Money.

[katezebra]

Hey everyone,

I know the average veterinarian's salary is somewhere around 85-100k/year. I know that vet school loans will cost 200-300k. So I'm curious, once you're working and you factor loans into the equation, what does your actual salary look like? Does it feel more like you make $40k/year? $60k/year? $20k/year?

Honestly I've been reading the threads here and am very concerned about the amount of debt required for vet school and the fact that most people struggle with it.

I want to be a vet because I love animals, but... if I'm going to be broke all the time anyway, I almost wonder if it wouldn't be better to just cut out the middle man and pursue a lower-wage animal-related career (ie. zookeeper, wildlife rehab, animal shelter, etc).

Thoughts?

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[twelvetigers]

Hey everyone,

I know the average veterinarian's salary is somewhere around 85-100k/year. I know that vet school loans will cost 200-300k. So I'm curious, once you're working and you factor loans into the equation, what does your actual salary look like? Does it feel more like you make $40k/year? $60k/year? $20k/year?

Honestly I've been reading the threads here and am very concerned about the amount of debt required for vet school and the fact that most people struggle with it.

I want to be a vet because I love animals, but... if I'm going to be broke all the time anyway, I almost wonder if it wouldn't be better to just cut out the middle man and pursue a lower-wage animal-related career (ie. zookeeper, wildlife rehab, animal shelter, etc).

Thoughts?

The average new graduate's salary is more like $55-75k a year, I would say. Debt also varies, probably closer to a $150k average. You can plan ahead and find the cheapest school for you, maybe even move and gain residency in another state, and then work to make it happen. Then you can keep the debt lower. But it's extra work and it would have to be worth it to you to go through those extra steps.

The salary is going to depend a lot too - like I make less than the average, but I could probably find another job if I tried hard enough. I'm just okay where I am for now. OTher factors will include the area you are in, cost of living, benefits, corporate vs. non-corporate, and obviously whether you do small animal, large animal, equine, mixed...

Wanting to be a vet "because you love animals" is all well and good, but there is a lot (lot lot lot) more to it than that. Have you shadowed at a vet clinic? That would be a good first step here - shadow some vets and talk to them, see what you think about the field. Get their input. Remember that anyone that graduated before 1995 or so had it a lot easier as far as loans and job markets are concerned.

 

[Osudairy]

The average new graduate's salary is more like $55-75k a year, I would say. Debt also varies, probably closer to a $150k average. You can plan ahead and find the cheapest school for you, maybe even move and gain residency in another state, and then work to make it happen. Then you can keep the debt lower. But it's extra work and it would have to be worth it to you to go through those extra steps.

The salary is going to depend a lot too - like I make less than the average, but I could probably find another job if I tried hard enough. I'm just okay where I am for now. OTher factors will include the area you are in, cost of living, benefits, corporate vs. non-corporate, and obviously whether you do small animal, large animal, equine, mixed...

Wanting to be a vet "because you love animals" is all well and good, but there is a lot (lot lot lot) more to it than that. Have you shadowed at a vet clinic? That would be a good first step here - shadow some vets and talk to them, see what you think about the field. Get their input. Remember that anyone that graduated before 1995 or so had it a lot easier as far as loans and job markets are concerned.

This. The vet I've been working for is still paying on her loans and she even has a pretty good salary. Everybody going into vet med loves animals - that's a given. You should do some soul searching and see if it is what you really want to be doing in 10+ years and if it is worth the high debt-to-income ratio. If your motivation is salary-related then there are definitely other jobs out there that pay more.

 

[katezebra]

Sorry. I didn't mean to make it sound like I'm new to this game. I have worked in vet clinics and I know there is more to it than loving animals.

I don't think my original post made it sound like I only care about income.... I even mentioned the possibility of pursuing a lower-wage career.

The point I'm trying to make here is that I want to love what I do, but if I'm barely scraping by either way, I think I can find something I love just as much as being vet and not bother with four years of expensive schooling.

I'm trying to find out what the salary is REALLY like considering debt, so that I can get a fair comparison to those other fields I mentioned. Are there any recent graduates who can comment on this?

 

[EngrSC]

A gal I work with is a really talented RVT that works per diem at several hospitals. She works her butt off and is able to make ~$65k/year and doesn't have the debt of vet school. She certainly doesn't live a grand lifestyle but she's not piss poor either. Just thought I'd throw that out there.

 

[thecatastrophist]

The answer to that is going to differ by person. While most graduates nowadays are graduating with a high debt:income ratio, what that means depends on how much you took out exactly, what repayment plan you choose, if you have a spouse whose income makes repayment easier, or if you chose to do an internship or residency. A financial adviser and some research will give you a more realistic perspective on how your experience after school will be than someone's personal experience.

 

[katezebra]

The answer to that is going to differ by person. While most graduates nowadays are graduating with a high debt:income ratio, what that means depends on how much you took out exactly, what repayment plan you choose, if you have a spouse whose income makes repayment easier, or if you chose to do an internship or residency. A financial adviser and some research will give you a more realistic perspective on how your experience after school will be than someone's personal experience.

 

[katezebra]

Thank you catastrophist, that is good advice!

 

[wheelin2vetmed]

it's a gas
Grab that cash with both hands and make a stash

 

[twelvetigers]

 

[hazelmoo]

Mo' money, mo' problems

 

[battie]

Mo' money, mo' problems

 

[rockatiel]

There's a picture somewhere on the interwebs with a guy flashing his cash in his hand and I think it's actually like 10 $1 bills. I'm still a prevet and that's actually me.

 

[deleted676737]

There's a picture somewhere on the interwebs with a guy flashing his cash in his hand and I think it's actually like 10 $1 bills. I'm still a prevet and that's actually me.

That's me, too. I've only ever had minimum wage jobs, and all of my animal/veterinary experiences were 100% unpaid. I get the feeling poor!

 

[cowgirla]

It may help to run some numbers yourself.

Take the average starting salary for your desired field/location.
Remember that you lose a chunk to taxes. Calculate your monthly take home pay.

Guesstimate your total debt at your in state school or run a worst case scenario out of state cost.

Calculate your monthly payments on a repayment plan. Subtract from take home pay.

Then, remember that you have to pay for housing, car, utilities, insurance, etc. and then remember you have to eat. And ideally save for emergencies/retirement.

Look at the number that's left and decide if that works for you. 65-75K might sound like a lot but it can disappear quick.

 

[alohacat319]

marry rich-- problem solved.

 

[Minnerbelle]

I'm trying to find out what the salary is REALLY like considering debt, so that I can get a fair comparison to those other fields I mentioned. Are there any recent graduates who can comment on this?

As has been said, it all really depends on your personal circumstances.

How much debt you start out with plays a huge role. I know people who graduated with none, and I know people who graduated with 400k in the hole. The higher the debt, the more hopeless it becomes because the monthly interest alone at 6.8% makes it almost impossible to pay down your principal.

Then you have to consider the ins and outs.

How much income you have (and do you have support from a SO or other family?). If you do an internship, it really screws you over because you get ****ty pay which results in your debt ballooning over the course of the year. Depending on where you practice, your income may be drastically different. In some practices, GP associates can easily earn over $100k/yr. In other practices, it's hard to even justify a $70k/yr salary.

How much money do you need to live on? Depends a lot on cost of living and living situation. Someone living at home with their parents rent free in a low cost of living area will have minimal needs. A single mother in San Francisco is going to need a heck of a lot more.




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[SummerTheLynx]

To help supplement what you personally decide upon, I would take a look at this if you haven't done so already, this way you can figure out what is the most amount of debt you are willing to get yourself into:

http://www.vinfoundation.org/AppUti...357&objecttypeid=10&redirectFromMiscDefault=1