What Do Medical Residents Earn? Pay by PGY and U.S. Region

Medical residents are paid during training, but their salaries are significantly lower than those of fully trained physicians. How much a resident earns depends primarily on their postgraduate year (PGY), institution, and location, rather than their medical specialty.

According to the latest AAMC Survey of Resident/Fellow Stipends and Benefits, the average PGY-1 resident stipend is $68,166 per year. The AAMC conducts this survey annually among ACGME-accredited sponsoring institutions.

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Average Residency Salary by PGY

Resident salaries typically increase every year as physicians progress through training.

These figures come from the 2025 AAMC stipend survey, which is the latest completed national survey currently available.

Most residents will not remain in residency through PGY-8. Training length depends on specialty, with some physicians continuing into fellowship after completing their primary residency.

Residency Salary by U.S. Region

Location can make a substantial difference in resident pay.

For PGY-1 residents, the 2025 AAMC regional averages were:

Residents in the West and Northeast receive the highest average nominal salaries, while Southern programs report the lowest average PGY-1 stipends.

However, a higher salary does not necessarily mean more disposable income. Housing, transportation, taxes, and other living expenses can differ substantially between cities.

A $78,000 residency salary in an expensive metropolitan area may not stretch as far as a lower salary in a more affordable city.

Does Residency Specialty Affect Salary?

Usually, not directly. At many institutions, residents at the same PGY level receive the same base stipend regardless of specialty.

That means a PGY-1 internal medicine resident and a PGY-1 surgery resident working for the same sponsoring institution may receive the same base salary even though their schedules and responsibilities differ.

Specialty becomes much more important to compensation after residency, when physician salaries vary significantly depending on field, practice type, geographic location, and experience.

What Benefits Do Medical Residents Receive?

Salary is only one part of a residency compensation package.

Depending on the institution, benefits can include:

• Health, dental, and vision insurance
• Paid vacation and sick leave
• Parental or family leave
• Meal allowances
• Parking or transportation benefits
• Educational funds
• Conference allowances
• Licensing or examination reimbursement
• Disability and life insurance
• Retirement plans
• Housing assistance

The AAMC recommends asking about benefits during residency interviews, including meals, parking, leave policies, educational reimbursement, resident unions, and moonlighting opportunities.

When comparing residency programs, looking only at salary can therefore be misleading.

Do Chief Residents Earn More?

Chief residents can receive additional compensation depending on the institution, specialty, and structure of the chief resident role.

However, there is no single national chief resident salary. Some chief positions represent an additional year of training, while others involve leadership responsibilities during a resident's final scheduled year.

Applicants should review the individual program's compensation structure rather than assuming every chief resident receives a fixed salary increase.

Can Residents Negotiate Their Salary?

Individual salary negotiation is uncommon in residency.

Residency stipends are generally established by the institution according to PGY level rather than negotiated separately with each resident.

Resident unions have become increasingly relevant at some U.S. training institutions, but collective bargaining differs from an individual resident negotiating their personal salary.

When evaluating programs, applicants should therefore compare the published stipend, benefits, annual increases, and local cost of living before ranking programs.

How Much Is a Residency Salary Per Month?

A PGY-1 stipend of $68,166 per year equals approximately $5,681 per month before taxes.

Actual take-home pay will be lower after deductions such as:

• Federal income tax
• State and local taxes where applicable
• Social Security and Medicare
• Health insurance contributions
• Retirement contributions

Your actual monthly income will therefore depend partly on where you live and the benefits offered by your institution.

Residency Salary and Medical School Debt

Resident pay can feel particularly tight for graduates carrying medical school debt.

Financial planning before residency can help you understand how your salary will cover:

• Housing
• Transportation
• Food
• Insurance
• Student loan payments
• Emergency savings
• Professional expenses

The AAMC provides financial resources for residents, including budgeting tools and information about managing student loans during graduate medical education.

Should Salary Affect Your Residency Rank List?

Salary can matter, but it probably should not be your only consideration.

Compare:

• Salary relative to local living costs
• Health and retirement benefits
• Housing costs
• Vacation and leave
• Educational funding
• Clinical training
• Program culture
• Faculty mentorship
• Fellowship or career opportunities
• Location and lifestyle

A program offering several thousand dollars more per year may not necessarily provide a better financial situation if rent and other expenses are considerably higher.

For medical students preparing for residency, clinical electives can also help clarify specialty interests before reaching the Match. Go-Elective's Medical Electives provide supervised clinical exposure for medical students interested in experiencing different specialties and healthcare environments.

FAQs About Medical Residency Salary

1. What is the average salary for a first-year medical resident?

The latest AAMC data place the average PGY-1 stipend at $68,166 per year.

2. Does residency salary increase every year?

Usually, yes. Average pay rises with each PGY level. The latest national averages increase from $68,166 at PGY-1 to $94,215 at PGY-8.

3. Which U.S. region pays residents the most?

The Western region currently has the highest average PGY-1 stipend at $77,649, followed by the Northeast at $74,994.

4. Are residents paid differently depending on specialty?

Often, residents within the same institution are paid according to PGY level rather than specialty. Individual program policies can differ.

5. Do medical residents receive benefits?

Yes. Depending on the program, residents may receive health insurance, paid leave, meal allowances, educational funds, retirement benefits, transportation assistance, and other benefits. The exact package varies by institution.

Article Details

Categories

Recent Articles , Med Schools, Medical Electives, Pre-health, Residency,

Author: Tatina Himes

Date Published: Sep 2, 2026