Healthgrades for ProfessionalsMedical Residents: Which Specialties Get Paid the Most?

Resident Salaries Rise Amid Persistent Compensation Concerns: A Glimpse into Specialty Pay Disparities and Future Earning Expectations

Medical resident salaries have seen a notable increase, breaking a period of stagnation. However, this rise comes against a backdrop of widespread dissatisfaction with compensation levels among residents. The latest Medscape report on Residents Salary and Debt reveals insights into pay disparities across specialties, gender-based salary differences, and the influence of future earnings on specialty choices.

Key Points:

• Average medical resident salary increased by 5% to $67,400 in 2023, following minimal growth in previous years
• First-year residents earn an average of $61,000, while those in years 6 to 8 average $74,000
• Approximately 75% of residents are dissatisfied with their compensation
• Health insurance (88%), paid time off (84%), and dental insurance (76%) are the most common benefits provided to residents
• A small gender pay gap exists among residents: men earn $64,200 on average, while women earn $63,700
• Top-paying specialties for residents include Allergy & Immunology, Hematology, Plastic Surgery, Rheumatology, and Specialized Surgery, with an average annual salary of $69,500
• Cardiology residents earn an average of $68,600 annually
• Specialties such as Critical Care, Diabetes, Endocrinology, and Gastroenterology offer an average salary of $66,500
• Orthopedic surgery residents earn an average of $64,800 per year
• Family Medicine residents have the lowest average salary at $58,500
• Nearly all surveyed residents reported that future compensation influenced their specialty choice
• 23% of residents expect to be employees rather than practice owners or partners
• More male residents (28%) than female residents (16%) anticipate having an ownership stake in their future practice

Average physician income across all providers was $363,000 according to the latest Medscape report, compared to $352,000 the prior year. (Medscape)

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