This component will not necessarily determine your career path, but you should be aware of the financial implications of the decisions you make. Listed below are some of the financial considerations you might want to take into account. Obviously, the greater your educational debt, the more important these considerations become. However, programs attempting to attract residents will often offer salaries higher than those offered by programs that have no difficulty in attracting the candidates they want. Some modest salary differences may also be found in large, metropolitan cities on either of the coasts, where the cost of living is higher.
Some programs offer outright financial incentives with no specific purpose attached.
This can be due to the location of the residency and the limited amenities in the surrounding area. Moonlighting cannot take place until after the first year of residency training, when physicians complete the final requirements for licensure. Residents who moonlight can substantially increase their annual income. Moonlighting income is fully taxable and may affect a resident's eligibility for an Economic Hardship Deferment. Some programs forbid moonlighting.