Resident and intern salaries: can tracking our progress help us understand our future?

Abstract

Salaries apportioned to veterinary interns and residents have been historically low. The impact of this financial strain on the lives and career choices of young veterinarians has recently been evaluated. Subsequent effects of low remuneration are not limited to simple personal finances; rather, the implications may be more far-reaching, including playing a role in mental and physical wellness, affecting diversity in various segments of the profession, influencing career paths, creating barriers to educational and professional opportunities, and shaping decisions regarding family. We evaluated progress made in salaries offered for positions listed in the Veterinary Internship and Residency Matching Program between the previous analysis in 2021 and at present for the 2023 match. In addition to considering financial improvements, we discuss potential drivers contributing to change, including recent documentation of living wage requirements relative to salaries, labor market forces, and the increasingly competitive salaries offered through other career paths. We also consider implications for increasing intern and resident compensation; besides well-being, diversity, career path, and family factors, we discuss the potential relationship of postgraduate educational programs to hospital revenues and implications for how educational program structure may be affected. While compensation is far from the only element that drives career selection or satisfaction, understanding the effects of a fiscal overhaul to this educational experience can play a critical role in solving components of the workforce issues in our profession.