After often seven or more years of education, doctors must then work for several years as a medical resident before being able to practice on their own. Since medical residents are working as doctors though under direct supervision, they do earn a respectable annual salary. Though the Bureau of Labor Statistics does not list medical resident salaries, several well-respected medical programs list their salaries, which are typical of the industry.
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For the first year of residency, a medical resident can expect between £29,250 and £32,500 per year. The University of Tennessee Graduate School of Medicine offers their medical residents £29,363 per year. The University of Maryland Medical Center offers their internal medicine medical residents £30,286 per year, while psychiatric medical residents at the Semel Institute at UCLA earn £31,368 a year. Medical residents at the UC San Diego Department of Medicine earn £31,368 per year.
In general, second-year medical residents earn between £650 and £1,300 more than first-year residents. Medical residents at the University of Tennessee receive a £1,023 raise to £30,387 per year. University of Maryland second-year residents receive £1,480 more a year making, their salary £31,766 per year. Second-year psychiatry medical residents earn a £1,133 raise, to make their pay £32,501 per year.
Third-year residents typically earn a £1,300 to £1,950 raise over the previous year. Internal medicine medical residents at the University of Maryland move up to £33,229 per year, psychiatry medical residents at UCLA to £33,844 per year, and UC San Diego medical residents moved up to £33,844 a year.
Fourth-year medical resident pay increases are in line with third-year raises, averaging somewhere between £1,300 and £1,950. The University of Maryland pays their fourth-year medical residents £34,262 annually, UC San Diego pays £35,317 per year, and the University of Tennessee pays £32,077 a year. Fourth-year psychiatric medical residents at UCLA move up to the £35,317 annual pay grade.
Year Five and Beyond
Some residencies end at the fourth year while some programs require seven years, depending on speciality. The University of Maryland's medical residency program pays £35,597 for the fifth and last year of residency. Medical residents at the University of Tennessee earn £33,489 their fifth year of residency, £34,547 in their sixth year and £35,587 in their seventh and final year. Psychiatric medical residents at the Semel Institute at UCLA make £36,721 their fifth year and £38,272 in their sixth and last year.
In addition to the salary during residency, medical residents also typically receive full health and prescription benefits, educational and housing stipends, paid vacation and sick leave, as well as "moonlighting" opportunities, as the University of Maryland calls it. Such benefits in addition to the annual salary add significant value that easily adds up to tens of thousands of dollars that must also be considered when calculating the salary of a medical resident.
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- University of Maryland Medical Center: Internal Medicine Residency Salary and Benefits; 13 Aug. 2010.
- University of California, Los Angeles Semel Institute: Resident Salary Schedules and Benefits for 2010-2011; 27 Aug. 2010.
- The University of Tennessee Graduate School of Medicine: Resident Salary and Benefits 2010-2011 Academic Year;
- University of California, San Diego Department of Medicine: Salary Scale for Academic Year 2010-2011.