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How important is it to get a good residency after graduation?

If one completed a prestigious residency while someone else undergoes a low-ranked residency training, would their career paths, salaries, employment prospects, and reputations be remarkably different?

Also, suppose that you wanted to go into a competitive specialty like dermatology but don't get accepted into a single dermatology residency program. What do you afterwards? Do you simply try applying again or go into something else?
 

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I guess that all depends on where you practice and what you ultimately end-up doing. As I stated a while back, one of my friends was a successful Anesthesiologist who went to Tampico in Mexico to do his med school, and did residency at Maimonides (back in the early 1980's). He was well-resepected and made a ton of cash.

I think that derm is gonna be tough for any IMG, because it's so competitive. Not sure what you do if you don't get it first time you do NRMP. I guess you can do a transition year and hope to match next time around.

Anyone else know?

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