Residency training is a critical phase in a medical professional’s career. It’s a time of intense learning, long hours, and for many, a modest paycheck compared to future earnings. In 2025, residency salaries remain a key topic among medical graduates, especially as student debt and living costs continue to rise. This guide explores the latest salary trends, what influences income, and what aspiring residents should expect financially.
Average Residency Salary in 2025
As of 2025, the average residency salary in the United States falls between $61,000 and $71,000 per year, depending on specialty, location, and postgraduate year (PGY).
PGY-1 (first-year residents/interns): $61,000 – $64,000
PGY-2 to PGY-4: $65,000 – $71,000
Fellowship (post-residency training): $70,000 – $80,000
While these figures reflect gross income, take-home pay after taxes and deductions (such as healthcare, retirement contributions, and union fees) may be significantly lower.
Factors That Influence Residency Salaries
Several key elements impact how much a resident earns during training:
1. Specialty
Some specialties offer slightly higher stipends due to intensity or length of training. For instance:
Surgical residents: Often on the higher end ($68,000+)
Primary care residents: Typically closer to average ($61,000–$65,000)
2. Location
Urban hospitals in high-cost-of-living areas (like New York City or San Francisco) usually provide cost-of-living stipends or bonuses, raising effective pay.
3. Institution Funding and Unionization
Hospitals affiliated with well-funded medical schools or those with resident unions often negotiate better pay and benefits.
4. Postgraduate Year (Experience)
Pay typically increases incrementally each year a resident progresses through the program.
What Does a $103,000 Salary Look Like for Residents?
Although $103,000 is not typical for standard residency programs, some specialized fellowships, military residencies, or roles like Chief Residents with administrative duties may approach this number.
Estimated Take-Home Pay:
Gross salary: $103,000/year
Federal tax (~22%), state/local tax, benefits: Estimated deductions: $25,000–$30,000
Net salary: ~$73,000–$78,000/year or ~$6,100/month
This salary allows for more financial flexibility, especially in areas with moderate cost of living.
Salary Growth by Experience
While residency itself doesn’t offer huge raises, the medical field is known for exponential salary growth after training:
Residency (PGY-1 to PGY-5): $61,000–$80,000
First year as attending physician: $200,000–$250,000 (depending on specialty)
Senior roles (5+ years): $300,000+
Job Market Trends in 2025
The medical field in 2025 continues to show robust demand:
Increased residency slots due to medical school expansions
More primary care positions driven by aging population and chronic disease management
Tech-focused specialties (like radiology or telemedicine) see rising interest and compensation
Residency training remains a solid pathway to long-term financial and career stability.
Benefits Beyond Salary
While base pay may seem modest, residents often receive:
Health insurance (medical, dental, vision)
Paid vacation (usually 3–4 weeks)
Meal allowances or free hospital meals
Educational stipends for conferences or board exams
Retirement plans (403b or 401k options)
Certifications & Education That Impact Salary
Although certifications don’t typically affect resident pay, they can boost earnings post-residency:
Board Certification: Mandatory for many high-paying attending roles
Additional degrees (MBA, MPH, PhD): Open doors to leadership and academic positions
Specialized fellowships: Increase salary potential and job flexibility
Final Thoughts
Residency is a demanding but essential phase of a physician’s journey. In 2025, while the salary may not reflect the hours and expertise, the career trajectory offers strong future earnings and job security. Choosing the right specialty, location, and program can significantly influence both immediate income and long-term success.
Whether you’re applying to residency or planning ahead, understanding the financial landscape ensures you’re making informed, strategic decisions for your future.
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