Salary & Benefits - Psychiatry Residency
Salary for 2023-2024 is listed below. Generally, there is a yearly cost-of-living increase, and it is anticipated that there will be an increase for 2024-2025.
- PGY-1 - $60,557
- PGY-2 - $63,519
- PGY-3 - $66,445
- PGY-4 - $69,177
Residents: 4 weeks of paid leave per academic year.
Personal Wellness Half-Days
Residents are encouraged to take care of their health, both physically and mentally. Depending on the training year, residents are allotted up to 2 days of personal wellness time to blocks for doctor's visits and other needs. Residents who want to pursue psychotherapy outside of their rotations can work with their attendings to find a time that works well for the resident and the service.
Educational Expense Allowance
$250 during each year of residency for educational expenses such as books, medical licensure, or Step 3 registration.
Initial Maryland Medical Licensure
PGY-2 residents who have their initial Maryland medical licensure in hand by June 30 of their PGY-2 year are eligible for reimbursement of half of the cost of obtaining that licensure.
American Board of Psychiatry and Neurology Exam Registration
PGY-4 residents applying for certification by the American Board of Psychiatry and Neurology are eligible for reimbursement of $1,000 of the cost of the exam.
Stipends for National Meeting Presentations
Residents who have their research abstract accepted for publication at a national meeting are eligible for up to $1,500 each year in meeting expense reimbursement.
APA and MPS Membership Dues
The Residency Program pays your APA and MPS dues.
Food, Parking, On-call Rooms, Uniforms and PPE
The Education Office provides a stipend for meals while on-call and for campus parking. While rotating at Mercy Medical Center, all meals are provided. Convenient and safe on-call rooms are readily available at all sites. White coats and scrubs are provided. Residents have easy access to any PPE required for patient care, e.g., N95 masks, face shields, eye guards, elastomeric respirators, gowns, gloves and hand and surface sanitizers. Supplies are abundant.
Details about additional benefits are available through the Office of Graduate Medical Education.
The Department provides upper level residents with optional extra shifts or "moonlighting" opportunities to supplement their salary. Per ACGME, interns are not permitted to moonlight.
Current Contract and GME Policies
Information about the current contract and all GME policies can be found here.