How much should a veterinarian get paid?
As a full time veterinarian in a single man practice, how much should
I be compensated, based on one of the following three pay practices:
a)Flat Salary
b)Percent of Production + bonus or CE
c)Salary + Percent of production +/- bonus or CE

My role is sole practicing vet and Practice Manager.  I practice,
train all employees, handle ALL Payroll activities, purchase/manage
all inventory orders and accounts payables.
Our practice Grosses $600,000, and my production is about 50% of that.
The other 50% of income comes from boarding, grooming and OTC /
Heartworm and Flea Prev.

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Request for Question Clarification by knowledge_seeker-ga on 18 Jun 2002 08:21 PDT

Hi drlewis, 

I’ve spent a little while researching your question but I’ve come up
with more questions than answers. Rather than give you an answer based
on unknown variables, I’m sure I (or another researcher) could give
you a more accurate answer if you could provide us with the following:

1 ---- Are you the owner of the practice?  Or partner?  Or employee?

2--- Where is the practice located?  Rural?  Suburban?  Major City? 
US? (Cost of living would have a bearing on expected compensation)

3 --- What type of practice is it? (for eg small animal practice
veterinarians tend to earn less than equine practitioners; and
specialty practices i.e exotics pay more.)

4 --- Size of practice in terms of number of employees, clients,
appointments.

I’m confident we’ll be able to help you given all the proper
information.

-K~

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Clarification of Question by drlewis-ga on 18 Jun 2002 09:54 PDT

To give you the additional info your requested:
1 ---- Are you the owner of the practice?  Or partner?  Or employee? 
>>>>>I'm a partner - 1/3 with two other partners. Neither work at this
practice but have their own practices each to himself, which I am in
no way affiliated with. Each of the other partners also owns 1/2 of
the land and building, to whom the practice pays rent to.  I do not
own any of the land and building. Neither of the other two partners
get a salary. We divide profit quarterly evenly amongst the three of
us.  The practice is set up as a Sub S corp.

2--- Where is the practice located?  Rural?  Suburban?  Major City? 
US? (Cost of living would have a bearing on expected compensation)
>>>>> located in Montgoemry, Alabama - Population approx. 250,000 -
300,000
We are an urban practice on the east side of the city, which is the
fastests growing side.  We are in the middle of the most rapid growth
phase at this point.

3 --- What type of practice is it? (for eg small animal practice
veterinarians tend to earn less than equine practitioners; and
specialty practices i.e exotics pay more.)
We see small animals and exotics ( birds, reptiles, pocket pets)
 
4 --- Size of practice in terms of number of employees, clients,
appointments.

>>>>We have 3 full time employees, and 7 part time employees, and one
groomer.  We have approximately  2000 active clients, an average of 20
patients seen per day. Our average invoice is $100.00

Dr. Lewis,

Thanks for your question.  According to the federal government's
Occupational Outlook Handbook, published by the Bureau of Labor
Statistics (February 2002)

http://stats.bls.gov/oco/reprints/ocor008.pdf


"Median annual earnings of veterinarians were $60,910 in 2000. The
middle 50 percent earned between $47,020 and $84,220. The lowest
10 percent earned less than $36,670, and the highest 10 percent
earned more than $128,720."

Take a look at the full report, because therre is a lot more detailed
information about the veterinary profession.

Similar data for the state of Alabama can be found in the state's
occupational survey at:

http://www2.dir.state.al.us/OES/WAGE/Statewide/1999/swalphatz.htm

which shows the 520 veterinarians in the state with an average salary
(in 1999) of $55,610.

Hope this is what you were looking for.  

Dave

search strategy [veterinarian salary survey]

A few more things...

I know that the professional association to which I belong publishes
an annual salary survey.  It looks like yours does too!

American Veterinary Medical Association -- "2001 Economic Report on
Veterinarians and Veterinary Practices"
Here's an abstract of the report:
http://www.avma.org/cim/er96ad.html
$49/members |  $99/non-members

The AVMA also has some FREE salary/revenue statistics available:
http://www.avma.org/cim/vstat1.htm

If you aren't a member of AVMA and would like to join, check out this
site:
http://www.avma.org/membshp/default.asp
The annual fee is $225, but if you join now, your fees will be $113
through the end of 2002.

Another option you might try, if you don't want to spend the money, is
to call the AVMA and ask for their library.  The librarians might be
able to provide you with some of the details of the salary report
without you needing to purchase the entire thing.

AVMA
1931 North Meacham Road - Suite 100
Schaumburg, IL 60173 
Phone: 847-925-8070, Fax: 847-925-1329
E-mail: avmainfo@avma.org

SEARCH STRATEGY

veterinary association
://www.google.com/search?hl=en&ie=UTF8&oe=UTF8&q=vetrinary+association

Went to AVMA site - http://www.avma.org
Clicked on RESOURCES, choose VETERINARY MARKET STATISTICS from MEMBER
QUICK LINKS menu (left hand side of screen).

Good luck and I hope you're able to find what you need!

-Librarygopher

An additional salary report - according regional salary surveys
reported to SalaryExpert.com, "The Veterinarian working in Montgomery,
Alabama now earns an average salary of 48,817. Half of those in this
position would earn between 29,608 and 62,081 (the 17th and 67th
percentiles). These numbers are derived from real, area specific,
survey data."

The report includes several graphs, comparisons to national averages, 
plus additional statistics available as a fee service. The
SalaryExpert.com online calculator could also be used to help factor
in compensation for the additional responsibilities entailed in the
business management aspect of the practice.

SalaryExpert.com - Report
http://www.salaryexpert.com/SEReports/Free_Salary_NA/index.cfm?job=3104&zip=&area=15240&GetReport=Get+Report

~larre-ga