Residency pay

[yaah]

---

Members do not see this ad.

In case anyone is curious...(I was very curious about this last year).

Got my monthly paycheck today. (Yearly pay about 38,500, fairly standard around the US +/- one to two thousand). Not really a secret since everyone gets the same.

Gross: 3198.58
Net pay: 2440.07 (monthly)
Taxes going to pay for grandma's Vasotec and Fosomax, Grandpa's Viagra and hernia surgery, the political campaigns, politician salaries, the Patriot Act, the President's motorcade, Laura Bush's hairdo, copies of all the bills on vital national issues like preventing gay marriage and making sure everyone can have an AK-47, new planes for bombing people, new studies to figure out how to protect the environment, more studies on how to ensure that trial lawyers become more successful, money for welfare, etc: 683.12.

This excludes deductions for parking, dental, vision (thank god!), health care. Different programs deduct different amounts. We have a good deal here though, basically free health care (if you're single).

So there you go. I would wager at most residencies around the country you would net about 2200-2700 monthly, depending of course on other factors such as whether the state you are in screws you with more taxes or not.

 

[Formalin]

I

 

[b&ierstiefel]

I agree. It's ridiculous to think you need to be in any area where the cost of living is so high. At some point, you gotta stop pissing away $$$ and it's not like there's as much fat cash in medicine anymore for an eventual payoff. Plus, there are far too many reputable to prestigious path programs in affordable areas to even give a thought to places that don't truly adjust for the cost of living (like Stanford). Places in NYC say they're subsidizing, but they're still giving you the shaft. And those programs are not even close to being the best in the country.

I remember applying to Cornell MSTP. In retrospect, I did it for sh1ts and giggles cuz I had no intention of living in NYC. Rent enough is pissing away cash that you'll never ever see again. Shoot I pissed so much money away living in Ann Arbor for the last 6 years. So now I sit here thinking, I wanna buy a condo or a house when I go train in pathology residency (wherever that shall take me). Now applying to any NYC program seems ridiculous. Either pay 100 billion dollars for a down payment or piss away 1 million dollars per month paying rent for a closet on the upper east side.

 

[yaah]

I remember applying to Cornell MSTP. In retrospect, I did it for sh1ts and giggles cuz I had no intention of living in NYC. Rent enough is pissing away cash that you'll never ever see again. Shoot I pissed so much money away living in Ann Arbor for the last 6 years. So now I sit here thinking, I wanna buy a condo or a house when I go train in pathology residency (wherever that shall take me). Now applying to any NYC program seems ridiculous. Either pay 100 billion dollars for a down payment or piss away 1 million dollars per month paying rent for a closet on the upper east side.

Yeah, after 5 years in Worcester I kind of wished I had bought instead of rented. At least if you are throwing money at a mortgage you are earning equity as you go and you get some tax benefits.

If you go to Boston, it ain't much better. $250k for a studio "condo" might be about right. Actually, that might be a bit steep. But Boston is bad, mmmkay? Parking is expensive, mmmkay?

 

[deschutes]

When I am a resident, I will have:

1) A thing on four wheels that you put gas in and it runs. I don't care what sort of thing.
2) An apartment on the top floor - and I will crank the volume and do the stomping this time, ya hear!?
3) A Sony hi-fi stereo, and Beethoven, and Butthole Surfers - to help me with #2
4) 2.9cents/g striped gel toothpaste instead of 1.5cents/g gritty toothpaste
5) Seafood dinners every weekend, baby!

 

[DrBloodmoney]

Well then I won't rub in the military resident pay. 😀

 

[yaah]

4) 2.9cents/g striped gel toothpaste instead of 1.5cents/g gritty toothpaste

Dozens of Americans just read this and went, 😕 ? 😕

I didn't know you could buy tooth-paste by the gram. Here we have to buy it by the tube, although they do have a set price per weight. They use the weight on the tube though, and I have no doubt they line it with lead or manganese or something hefty.

Yeah, resident life is sweet. I have my nice smooth tooth-paste and real soap! No more putting the hospital bathroom soap in a plastic bag to bring home! Seafood dinners I can do without. They don't have good seafood in Calgary? 😕 Calgary is to seafood as Boston is to Mexican, right?

I also agree Beethoven can be good stomping music. A little of the 3rd, the 5th, and the 9th. I find Prokofiev is very good for scaring neighbors. Or blasting german opera. They have no idea what's going on.

 

[Matte Kudesai]

I also agree Beethoven can be good stomping music. A little of the 3rd, the 5th, and the 9th. I find Prokofiev is very good for scaring neighbors. Or blasting german opera. They have no idea what's going on.

I like Scriabin. Especially Sonata 1..... I can stomp, stomp, stomp..... even on bowel duty.

 

[stormjen]

How's the cost of living in Ann Arbor? Could a resident afford a house there?

 

[yaah]

How's the cost of living in Ann Arbor? Could a resident afford a house there?

Residents buy houses. Ann Arbor itself is a bit expensive, might be tough. There are lots of condo complexes in the surrounding area though. And the outlying towns have a lot of great deals on houses. You can buy a house in Ypsilanti for under $200 k easy.

I could have bought a house instead of a condo, for example, but didn't. Ann Arbor is more expensive than other places in the midwest but compared to massachusetts and new york city area, it's cheap.

 

[deschutes]

I didn't know you could buy tooth-paste by the gram. Here we have to buy it by the tube, although they do have a set price per weight.

It IS bought by the tube. You can tell I'm an impoverished medical student when I actually pay attention to the price per weight on the Club Price yellow labels at Safeway.

I used to waste a lot of time wondering which best butter to buy.
Or if I could get by with stealing those tiny cups of butter that came with breakfast catering around the hospital.

They don't have good seafood in Calgary? 😕 Calgary is to seafood as Boston is to Mexican, right?

Geography, yaah. Calgary is Alberta. Alberta is beef!

Alberta has no coastline. It's prairies and the Rockies.
They have Red Lobster. Even I cook better.

Beethoven... Ever since seeing Kalichstein-Laredo-Robinson in concert, I have come to worship the Trios. The Gassenhauer, heaven.

When I am a resident, I will buy a CD a week.

 

[Matte Kudesai]

http://www.legalseafoods.com/shop/search_results.asp?keyword=LSXCAT1&category_name=Lobster+Packages

Have it shipped to your door. Yumm Yumm

 

[yaah]

Geography, yaah. Calgary is Alberta. Alberta is beef!
Alberta has no coastline. It's prairies and the Rockies.
They have Red Lobster. Even I cook better.

I know my geography. Just a little joke. I like the name Banff. I know about the stampede, the Saddledome, Edmonton, all the skiing. Never been, but maybe someday!

Like Mexican food in Boston or Chinese food in Ireland. Do they have Long John Silvers?

Beethoven... Ever since seeing Kalichstein-Laredo-Robinson in concert, I have come to worship the Trios. The Gassenhauer, heaven.

Try the string quartets - they were among the last things Beethoven composed (on his death bed, even) and are considered by many to be the pinnacle of his art. The "Grosse Fugue" for example.

 

[deschutes]

I know my geography. Just a little joke.

I know 😛 I was pulling your leg. I've always wanted to post that bumper sticker!

 

[scott]

Hm. There seem to be a lot of Canadians around here. I'm from Winnipeg originally. Speaking provincially-- it is hard to get "Canadian prairies"-quality beef around Boston. But the seafood makes up for that to some degree.

Scott

 

[deschutes]

There seem to be a lot of Canadians around here. I'm from Winnipeg originally.

Really?? *looks around* I think it's just you!
Canada is a great country. Me, I'm merely transiting through. A citizen of the world, so to speak. 🙄

Speaking provincially-- it is hard to get "Canadian prairies"-quality beef around Boston. But the seafood makes up for that to some degree.

I would not know. I'm only an occasional beef-eater, and Stampede breakfasts were the first time I learnt to eat Alberta beef burgers sandwiched between pancakes and doused heftily in maple syrup! Not sure if they were meant to be eaten that way, but I had only one plate and the three items sort of Venn-diagrammed themselves.

Damn I'm going to miss this place.

 

[scott]

Ha! I've never had that kind of pancake contraption, deschutes. Syrup on beef? Well, I'm glad you've been having a good time there.

Re: other Canadians, I guess I selectively remembered some older messages from way back in this forum.

Just for the sake of continuing a residency salary theme for this thread, I have looked up the figures for Stanford and UCSF. Stanford pays around $43,000 plus $8,400 housing bonus, while UCSF pays around $43,000 plus about $4,000. No question, though, they are in expensive places.

Scott

 

[yaah]

Just for the sake of continuing a residency salary theme for this thread, I have looked up the figures for Stanford and UCSF. Stanford pays around $43,000 plus $8,400 housing bonus, while UCSF pays around $43,000 plus about $4,000. No question, though, they are in expensive places.

I would wonder if the $8400 is a one time deal or a yearly addition to the paycheck. MGH for example gives new residents $1000 to cover first months rent. Michigan gives $3000 extra per year (in addition to the normal salary) intended to be used for investment purposes, although you can just take the cash.

So nice to hear people who like eating steak. Lots of veg-heads in my current department. Nothing wrong with that of course, but I could never live as a vegetarian.

The Capital Grill in Boston is a great place for steak. I think it's on Newbury St.

 

[scott]

The $8400 is guaranteed for each year, and there is an additional $3000 or so as a one-time thing for the first-year residents to help with moving and getting a place. So it sounds like they're trying to do something to buffer the serious cost-of-living problems out there.

 

[QuietSylph]

Most other residency specialties seem to offer free meals/dry cleaning/PDAs etc. for their residents -- but do path residents get this sort of plus too? Any specifics on which programs are more generous than others? (I'm looking at finances and thinking it'll be another poverty-stricken four years.) 🙁

 

[Matte Kudesai]

Most other residency specialties seem to offer free meals/dry cleaning/PDAs etc. for their residents -- but do path residents get this sort of plus too? Any specifics on which programs are more generous than others? (I'm looking at finances and thinking it'll be another poverty-stricken four years.) 🙁

My program provides all three (a sweet palm pilot, dry cleaning, and meals). I also get a 1,250 book stipend per year as well as a separate 1,000 dollar conference stipend.

The department pays for parking as well.

750 dollars of the book stipend can be rolled over to the next year.

 

[deschutes]

My program provides all three (a sweet palm pilot, dry cleaning, and meals). I also get a 1,250 book stipend per year as well as a separate 1,000 dollar conference stipend.

The department pays for parking as well.

750 dollars of the book stipend can be rolled over to the next year.

Such riches! Such bountiful bequest! *weeps* That's it, I'm going to Ohio.

 

[yaah]

Such riches! Such bountiful bequest! *weeps* That's it, I'm going to Ohio.

OK...try this.

We get
1) Laptop computer (not technically ours, but ours to use and keep with us for the length of residency) + all software and jump drive.
2) Free Surg path and Clin path texts, as well as some of the staging manuals and a blood bank manual 1st year
3) Free health care
4) $3000 bonus every november in addition to salary
5) Significant meal pay whenever you are on call or doing certain rotations (surg path, blood bank). Works out to be quite a deal.
6) Conference attendance is paid for if you have a poster/presentation, although you can go to one free of charge without presenting.

Not sure about the dry cleaning...

U Iowa has some nice benefits, particularly on the health care front. So does Utah.

 

[Matte Kudesai]

you can use the 1,250 for books or a computer. Every resident has their own desktop for the duration of the residency.

 

[b&ierstiefel]

you can use the 1,250 for books or a computer. Every resident has their own desktop for the duration of the residency.

I'd use that money to buy a year supply of cheesy poofs.

 

[yaah]

I'd use that money to buy a year supply of cheesy poofs.

No kitty those are my cheesy poofs! No kitty that's a bad kitty!

 

[b&ierstiefel]

No kitty those are my cheesy poofs! No kitty that's a bad kitty!

i thought it was pot pie?

Cartman: maam, kitty's being a dildo!
Mom: well it looks like a certain kitty kitty is gonna be sleeping with mommy tonight.
Cartman: eh?

 

[yaah]

It was pot pie. But it works well for Cheesy Poofs as well.

Cartman rules. I love the episode where the class goes to Costa Rica and he rips on it the whole time.

 

[b&ierstiefel]

It was pot pie. But it works well for Cheesy Poofs as well.

Cartman rules. I love the episode where the class goes to Costa Rica and he rips on it the whole time.

Then there's the Scott Tennerman episode..."na na na na nana! i made you eat your parents."

 

[PathProspect]

Yaah or any MGH resident:

Does MGH really give residents $1000 for first month rent?????

I would wonder if the $8400 is a one time deal or a yearly addition to the paycheck. MGH for example gives new residents $1000 to cover first months rent. Michigan gives $3000 extra per year (in addition to the normal salary) intended to be used for investment purposes, although you can just take the cash.

So nice to hear people who like eating steak. Lots of veg-heads in my current department. Nothing wrong with that of course, but I could never live as a vegetarian.

The Capital Grill in Boston is a great place for steak. I think it's on Newbury St.

 

[b&ierstiefel]

Yaah or any MGH resident:

Does MGH really give residents $1000 for first month rent?????

I never heard this advertised when I interviewed at MGH. Perhaps Mindy or one of the folks on SDN who matched at MGH this year (you know who you are 😉 ) can clarify things.

MGH, Brigham, and BIDMC (I think) are part of the whole Partners healthcare system. Perhaps yaah was referring to the Guarantor program. Basically to sign a lease in Boston, you have to put down first month's rent, last month's rent, and a fee equivalent to up to one month's rent. So you can see that when you sign the lease, you could be writing a hefty check of $4000-5000. The Guaranter program will help you out so that you don't have to write a check for that insane amount...then you get a certain amount deducted from your paycheck which is my understanding. But I never heard of either MGH, Brigham, or BIDMC giving you money for free like that. On the other hand, Stanford does give you free money when you join. UCSF also does a great job of supplementing your monthly pay as well. I think they also give a one time startup fund like Stanford but I may be wrong there.

 

[yaah]

When I interviewed there, MGH told me they provided $1000 towards your first month's rent or mortgage. But I don't know whether it was a loan or part of your salary which was given to you early or it was merely an extra $1000. I didn't get into specifics with them.

 

[b&ierstiefel]

When I interviewed there, MGH told me they provided $1000 towards your first month's rent or mortgage. But I don't know whether it was a loan or part of your salary which was given to you early or it was merely an extra $1000. I didn't get into specifics with them.

of course not. you live first class. you are first class.

this is chump change for ya.

 

[caffeinegirl]

I'm pretty sure that it's the Loan Guaranty program that yaah was mentioning...no other housing perks for MGH.
Plus, all members of the Partners program (MGH, BWH, BIDMC) get the same employment benefits and salary. Not sure about conference/book stipend, which varies by department.

I never heard this advertised when I interviewed at MGH. Perhaps Mindy or one of the folks on SDN who matched at MGH this year (you know who you are 😉 ) can clarify things.

MGH, Brigham, and BIDMC (I think) are part of the whole Partners healthcare system. Perhaps yaah was referring to the Guarantor program. Basically to sign a lease in Boston, you have to put down first month's rent, last month's rent, and a fee equivalent to up to one month's rent. So you can see that when you sign the lease, you could be writing a hefty check of $4000-5000. The Guaranter program will help you out so that you don't have to write a check for that insane amount...then you get a certain amount deducted from your paycheck which is my understanding. But I never heard of either MGH, Brigham, or BIDMC giving you money for free like that. On the other hand, Stanford does give you free money when you join. UCSF also does a great job of supplementing your monthly pay as well. I think they also give a one time startup fund like Stanford but I may be wrong there.

 

[b&ierstiefel]

I'm pretty sure that it's the Loan Guaranty program that yaah was mentioning...no other housing perks for MGH.
Plus, all members of the Partners program (MGH, BWH, BIDMC) get the same employment benefits and salary. Not sure about conference/book stipend, which varies by department.

yeah, that's what i figured...yaah be talkin' outta his ass again, smokin' crack, or doing something...

seriously though, that loan guaranty program is a big help if you think about it. sure, it's not free money in that you have to pay them back...but think of it as a hefty $4000 financial aid program. it's like, "let's put our deposit on layaway."

 

[caffeinegirl]

So true! It helps a ton when starting out..since currently I'm still on the "negative salary" side of the game. Any help counts.
Of course, it's not Stanford who does give away free money 🙂
But the yearly salary is definitely doable in Boston

yeah, that's what i figured...yaah be talkin' outta his ass again, smokin' crack, or doing something...

seriously though, that loan guaranty program is a big help if you think about it. sure, it's not free money in that you have to pay them back...but think of it as a hefty $4000 financial aid program. it's like, "let's put our deposit on layaway."

 

[b&ierstiefel]

So true! It helps a ton when starting out..since currently I'm still on the "negative salary" side of the game. Any help counts.
Of course, it's not Stanford who does give away free money 🙂
But the yearly salary is definitely doable in Boston

Most definitely the $47K is doable even though the rent there is just flat out ridiculous! Have you looked for or secured a place yet?

 

[caffeinegirl]

Most definitely the $47K is doable even though the rent there is just flat out ridiculous! Have you looked for or secured a place yet?

Rent is ridiculous...more so around the MGH area compared to Longwood. Finally found a place steps away from the hospital 😀
Oh, I saw that you're figuring out whether to buy or rent in Beantown, well around the Longwood area, buying is definitely an option! Good luck with the search

 

[b&ierstiefel]

I got a buddy there who is a PGY-1. He pays a sick amount for his small studio apartment in Beacon Hill (I think). But he is also walking distance from MGH. There's a kickass pub nearby...so I guess he pays for proximity (to the pub that is ). Major congrats on securing a place though...I know that the rental market is just damn craaaaazyyyyy. 😀

Buying is the option I took. Closing on a condo in JP next month. P.I.+real estate tax+condo fees end up coming out to a little under $2000/month.

Given that we make $47K as PGY-1's which amounts to gross monthly pay of $3916.67, do you have any clue as to what take home pay will be? I suck at calculating that stuff.

Addendum: I just looked at yaah's pay figures (Gross: 3198.58 Net pay: 2440.07). That means he takes home around 76%. Since we're in the same tax bracket, maybe we will take home $3916.67*0.76=just under $3000. I doubt the tax scale is linear and can be simplified down to simple division/multiplication and state taxes may be different. But hopefully ~$3000 is in the ballpark.

 

[PathProspect]

Try the calculator on the following website: http://www.paycheckcity.com/netpaycalc/netpaycalculator.asp

I got a buddy there who is a PGY-1. He pays a sick amount for his small studio apartment in Beacon Hill (I think). But he is also walking distance from MGH. There's a kickass pub nearby...so I guess he pays for proximity (to the pub that is ). Major congrats on securing a place though...I know that the rental market is just damn craaaaazyyyyy. 😀

Buying is the option I took. Closing on a condo in JP next month. P.I.+real estate tax+condo fees end up coming out to a little under $2000/month.

Given that we make $47K as PGY-1's which amounts to gross monthly pay of $3916.67, do you have any clue as to what take home pay will be? I suck at calculating that stuff.

Addendum: I just looked at yaah's pay figures (Gross: 3198.58 Net pay: 2440.07). That means he takes home around 76%. Since we're in the same tax bracket, maybe we will take home $3916.67*0.76=just under $3000. I doubt the tax scale is linear and can be simplified down to simple division/multiplication and state taxes may be different. But hopefully ~$3000 is in the ballpark.

 

[b&ierstiefel]

Try the calculator on the following website: http://www.paycheckcity.com/netpaycalc/netpaycalculator.asp

Thanks! Looks like I was off by about $140 That's about 30 beers. Damn.

Thanks Massachusetts for showing my wallet who's daddy!

 

[caffeinegirl]

Congrats on the condo Andy!
$2000 is a great deal...for me it would have cost more in mortgage than rent if I were to have bought a place around the hospital...so renting was what I had to settle with.
Another thing that kills you in boston is parking... $250/month for covered parking! yikes!!
Things just keep adding up!

 

[b&ierstiefel]

Congrats on the condo Andy!
$2000 is a great deal...for me it would have cost more in mortgage than rent if I were to have bought a place around the hospital...so renting was what I had to settle with.
Another thing that kills you in boston is parking... $250/month for covered parking! yikes!!
Things just keep adding up!

Word. I don't have deeded parking at my condo. I just have to park my cah on the street and move it seldomly. Looks like I'll be taking the 39 bus to work each day. I don't feel like spending extra money to park at the hospital given the $900/month budget I'll be living on. Ah...compromises, compromises.

You gonna be bringin' a car still? Given how ridiculous parking costs, it's good that you're renting a place that's walking distance from the hospital.

 

[caffeinegirl]

Ahh the caah

Still trying to figure that one out...
street parking is great, but wouldn't want to get submerged with snow after the street is plowed..especially if next winter's going to be a replay of this year! But luckily there's always the bus and T. It's going to be great to be in a city with mass transport that works more than sometimes 🙂

 

[b&ierstiefel]

Ahh the caah

Still trying to figure that one out...
street parking is great, but wouldn't want to get submerged with snow after the street is plowed..especially if next winter's going to be a replay of this year! But luckily there's always the bus and T. It's going to be great to be in a city with mass transport that works more than sometimes 🙂

Word. I'm gonna scope out the situation for a few months. If I feel I don't need a car, I might ditch it back home during a holiday or vacation and then fly back into town. Flights between BWI and Boston are dirt cheap. It's the Detroit<->Boston flights that kill me.

The T is awesome. When I interviewed at MGH and Brigham, that's all I used. And it was cheap!

 

[yaah]

Andy it also depends on how much they give you in terms of benefits. I have about $60-$75 total per month taken out pre tax for parking, medical, dental, and vision, as well as the occasional house officer union dues.

My salary fyi is now higher than 2440.07 per month. We got a new contract and a raise - it's over $2500 now, and when I start PGY2 it will go up more.

But yeah your yearly is higher than mine, so you probably will get closer to $2800 or so per month. It is taxachusetts though.

 

[b&ierstiefel]

Andy it also depends on how much they give you in terms of benefits. I have about $60-$75 total per month taken out pre tax for parking, medical, dental, and vision, as well as the occasional house officer union dues.

My salary fyi is now higher than 2440.07 per month. We got a new contract and a raise - it's over $2500 now, and when I start PGY2 it will go up more.

But yeah your yearly is higher than mine, so you probably will get closer to $2800 or so per month. It is taxachusetts though.

oooh...look at dr. multitasker extraordinaire...posting on rSDN and SDN simulateneously. impressive.

anyway yeah, i might be getting paid more than you per month but i have less money to play with per month. and now you're telling me that they're gonna subtract more money from my gross pay. oh well. like i said before, i just have to get past the first year, then i'll be doing much better financially.

 

[yaah]

Well, I dunno if they will subtract it or not. Some places give you basically free healthcare and parking. As far as I can remember though the harvarduh programs are not like this, but I might be wrong.

 

[SLUsagar]

got my packet of info from stanford a while back....

I'm very happy about the $$$ they give for housing compensation...

but i'm just ecstatic about their:
"academic year payment"
which entails that all residents will receive a one-time $1000 payment with funds designed to cover cell phone charges [can you hear me now?......hell yah i can!], mileage, and meals while on duty.

 

[LADoc00]

got my packet of info from stanford a while back....

I'm very happy about the $$$ they give for housing compensation...

but i'm just ecstatic about their:
"academic year payment"
which entails that all residents will receive a one-time $1000 payment with funds designed to cover cell phone charges [can you hear me now?......hell yah i can!], mileage, and meals while on duty.

Dude are you serious? Youre coming from STL? I used to live on Kingshighway (!White castle!) and I used to live in the bay area, trust me that 1K that housing money ISNT JACK SHIAT compared to extra $$$ spent in Cali.

Although I will openly admit as a young resident who never made much money (growing up a double wide trailer and all), I thought this $$$ was kewl as well.*SAT ANALOGY #358: That is like thanking someone for shoving a 2 foot dildo up your ass because they could've used a firehose.