What is the debt:salary ratio upon exiting vet school in AU?
Typical debts (considering those also raked up during the bachelor's degree) exceed an average of 150,000 for vet school plus another average of 50,000 for bachelor's degrees, so 200,000 in debts is very typical (especially when considering accrued and
compound interest of 6.5-8.5% per annum on average).
The average starting salary is about 65,000 for a general practitioner (much less for large animal vets). That gives a ratio of about 3:1 debt to starting salary; meaning about 20 years of loan repayments after graduation for the average student unless they sacrifice quite a bit in the beginning to try and nullify compound interest.
I'd really like to see sunstorm's citation on her/his claim that 2/3 graduate w/o debt. I ahve never heard such a thing and have always read the opposite...see this for example (note it DOES NOT include undergraduate debts, so the figures ARE higher):
http://www.avma.org/onlnews/javma/jun09/090601m.asp
All those numbers increase for private schools and out of state students by A LOT.
The problem is, even 20 years ago the ratio was closer to 1:1.
I think the current financial issue is one MAJOR factor in the depression vet students and especially working professionals may feel. It's quite discouraging that you study for 8 years and get paid as much as some union plumbers do who went to a 2 year vocational school right out of high-school or on a closer example, someone who goes to a Physician's Assistne program for 2 years and comes out with an average starting salary of close to $100k!!!
I'm not so much complaining about the salary as I am about the sacrificies one must endure for so little payoff financially and time-wise; that's why I support the 5 year program.