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.
Read the full story HERE: https://www.avma.org/news/veterinary-starting-salaries-rise-2023-educational-debt-holds-steady