First-Year Resident Physician Salary: Base Pay, Benefits, and Total Compensation (2024)

Resident salaries are set by institutions, not market forces, and vary modestly by specialty and region.

Base Salary (2023–2024 Academic Year Estimates)

• National median: ~$62,000–$65,000
• Range: $58,000 (rural primary care) to $72,000 (high-cost urban, competitive specialties)
• Annual increase: ~$2,000–$3,000 per PGY level

Common Benefits (Value $10,000–$25,000+)

• Health/dental/vision insurance (often subsidized)
• Malpractice coverage
• Meal stipends/card ($10–$30/day)
• Housing allowance (varies widely; rare in high-cost areas)
• CME/education fund ($500–$2,000)
• Parking/transit subsidies
• Life/disability insurance
• Wellness programs

Total Compensation Estimate

$75,000–$95,000 when benefits valued. Loan forgiveness programs (PSLF, NHSC, military) add significant long-term value.

Key Context

• Residents are employees, not students—labor laws apply.
• Duty hours capped at 80/week (ACGME).
• Moonlighting (extra clinical work) may supplement income (program permitting).
• Post-residency attending salaries: $200,000–$400,000+ depending on specialty.

Check specific program websites for exact figures.