The American Veterinary Medical Association (AVMA) recently released two reports that offer data on the veterinary medical profession—the 2013 Report on Veterinary Compensation and the 2013 Report on Veterinary Practice Business Measures.
The Report on Veterinary Compensation provides information, including professional earnings in private practice, and public and corporate employment; earnings by years of experience, region and gender; employee fringe benefits; and income per hour. For example, this year’s report indicates that in 2011, which is the year of the survey, median income for private practitioners was $100,000—$88,000 for associate veterinarians and $124,000 for practice owners. In addition, the report found that the median professional income of veterinarians in public or corporate employment was $124,000 in 2011.
The Report on Veterinary Practice Business Measures provides data and trends including gross veterinary revenue statistics, financial returns and ratios in veterinary practice, key practice operating expense ratios, and revenues according to service categories. The 2013 report indicates that the median gross practice revenue was $728,640 in 2011.
The AVMA has conducted an economic survey of U.S. veterinarians every two years since 1984 and the data from this survey provides reliable statistics on veterinary earnings and salaries. The AVMA’s Report on Veterinary Practice Business Measures and Report on Veterinary Compensation each contain dozens of tables and figures of statistical tabulations along with summaries of key findings.
For more information about the AVMA or to purchase a copy of the reports, visit www.avma.org.