do residents get paid?

[krazykat]

this may sound like a dumb question , but i was wondering once you become a resident do you get paid while doing your residency? I would think after 4 long years of med school
you would finally be able to make some money.
if anyone can tell me i would appreciate some info, thanks.

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[Mango]

The answer is yes, but its pathetic. National averages are always right around $35,000, and you usually get a small raise each consecutive year. The reason I say that it's pathetic is because interns/residents work so many hours per week, that $35K ends up being about $6 an hour. I made more than that as a nurse's aid!

And don't forget, most of that money will be going toward paying down student loans. Oh well, it's a living, and it's better than nothing!

 

[Djanaba]

...but your salary will rise considerably upon completion of said residency. And some programs are better than others in terms of hours worked per week and base salary... important things to check on when trying to find a residency!!!

 

[MikeS 78]

you dont want to make too much money because if you make over about 40 grand you make too much money to

 

[MikeS 78]

doh posted too early

anyways if you make too much money you cannot get your loans deferred and interest starts to accumulate/payments start to come due

If like most med students you have about 100 K or so in loans, you have to pay interest on your loans which will end up being about as much as the extra money you earn from making 40 grand as opposed to 35 grand

 

[rtk]

Keep in mind that after you've completed one year of post-grad training you can get your permanent liscense and start moon-lighting... This is true in most states, not Illinois, however (takes two years there). This will significantly boost your income by about $70-100 per hour for 12 to 24 hour shifts.

It's a little scary at first; i.e: being in a remote ER in the sticks with a 26 week IUP in active labor... and no other docs within a 25 mile radius.

 

[aprilschild]

Well, guess what....In Russia residents actually have to pay themselves....from $6-20000 a year))

 

[QuinnB]

Many residents average minimum wage (7-8 dollars an hour when all work is considered).

 

[colbgw02]

Well, guess what....In Russia residents actually have to pay themselves....from $6-20000 a year))

I don't think there are many people folks on here that are old enough to get this.

 

[AmoryBlaine]

I can't speak for all fields but I know that in some where overall work hours are pretty light you can make a killing moonlighting. I've heard stories of psych and derm residents doubling their income. Can't speak to others.

 

[premedprepa]

Keep in mind that after you've completed one year of post-grad training you can get your permanent liscense and start moon-lighting... This is true in most states, not Illinois, however (takes two years there). This will significantly boost your income by about $70-100 per hour for 12 to 24 hour shifts.

It's a little scary at first; i.e: being in a remote ER in the sticks with a 26 week IUP in active labor... and no other docs within a 25 mile radius.

so you can become licensed in first year of residency and then outside places will hire you even as a first year resident? don't they want to see you completed your three+ years residency before hiring you to moonlight?

 

[DivineInterventionPod]

so you can become licensed in first year of residency and then outside places will hire you even as a first year resident? don't they want to see you completed your three+ years residency before hiring you to moonlight?

Moonlighting is usually done within the program you're a resident with. Not all programs allow moonlighting but some do as early as your PGY1 year. In general, you need to have passed Step 3 to have the ability to moonlight (as it is required for physician licensure most if not all of the time).

 

[Perrotfish]

so you can become licensed in first year of residency and then outside places will hire you even as a first year resident? don't they want to see you completed your three+ years residency before hiring you to moonlight?

1) Yes, there are urgent cares that will take someone with just an Intern year. Also some rural clinics and ERs

2) You need an independent license to moonlight. Some states will license you after Intern year, others only after two years of residency.

3) Moonlighting counts towards your work hours, which means you need the kind of residency that stays well under the 80 hour limit to moonlight. Moonlighting was definitely not compatible with the work hours at my residency.

 

[Shinken]

so you can become licensed in first year of residency and then outside places will hire you even as a first year resident?

Absolutely. I moonlit (moonlighted?) at an Urgent Care after my first year of residency.

 

[ortnakas]

Seven year necrobump and eleven year necrobump in the same thread. New record?

 

[Oso]

Seven year necrobump and eleven year necrobump in the same thread. New record?

I guess the question of whether residents actually make money will always seem like a relevant concern

 

[CherryRedDracul]

At least in radiology, some programs have ample moonlighting opportunities such that residents can break into the six figures. I've heard of one resident making $150,000 gross pay for the year.

 

[SpartanWolverine]

I guess the question of whether residents actually make money will always seem like a relevant concern

Sadly while adjusted for inflation the salary from 2000 holds pretty steady if not a bit bitter ($35k in 2000 is ~$50k today; most residencies start around $55k) the median debt of $90k then ($132k today) is now >$192k.

 

[Oso]

Sadly while adjusted for inflation the salary from 2000 holds pretty steady if not a bit bitter ($35k in 2000 is ~$50k today; most residencies start around $55k) the median debt of $90k then ($132k today) is now >$192k.

****.

 

[summerempress]

you do, and the amount depends on location...