Navigating the Discrepancy: How Cost of Living (COL) Adjustments Impact Otolaryngology Residents' Salaries
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2024
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| author | Douglas P. Nanu Hardeep S. Tiwana Deepthi S. Akella Shaun A. Nguyen Sofia Khan Michele M. Carr |
| author_facet | Douglas P. Nanu Hardeep S. Tiwana Deepthi S. Akella Shaun A. Nguyen Sofia Khan Michele M. Carr Douglas P. Nanu Hardeep S. Tiwana Deepthi S. Akella Shaun A. Nguyen Sofia Khan Michele M. Carr |
| collection | Wiley Open Access |
| contents | Navigating the Discrepancy: How Cost of Living (COL) Adjustments Impact Otolaryngology Residents' Salaries Douglas P. Nanu Hardeep S. Tiwana Deepthi S. Akella Shaun A. Nguyen Sofia Khan Michele M. Carr Otolaryngology–Head and Neck Surgery AbstractObjectiveTo compare differences in otolaryngology residents' salaries in different cities and states before and after adjusting for the cost of living.Study DesignCross‐sectional analysis.SettingAccreditation Council for Graduate Medical Education (ACGME) otolaryngology residency program websites.MethodsUS otolaryngology residency programs were identified via the ACGME database in December 2023. Stipends posted by each residency program were compared to the cost of living (COL) for related states and major cities. A baseline value of 100 was used as the mean COL, values over 100 indicate above‐mean COL. The weighted salary by state and cities for postgraduate year (PGY) 1 to 5 combined was expressed as mean (SD). Comparisons between salaries before and after adjustment for the COL were assessed using t tests.ResultsThe mean otolaryngology residency stipend across the nation, by city, was $70,572 (n = 1290, range: $58,100‐$93,402; SD = $8370), with a post‐COL adjustment mean stipend of $64,055 (range: $39,193‐$76,674, SD = $10,094, p < .001). Otolaryngology residents in Manhattan, New York State faced a mean decrease from $89,282 to $39,193 (−56%) post‐COL adjustments. Following that were Boston and Los Angeles programs which saw a −$26,402 (−32%) and −$24,761 (−32%) mean decrease after COL adjustments, respectively.ConclusionOtolaryngology residents in high‐cost areas experience significant salary reductions because of COL adjustments, resulting in financial strain. Residents in such regions endure increased financial pressure compared to those in low‐cost areas, as current salaries fail to align with living expenses. 10.1002/ohn.978 http://onlinelibrary.wiley.com/termsAndConditions#vor |
| doi_str_mv | 10.1002/ohn.978 |
| format | Artículo Open Access |
| id | wiley_oa_10_1002_ohn_978 |
| institution | Wiley Open Access |
| license_str_mv | http://onlinelibrary.wiley.com/termsAndConditions#vor |
| publishDate | 2024 |
| publisher | Wiley |
| record_format | wiley_oa |
| spellingShingle | Navigating the Discrepancy: How Cost of Living (COL) Adjustments Impact Otolaryngology Residents' Salaries Douglas P. Nanu Hardeep S. Tiwana Deepthi S. Akella Shaun A. Nguyen Sofia Khan Michele M. Carr Otolaryngology–Head and Neck Surgery Navigating the Discrepancy: How Cost of Living (COL) Adjustments Impact Otolaryngology Residents' Salaries Douglas P. Nanu Hardeep S. Tiwana Deepthi S. Akella Shaun A. Nguyen Sofia Khan Michele M. Carr Otolaryngology–Head and Neck Surgery AbstractObjectiveTo compare differences in otolaryngology residents' salaries in different cities and states before and after adjusting for the cost of living.Study DesignCross‐sectional analysis.SettingAccreditation Council for Graduate Medical Education (ACGME) otolaryngology residency program websites.MethodsUS otolaryngology residency programs were identified via the ACGME database in December 2023. Stipends posted by each residency program were compared to the cost of living (COL) for related states and major cities. A baseline value of 100 was used as the mean COL, values over 100 indicate above‐mean COL. The weighted salary by state and cities for postgraduate year (PGY) 1 to 5 combined was expressed as mean (SD). Comparisons between salaries before and after adjustment for the COL were assessed using t tests.ResultsThe mean otolaryngology residency stipend across the nation, by city, was $70,572 (n = 1290, range: $58,100‐$93,402; SD = $8370), with a post‐COL adjustment mean stipend of $64,055 (range: $39,193‐$76,674, SD = $10,094, p < .001). Otolaryngology residents in Manhattan, New York State faced a mean decrease from $89,282 to $39,193 (−56%) post‐COL adjustments. Following that were Boston and Los Angeles programs which saw a −$26,402 (−32%) and −$24,761 (−32%) mean decrease after COL adjustments, respectively.ConclusionOtolaryngology residents in high‐cost areas experience significant salary reductions because of COL adjustments, resulting in financial strain. Residents in such regions endure increased financial pressure compared to those in low‐cost areas, as current salaries fail to align with living expenses. 10.1002/ohn.978 http://onlinelibrary.wiley.com/termsAndConditions#vor |
| title | Navigating the Discrepancy: How Cost of Living (COL) Adjustments Impact Otolaryngology Residents' Salaries |
| topic | Otolaryngology–Head and Neck Surgery |
| url | https://aao-hnsfjournals.onlinelibrary.wiley.com/doi/10.1002/ohn.978 |