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Graduate Salaries See Continued Inflation

The AVMA survey of the veterinary profession, released late last year has shown strong continued growth in graduate salaries.

“The “2020 Economic State of the Veterinary Profession” report consists of data and analysis generated from surveys conducted in 2019 and early 2020 to assess the state of the profession for graduates, practices, owners, associates and others in the profession. The report details the market for veterinary education, the market for veterinarians, the market for veterinary services and the impact of—and response to—COVID-19.

According to the report, starting salaries for new veterinarians and average salary for all veterinarians increased in 2019 from the previous year’s levels. The average compensation of all graduates in 2019 was $70,045, up from $65,983 in 2018. While companion animal medicine continues to be the predominant focus for veterinarians, the profession saw low unemployment and high rates of job offers for new graduates across species focus and industries.

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Graduate salaries continue to rise rapidly

The market for new entrants into the veterinary profession is robust, with over 94% of new veterinarians in 2019 reporting that they found full-time employment or opportunities to continue their education up to two weeks prior to graduation. Student debt continues to be a concern, but the average debt levels of new veterinary school graduates fell by $2,481, as a record-high 18.2% of graduates reported no debt upon graduation”

The full press release can be found here, and the report, which is free to AVMA members can be downloaded from the AVMA store.

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