Is this real life?

[lazyindy]

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Whats up residents,

So today I was chatting with a resident who works in an NYC. She said she is in her last year of residency and brings home 90k after taxes and insurance. I immediately thought that it was BS because I've always thought that residents are paid max 50k/year. Where did she get the 90k from? is there a certain specialty which pays 90k during residency?

 

[michaelrack]

Whats up residents,

So today I was chatting with a resident who works in an NYC. She said she is in her last year of residency and brings home 90k after taxes and insurance. I immediately thought that it was BS because I've always thought that residents are paid max 50k/year. Where did she get the 90k from? is there a certain specialty which pays 90k during residency?

Probably the extra $ is from moonlighting (either internal or external)

 

[ThoracicGuy]

Whats up residents,

So today I was chatting with a resident who works in an NYC. She said she is in her last year of residency and brings home 90k after taxes and insurance. I immediately thought that it was BS because I've always thought that residents are paid max 50k/year. Where did she get the 90k from? is there a certain specialty which pays 90k during residency?

Google can answer such questions... For instance, NYU residents have the following salaries listed:

NYU BASE RATE (effective 1/1/11)

PGY 1 $59,488
PGY 2 $61,821
PGY 3 $66,487
PGY4 $68,685
PGY 5 $70,608
PYG 6 $72,390
PGY 7 $75,958
PGY 8 $77,483

Columbia gives:

Resident Level 1 $55,441.08
Resident Level 2 $58,333.80
Resident Level 3 $61,743.66
Resident Level 4 $63,648.00
Resident Level 5 $66,015.42
Resident Level 6 $69,035.64
Resident Level 7+ $71,243.94

I'm not sure where you came up with a $50k ceiling...

 

[lazyindy]

Google can answer such questions... For instance, NYU residents have the following salaries listed:

NYU BASE RATE (effective 1/1/11)

PGY 1 $59,488
PGY 2 $61,821
PGY 3 $66,487
PGY4 $68,685
PGY 5 $70,608
PYG 6 $72,390
PGY 7 $75,958
PGY 8 $77,483

Columbia gives:

Resident Level 1 $55,441.08
Resident Level 2 $58,333.80
Resident Level 3 $61,743.66
Resident Level 4 $63,648.00
Resident Level 5 $66,015.42
Resident Level 6 $69,035.64
Resident Level 7+ $71,243.94

I'm not sure where you came up with a $50k ceiling...

hmm then probably moonlighting. Also some people like to exaggerate incomes anyway.

I thought the ceiling was at 50k because that's what every discussion on SDN regarding residency being slave labor revolves around. You know the phrase : "work like a slave 80-90 hrs/week to only get paid 50k/year".

 

[gutonc]

hmm then probably moonlighting. Also some people like to exaggerate incomes anyway.

I thought the ceiling was at 50k because that's what every discussion on SDN regarding residency being slave labor revolves around. You know the phrase : "work like a slave 80-90 hrs/week to only get paid 50k/year".

2013 median resident salary per Medscape survey was $55,300.

 

[Law2Doc]

Outside of big cities many interns still start at salaries below $50k (eg $47k). This climbs above the quoted average in later years. In later years when you can moonlight, if you max out in some fields you could add another 20-40k. So the initial numbers sound very possible. The fact that she told you what she earns "after insurance" tells you some is moonlighting because residents otherwise don't pay for their own insurance.

 

[Raryn]

If you take moonlighting into account, it can really vary quite a lot. I knew of a psychiatry resident at my medical school that earned >$100,000 from moonlighting alone his fourth year. His schedule was so light (2/2 electives) that he picked up enough shifts to more than triple his salary. On the other hand, there's no such thing as a surgical resident with that much time, much less that many moonlighting opportunities.

 

[j4pac]

Quite honestly, even $90k in NYC is a joke of an income. I would strongly recommend take a look at cost of living calculators and NET income calculators. Net income of $90k in NYC is $60k. $60k in NYC is about $27k in Atlanta, GA.

If your gross income is $60k in NYC...your net income is $42k net, which is equivalent to about $18k net in Atlanta, GA. If you have a family and/or bills...you may be donating plasma on the weekends.

 

[Chicago2012]

I'm very disappointed this wasn't a post about Bohemian Rhapsody, but in all seriousness, I've lived off of practically nothing in the past. Everything else is cake