Salary, Benefits, & Contracts

Salary

Programs differ in number of years required for completion. However, the annual compensation is the same for each program in each residency year.

Salaries for 2008/2009:

• 1st-year residents: $47,652
• 2nd-year residents: $50,004
• 3rd-year residents: $52,540
• 4th-year residents: $55,182

Housing

You can choose from Hospital-owned apartments for a lower, subsidized cost—if available—or opt to receive a monthly housing allowance.

Perks

• Salary advance up to $2,600
• Educational fund: to $2,500 for first year residents; to $4,000 for advanced residents
• Loan reimbursements for resident graduates joining The Reading Hospital Medical Group
• Three meals a day in the Hospital cafeteria
• On-site child development center
• On-site fitness center
• Free parking
• Stipend for attendance at national meetings
• Free uniforms and laundry service
• Opportunities to attend practice management, medical/legal and procedure seminars
• Option to join credit union and tax-deferred annuity program
• In-training examination fees
• Salary differential if called for jury duty
• Annual licensure renewal fee
• Annual fee to the Catastrophic Loss Fund
• Dues to professional organizations

Vacation and Leave Time

• 1st year residents: two weeks of vacation
• Advanced residents: three weeks of vacation
• 12 days of sick leave each year; can accumulate to 36 days
• 1 week vacation during Christmas or New Year's week

Insurances

• Berkshire Health Plan: preferred provider health plan with prescription coverage for you and your family at a nominal cost or a monthly stipend to supplement existing coverage
• Liability insurance
• Malpractice insurance
• Life insurance equal to your annual stipend
• Long-term disability insurance following 180 days
• Social security
• Workers compensation

Manual and Contract

Click here to view the official resident manual and contract. The manual offers program details, information on pertinent Pennsylvania laws, and descriptions of departments that work with the residency programs. The sample contract is the same as those signed by all Hospital residents.