Contract and Compensation

2023-2024 Contract 

  • Contract Signature page – Available to sign in person during orientation. 
  • Annual salary for PGY-1 (2024): $67,808

Income Statistics (from 2020)

Statistics from a current intern who is single

  • Gross pay: $59,063 – Estimated pay every 2 weeks: $2,271.65
  • Net pay after taxes and deductions: $1652.46
  • Taxes average – Federal, State, City, Social Security, Medicare = $471.43
  • Deductions for Medical Insurance: $41.76, Long Term Disability: $3.64, Optional Dental: $2.91, Optional Vision: $3.58

Statistics from a current intern who is married

  • Gross pay: $59,063 – Estimated pay every 2 weeks: $2271.65
  • Net pay after taxes and deductions: $1038.15
  • Taxes average – Federal, State, City, Social Security, Medicare = $286.10
  • Deductions for Medical Insurance: $146.43, Long Term Disability: $3.64, Optional Dental: $16.94, Optional Vision: $7.17

More compensation and tax information

  1. Any tuition paid in 2021 is a tax write off. This includes your second semester tuition payment.
  2. Any payments made on student loan interest is a tax write off. This includes payments made under the Adjusted Income Payment plan.
  3. A single resident with no other capital gains can pay close to 0% federal taxes, assuming that they have no other capital gains (stocks, etc.).