How Much Do Residents Make at University of New Mexico: A Comprehensive Guide
Have you ever wondered about the earning potential of residents at the University of New Mexico (UNM)? As one of the premier institutions in the state, UNM offers a variety of residency programs across different medical fields. Understanding the financial prospects of these programs can be crucial for aspiring healthcare professionals. Let’s delve into the details and find out how much residents make at UNM.
Residency Programs at UNM
UNM offers a wide range of residency programs, including but not limited to Internal Medicine, Surgery, Pediatrics, Family Medicine, and Psychiatry. Each program has its unique salary structure, which can vary based on factors like the specialty, year of residency, and the specific department.
Salary Structure
According to the American Medical Association (AMA), the average salary for residents at UNM in the 2020-2021 academic year was approximately $62,000. However, this figure can fluctuate based on the factors mentioned earlier.
Yearly Salary Breakdown
Here’s a breakdown of the average yearly salary for residents at UNM across different years of residency:
| Year of Residency | Average Salary |
|---|---|
| First Year | $58,000 |
| Second Year | $59,000 |
| Third Year | $60,000 |
| Fourth Year | $62,000 |
Additional Compensation
Besides the base salary, residents at UNM may receive additional compensation in the form of stipends, travel allowances, and housing subsidies. These benefits can vary depending on the program and the individual’s circumstances.
Factors Affecting Salary
Several factors can influence the salary of residents at UNM:
-
Specialty: Some specialties, like Surgery and Anesthesiology, tend to offer higher salaries compared to others.
-
Year of Residency: As residents progress through their training, their salaries generally increase.
-
Department: Different departments at UNM may have varying salary structures.
Conclusion
Understanding the earning potential of residents at the University of New Mexico is essential for those considering a career in healthcare. While the average salary is around $62,000, it’s important to note that this figure can vary based on several factors. By considering these variables, aspiring healthcare professionals can make informed decisions about their future at UNM.