Source: EquiManagement
The 2024 AVMA/AAEP Economic Report highlights a significant satisfaction gap between equine Veterinary practice owners and associates. Owners reported higher satisfaction with job (81%), lifestyle (72%), and compensation (74%) compared to associates (50%, 48%, and 54%, respectively). Notably, 21–29% of associates expressed dissatisfaction across various categories, while only 7–14% of owners did. Practice ownership is linked to greater financial success, with owners earning $65,000 more annually than associates, even after adjusting for other factors.
Ownership also provides autonomy, allowing veterinarians to shape practice culture, services, and work-life balance. Despite these benefits, ownership is declining, falling from 43% in 2007 to 33% in 2019, partly due to corporate consolidation. Meanwhile, over 60% of equine veterinarians who graduated since 2000 are considering leaving the profession, with associates nearly twice as likely as owners to plan an exit. Promoting practice ownership may be key to improving retention and satisfaction in equine Veterinary medicine.