some questions about expenses

[ronaldo23]

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hey guys, got a couple ? about residency

i know salaries are around 40,000 but do most residents moonlight? if so, what on average woudl this add to your income?

and what is the breakdown of expenses? (rent, utilities, taxes, etc assuming no loans are payed back during these years) is there any money left over to put away?

 

[Blade28]

I'll speak from a General Surgery point of view...

Moonlighting, if at all, is typically done during your research years because that's when you actually have both the time and energy to work these shifts. Most programs don't allow moonlighting during your clinical years (especially since you're already working 80+ hours a week, and your performance will surely suffer if you work a couple extra 10-12 hour shifts on top of that).

You tend to make between $50-100 per hour. Depending on how many shifts you work a month, this can be quite a nice chunk of change.

Rent, utilities, etc. all depend on where you live. It's the same as in med school. And the same in college, if you've moved out of the on-campus dorms.

You're a college sophomore, right? Relax...you're worrying about things that are at least 10 years away.

Focus more on having a well-rounded education/experience in college. You're still 18 months away from the MCAT, and 5 years away from the USMLE Step 1. That's a LONG way away.

 

[jennyboo]

is there any money left over to put away?

This depends mainly on your budgeting and the average cost of living in the area where you work. Rent for one apartment some parts of the country can be $500/month, in other parts can be $2000/month per person. If your paycheck comes back around, say, $2800/month, and your rent is $2000/month, and you have car, car insurance, utilities, phone, pizzas or takeout because you don't have time to cook.... then at the end of the month, you have jack left over.

The answer to "Is there any money left over to put away?" is that it depends on you. If you want to put money away during residency, especially if you have a family as some residents do, you have to budget VERY carefully. It is easier if you're single to put money away, assuming your rent is not extremely high.