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According to the most recent available AAMC data, the average total salary (also called a stipend) for medical residents is $63,800 during Postgraduate Year 1 (PGY-1). Each year, residents receive a predetermined salary increase.
Residents are paid standardized salaries based on the institution where they work, regardless of specialty. This means that no residency specialty is paid more than another within the same residency program (in other words, all residents in the same PGY at the same institution are paid at the same rate). These salary rates are determined primarily by cost of living (CoL), so residents in larger metropolitan areas will generally receive the highest salaries.
Other job benefits, such as insurance, transportation benefits, and paid time off, differ by residency program but are offered equally across the institution.
What are the highest-paid residency programs? The highest-paid residency spots are typically those in the cities with the highest cost of living. Many residencies in New York and Los Angeles pay $90,000 or more for PGY-1, which is significantly higher than the national average. There are no specialty-related differences in residency salary.
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Quick Stats
5 quick statistics about salary packages for graduate medical education programs (GMEs):
- The average resident’s salary ranges from around $64,000/year for PGY-1 up to $87,500 in PGY-8.
- Resident salaries rise each year as residents enter subsequent PGYs.
- Although rural states like Kentucky and Tennessee are two of the highest-paying states for physicians, states with large metropolitan areas like California and New York offer some of the highest salaries for residents.
- Residents earn significantly less than licensed primary care physicians ($265k) and specialists ($360k and up).
Learn More: Most Competitive Residencies
Residency Salary Increases by Job Level
Below are the salary ranges for each postgraduate year of residency, based on the most recent AAMC data. The low number is for residencies at the 25th percentile of the mean, and the high end is at the 75th percentile (meaning some salaries will fall outside this range in very high or very low cost-of-living areas).
| Resident Job Level | Annual Salary Range |
| PGY-1 (Postgraduate Year 1) Residents | $59,602-$66,918 |
| PGY-2 Residents | $61,843-$69,431 |
| PGY-3 Residents | $64,168-$72,679 |
| PGY-4 Residents | $67,009-$76,493 |
| PGY-5 Residents | $70,235-$80,521 |
| PGY-6 Residents | $72,465-$83,617 |
| PGY-7 Residents | $75,982-$88,055 |
| PGY-8 Residents | $80,308-$92,664 |
Read Next: How Much Does It Cost to Attend Medical School?
Residency Salary by Region
Because cost of living is the major determinant for a residency program’s salary rate, the largest disparities in residency salary are by location. Below are the PGY-1 residency salaries by region.
| Region | PGY-1 Average Salary |
| Northeast | $68,375 |
| Southern | $60,514 |
| Central | $63,302 |
| Western | $71,450 |
Chief Resident Salary
In many (but not all) cases, chief residents earn a slightly higher salary than the rest of the residents in their program.
The AAMC found that around 71% of residency programs pay chief residents a higher stipend than the rest of the residents in the program. Of these, a majority (58%) use a set amount of increased pay to determine this extra stipend amount. Some programs use a formula or pay different additional stipends by department.
The mean set amount of this additional salary was $4,980.
Other Salary Differences
The AAMC report also found that 11% of residency programs reported paying additional salary to residents other than chief residents. For the small number of programs this applied to, the factors that might lead to a higher monthly stipend for residents other than chief residents included:
- Prior GME (graduate medical education) experience
- Being a member of faculty
- Being a member of the residency association
- Holding an H-1B visa
Other Job Benefits to Expect
Residency training programs may offer additional benefits, including:
- Insurance — Comprehensive health insurance, dental, vision, life insurance, and even malpractice insurance are usually provided to residents.
- Paid Time Off (PTO) — Many residencies offer 2-4 weeks of paid vacation per year, paid sick days, and sometimes paid maternity and paternity leave.
- Housing Stipend — In areas with a high cost of living, some residency programs give you a housing stipend to help afford accommodation near that hospital.
- Meal Allowance — Most residency programs offer some sort of meal stipend or free meals while on call, especially during long shifts.
- Educational Benefits — Some programs may help you with the cost of attending medical conferences or educational seminars, reimbursement for textbooks, and board review courses. A few even help with the cost of state medical licenses and exams.
- Retirement Plans — Some programs offer retirement savings help, such as a 403(b) or 401(k). Look for programs that do matching contributions, even if it’s small.
- Well-Being Benefits — Medical centers may offer residents mental health and wellness resources.
- Travel Benefits — Some programs, like Columbia’s Residency Program, offer travel benefits in the form of Lyft/Uber credit.
Ask the program director for more info on any of these potential job benefits.
Related: Categorical vs. Preliminary vs. Advanced Residency Programs
Can Residents Negotiate Salary Increases?
Unlike physicians, residents usually cannot negotiate salary increases. The Match is legally binding, so once you match into a program, you automatically agree to whatever they’re offering. Institutions almost always set standard resident salaries, and you don’t have the patient care experience to leverage any bargaining power.
That said, there has been a recent push for residents to unionize to counteract some of the issues of standardized salaries and working conditions. This comes with upsides and downsides.
If more medical residents unionize, they would have greater collective bargaining power, potentially leading to more effective negotiations for salary increases. Unions have already helped residents secure higher compensation that reflects the cost of living and inflation while also addressing long work hours and other workplace concerns.
However, hospitals are likely to resist further changes like this, citing budget constraints, which could lead to tougher negotiations and less friendly relations between residents and hospital administrations.
Even if residency unions become more common, individual residents would not have the ability to negotiate their own salary increases or other benefits. All negotiations would apply to every resident union member within those systems.
Salary Expectations Post-Residency
How much do doctors make after residency? The average physician salary is $277,000. This figure includes new physicians who make less than that and experienced specialists who make three times as much.
The top-paying specializations post-residency include orthopedic surgeons ($558k) and plastic surgeons ($536k). The lowest-paying specialties are endocrinology and pediatrics, with average salaries of $256K and $260K, respectively.
Read Next: Steps to Becoming a Doctor
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Amar Mandalia, MD
Dr. Mandalia is an accomplished medical writer with multiple manuscripts in peer-reviewed journals and a practicing GI physician in the Orlando area. He is the Admissions Advisor for MedSchoolCoach and has extensive experience helping students get into medical school and residency.
