Veterinary salary estimator gets an update
New model and latest data strengthen a trusted tool
The AVMA’s veterinary salary estimator, which helps veterinary students and early-career veterinarians explore different employment scenarios and prepare for salary negotiations, has undergone a data update to make it even more helpful to the profession.
A new economic model provides more granular detail, and the tool also has been updated with the latest data available.
Long a trusted resource to guide salary conversations, budgeting, and financial planning, the Veterinary Salary Estimator uses historical data to provide approximate salary ranges for graduating students and early-career veterinarians. It's the perfect tool for veterinarians in the first six years after graduation. (Salaries for veterinarians who have been in the workforce longer are too variable to be estimated this way.)
What’s new in the estimator
Here are some of the improvements incorporated into the updated estimator:
- Salaries are now estimated by state instead of a broader region made up of four or five states. The more specific filter will give you a more accurate starting salary range.
- Data used in the calculations now includes 2020 salary information. The timelier data will also produce a more accurate estimate.
- The overall data model also has been improved, to yield more accuracy.
Current veterinary students also can expect to see additional benefits:
- We’ve added more explanatory variables, which can give you a more accurate estimate of starting salaries in your selected scenario.
- You can now see a range of starting salary offers received by people in your selected scenario, so you can better estimate your potential salary options.
Understanding your results
The information in the veterinary salary estimator is based on historical averages, so it’s an indicator of what has been, rather than what should be. It doesn’t reflect real-time conditions in the job market, nor account for individual differences in skills and experience.
An important part of any salary negotiation is to pinpoint your unique proficiencies and talents and include them in discussions with your current or potential employer. A salary estimator based on recent data—as this one is—can be one important tool in your job search and negotiations.
Ready to explore the updated salary estimator? If you’re a veterinarian who graduated within the last six years, get started on MyVeterinaryLife.com.
Current veterinary students should use the student salary estimator.
Comments
veterinary salary indicator
I don’t know where you are getting these high salary averages from. I am a practice owner and I barely make what you are estimating a new grad gets. totally unrealistic.
RE: veterinary salary indicator
Hi Dr. Duffus. Thanks for reaching out. We appreciate your feedback. To answer your question, the estimator is based on data collected from the AVMA Senior Survey which reports starting salaries as provided by new graduates. This comprises responses from over 4,000 survey participants whose graduation dates range from 2012 through 2020. The statistically significant factors in the estimator are years of experience (up to six years), geographic location of the practice, practice type, additional qualifications (i.e. board-certified or practice owner) and number of hours worked per week.
Salaries
Why on earth are you limiting access to vets out of school over 6 years?
As a practice owner, this information is vital to me. As a member, for over 30 years, this seems very unfair!
RE: Salaries
Hello Dr. Hassinger. Thanks for reaching out. The veterinary salary calculator can be accessed by anyone and access is not limited to any specific career segment. If you are referring to why we do not estimate salaries beyond 6 years, it’s because the models predict very poorly beyond that threshold and a salary estimator is not very helpful in those scenarios. We hope that helps answer your question.
Salaries
Do these salary estimates include benefits such as health insurance, CE allowance and other items?
Salaries
It's a sign of the times, I guess, that new grads are just interested in salaries rather than more info on starting their own practice or becoming a member of an existing practice, sharing the ups and downs of practice income rather than the upfront security of a salary which places all the financial risk of the union with the practice owner. I think they will miss something I had.
Salaries
I also am wondering if the estimated salaries are total package compensation including CE and benefits? I see someone else asked that question, but do not see an answer.
For those shocked at what…
For those shocked at what recent grads are receiving/expecting up front need to dive deeper into the debt load these students come out of school with. Some of these tuitions are border line predatory when you look at the financial situation veterinarians are in vs peers in other medical professions. The universities and accreditation group that pushes for more private for profit veterinary schools need some accountability as does the federal governments for it's irresponsible lending that props up these universities tuitions.
To address these issues the private practice (corporate and privately owned) will have to tackle the issues while the talking heads at the universities and government do nothing of substance. As a practice owner who competes successfully against corporate run and older well established clinics comes down to the business management itself. What are the practice owners need to look at is inefficiencies in there practices, focus on team building and paying staff and veterinarians livable wages that makes for a productive/incentivized group. At a minimum look at inflation and at least raise your prices 7-12% today to meet the costs you don't realize your clinic and your people are paying to exist (many older clinics myself and friends worked for prior to ownership hadn't raised prices in +10years). Clients look at care and experience over price. It's perceived value. We are worth our time. None of us go to school to drive a Porsche, but no one is going to enter the profession paying off student loan debt this they retire making 60k/yr. Cultivate that in your practice and you can easily raise rates to afford these new expected wages.
Salary Expectations
I am sorry, but I have to disagree with you on some of your points. Yes, tuition is out of control. Yes, the current student loan system is severely broken. Yes, thinking that ANY politician is going to fix ANY problem is ludicrous. However, a new grad with 0 experience in the real world with a salary expectation exceeding 120k? No thank you! Doubt that number? Do a resume search! Most of the 2023 resume posting are in that area. Some are even higher. These are students that have to yet pass state/national boards and are trying to lock up these kinds of salaries with Vet school supplied lawyers writing iron-clad contracts. Students that will take 30 minutes to neuter a cat! For a 2 doctor, mixed animal practice in a rural setting, no thank you. I would turn business away and reduce my growth before I overpay by that much.
salary
What is the going rate for an emergency veterinarian ( not residency trained) practicing for 20 years?
Veterinary Salary Estimator
I thought the veterinary salary estimator would pull up several questions for me to answer, eg: location, size of practice, small animal, large animal, number of veterinarians, etc. and, voila, it would give me several compensation scenarios to look at for my locale, as I am looking at a new graduate coming aboard a 2 veterinarian, successful, small animal practice that's 36 years old. The page explains what the estimator is, along with several comments from readers, but no estimator! I can't find it anywhere on the website, no matte what I type in the search bar.....Very frustrating.
RE: Veterinary Salary Estimator
Hello Dr. Broussard. Thank you for reaching out and we apologize for any frustration this may have caused. Here are the direct links to the Veterinary Salary Estimators:
Student salary estimator: https://myvetlife.avma.org/current-student/your-financial-health/veteri…
New veterinarian salary estimator: https://myvetlife.avma.org/new-veterinarian/your-financial-health/veter…
Rising professional salary estimator: https://myvetlife.avma.org/rising-professional/your-financial-health/ve…
Add New Comment