Source: American Veterinary Medical Association

The graduating class of 2023 in Veterinary medicine is experiencing positive trends, with increasing starting salaries and a steady level of educational debt. The mean debt-to-income ratio for new veterinarians has decreased for the third consecutive year to 1.3-to-1, indicating a debt 1.3 times the graduate’s income. Contributing factors include tuition freezes during the COVID-19 pandemic and higher rates of family assistance.

The mean educational debt for 2023 graduates was $154,451, with two-thirds having less than $200,000 in debt. The majority of graduates (95.7%) received offers of employment or for advanced education, with 68.9% choosing private practice. The mean starting compensation in 2023 was $124,295, with mentorship being a critical factor for graduates in selecting job offers.

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