Back Survey: Medical Residency Salaries on the Rise

Survey: Medical Residency Salaries on the Rise

The new Medscape Residents Salary & Debt Report 2016 has just been released, offering a survey of almost 2,000 currently enrolled medical residents nationwide.

The major findings include the fact that medical residency salaries are on the rise — but perhaps not as fast as residents would like! The survey results are nothing if not honest: "Their answers and comments were heartfelt and insightful," as the Medscape authors themselves point out.

Also of interest is the growing disparity between medical resident salaries and physician compensation, and the closing gap between male and female residency salaries. Read on for a recap, or check out Medscape's original survey here.

How Much are Medical Residency Salaries in 2016?

The survey estimates 2016's average medical residency salary at $56,500, up from $55,400 in 2015.

"The latest figure averages higher earnings in such specialties as critical care and oncology and lower earnings in other specialties, such as primary care," the authors point out. "However, despite being the highest-paid resident specialty, critical care is only in the middle of the pack of salaries for established physicians, according to Medscape's 2016 Physician Compensation Report." Read that report here.

Medical Residency Salaries: A Closing Disparity between Males and Females

Male residents continue to earn slightly more than their female counterparts, but as the survey points out, that gap is swiftly closing. In last year's report, "the difference in average earnings for male and female residents was only $1000," the authors write. "In 2016, the average earnings gap had shrunk to $600, with male residents earning $56,700 and female residents earning $56,100."

And how do residents feel about this disparity — and about their residency salaries, in general? "In our 2015 report, 60% of male residents and 65% of female residents felt fairly compensated," the report points out. "In 2016, only 52% of men and 55% of women said they felt the same."

"How Much Debt are [Residents] Carrying?"

The survey found that almost 70 percent of medical residents "have significant medical school debt (exclusive of any other debt)" of $50,000 or greater. (That's the same as 2015.)

"Well over one third (40%) of residents have over $200,000 in debt, and one fifth (20%) have $100,000-$200,000," the authors add. An additional eight percent have $50,000 to $99,999, while nine percent owe an amount less than $50,000. "A fortunate 22% of residents have no debt."

This recap is just the tip of the iceberg: For a more comprehensive look at medical residency salaries in 2016, visit Medscape's original report here.

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