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So you’ve got your veterinary medicine degree and you’re ready to start practicing. What will your salary be? Veterinarians’ starting salaries vary by state, but on average, most new graduates earn between $60,000 and $72,000 annually. When it comes to mid-career salaries for veterinarians, those in private practice can earn around $100,000 annually.
Starting Salaries For Veterinarians Overview
The average starting salary for veterinarians in 2021 is $68,000, with a range of $50,000 to $80,000. The median hourly wage is $32.73 per hour.
The salary of a veterinarian can vary widely depending on location and specialty. For example, an emergency medicine veterinarian earns an average salary of around $85,000 in their first year, while a small animal practitioner might make closer to $68,000.
In addition to location and specialty, your salary will also be affected by whether you work at a private practice or within a veterinary hospital. Veterinarians employed by hospitals tend to earn more money than those who work in private practices because they are usually paid more per hour; however, the benefits packages offered by hospitals are often less generous than those offered by private practices.
According to the AVMA’s most recent statistics from 2018 (the latest available), the median annual pay for veterinarians overall was $89,000; however this includes veterinary technicians who do not have degrees and only make about half as much as other workers within this field (about $47,000).
What Is the Standard Beginning Salary for a Veterinarian?
If you are an animal lover, have a mind for science and enjoy problem-solving, becoming a veterinarian may be an ideal career choice. Each day brings new challenges and opportunities related to treating pets and livestock. Becoming a veterinarian stretches your mind and your heart, as you try to help ill animals recover. The starting salary for a beginning veterinarian is much higher than the national median wage of $37,040, according to the U.S. Bureau of Labor Statistics (BLS) in 2016. Once established, a veterinarian has the potential to earn over $100,000.
Industry
The BLS reports the annual median pay for a veterinarian was $88,770 or $42.68 per hour in 2016. Veterinarians new to the field may start out making around $52,270. Salary varies by geographical location. Top-paying states include Florida, Ohio, California and New Hampshire and the lowest paying jobs are in Idaho, Louisiana, Iowa and Kansas. Veterinarians engaged in consultation, research, regulatory compliance and zoo animal medicine have the potential to earn the highest salaries. For example, consultants make an average annual salary of $127,630.
Years of Experience
Experience counts in terms of pay and career opportunities for veterinarians. An experienced veterinarian is more likely to have the means to launch an independent clinic. Similarly, experienced veterinarians become known for their work and may be asked to teach, engage in research or serve as a consultant.
Job Growth Trend
The demand for veterinarians will jump 19 percent between 2016 and 2026, which means an additional 15,000 veterinarians will soon be needed in the field of veterinary medicine, according to the BLS. People are increasingly taking advantage of medical advances in veterinary medicine to lengthen the time they have with their pets. In addition, food safety regulatory compliance necessitates closer oversight by veterinarians.
New veterinarians earn average pay of $70,045
The average starting salary for newly graduated veterinarians rose by 6% in 2019 and a record 18% of them entered the profession debt-free, according to a new report from the American Veterinary Medical Association.
The 2020 Economic State of the Veterinary Profession study also reported low unemployment and high rates of job offers among DVM graduates along with a $2,600 gender pay gap.
The average annual starting salary, $70,045, increased from $65,983 in 2018. The highest earners were found in private companion animal exclusive practices, at $90,893. Mixed-animal veterinarians started at an average of $75,391, up $2,300 from 2018, and the typical new equine practitioner took home $53,804, a rise of 3.7%.
While just over 18% of graduates left school with no student debt, the average owed by those who took out loans increased to $183,302. The average for all 2019 graduates was $149,877, a decline of $2,481 from 2018.
The report highlighted what the AVMA called a “staggering” contrast in debt loads by school. The median loan debt ranged from $80,000 for 2019 Texas A&M University graduates to $340,000 at Midwestern University, a private institution.
“The distribution of student debt across colleges … presents an opportunity for colleges to communicate horizontally and share successful strategies to reduce student loan debt,” such as financial counseling and need-based scholarships, the report noted.
The AVMA report included sections on the market for veterinarians, the market for veterinary services and the effects of the COVID-19 pandemic. The report was based on surveys conducted in 2019 and early 2020.
Among other findings:
- Female veterinarians who graduated in 2019 earned an average of $2,600 less a year compared with their male classmates. “Continued focus on reducing the pay gap is needed,” the report stated, “along with education on salary negotiation and the development of policies supporting equitable pay.”
- Wellness exams generate up to 30% of revenue at small practices.
- Millennial employees make up 35% of the veterinary profession.
- As of early 2020, when the pandemic was emerging, over 80% of practices experienced shortages of personal protective equipment and sanitation equipment.
- Over 30% of veterinary practices reported using telemedicine.
AVMA members can download the full report for free at .
