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?