Resident Doctor Financial Challenges Quiz

What is the average salary for a medical resident in the US as of 2023?

• $100,000

• $80,000

• $67,400

• $50,000

How long can residency training last for neurosurgery?

• 9 years

• 7 years

• 3 years

• 5 years

What is the approximate hourly wage for a resident working 70 hours a week with a $60,000 annual salary?

• $13.50

• $20.00

• $23.00

• $16.50

What is the maximum number of hours residents are supposed to work weekly according to the accreditation Council for graduate medical education?

• 60 hours

• 70 hours

• 80 hours

• 90 hours

What is the average student debt for medical school graduates?

• $300,000

• $100,000

• $150,000

• $250,000

How much is the monthly interest on a $250,000 student loan at a 7% interest rate?

• $2,000

• $2,500

• $1,500

• $1,000

What is the average monthly rent across the US?

• $1,000

• $1,600

• $1,200

• $1,400

What percentage of residents feel fairly compensated during their first year of residency?

• 30%

• 25%

• 21%

• 15%

At what stage do 29% of residents report being satisfied with their compensation?

• PGY3

• PGY5

• PGY8

• PGY1

What is a key piece of advice for aspiring physicians concerned about debt?

• Advance financial education early

• Avoid taking any loans

• Focus solely on medical training

• Ignore financial education