Stipends & Benefits
July 1, 2012 to June 30, 2013
Stipends for Residents
Residents are paid monthly for a total of 12 stipend checks each academic year (direct deposit available/encouraged). Stipend rates are reviewed annually in March of each year, and may be adjusted in July if economic situations dictate. The current guaranteed rates are listed below:
- PGY 1: $51,271
- PGY 2: $52,684
- PGY 3: $54,095
Pay Periods and Paydays
All residents will be paid monthly for a total of twelve paychecks per year. Direct deposit of stipend checks is available.
Professional Liability Insurance
Professional liability insurance covering medical activities clearly defined within the scope of the residency training program is provided by the school at no cost to the resident.
Term life insurance equal to the annual stipend to the nearest high thousand is available the date the resident actually commences duties. The proceeds of the policy are payable to the resident's estate or beneficiary as the resident may name.
Federal social security (old age and survivor's insurance) is deducted from every paycheck and deposited to the resident's credit with the federal government according to federal legislation. Eastern Virginia Medical School matches the contribution made by you to the federal government. Foreign nationals with "J-Status" visas are required to have a social security number; however, if true copies of the "J-Status" visa are presented prior to employment, no social security deductions and/or contributions will be made.
Long term disability insurance is equal to sixty percent (60%) of the gross salary when combined with social security and other benefits.
Vacations and Leaves
Residents are authorized three weeks of vacation per academic year. Vacations must be scheduled sufficiently in advance to allow for rotation scheduling. The amount of vacation that can be taken at one time shall be determined by the specific program director.
No vacation will be authorized during the week preceding the final contract date, the last week in June or the first week in July.
Sick leave may be authorized with full pay and benefits for a period not to exceed four weeks. The granting of educational leave shall be at the discretion and with the approval of the individual program director and generally is not deducted from vacation time.
Hospital Medical and Major Medical Insurance
Eastern Virginia Medical School provides group health insurance through Blue Cross/Blue Shield and Major Medical Protection plan for the resident and his/her immediate family.
* Other health plans and dental insurance are available at an additional charge to the resident.
* Coverage becomes effective 30 days after enrollment (employment).