Many people don't know how little residents make. I think most people assume that you graduate medical school, you're officially an "MD" and you just sit and wait for the oodles of money to fall into your lap. Not quite.
Let's have a little math lesson:
Undergraduate Education: $20,000
Medical School Education: $180,000
Total Educational Debt: $200,000
That's before Sallie Mae, the hardhearted wench, capitalizes all my interest every 3 months. But, I digress...
Salary of a PGY-1: $39,000 (PGY = post graduate year)
Salary of a PGY-2: $41,000
Salary of a PGY-3: $43,000
Salary of a PGY-4: $45,000
You get the picture. My student loan bill per month would be $900. That's roughly 1/3 of my monthly income! You can't live like this! And - I'm sorry Dolly - residency is not a 9 to 5 job. More like 7 to 8, on a good day. On a bad day it's 6a to 12p...the NEXT day. That's 30 hours. Wait, did I sign up for this?? I guess I did.
I LOVE my job. Love it. I wouldn't trade it for anything. However, it would be nice to make a little bit more, to be able to start paying off my loan debt, to stop living like a starving college student, and to start living like a normal person. Someday, someday.