of gen z/Millenials are simply weak. I’m sorry to say that. Even my good ortho buddy who’s similar age as me hired a new ortho spine millennial doc for his private practice. And the new ortho spine doc is annoyed he has to even 3 days of beeper call (all weekday) . And my buddy who is the owner is taking 15 days of calls.

Many American families live off of much less than 60k or whatever residency is paying in 2022. I lived off almost half.

Poverty is defined as around 11-14k for one person and 45-48k for family of four (Obamacare rules limiting subsidy to 400% of poverty) give or take.

Yes if ur parents can help out. Than that’s a luxury. But many people born after or around 1982 simply do not know what real residency is all about

They changed the work hours right around 2004. Obviously some programs still fudge the numbers. But it’s extremely rare to have any anesthesia residency program hit 120 hours in icu. Do it kids for 8-16 weeks. You will find out you won’t be spending any money at all cause you are busy working.
 
  • Like
  • Haha
Reactions: 2 users
I made it on 34/35/36k a year in a major top 5 city with high housing cost 20 years ago. It’s doable. Get a roommate. We worked 120 hours in icu as well q2 and q3 36 hour shifts (depending if anyone was on vacation). Worked 70-85 hours in Or

Rent was $1800/month Back than for a “nice” 2 bedroom apt in the city. I chose a average 2 bedroom apt for $1400 and got a roommate. Honestly those were fun times we still had money to go out. We worked hard. Played hard.

This current group of gen z/Millenials are simply weak. I’m sorry to say that. Even my good ortho buddy who’s similar age as me hired a new ortho spine millennial doc for his private practice. And the new ortho spine doc is annoyed he has to even 3 days of beeper call (all weekday) . And my buddy who is the owner is taking 15 days of calls.

Many American families live off of much less than 60k or whatever residency is paying in 2022. I lived off almost half.

Poverty is defined as around 11-14k for one person and 45-48k for family of four (Obamacare rules limiting subsidy to 400% of poverty) give or take.

Yes if ur parents can help out. Than that’s a luxury. But many people born after or around 1982 simply do not know what real residency is all about

They changed the work hours right around 2004. Obviously some programs still fudge the numbers. But it’s extremely rare to have any anesthesia residency program hit 120 hours in icu. Do it kids for 8-16 weeks. You will find out you won’t be spending any money at all cause you are busy working.
Where was housing 1800 a month in 2002? That is like 3200 in today’s dollars.
 
Top