Do You Get Paid for Residency?

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"Residency" is the term applied to the clinical training a student doctor must complete before he's eligible to earn his license practice medicine on his own. Before residency, a medical student must pass four years of college before going through four years of medical school. After graduating from medical school, he enters residency under a skilled physician in a real medical setting.

Residency Pay

  • Medical residents are paid, according to the University of Alabama. As of 2011, residents with the University of Alabama earn between $45,443 and $54,915 a year, or between $3,786.92 and $4,576.25 a month. Pay depends on where the student is completing his residency training. Residents with the University of California, for instance, earn $48,259 in their first year.

Residency Length

  • Residency terms are based on the specialty the student chooses, according to the American Medical Association, and can last from three to seven years. For example, a medical student interested in specializing in family medicine or pediatrics will enter a three-year residency, while a student interested in general surgery will enter a five-year residency. Regardless of specialty, residents are paid for the entire term.

Pay Based on Residency Year

  • According to the University of Alabama, a resident's pay grade is based on the year of his residency. For example, his first year he's paid $3,786.92 a month, or $45,443 a year; in his second he earns $3,835.17 a month or $46,022 a year. His pay increases gradually with each additional year in residency.

Other Benefits

  • A resident can take advantage of other benefits, depending on where he completes his residency. Residents at the University of Alabama are given $4,500 a year for three years to help offset educational and supply costs, as well as paid parking and free equipment. Residents with the University of California get $500 a year to offset education expenses, $2,500 a year to offset housing costs and $600 a year to pay for licensing.

References

  • Photo Credit Hemera Technologies/AbleStock.com/Getty Images
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