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As of August 01, 2026, the average salary for a First Year Resident in New Mexico is $68,555 per year, which breaks down to an hourly rate of $33.
However, a First Year Resident's salary can vary significantly. Here’s a look at the typical salary range:
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First Year Resident Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $76,103 | $6,342 | $1,464 | $37 |
| Average | $68,555 | $5,713 | $1,318 | $33 |
| 25th Percentile | $60,411 | $5,034 | $1,162 | $29 |
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A First Year Resident's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location and company size can directly affect your earning potential.
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract First Year Residents. For example, consider the average annual salaries in these key locations:
Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:
For First Year Resident roles, the industry you choose can impact your earning potential by as much as 40% (the gap between the highest and lowest paying industries). Data shows that the highest-paying industry, Insurance, offers compensation 20% above the average. Conversely, First Year Resident positions in Edu., Gov't. & Nonprofit typically offer lower base pay, as this sector often view First Year Resident as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Insurance | $82,267 | $40.0 | 20% |
Understanding how a First Year Resident's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $76,103 | $6,342 | $1,464 | $37 |
| Average | $68,555 | $5,713 | $1,318 | $33 |
| 25th Percentile | $60,411 | $5,034 | $1,162 | $29 |
Ready to take the next step in your career? Browse thousands of current First Year Resident job openings on our job board. Use the search bar below to find your perfect match.
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Salary.com salary estimates, histograms, trends, and comparisons are derived from both employer job postings and third-party data sources. We also provide multiple percentiles of salary information for your reference, click here to know Why the Salary Midpoint Formula Is Crucial to Getting Pay Equity Right. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
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