Medical Post-Graduate Compensation and Benefit Structure
FY27 (2026-2027) – GMEC Approved 12.4.25
North Iowa Waterloo Program – Family Medicine
MercyOne Waterloo Medical Center Podiatry Program
| Post-Graduate Year | Annual Salary |
| 1 | $67,000 |
| 2 | $68,500 |
| 3 | $70,000 |
| Chief Resident | +$2200.00/yr paid per pay period |
| Core Benefit Program | Eligible |
| Benefits Effective Date | Upon first day of employment |
| Sign-on bonus | $1,400 sign-on bonus for the initial year of employment |
| Time Off | 21 days away from training, which includes six paid holidays, vacation, sick leave, compassionate leave, and emergencies. |
| CME – Days/Amounts | See below for specifics |
| CME coverage | Courses, reference materials, board review courses, educational software |
| Other training covered by the program | Required In-training Service exams |
| Meal Allowance | See below for specifics |
| Dues, Memberships and Licenses | Iowa Medical License ($502.00), DEA ($888.00), Iowa Controlled Substance ($137.00), American Medical Association/Iowa Medical Society, AOA, IM or AAFP membership, required certification classes, i.e., BLS ($80.00), ACLS ($260.00). For awareness, some renewal expenses will require you to pay them and submit a reimbursement to Workday. Employer will pay for all state of Iowa licenses and processes required to obtain a license (resident and permanent) for Physician. Board Wizard license for 3rd year podiatry residents is a reimbursable expense. FM question banks are provided for residents by the program. |
| Step 3 Reimbursement | Residents may get reimbursed for cost of Step 3 by providing documentation of a Step 3 Passing Score and payment receipt to Program Director on or before December 31st of PGY2 Year. |
| All medical, dental, vision, life, etc. | You will be provided with a benefits guide that outlines the details of insurance available to you and your immediate family. |
| Jackets | 1 white coat and one fleece. |
| Visa | May have up to $700.00 in Visa expenses that will be reimbursed upon employment. |
Per Program:
| Benefit | PGY | FM & Podiatry Residency |
| CME $/Days |
PGY1 PGY2 PGY3 |
$300 and 5 days $600 and 5 days $600 and 5 days |
| Meal & Residency Expenses Allowance | All PGY | $1,200.00 / yr, paid per pay period so you can purchase food anywhere you’d like or payroll deduct in the cafeteria. PGY-1 Stipend - $1700.00 / yr paid as you come into residency – usually, 1st or 2nd payroll. PGY-2 & 3 Stipend - $500.00 as you transfer to the next year of residency expenses. – usually, 1st or 2nd payroll after you transition. |
