Highest Paid Residency
Highest Paid Residency

What is the ? So many medical students desire to know how long takes. What exactly constitutes a medical resident?

Before we get into that, this post will go over the highest-paid residency programs and the top specialty for medical students. So, keep reading.

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What is a Medical Residency?

A medical residency is an extensive training program that takes place at a hospital or clinic and focuses on a certain medical specialty.

Residency programs usually last three years.

Doctors-in-training are taught laboratory work, medical procedures, patient care, quality control, mental and physical self-care, and “disclosure of adverse events”—the giving of bad news.

Because the first year of residency, also known as PGY-1 (post-graduate year one), is considered an internship, first-year residents are referred to as “interns.”

Interns become “residents” after PGY-2, as they concentrate more on their specializations.

Doctors who advance to subspecialties after completing residency are referred to as “fellows,” as their training is referred to as a fellowship.

To be accepted into a fellowship, doctors must go through the application, interview, and matching process once more.

Residency is challenging and demanding, and residents work long hours putting their classroom and clinical knowledge into practice. 

In this post, we will look at the highest-paying residency programs as well as the best subspecialties.

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Do residents make a lot of money?

In comparison to other professions with comparable or even lower levels of training, resident pay appears to be very low.

This is because resident graduate medical education (GME) funding is primarily provided by Medicare, but salaries are set by teaching hospitals. And there's little incentive to raise pay. 

According to the most recent Medscape Residents Salary and Income report, the average resident's salary is just over $57,200.

Why do residents get paid so little?

Resident doctors are most likely paid so little because Medicare funds a large portion of residency program funding, and Medicare funds (for training residents) have been frozen since 1997.

Other microeconomic factors come into play as well. While resident doctors are paid, the work they do is always overseen by an attending physician.

During their first post-graduate year, interns do not even have a license to practice medicine (PGY-1). Residents do not generate revenue on their own because they lack the ability to bill for services that are not provided by the attending. 

Residents, as ridiculous as it may appear, are both an investment and an expense, but they are not rainmakers. The care they provide has just as much clout in that the residents are trained as it does in that the patient is cared for.

Even if funds were unfrozen, there are fewer residency slots available than there are current medical graduates. An increase in funding would almost certainly result in more residency slots, not better pay.

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How much do residents make? 

It's pertinent to ask this question “how much do medical residents ”, especially if you are about to become a resident doctor.

While there are no clear-cut figures as to how much residents make can be influenced by a number of other factors, medical residents' salary is applaudable.

According to Medscape's Residents Salary and Debt Report 2022, the average medical resident earns $64,000 per year, a 1% increase from the $63,400 they earned in 2020. 

Salary increases with years of experience, as expected. Salaries in the sixth through eight years of postdoctoral training average $70,300, which is significantly higher than the $57,500 paid in the first year of residency. 

Is residency harder than medical school?

They're both difficult but in different ways. However, residency is likely to be more difficult.

Med school is difficult because it requires the rapid assimilation of massive amounts of information, with the need to be able to regurgitate that information either on tests or at the drop of a hat on a clinical rotation when an attending starts asking pimp questions on rounds.

All of this, plus extreme sleep deprivation and the constant awareness that your own personal level of skill and competency is frequently all that stands between patients and death, is what residency entails.

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How to choose a residency program

Highest Paid Residency
Highest Paid Residency

During interviews with internship and residency program directors, medical students can determine which training site best fits their personality and goals by asking the right questions.

When choosing a residency program consider the following:

1. Always consider the faculty's calibre.

Are they challenging and supportive enough to allow you to spread your wings and develop your own practice style before graduating?

2. Don't be misled by “perks”

Perks like convenient call times, free parking, and discounted housing. “In the long run, perks don't matter; what matters is the experience,”

3. Take into account the location.

Is the program located in an area where you want to live? Would you like to work in that area after you graduate? Is there any option for recreation during downtime?

4. Speak with predecessor residents

Speak with a resident from each year of the program if possible to get a sense of what lies ahead. Also, look into what program the graduates are doing and make sure their careers align with yours.

5. Don't pretend to have opinions you don't normally have

During the interview, do not pretend to have attitudes or opinions that you do not truly hold. “If you match into a program based on characteristics you don't have, it can cause a lot of unnecessary problems.

6. Inquire about the program's strengths and weaknesses

They are present in all programs, and understanding what they are can help you make an informed decision.

7. Take advantage of the opportunity to speak with nursing staff during your visit.

They will be your coworkers for many years, so it is critical to gain their perspective on residents.

8. Don't consider it a pass or fail experience

And, when training begins, don't consider it a “pass/fail” experience.

This is one of the last times in your career that you will have academic support as a student, a reason to try new things, and help if you fail.”

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What comes after residency? 

First, he or she throws a huge party to commemorate the completion of the training phase of his or her career.

However, a few may choose to pursue a fellowship (an additional 2–3 years) to gain additional specialized training. While this may result in a slightly higher salary, most doctors complete their training with residency.

A medical doctor will typically take a “board” examination specific to his or her field in the final months or shortly after residency.

Internists, for example, take the Board of Internal Medicine examination. OB/GYNs must pass the Board of Obstetrics and Gynecology (ABOG) examination, among other things. 

This may vary depending on the country. Passing these exams qualifies the doctor for employment as a specialist in their field.

After residency, one can decide to stay in academia, which provides more prestige and a slightly lower workload but requires teaching, publishing, and politics.

More vacation time, including conference and academic days. Lower pay is frequently the trade-off.

The other option is to go into private practice. This can be a solo, small to a large single-specialty group, a multi-specialty group as an employee with or without partnership potential, or hospital employment.

Last but not least, travel is required, but so is the opportunity to learn about different practices/lifestyles, etc.

If they are fortunate, some people will spend their entire career with a single group. Others may take a little longer to find the right fit. 

This is similar to graduating from college, but it is delayed by seven to ten years or more.

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Top 10 Highest Paid Residency and Specialities

Highest Paid Residency
Highest Paid Residency

Here is a list of the 10 highest-paid residency programs;

#1. Emergency Medicine Residency

Emergency medicine is one of the highest-paid residency programs. It is a medical specialty that focuses on recognizing, evaluating, and caring for patients who are critically ill or wounded.

It is a high-pressure, fast-paced, and diversified specialty that necessitates a comprehensive basis of medical knowledge as well as a wide range of clinical and technical abilities.

Pre-hospital care and the acute care components of the other specialties are prioritized. Emergency physicians treat people of all ages for a wide range of illnesses with various degrees of severity.

Clinical topics such as catastrophe medicine and large crowds are also included in emergency medical courses. 

A minimum of three years of postgraduate education in one of three forms is required for training (PGY 1-3, PGY 2-4 with separate internship, PGY 1-4). 

Following completion of an emergency medicine residency training program, subspecialty/fellowship training is offered in medicine, pediatric emergency medicine, EMS-prehospital, disaster medicine, medical toxicology, emergency ultrasound/imaging, palliative care, and critical care.

It is obviously one of the highest paying residency programs in the world.

Emergency Room Physician Average Salary By State

Rank  State  Avg. Salary  Hourly Rate  Job Count  
1New Mexico$129,183$62.11404
2Maine$127,048$61.08297
3Hawaii$157,683$75.81157
4Florida$138,071$66.382,447
5Louisiana$133,363$64.12438
6Nevada$121,979$58.64384
7Arizona$123,589$59.42948
8Mississippi$133,424$64.15190
9South Carolina$121,619$58.47642
10Vermont$119,776$57.58132
11Connecticut$122,387$58.84503
12Texas$121,983$58.652,814
13Georgia$124,123$59.671,169
14New Hampshire$116,007$55.77332
15Alabama$124,894$60.05354
16New York$118,418$56.932,060
17California$132,697$63.802,716
18Oregon$119,186$57.30550
19North Carolina$116,691$56.101,084
20Pennsylvania$109,079$52.441,669
21Arkansas$117,679$56.58218
22Delaware$119,175$57.3093
23Tennessee$106,792$51.34698
24New Jersey$114,815$55.20947
25West Virginia$102,617$49.34200
26Ohio$110,030$52.90871
27Virginia$111,804$53.75968
28Oklahoma$101,313$48.71359
29Wyoming$97,909$47.0788
30Utah$109,076$52.44250
31North Dakota$97,142$46.70155
32Wisconsin$96,826$46.55921
33Rhode Island$109,220$52.5193
34Maryland$107,050$51.47668
35Massachusetts$107,686$51.77885
36Alaska$90,497$43.51165
37Idaho$103,521$49.77112
38Indiana$95,572$45.95818
39South Dakota$89,267$42.92224
40Kentucky$96,282$46.29363
41Missouri$98,295$47.26611
42Washington$98,812$47.51845
43Illinois$98,651$47.431,134
44Nebraska$97,508$46.88183
45Michigan$94,584$45.47869
46Montana$78,597$37.79201
47Kansas$95,793$46.05284
48Colorado$95,980$46.14685
49Iowa$94,769$45.56374
50Minnesota$91,376$43.93811
51District of Columbia$99,274$47.73103

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#2. Anesthesiology Residency

Anesthesiology is a branch of medicine that specializes in the care of patients who are made unconscious or insensitive to pain and stress during surgical, obstetric, and other medical operations.

This includes preoperative examination and treatment of these patients in specialist care for:

  • pain management
  • cardiac resuscitation
  • respiratory care issues, and
  • management of critically ill and/or injured patients in special care units. 

A minimum of four years of graduate medical study is required for training. Three years of clinical anesthetic training are required.

One year of training must be spent on the clinical base year, which should offer the resident 12 months of extensive clinical instruction in medical specialties, with a maximum of one month including anesthetic administration.

Typically, the clinical base year is the first year of graduate medical school. 

Following completion of an anesthesiology resident training program, subspecialty, fellowship training is available in anesthesiology critical care medicine, pain management, and pediatric anesthesiology.

Anesthesiology Resident Average Salary By State

Rank  State  Avg. Salary  Hourly Rate  Job Count  
1Minnesota$196,523$94.48558
2North Dakota$200,867$96.5714
3Wisconsin$186,807$89.81146
4Wyoming$184,558$88.737
5Iowa$175,890$84.5646
6South Dakota$178,204$85.6711
7Ohio$170,377$81.91133
8Indiana$170,438$81.9485
9Idaho$182,881$87.9211
10Nebraska$182,214$87.6014
11Illinois$176,178$84.70130
12Michigan$165,652$79.64201
13Vermont$187,518$90.152
14Maine$181,049$87.048
15West Virginia$172,412$82.8910
16Montana$179,443$86.274
17Mississippi$165,956$79.7917
18Utah$176,268$84.749
19Oregon$173,634$83.4833
20New Mexico$167,788$80.6714
21Pennsylvania$161,595$77.69165
22Alabama$162,342$78.0542
23North Carolina$164,185$78.9472
24Tennessee$158,411$76.16104
25Colorado$163,684$78.6976
26Washington$171,993$82.6955
27Alaska$161,875$77.8229
28Kentucky$157,901$75.9172
29Missouri$163,110$78.4243
30Maryland$163,140$78.4382
31New York$160,135$76.99291
32Texas$160,000$76.92162
33Massachusetts$166,975$80.2857
34Arkansas$161,484$77.6410
35Arizona$159,459$76.6644
36California$161,659$77.72267
37Georgia$153,103$73.61130
38Louisiana$158,983$76.4315
39Kansas$158,279$76.1013
40Nevada$153,591$73.8420
41Connecticut$160,138$76.9922
42New Hampshire$157,024$75.4912
43New Jersey$159,922$76.8952
44Virginia$158,222$76.0768
45District of Columbia$153,721$73.9014
46Oklahoma$155,119$74.588
47Florida$139,952$67.28164
48South Carolina$150,304$72.2628
49Hawaii$90,695$43.609
50Rhode Island$151,898$73.031
51Delaware$145,046$69.738

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#3. Medical Physicist Residency

The Radiation Oncology Physics Residency Program is one of the highest-paid residency programs. It is aimed at persons with an MS or Ph.D. who want to learn about clinical radiation oncology physics in preparation for a clinical career.

It offers clinical training in radiation oncology physics, preparing graduates for board certification and a career in radiation oncology. 

This Residency Program training includes the physics resident participating fully in the clinical routine while being supervised by experienced radiation oncology physicists.

Dosimetry, treatment planning, brachytherapy, radiation safety, multi-modality imaging, radiography and MR image guiding, particle therapy, specific procedures, and quality assurance are all covered in depth.

This residency provided training. The program prepares graduates for certification in the therapeutic medical physics specialty.

Graduates will also get enough clinical training, which should qualify them for employment as radiation oncology physicists., They benefit greatly from this high paying residency program.

StateAnnual SalaryMonthly PayWeekly PayHourly Wage
New York$70,880$5,907$1,363$34.08
New Hampshire$66,916$5,576$1,287$32.17
Vermont$65,928$5,494$1,268$31.70
Arizona$62,375$5,198$1,200$29.99
New Jersey$62,217$5,185$1,196$29.91
Montana$62,171$5,181$1,196$29.89
Massachusetts$62,017$5,168$1,193$29.82
Wyoming$61,865$5,155$1,190$29.74
Hawaii$61,219$5,102$1,177$29.43
Nevada$60,934$5,078$1,172$29.30
Washington$60,685$5,057$1,167$29.18
Indiana$60,011$5,001$1,154$28.85
Tennessee$59,710$4,976$1,148$28.71
Connecticut$59,648$4,971$1,147$28.68
Minnesota$59,117$4,926$1,137$28.42
West Virginia$59,105$4,925$1,137$28.42
Rhode Island$58,939$4,912$1,133$28.34
Alaska$58,639$4,887$1,128$28.19
Pennsylvania$58,524$4,877$1,125$28.14
Oregon$58,045$4,837$1,116$27.91
North Dakota$57,412$4,784$1,104$27.60
Maryland$56,603$4,717$1,089$27.21
Wisconsin$56,469$4,706$1,086$27.15
Ohio$55,782$4,648$1,073$26.82
Virginia$55,678$4,640$1,071$26.77
California$55,590$4,632$1,069$26.73
Idaho$54,954$4,580$1,057$26.42
Iowa$54,878$4,573$1,055$26.38
Utah$54,667$4,556$1,051$26.28
South Dakota$54,637$4,553$1,051$26.27
Alabama$54,596$4,550$1,050$26.25
Nebraska$54,395$4,533$1,046$26.15
Delaware$54,266$4,522$1,044$26.09
New Mexico$53,804$4,484$1,035$25.87
Colorado$53,219$4,435$1,023$25.59
Florida$53,149$4,429$1,022$25.55
South Carolina$53,052$4,421$1,020$25.51
Kansas$52,504$4,375$1,010$25.24
Maine$52,432$4,369$1,008$25.21
Arkansas$52,234$4,353$1,005$25.11
Oklahoma$51,312$4,276$987$24.67
Mississippi$51,185$4,265$984$24.61
Michigan$51,167$4,264$984$24.60
Kentucky$50,651$4,221$974$24.35
Georgia$49,439$4,120$951$23.77
Illinois$49,383$4,115$950$23.74
Missouri$48,996$4,083$942$23.56
Texas$48,540$4,045$933$23.34
Louisiana$47,296$3,941$910$22.74
North Carolina$44,620$3,718$858$21.45

#4. Family Medicine Residency

Family medicine doctors are educated to prevent, diagnose, and treat a wide range of illnesses in people of all ages. It is one of the highest-paying residency programs in 2024.

It is a precise field that integrates a unique combination of biological, behavioral, and social sciences, despite its vast scope and practice. Family medicine is concerned with ongoing care within the framework of the family.

Family doctors use a wide variety of cognitive and procedural abilities and, when required, collaborate with other experts to coordinate treatment.

They are trained in surgery, psychiatry, internal medicine, obstetrics and gynecology, pediatrics, and geriatrics, among other specialties. 

Following completion of a family medicine residency training program, subspecialty/fellowship study in geriatric medicine and sports medicine is offered.

A minimum of three years of postgraduate education in an authorized training program is required for certification.

Residency In Internal Medicine Average Salary By State

Rank  State  Avg. Salary  Hourly Rate  Job Count  
1New Mexico$74,925$36.02118
2Hawaii$115,522$55.5433
3Oregon$72,088$34.66219
4New Hampshire$68,846$33.10127
5Nevada$70,109$33.7195
6Massachusetts$70,450$33.87470
7Maine$66,230$31.84114
8California$76,616$36.831,176
9Connecticut$68,795$33.07237
10Vermont$68,412$32.8936
11North Dakota$64,070$30.8050
12Delaware$71,038$34.1545
13Arizona$68,122$32.75267
14New York$70,001$33.65655
15Mississippi$73,875$35.5235
16Louisiana$66,318$31.88110
17Wisconsin$60,085$28.89326
18New Jersey$66,361$31.90373
19Pennsylvania$61,731$29.68460
20Florida$63,034$30.30683
21Kansas$60,492$29.08111
22Arkansas$64,101$30.8267
23Utah$64,536$31.0381
24Georgia$63,702$30.63329
25Minnesota$56,785$27.30342
26Texas$61,369$29.50742
27South Carolina$61,829$29.73154
28Alabama$62,489$30.04113
29Ohio$60,257$28.97276
30Nebraska$57,643$27.7180
31Iowa$56,218$27.03132
32Wyoming$58,831$28.2818
33Idaho$62,681$30.1436
34Kentucky$60,383$29.0395
35Washington$58,023$27.90361
36Virginia$63,078$30.33258
37Illinois$53,565$25.75626
38South Dakota$54,445$26.1835
39North Carolina$53,024$25.49489
40Rhode Island$58,058$27.9143
41Indiana$53,324$25.64271
42Alaska$49,875$23.9828
43West Virginia$56,636$27.2336
44Maryland$59,523$28.62199
45Missouri$54,006$25.96209
46District of Columbia$52,551$25.2666
47Oklahoma$51,751$24.88111
48Tennessee$54,894$26.39132
49Colorado$53,670$25.80198
50Michigan$50,037$24.06282
51Montana$46,448$22.3342

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#5. Internal Medicine Residency

Internal medicine is a broad-based specialty that encompasses the major organ systems of the body and is one of the highest-paid residency programs in the world.

A general internist is a physician who treats adolescents, adults, and the elderly in both the office and the hospital, addressing both common and complicated problems.

Internists are experienced diagnosticians who diagnose and treat a wide range of acute and chronic diseases, as well as promote health and disease prevention.

They are also taught the fundamentals of basic care, which include illness prevention, wellness, substance misuse, mental health, and the effective treatment of common disorders of the eyes, ears, skin, nervous system, and reproductive organs. 

A minimum of three years of postgraduate education in an approved internal medicine residency training program is required. 

Training in a Subspecialty/Fellowship Following completion of an internal medicine residency training program, subspecialty/fellowship training is available in a variety of disciplines.

Cardiology, endocrinology, diabetes and metabolism, gastroenterology, hematology, infectious diseases, medical oncology, nephrology, pulmonary illness, and rheumatology are all certifiable subspecialties.

Qualification certifications in adolescent medicine, clinical cardiac electrophysiology, clinical and laboratory immunology, critical care medicine, geriatric medicine, and sports medicine can be earned.

Residency In Internal Medicine Average Salary By State

Rank  State  Avg. Salary  Hourly Rate  Job Count  
1New Mexico$74,925$36.02118
2Hawaii$115,522$55.5433
3Oregon$72,088$34.66219
4New Hampshire$68,846$33.10127
5Nevada$70,109$33.7195
6Massachusetts$70,450$33.87470
7Maine$66,230$31.84114
8California$76,616$36.831,176
9Connecticut$68,795$33.07237
10Vermont$68,412$32.8936
11North Dakota$64,070$30.8050
12Delaware$71,038$34.1545
13Arizona$68,122$32.75267
14New York$70,001$33.65655
15Mississippi$73,875$35.5235
16Louisiana$66,318$31.88110
17Wisconsin$60,085$28.89326
18New Jersey$66,361$31.90373
19Pennsylvania$61,731$29.68460
20Florida$63,034$30.30683
21Kansas$60,492$29.08111
22Arkansas$64,101$30.8267
23Utah$64,536$31.0381
24Georgia$63,702$30.63329
25Minnesota$56,785$27.30342
26Texas$61,369$29.50742
27South Carolina$61,829$29.73154
28Alabama$62,489$30.04113
29Ohio$60,257$28.97276
30Nebraska$57,643$27.7180
31Iowa$56,218$27.03132
32Wyoming$58,831$28.2818
33Idaho$62,681$30.1436
34Kentucky$60,383$29.0395
35Washington$58,023$27.90361
36Virginia$63,078$30.33258
37Illinois$53,565$25.75626
38South Dakota$54,445$26.1835
39North Carolina$53,024$25.49489
40Rhode Island$58,058$27.9143
41Indiana$53,324$25.64271
42Alaska$49,875$23.9828
43West Virginia$56,636$27.2336
44Maryland$59,523$28.62199
45Missouri$54,006$25.96209
46District of Columbia$52,551$25.2666
47Oklahoma$51,751$24.88111
48Tennessee$54,894$26.39132
49Colorado$53,670$25.80198
50Michigan$50,037$24.06282
51Montana$46,448$22.3342

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#6. Neurosurgery

Neurosurgery is one of the highest-paid residency programs.

It is a medical specialty that specializes in the surgical and nonsurgical management, prevention, diagnosis, evaluation, treatment, critical care, and rehabilitation of disorders affecting the central, peripheral, and autonomic nervous systems, as well as their supporting structures and vascular supply, as well as the surgical and nonsurgical management of pain.

As a result, neurosurgery includes the modern treatment of disorders of the brain, meninges, skull, and their blood supply, including the extra cranial, carotid, and vertebral arteries; pituitary gland disorders; spinal cord, meninges, and spine disorders; cranial and spinal nerve disorders throughout their distributions; and autonomic nervous system disorders. 

A minimum of six years of postgraduate study is required, including at least one year in a program recognized for the development of core clinical skills, as well as at least six months of structured educational experience in surgery other than neurosurgery.

#7. Invasive cardiology

Cardiologists treat patients in the latter stages of heart failure and those in need of heart transplants.

They use blood flow, blood pressure, and other health markers to measure heart function and cardiovascular health. They use invasive techniques to detect and treat heart and peripheral vascular diseases.

Invasive cardiologists use catheterization and angioplasty procedures to detect if there is a blockage in blood arteries in the heart. 

Interventional cardiologists must undergo an additional year of training after completing a general internal medicine residency and a cardiovascular disease fellowship; this training is often completed immediately following a cardiovascular disease fellowship. 

They will spend an extra seven to eight years of training after graduating from medical school to specialize in invasive cardiology. They will also need to finish an internal medicine certification if they wish to become board-certified as a cardiologist.

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#8. Orthopedic surgery

Orthopedic Surgery is one of the highest-paid residency programs. It is a medical and surgical specialty that focuses on the research and prevention of musculoskeletal illnesses, disorders, and injuries, as well as their treatment by medicinal, surgical, and physical means. 

A minimum of 5 years of postgraduate education is required for training. 

Following completion of an orthopedic surgery residency program, subspecialty/fellowship training is available in adult reconstructive orthopedics, foot and ankle orthopedics, hand surgery, musculoskeletal oncology, orthopedic sports medicine, orthopedic spine surgery, orthopedic trauma, and pediatric orthopedics. 

#9. Urology

A urologist is a doctor who diagnoses and treats urinary system problems. Patients who require treatment for bladder, urethra, ureters, kidneys, or adrenal gland problems are often referred to a urologist.

Female urology is concerned with the female reproductive system and urinary tract diseases.

The urologist diagnoses and treats problems with the epididymis, penis, prostate, seminal vesicles, and testes in males.

To become a urologist, you must first get a four-year medical degree, followed by four years of specialized medical school study.

Urologist education, like those of other disciplines of medicine, is comprehensive. It takes a total of 13 years of study and education, with board certification taking an additional two to five years. 

#10. Dermatology

Dermatology is one of the highest paid residency programs with a broad field that includes illnesses and diseases of the skin, mucous membranes, hair, and nails, as well as a variety of sexually transmitted diseases.

Acne, warts, various inflammatory dermatomes, skin malignancies, autoimmune disorders, occupational dermatomes, and contact dermatitis are just a few of the ailments that dermatologists treat.

The treatment includes everything from conducting a wide range of surgical treatments (such as excisions, sclerotherapy, laser surgery, liposuction, hair transplants, and tissue augmentation therapies) to caring for normal skin, preventing skin illnesses, and malignancies, and treating photoaging skin.

 A minimum of four years of postgraduate education is required for training. A broad-based clinical year of training in an approved institution must be completed before entering a three-year dermatology residency program.

Four-year training curriculum must include a broad-based clinical experience in the first year, as well as three years of dermatological study in the second through fourth years.

Dermatopathology subspecialty/fellowship training is offered after finishing a dermatological residency training program; this specific qualification certification can be achieved after being certified in dermatology, pathology, or both and completing a year of training in dermatopathology.

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Conclusion

Residents are compensated according to their postgraduate year, not their specialty.

As a trainee, the longer the residency or extended fellowship, the more they are paid.

If they work for the same company, a third-year medicine resident and a third-year neurosurgery resident get the same pay. They may have varied educational stipends, which can range from hundreds to thousands of dollars. 

Every resident at a particular hospital gets paid the same amount, with the only difference being their current year of training. This also applies to accredited fellows.

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FAQs

Which residency programs pay the most?

According to ziprecruiter.com, Emergency Medicine Residency, Anesthesiology Residency, Medical Physicist Residency, Family Medicine Residency, and Internal Medicine Residency, with an average annual salary of $69,500.

What is the most competitive residency program?

Orthopedic Surgery 
Neurological Surgery 
Plastic Surgery 
Otolaryngology 
Dermatology 
Radiation Oncology 

Why do residents get paid so little?

Resident doctors are most likely paid “so little” in the United States since Medicare supports a major portion of residency program financing, and Medicare payments (for training residents) have been stagnant since 1997.
Other microeconomic issues come into play as well. 

What is the longest residency program?

The period of residence is mostly determined by the subject of study chosen by the graduate.

Medical disciplines such as family medicine and internal medicine frequently need three years, whereas surgery typically requires at least five years, with neurological surgery being the longest at seven years.

What is the easiest residency?

Family medicine, psychiatry, and pediatrics are the most accessible. Psychiatry is the simplest to navigate, followed by Family Medicine and PM&R. However, it is dependent on one's personality.

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