University of Pennsylvania Medical Center's budget policy for supporting graduate medical education: "Penn Medicine will use standards set by the major third parties as a basis for the budgeting of payment of residents and fellows." All Department of Surgery housestaff on the Penn Medicine payroll will be paid according to their number of years in Medicare-approved Department-recognized clinical surgical training.
FY24 Salary Information
| Clinical Year |
Hourly Rate |
Annual Salary |
| PGY1 |
$ 33.59
|
$ 69,869
|
PGY2
|
$ 34.87
|
$ 72,536
|
PGY3
|
$ 36.57
|
$ 76,062
|
PGY4
|
$ 38.61
|
$ 80,311
|
PGY5
|
$ 39.92
|
$ 83,041
|
PGY6
|
$ 41.60
|
$ 86,534
|
PGY7
|
$ 42.75
|
$ 88,923
|
PGY8
|
$ 43.71
|
$ 90,907
|
| PGY9 |
$ 45.39 |
$ 94,405 |
These stipend rates for housestaff reflect the ongoing institutional commitment to remain competitive within the Northeast region of the country as well as the local market.
Paycheck Distribution
Housestaff are paid biweekly. Housestaff are strongly encouraged to enroll in Direct Deposit by signing up on the Penn for People (intranet link).
Paychecks for individuals who do not use Direct Deposit will be mailed to their home address on file.