Here are seven additional things to know about resident salaries in 2024:
1. By the fifth to eighth years of residency, physicians earn an average of $78,000 annually. In the first and second years, they earn just $65,000.
2. The majority of residents (60%) complete their training in a hospital setting. Just 5% train in an outpatient setting.
3. A majority of residents (90%) believe residents are not paid enough. No one polled by Medscape said residents were overpaid.
4. About 80% of residents believe their salaries do not reflect their hours worked, and they believe compensation is not comparable to other medical staffers.
5. One in 10 residents believe their pay should be at least doubled.
6. Seventy-two percent of residents believe their future pay is either extremely, very or somewhat influential with respect to specialty choice.
7. More than half of residents have at least $150,000 in medical school debt.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.