As expected, salaries increase with years of experience, and those in highly specialized programs have often been in training for many years. On average, male residents receive higher salaries than their female counterparts by a very small margin. The gender earnings gap among physicians is much larger, according to Medscape. Budgeting after your first doctor paycheck. Is a physician mortgage right for you? Controlling the urge to splurge: Car-buying strategies for new DOs. Why your FICO credit score matters so .
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After paying for years of medical education, from an undergraduate degree to four years of med school, fledgling doctors, known as residents, can start earning a salary to help pay off their student loans. But as entry-level doctors they can expect to earn far less than they will with more experience. Residents are physicians who have graduated from medical school. Before they can become licensed they must complete three to seven years of residency focusing in an area in which they are interested, such as pediatrics or surgery. Some choose an additional year to focus in a niche area. They work in hospitals or other clinical settings and are supervised by attending doctors. This helps new doctors to get hands-on experience, from making diagnoses to intubating patients, so that they can apply for a medical license, which allows them to practice without supervision. Residents are often required to work long hours or be «on call» overnight in case they are needed. Before becoming a resident, students must complete four years of medical school.
How Much Money Do Resident Doctors Earn? Is it Worth the Hours?
Salary Reflects Extra Training
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