Residency

Tip of the week: Factors to consider regarding salary and benefits for residents

Residency Program Insider, October 25, 2011

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When delivering your annual report to the sponsoring institution on costs associated with the GME program, consider presenting the answers to the following questions regarding residents’ salaries and benefits:

  • What are the responsibilities of your residents and fellows?
  • Is the salary and benefits package competitive with those of other institutions in the market that might recruit the same applicants?
  • What is the right mix of direct pay and benefits that would communicate your commitment to quality medical education and recruitment?
  • What are the standard benefits for residents in your region?
  • If the hospital hires residents, which benefits received by regular employees should you negotiate for residents?
  • Define the desired work culture or investigate the work culture of the sponsoring institution. Does the pay structure reflect the culture you desire? (Paying below the market may not result in a lower-quality applicant, and paying much higher might draw suspicion that the organization is desperate to recruit.)

This week’s tip is from Insider’s Guide to the ACGME Institutional Review by Josephine Fowler, MD, MS, FAAFP.
 



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