Income as a resident

[react]

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Do I loose a significant money by doing a residency outside the military (If I get civilian deferral)..Comparing military resident income vs. civilian resident income
If I get deferment- is it for full residency or only for internship?. I am applying rad deferral.
Thank you

 

[MTGas2B]

Branch dependent. I can speak for Navy.

If you defer you apply for either a full deferment or a one year deferment or you'll just get a one year deferment without applying for one. I would not recommend one year deferment. If you don't get a military spot you may get a one year deferment.

Yes, you will make less money. You'll make the same thing as every other civilian resident in your program. An intern here in San Diego would make about $70k per year. BAH (housing allowance) is pretty high here though. That will change with your location.

There's pluses and minuses to both.
Pluses: no GMO; more options for residency; won't add more time commitment; your years in residency while deferred do count for pay and promotion
Minuses: Full deferment means less money, your residency years don't count towards retirement

I had a full deferment, then extended it for fellowship. I wouldn't chose one over the other based on the money you'll make in residency. The only money issue I would consider is that you thought you were going to retire you might as well start the clock on retirement by doing military residency.

 

[Perrotfish]

Branch dependent. I can speak for Navy.

If you defer you apply for either a full deferment or a one year deferment or you'll just get a one year deferment without applying for one. I would not recommend one year deferment. If you don't get a military spot you may get a one year deferment.

Yes, you will make less money. You'll make the same thing as every other civilian resident in your program. An intern here in San Diego would make about $70k per year. BAH (housing allowance) is pretty high here though. That will change with your location.

There's pluses and minuses to both.
Pluses: no GMO; more options for residency; won't add more time commitment; your years in residency while deferred do count for pay and promotion
Minuses: Full deferment means less money, your residency years don't count towards retirement

I had a full deferment, then extended it for fellowship. I wouldn't chose one over the other based on the money you'll make in residency. The only money issue I would consider is that you thought you were going to retire you might as well start the clock on retirement by doing military residency.

Also, a big chunk of that 70K is BAS and BAH, which is untaxable. And everything that's left is taxed at a much lower income bracket. It's like a civilian make 80 or 90K.

I've never understood why everyone acts like this is a non-issue. Unless you're not planning on having a family until after residency, you're going into a higher paying specialty, and you're planning to get out after your commitment is up an extra 150K seems pretty significant to me. That's a modest home/two college funds/a decade of alimony.

 

[EMDoc0411]

I got a full deferment. Best thing that ever happened to me. Obviously, I made less as a resident in a civilian program (3 yr.), but I was able to moonlight and made an extra 30k my second year and an extra 60k my last year. The military residencies do not allow moonlighting.

In addition, in my specialty, emergency medicine, the residency program is a total of 4 years training in the military and only 3 civilian. That's one extra year that I can get out and earn a real salary of approx 300k on the civilian side.

I think it all equals out in the long run, so don't be too concerned about the financials when comparing military vs. civilian residency.

 

[Perrotfish]

I got a full deferment. Best thing that ever happened to me. Obviously, I made less as a resident in a civilian program (3 yr.), but I was able to moonlight and made an extra 30k my second year and an extra 60k my last year. The military residencies do not allow moonlighting.
.

The new ACGME rules say that moonlighting now counts against your 80 hour cap. For everyone except EM that's basically the end of moonlighting.

 

[EMDoc0411]

The new ACGME rules say that moonlighting now counts against your 80 hour cap. For everyone except EM that's basically the end of moonlighting.

Yeah...right.

 

[MTGas2B]

I got a full deferment. Best thing that ever happened to me. Obviously, I made less as a resident in a civilian program (3 yr.), but I was able to moonlight and made an extra 30k my second year and an extra 60k my last year. The military residencies do not allow moonlighting.

In addition, in my specialty, emergency medicine, the residency program is a total of 4 years training in the military and only 3 civilian. That's one extra year that I can get out and earn a real salary of approx 300k on the civilian side.

I think it all equals out in the long run, so don't be too concerned about the financials when comparing military vs. civilian residency.

Again, I second this. Don't let the financials dictate your choice. Residency is temporary.

 

[MTGas2B]

Also, a big chunk of that 70K is BAS and BAH, which is untaxable. And everything that's left is taxed at a much lower income bracket. It's like a civilian make 80 or 90K.

I've never understood why everyone acts like this is a non-issue. Unless you're not planning on having a family until after residency, you're going into a higher paying specialty, and you're planning to get out after your commitment is up an extra 150K seems pretty significant to me. That's a modest home/two college funds/a decade of alimony.

Its a non issue because if you moved your wife to Ft. BFE for residency vs. making less for a couple years and have a few more options for residency you may need the extra money for therapy, alimony, etc. 🙂

If you were comparing a military programs vs. your top civilian choices and you decided all things were equal, then the money could be a deciding factor. If you start letting money be the primary thing driving your job choices now I don't think you'll ever find job satisfaction, military or civilian.

 

[bluefinn28]

does the navy allow HPSP grads to defer to civilian derm residencies straight out of med school?

 

[Jet915]

does the navy allow HPSP grads to defer to civilian derm residencies straight out of med school?

You can try but it's highly unlikely for derm.

 

[csnitchl]

I have a question regarding this 70K per year that an intern in SD would make. I've heard this approximate number before, but when I added it up I got this:
Pay = 2745 x 12 = 32940
BAH = 1785 x 12 = 21420
BAS = 2676
Bonus = 1200

Total = 58,236 per year

Is there something I'm missing? Thanks.

 

[dwb8p]

Yeah, your calculation uses O1 pay. As an intern you are an O3 making 3730/mo base pay. Total comes out to around 70k.

 

[Slevin]

And what would my pay be around if I had 4 years prior service?

 

[dwb8p]

4,883.40/mo base pay - http://usmilitary.about.com/od/fy2010paycharts/a/basicpayoff.htm

 

[csnitchl]

Wow, I'm an idiot. Thanks.

 

[Fabio001]

Does one accumulate years of service during the time spent as a resident, so by the time you finish up a 4 year residency you'd be making alot more than you were your first year? And... after step 3 do you start getting Board Certified pay?

 

[dwb8p]

Does one accumulate years of service during the time spent as a resident, so by the time you finish up a 4 year residency you'd be making alot more than you were your first year? And... after step 3 do you start getting Board Certified pay?

Yes you accumulate time in service towards pay and retirement as a resident. No, you don't get Board Certification Pay until after you complete your residency (minimum 3 years).