Resident Salaries

[jon_jon]

Besides FREIDA, does anyone know of any other resources that lists resident salaries for each hospital/program? Does ACGME publish this information annually?

It's interesting to note that salaries vary quite considerably even within the same city or metropolitan area.

Does anyone know of any hospital having different salary scales within the same hospital for different residency programs?

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[doc05]

many residency program websites list the information. just be sure it's current. some places haven't updated their websites in several years.

 

[jon_jon]

Yeah, some websites have info that are several years old and they don't seem to update it. You would think there would be a place that has the latest info somewhere besides freida.

 

[ckent]

The programs whose salary listings that i have checked out on the web (which haven't been that many) seem to indicate that salary is PGY dependent and not specialty dependent. I suspect that this has to do with medicare reimbursement of training hospitals. The higher level of PGY you get, the more you get paid. I have noticed that different programs offer different specialties different benefits, like a wealthy department (derm, rads) may offer palm pilots, more educational funds, and other fringe benefits (nicer call rooms) while poorer programs (like psych) have less in terms of fringe benefits.

 

[Jim Picotte]

I've never seen a hospital (although I'm sure they exist) that gives different levels of salary based on specialty. It's usually based on PGY year and only that. So those surgeons working the 80+ hour weeks will get paid the same as everyone else if they're in the same post grad year.

I'll give you our salaries at our institution right now though:

PGY-1 about $40,600
PGY-2 is $42,500
PGY-3 is $44,500

I don't remember the other levels right now. Also we usually (at least they have the last few years) adjust the salary in January for inflation which is usually 2% on top of what I listed (this adjustment doesn't go into effect until July 1st however). This isn't guaranteed of course and I think a lot of programs do this as well. You'll find most Michigan programs are within the salary levels I listed above by about $1,000 a year.

 

[klinzou]

Do you have to start paying back loans on those salaries? Or do you wait until you starting makin bank?

 

[ckyuen]

You may be able to qualify for financial hardship and defer your loans, your unsub loans accumulate interest and your sub loans do not. However, thanks to Bush, you can deduct interest on your loans up to 2500 a year provided your earn less than 60k i believe for single filers and 100k if married. These are above the line meaning you dont have to itemize. When you're an attending you will make more than these limits so you wont be elligible for the deductions. My advice is to consolidate and lock in the low interest rates currently available, as well as your grace period lower interest rate and try to pay back your loans over 30 years. The rates are so low at this time if you invest your money historically you will beat about the 3% rates of your loans. You can always delay paying back your loans during residency, but you may be accumulating interest, and when you graduate you will not qualify for the tax deduction.

 

[womansurg]

I think that you will find that resident salaries are roughly equal by discipline.

What will TRULY make a difference for you and your family won't be an extra 5K per year but rather the following:

free food. Think about it. If you are eating every breakfast, lunch and oftentimes dinner in the hospital - which, because of your schedule you are forced to - think how quickly $4 or more per meal at the hospital cafeteria is going to cut into your takehome pay. The better programs also let your family eat for free at the hospital cafeteria.

assisted living. Some programs, usually primary care, have apartments or condos set up for the residents, which are free or nearly so.

permission to moonlight. One weekend per month at the local ED or nursing home will DOUBLE your annual salary.

Good luck.

 

[Stinky Tofu]

2003-2004 Salary for Partners Residents (MGH, BWH, SRH, etc.):

PGY-1: $43,685
PGY-2: $45,649
PGY-3: $47,805
PGY-4: $50,677
PGY-5: $54,165
PGY-6: $56,818
PGY-7: $60,358

 

[ckyuen]

wow those are some high salaries, we get 38000 as a pgy 3, though cost of living is extremely low here

 

[DrQuinn]

I think here at USF we get 37.6 or so for PGY-1, but we don't have state income tax so that makes it a bit higher than some states.

Q, DO

 

[tofurious]

Among schools in the same city, sometimes there is a sizeable difference in pay. For example, this is what NYU pays:

I $47,357
II $49,260
III $53,330
IV $54,752
V $56,307
VI $57,606
VII $60,195
VIII $61,490

And this is what Columbia pays:
PGY-2: $45,661
PGY-3: $48,976
PGY-4: $50,656
PGY-5: $52,956
PGY-6: $54,659
PGY-7: $56,073

So there is a $4000 difference. Granted, there may be hidden perks but $4000 is quite some difference.