Source: AVMA News
Veterinary salaries have risen in nominal terms, but inflation-adjusted growth has slowed, especially from 2020-2023. New graduates have seen higher starting salaries, averaging $130,000 in 2024, with many also receiving benefits like signing bonuses and student loan repayment. However, established veterinarians’ salaries have stagnated, narrowing the pay gap between them and recent graduates to a 19% difference, compared to 93% in 2001.
Educational debt levels remain high, with an average debt-to-income ratio of 1.4:1 for new veterinarians entering full-time employment. Rising interest rates have ended recent debt relief trends, potentially increasing debt burdens. Demographic data reveals the profession is predominantly female (81% of new graduates) and white (81%), with limited diversity. Most new veterinarians enter companion animal practice, while established practitioners are mostly associates (57%) or practice owners (24%). These insights were discussed by Dr. Chris Doherty at the 2024 AVMA Veterinary Business and Economic Forum.
Read the full story HERE: https://www.avma.org/news/gap-shrinks-between-new-graduate-overall-veterinary-salaries