Residents Salary & Debt Report 2016

[sozme]

Stolen from reddit. Discuss below.

Residents Salary & Debt Report 2016 (MEDSCAPE)

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[Taddy Mason]

I'd bet the amount I have in debt from student loans that the 3% on slide 16 is comprised largely of regular posters on the SDN Allo forum.

 

[egerdts13]

How do some (11%) of residents get away with less than 30 hours a week in the hospital?!


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[Taddy Mason]

How do some (11%) of residents get away with less than 30 hours a week in the hospital?!


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Are you new to MedScape "reports"?

 

[kenjixshadow]

"Residents are used as the slave labor force in academic medicine."

 

[Donald Juan]

I like how they constantly talk about how fellowship positions that would inherently be PGY4-7 are more compensated, as if it is a preference to the specialty.

 

[psychMDhopefully]

That salary by gender slide is so useless.

 

[bannie22]

Why do men make more than women? I did not know there was discrimination even amongst slaves.

Wow. There are many ignorant slaves who do not look over their contracts and actually believe they get paid time off!

Which institutions are these giving health insurance? I need to find myself one!

 

[Smurfette]

Why do men make more than women? I did not know there was discrimination even amongst slaves.
Wow. There are many ignorant slaves who do not look over their contracts and actually believe they get paid time off!
Which institutions are these giving health insurance? I need to find myself one!

1. I am assuming that the women making less is due to there being more women in the primary care fields that are only 3 years...so it skews it a little lower because of a lower average PGY year and thus lower salary. The surgical specialties (GU, neurosurg, ortho, etc.) that have longer training tend to be more male dominant. Just a guess. Salaries are pretty much set by each institution so that all PGY1s at that institution make the same, all the PGY2s make a bit more, etc. etc.
2. It's pretty standard to get health insurance covered during training. I was more concerned about those in programs that DON'T offer it.

Regarding work hours, I was thinking (hoping?) that those reporting only 30 hours/week might be residents doing a lab year.

 

[distressstudent]

Can someone explain to me how 22% have no debt?

Military scholarship and NHSC scholarships would add to that number. But there are about 19k graduates a year. There's no way there are that many scholarships right?

 

[giantswing]

Can someone explain to me how 22% have no debt?

Military scholarship and NHSC scholarships would add to that number. But there are about 19k graduates a year. There's no way there are that many scholarships right?

Mom and dad.

 

[Taddy Mason]

Can someone explain to me how 22% have no debt?

Military scholarship and NHSC scholarships would add to that number. But there are about 19k graduates a year. There's no way there are that many scholarships right?

Making the most out of that CN IX and XII palsy.

 

[Donald Juan]

Can someone explain to me how 22% have no debt?

Military scholarship and NHSC scholarships would add to that number. But there are about 19k graduates a year. There's no way there are that many scholarships right?

I believe I've read before that 80% of medical students come from the top 20% of family incomes...it would make sense that there are many students who have their parents that can pay for everything.

 

[qwerty89]

I believe I've read before that 80% of medical students come from the top 20% of family incomes...it would make sense that there are many students who have their parents that can pay for everything.

https://www.aamc.org/download/450608/data/msq2015report.pdf

Question 36

Median Parental Income is 120-125K
Almost 10% of med students come from households making 400K or more a year.
31.4% come from households making 200K or more.

Med students are rich. Most of those with parents paying for it are just quiet about it.

 

[DrZeke]

Excited to find out my pay is disgustingly below average ...now I feel better about living pay check to pay check.


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[qwerty89]

Excited to find out my pay is disgustingly below average ...now I feel better about living pay check to pay check.


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It also doesn't take into account moonlighting.

Radiology programs frequently have contrast coverage for 50-70 an hour to basically sit there.
Psych programs have high paying moonlighting as well. Usually Psych ER coverage.

 

[Psai]

Are these people serious? They're really trying to make up a gender gap? lmao medicare doesn't give a f if you're a man or a woman.

It's also funny that they stop the school debt at $200,000 when there are plenty of people with 300k and more.

 

[NWwildcat2013]

Are these people serious? They're really trying to make up a gender gap? lmao medicare doesn't give a f if you're a man or a woman.

It's also funny that they stop the school debt at $200,000 when there are plenty of people with 300k and more.

Yep. I don't live extravagantly and I have no undergrad debt but my costly med school and high COL geographic area is going to nudge me into the 300k category.

 

[bannie22]

1. I am assuming that the women making less is due to there being more women in the primary care fields that are only 3 years...so it skews it a little lower because of a lower average PGY year and thus lower salary. The surgical specialties (GU, neurosurg, ortho, etc.) that have longer training tend to be more male dominant. Just a guess. Salaries are pretty much set by each institution so that all PGY1s at that institution make the same, all the PGY2s make a bit more, etc. etc.
2. It's pretty standard to get health insurance covered during training. I was more concerned about those in programs that DON'T offer it.

Regarding work hours, I was thinking (hoping?) that those reporting only 30 hours/week might be residents doing a lab year.

It is misleading the way it was reported tho. Almost as if health insurance was provided. Whereas for most to all residents, health insurance still has to be paid for (not inclusive in salary)

 

[OnePunchBiopsy]

It's also funny that they stop the school debt at $200,000 when there are plenty of people with 300k and more.

 

[Raryn]

Can someone explain to me how 22% have no debt?

Military scholarship and NHSC scholarships would add to that number. But there are about 19k graduates a year. There's no way there are that many scholarships right?

Well-off families is the big explanation (as per the posters above).

In addition, don't forget foreign grads. Caribbean grads have oodles of debt, but there's a non-insignificant portion of foreign grads coming from government-subsidized med schools that might cost a tenth of what an American one would (or may even be free). Countries in Europe and Asia frequently subsidize the !@#$ out of their doctors (and then get bit if they don't stay).