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Same stipend. Different hours. Wildly different hourly wages. Within any given hospital, PGY-1 residents earn the same salary regardless of specialty — but weekly workload varies from 45 to 85 hours. That alone is enough to turn one fixed paycheck into an effective wage that ranges from $15.76/hour to $29.06/hour. Nearly a 2× gap for the same paycheck.
The range of effective hourly wages for a first-year resident across specialties, based on the national average PGY-1 stipend of $68,000. For reference, Target's starting wage is $15.00/hour, and federal minimum wage is $7.25/hour.
Based on PGY-1 stipend of $68,000 ÷ (weekly hours × 52 weeks)
Source: Medscape Resident Salary & Debt Report 2025 + ACGME duty-hour averages
| PGY Year | Annual Stipend | Gain vs. PGY-1 |
|---|---|---|
| PGY-1 | $68,000 | — |
| PGY-2 | $70,000 | +$2,000 |
| PGY-3 | $72,000 | +$4,000 |
| PGY-4 | $75,500 | +$7,500 |
| PGY-5 | $79,000 | +$11,000 |
| PGY-6 | $82,000 | +$14,000 |
| PGY-7 | $85,000 | +$17,000 |
Source: Medscape Resident Salary & Debt Report 2025 (national average)
Gross stipend across training. Does NOT account for loan interest accruing on ~$223,130 of average medical school debt at 7.5%.
$223,130
Avg med school debt at graduation
$16,735
Annual interest accrual at 7.5%
Source: AAMC Class of 2025 Debt, Costs, and Loan Repayment Fact Card
| Job | Hourly Rate |
|---|---|
| Federal minimum wage | $7.25/hr |
| Target / Starbucks starting floor | $15.00/hr |
| California minimum wage (2026) | $16.90/hr |
| NYC / Long Island minimum wage (2026) | $17.00/hr |
| Lowest-end resident (high-hour surgical) | $15.76/hr |
| Highest-end resident (lower-hour specialties) | $29.06/hr |
Source: BLS May 2024 · Target/Starbucks 2025 base pay
Stipends vary by institution and region — programs in high-cost cities pay more, and some specialties receive small premiums in some systems. The numbers above use national averages from Medscape's 2025 Resident Salary & Debt Report. Hours per week reflect typical ACGME duty-hour reporting and AAMC specialty workload surveys; individual programs may differ. Hourly wages are computed as stipend ÷ (weekly hours × 52), which assumes no unpaid vacation time. Real hourly wages are likely lower once pre-round prep, charting, and educational time are counted.
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