Here’s the breakdown of what to expect
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Paycheck
The UVA Graduate Medical Education Salary for PGY-1s was set at 61,867 for the 2023-2024 academic year. You get paid every other Friday via direct deposit. This roughly comes out to approximately 1800-1900 dollars every 2 weeks after tax withholding. Above is an example of my payslip from this year as a PGY-3.
UVA is a nonprofit organization, you are given access to a 403(b) retirement account when you start and can elect how much you would like to put in this as well as control the investments if you’d like. These tax advantaged accounts allow you to invest pre-tax dollars. There is no employer match for residents.Click here for more info on your retirement account
If you prefer to do your banking in person, in Charlottesville we have physical locations for; Chase, Bank of America, Truist, Wells Fargo and various local smaller banks and credit unions.
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Insurance
Health insurance through UVA costs ~70 dollars a month for a single person with family being added on at a fairly reasonable cost. The benefit to this is that all of your healthcare if done through a UVA facility is covered beyond that, this can be something as small as a PCP copay or as big as giving birth to your child. As long as it’s through UVA you shouldn’t have to pay at all, just make sure to tell them you’re on the house-staff insurance. Dental insurance is included.
