Question about income for vets

[DropkickMurphy]

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I was talking to my fiancee's father and one of his friends is an equine vet. He mentioned that this vet makes good money- supposedly "as much as you'll make as an MD". This sounds a little bit excessive since all the statistics I had seen (and it's been several years) stated that most vets don't even crack $100K a year (not sure if this is correct or not). Can anyone help me out by providing me with more recent figures for all of the veterinary specialties? I'm not really interested in veterinary medicine, but I am interested in knowing the truth. Thanks everyone..... 👍

 

[chris03333]

I was talking to my fiancee's father and one of his friends is an equine vet. He mentioned that this vet makes good money- supposedly "as much as you'll make as an MD". This sounds a little bit excessive since all the statistics I had seen (and it's been several years) stated that most vets don't even crack $100K a year (not sure if this is correct or not). Can anyone help me out by providing me with more recent figures for all of the veterinary specialties? I'm not really interested in veterinary medicine, but I am interested in knowing the truth. Thanks everyone..... 👍

An Established Equine Vet can make a lot more than $100,000 per year. I think you can find averages for most specialties on the avma website www.avma.org

 

[Bill59]

This will obviously depend on a number of factors, such as private practice vs. other, years of experience, owner vs. associate, etc.

But in general (from Economic Report on Veterinarians & Veterinarian Practices -- updated 2005):

Median income before taxes for US veterinarians:
Private clinical practice, small animal exclusive: $80,500
Private clinical practice, large animal exclusive: $ 86,500
Private clinical practice, mixed animal: $71,500
College or University: $95,500
Industry: $119,500

 

[frozen_canadian]

It is possible. The vet in our (small) town is heavily involved in signing export papers for shipping pigs south to the US, in addition to running his own practice. He claims to make $1000/day doing this, and has just built a $850,000 house. Its right next to the doctors house and is at least twice the size! So depending on your speciality and area of practice, good money is very possible.

 

[pathognomonic]

Graduated DVM in 2000 - first job as an associate veterinarian mixed animal practice rural New York - $50,000

Now - associate veterinarian small animal practice rural California - $85,000

Would like to do a residency, but hard to justify putting my family through it for an extra 15-20K per year.

 

[DropkickMurphy]

What does an "industry" vet do precisely?

I can't honestly believe that given all you go through to become a vet and are not better reimbursed for it. How much of a debt do you all average after school?

 

[frozen_canadian]

What does an "industry" vet do precisely?

I can't honestly believe that given all you go through to become a vet and are not better reimbursed for it. How much of a debt do you all average after school?

As with med school, debt level depends on where you go. I researched the US schools because I wasn't sure of my chances here in canada - and some of them charge upwards of $40,000 a year in tuition. I have heard of some people coming out with close to $250,000 in debt. Thankfully I won't have that problem (cheers to $7000 tuition!) but I would imagine that for some people this debt load is quite a hurdle. I honestly do not know if it is justifiable, unless you have a guaranteed very good paying job for when you come out.

 

[Bill59]

What does an "industry" vet do precisely?

There are a number of specific jobs in industry, including:

1. Research and Development: Perform research to bring new products to the market, including clinical trials and safety studies of new drugs in development.

2. Laboratory Animal Veterinarians: Supervise animal research protocols and procedures at companies with research laboratories.

3. Technical Support: Interact with veterinarians and consumers with technical, product-specific questions, assisting with difficult medical cases, pharmacovigilance (adverse reaction investigation and reporting), and other technical questions.

4. Field Veterinarians: These doctors are responsible for technical training of the sales reps, presentations at dinner meetings, assisting sales reps with sales calls, and calling on veterinary schools and private practice specialists.

5. Regulatory Affairs: Serve as liaisons between the company and the FDA, assuring that all policies and procedures comply with federally-mandated regulations.

Realize that some of these jobs require advanced degrees or training beyond a DVM, for example a residency and board-certification for lab animal and MS or PhD for R&D.

 

[weeziefive]

I worked at a hospital that paid their interns on a commission basis and most of them made around $100,000. It was also a hospital that had animals with bills as much as 25,000 or more.

For what I want to go into. Pathology. I could possibly break 100,000 after doing 2-3 years of a residency getting paid maybe 35,000(less than what friends make w/a BS), but for me the money is not the issue. Yes, I want enough to live comfortably and pay those wonderful loans off with, but I have watched too many people go into work hating each day. And for myself, I want a career, something that I will not regret doing each and every day. But everyone is different. And if you want more money, then yeah go ahead and get it. Its just not what is suited for me.

 

[PerfectBrak]

Yes, I want enough to live comfortably and pay those wonderful loans off with, but I have watched too many people go into work hating each day. And for myself, I want a career, something that I will not regret doing each and every day. But everyone is different. And if you want more money, then yeah go ahead and get it. Its just not what is suited for me.

Just wanted to pop in and say I totally agree with this. For me its not about the money, but having a job I love.

 

[pathognomonic]

It does tend to become more about the money when you can't pay your bills. Having to choose between paying student loans on time and being able to buy a house is not much fun. If you have to go into debt to attend veterinary school, you may be unpleasantly surprised by your debt to income ratio after graduation.

 

[weeziefive]

It does tend to become more about the money when you can't pay your bills. Having to choose between paying student loans on time and being able to buy a house is not much fun. If you have to go into debt to attend veterinary school, you may be unpleasantly surprised by your debt to income ratio after graduation.

Believe me. I know that my debt will be really high. But its worth eating Top Romen for awhile. 🙂

 

[PsychoLulu]

Yes, I want enough to live comfortably and pay those wonderful loans off with, but I have watched too many people go into work hating each day. And for myself, I want a career, something that I will not regret doing each and every day.

Bingo!!!! I totall agree, Weezie! It's all about my waking up every workday with a eat-s**t grin on my face, while a majority of the rest of the working society hits the snooze button and wished it was the weekend.
(As far as my debt is concerned - that's what I invest in Manhattan real estate for! Thankfullly I didn't let the years that made me an "older" applicant go completely to waste.....)

 

[giles]

Hey pathognomonic, how's life as a vet now you've been out there for a few years? Any thoughts on job satisfaction, stress levels, hours worked, career choice etc?

Graduated DVM in 2000 - first job as an associate veterinarian mixed animal practice rural New York - $50,000 Now - associate veterinarian small animal practice rural California - $85,000 Would like to do a residency, but hard to justify putting my family through it for an extra 15-20K per year.

And just so's I don't hijack the thread, here're some more earnings figures, taken from the US Dept of Labor (http://www.bls.gov/oco/ocos076.htm). Similar to Bill59's.

Median annual earnings of veterinarians were $66,590 in May 2004. The middle 50 percent earned between $51,420 and $88,060. The lowest 10 percent earned less than $39,020, and the highest 10 percent earned more than $118,430.

According to a survey by the American Veterinary Medical Association, average starting salaries of veterinary medical college graduates in 2004 varied by type of practice as follows:
Small animals, predominantly $50,878
Small animals, exclusively 50,703
Large animals, exclusively 50,403
Private clinical practice 49,635
Large animals, predominantly 48,529
Mixed animals 47,704
Equine (horses) 38,628

The average annual salary for veterinarians in the Federal Government in nonsupervisory, supervisory, and managerial positions was $78,769 in 2005.