Intern take-home income

[Gute]

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ms4 here, starting to think about finances for next year when we will be making the little bucks. I know what interns usually make annually, but what does that translate to in the check after taxes, social sec, health insurance, and all the other crap comes out? (I have no idea what % that stuff is) in other words, what's the monthly take-home income for an intern?

I know it depends on the state, and the programs salary for interns, but I just want a reasonable estimate and I obviously can't just ask one of my interns about their paycheck.

 

[gutonc]

ms4 here, starting to think about finances for next year when we will be making the little bucks. I know what interns usually make annually, but what does that translate to in the check after taxes, social sec, health insurance, and all the other crap comes out? (I have no idea what % that stuff is) in other words, what's the monthly take-home income for an intern?

I know it depends on the state, and the programs salary for interns, but I just want a reasonable estimate and I obviously can't just ask one of my interns about their paycheck.

Start with what programs you're interested in pay (which you can find on FREIDA or on the program website), then plug it in here, then subtract 10% just for general "getting screwed-ness" and you'll have a decent idea.

 

[penguin24]

Start with what programs you're interested in pay (which you can find on FREIDA or on the program website), then plug it in here, then subtract 10% just for general "getting screwed-ness" and you'll have a decent idea.

I used this website, and it's spot-on for my take home pay intern year. It feels good to actually get paid to be at the hospital, as opposed to paying tuition to be there!

 

[ShyRem]

Things like health insurance vary widely. I had programs that would have my contribution $170 per pay period for my family, others that were as little as $28 per pay period (both were biweekly paychecks). Dental, vision can also vary widely. Ask your programs - most were quite willing to give me the cost of benefits during interview season.

 

[PharmaTope]

lets say they pay you around 45k for the year.

with no 401K contributions, cheap health insurance, you can expect to take home around 1200-1300 every 2 weeks.

 

[Cerberus]

Depends on where you are. In NYC we take it up the rear in taxes.

 

[Doctor Bagel]

Things like health insurance vary widely. I had programs that would have my contribution $170 per pay period for my family, others that were as little as $28 per pay period (both were biweekly paychecks). Dental, vision can also vary widely. Ask your programs - most were quite willing to give me the cost of benefits during interview season.

Very true. I interviewed at one program where residents paid nothing for health care -- no copays, no premiums, nothing! At other programs, you pay like $500/month. Where I'm at, health care and dental for me and the SO is about $200/month, and we still have copays and stuff like that. And yes, state taxes, retirement savings, flexible spending accounts and all that stuff can make a different. Oh yeah, and don't forget parking. Generally free in the midwest/south and pretty spendy elsewhere.

 

[avatarftw]

a

 

[gutonc]

I thought that health insurance was generally free for interns/residents.
Does that include dental insurance and prescriptions? How extensive is health insurance usually for interns/residents? Also, do most programs give you free lunch or breakfast?

You thought wrong. It varies quite widely between cities and even programs within a particular city. Dental, vision and Rx coverage also varies widely.

Food is also a wild card (but not one you should base your decision on). My IM program provides lunch at noon conference daily and breakfast at one MR a week. They also give meal cards for inpatient months at the VA and meal money (on a debit system) for call months at the Univ Hospital. No call...no chow though.

 

[ShyRem]

You thought VERY wrong. VERY few programs cover health dental and/or vision insurance for the intern or even senior residents. Certainly if you have a family be prepared to pay more.

In addition to the WILD variability in how much you pay for insurance, meal coverage is also highly variable. Some programs only covered food if you worked for 24 hours straight, others had unlimited food at the cafeteria. Most give you a certain stipend per shift. This, too, can vary widely. I did a rotation as a student where they gave students and residents $15 PER MEAL that you were on duty for - so if you had rounds at 8am, you got breakfast, lunch, and if you stayed until 5pm you got dinner too. All at $15 EACH. (I can't even eat $15 a day...). My residency gives us $11 per shift. So if you work day shift, you get $11. Cross-cover call at night too - another $11. Stay to clean up stuff and actually go to 26 or heaven forbid 30 hours and you get yet another $11. These are guidelines though and they don't actually keep track too closely. Basically unless we're hitting $25/shift we're fine. I have yet to spend more than $6 for any meal.

 

[Cerberus]

Real compensation is pretty hard to figure out when you are on the interview trail. I personally didn't want compensation to figure into where I ended up training so it wasn't something I paid a lot of attention to. I ended up matching at one of the places with one of the lowest paid places in the city but as I figured out during orientation, it actually evens out since my insurance for my family is entirely free.

Things to look at:
Salary
Insurance copay
educational allowance (do they pay for STEP III, ACLS, ATLS, PALS?)
Parking
Food
Union dues (something I hadn't even thought about until I found out I had to pay them 👎thumbdown)

 

[notinkansas]

I thought that health insurance was generally free for interns/residents.

As others have said, you thought very wrong. Health insurance is almost never free.

In this instance residents are like employees. Generally the employer will offer a couple levels of coverage plans- maybe one that's cheaper but has higher deductables and covers less stuff, and one that costs more but covers more stuff and lower deductables. Then your premium will also vary depending on if you're single, or covering a spouse and/or kids. For now, the premium will be deducted from your pay before taxes.

 

[werd]

estimate... $36,000 takehome pay.

 

[avatarftw]

a

 

[deleted109597]

Its not THAT big a deal if you are a healthy 20 something year old that has no family to support. Its some thousands of dollars and its unfortunate that its not covered but its not the end of the world.

No, it's still a pretty big deal. Because you're forced to buy it. So it takes away money. A significant chunk. And if you have a family, a larger chunk.

 

[Rogue Synapse]

Hm, health insurance (with dental and vision) is totally free at my residency. I thought free insurance was more common. I know it was also free in at least one other program that I interviewed. I never thought too much about it.

 

[PharmaTope]

Hm, health insurance (with dental and vision) is totally free at my residency. I thought free insurance was more common. I know it was also free in at least one other program that I interviewed. I never thought too much about it.

ya some programs do this, others dont.

depends on what your salary is but you can expect to TAKE HOME after taxes 1200-1400 every two weeks.