My FIRST PAYCHECK as a Resident Doctor!
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- Опубликовано: 27 ноя 2024
- There is a huge misconception that ALL doctors make a lot of money. While doctors do earn a substantial salary at the end of their training, I think its important to realize how much they make while in residency. Residency is a 3-5 year period where a medical graduate trains to attain the experience necessary to be a full fledged independent doctor. During that time, you are responsible for paying back the loan amounts that you took out for medical school. Its important to factor in the outstanding education debt amount and compare it to the hours worked vs. the financial compensation received. While this isn't reflective of how much doctors typically make AFTER residency I think its still an enlightening video! So how much money does a doctor actually make during residency?- Watch and Find out!
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Admire the transparency and honesty in this video!
Yeah my program violated all the ACGME rules. They don’t even let us use our sick days. lol I can’t wait till I’m done with residency.
Oh what? There’s a forum that you can report the ACGME violations to- I believe it’s on the ACGME website and it’s anonymous as far as I’m aware. I’m sorry to hear that!
@@ZeelShahMD Good to know that! Yeah they said their sick leave rules override the ACGME rules. I will just anonymously report it. Thank you so much!
Could you give us some directions (lol) in order NOT to rank that program...
Residency pay is trash! We need to fix this.
Agreed
Thank you for sharing this info. Keep on truckin you’ll get there. As far as student loans eventually you’ll pay it off, when you buy a house with a loan it seems a lot of money sometime later it’s paid and you can enjoy life.
Thank you for the encouragement!! ☺️ can’t wait for that! Haha
Love the breakdown and the way you explained it!
15-20 years ago residents were found to make less than minimum wage because of the hours worked. Have a doctor friend who stayed up 44 hours during call.
Lmao I guess we’re making progress? 💪🏽
@@ZeelShahMDDamn, my doctor friend made $30k as R1. He carried $70k in credit card debt outside of his other educational debt.
Oh wow that’s on top of all the medical school loans😩 that’s painful. I’m glad things are changing!
Residency is training period and pay is not great but once you come out of residency it’s pretty good!!!
That’s very true ☺️
Is it true that after residency salary gets better coz taxes are high
Taxes and salary are two separate things. The salary is higher because you’re paid more for your work. The taxes vary depending on a lot of different factors!
Good information! You do such a good job editing your videos and adding cool graphics! 💕💕
so that is 12 years of schooling + 2 years pre-med + 4 years med + 7 years residency = 25 years. If you start at 6 then you complete education by 31 (assuming on gap years). Back Breaking
Yes I suppose the timeline varies depending on which country you’re in since the system is a bit different. Also, residency may be shorter based on the specialty. For instance, most family medicine/internal medicine ones are 3 years. I guess if you choose to specialize then def add a couple more years to it. Overall, it’s definitely a large investment of time
Not a business in the world that has such a high ROI as becoming a Dr.
But that attending video👀👀👀
About the rule of 80 hours /week, my question is:
- Will my residency be shorter or longer if I work more or fewer hours during my residency?
Hey! It has no bearing on the length of your residency. The residency duration is the same regardless
Thank you@@ZeelShahMD
My first resident paycheck: a buck fiddy
My bank account at the time: -$200,000
Oh man! I feel that😭
You made your choice!
Yup! No regrets :) it’s a calling
My Indian resident doctor in usa as 1st year student he earning 64kdollar after all tax 51k dollars per year
Yep that’s accurate in residency!
14 dollars that crazy
when i was an intern , i worked 100 hours minimum a week
Yeah I can imagine! The hours were insane prior to the ACGME changes!
Great video and explanation
but how much do you make after you completed your residency is the real question.
You definitely get a significant pay increase after residency depending on speciality, location and scope of practice. Doctors definitely get paid reasonably well after residency but the video is about the pay DURING residency :)
I mean you do make an awesome paycheck BUT think of the 8 years of basically negative income you got (debt) + 4 years of low-ish residency pay while in any other job you’d only be increasing your net worth through pay and investments. when all is said and done, the lifestyle is still amazing and very comfortable but it isn’t as insane as ppl told you growing up
Well said! 🙂
@@ZeelShahMD yeah, but people don’t care much about residency pay because they know that’s part of the process of becoming a doctor, they want to know the end result AFTER they reach their goal. that’s what they will be making years after completing their residency. I think you should focus on that instead.
@@damienblack1734 That's definitely very true but I do think its important to know how much you'll be making during training so you can financially plan. I agree though- it just a part of the journey!
Should get paid like a PA or APRN
Man, that is ROUGH!! And you have to pay on your student loans at the same time I assume, that’s poverty levels.
Yup you def still have to pay your student loans at the same time🥲
How many years of residency are you required to do?
Family medicine is a 3 year program
Hi, in wich country are you!
United States!
Are the 80h/week or 100h/week paid as such? Are you paid the same regardless of the hours?
You’re paid the same regardless of the hours because it’s a salary position and there’s no “over time”. According to the ACGME rules, you’re not supposed to go over 80hrs/week so you should not be having 100hrs/week as it’s a violation
Thanks for sharing ❤
$250k for a $500k x 30 yrs return… yeah that’s a GREAT investment.
$14 is too much for the horrific advice and poor care my loved one suffered at a hospital. I've had a small business--though unusual, we typically wouldn't make anything if the client wasn't happy with our services. Many professions and businesses have leaner times or areas where they "loose" money.
I’m so sorry to hear about your experience and can only imagine how difficult that would have been for your family. There are definitely ways to deal with negligence if you believe that it occurred in your situation. I would recommend reaching out to patient advocacy for that hospital to help you with this matter.
Criminal pay
And once you finish your residency, you earn like $500000 per year right?
Not really lmao it would be nice though!
Not trying to be ugly, but the amazing thing is to consider how much LIGHTER those hours are than they were when I did it a million years ago. Of course the pay has increased as well, but so has inflation, The bottom line is that residents make basically enough to live on with no frills, etc. And the interest on those debts accrues during residency for most people. THe salaries skyrocket when you finish residency or fellowship, but for some of us, that is as much as 15 years of post high school education and training at no or minimal salary.
Agreed!
I can't even with yall. You make more than most of your peers who work harder than you with no status or praise. *some* of you work longer hours than staff, but lets be real about how many hours yall usually get. For most specialties, its 40-50 hours as you can find in most studies done on this topic. In 3-5 years you will make over 200k. You'll pay off your loan in a few years like any other grad student. Go ask a PhD student what their salary is. Doctors are not hurting financially. Everyone is.
Signed, a med tech who makes about the same as you for the past 8 years. I stg doctors are the most entitled people I've ever met
How did I owe 111k in debt for my undergraduate and grad studies to be an elementary school teacher?
😩😩 that’s insane!!
Yeah as a resident you make crap but I know a family medicine doctor with his own practice and sis he’s paid.
Yep can’t wait ☺️
@@ZeelShahMD 🙏🏿🙏🏿🙏🏿