What's fair compensation one year out of veterinary school? I'm currently working at a two-doctor practice. What do I need to know to make an educated decision about whether to renew my contract?
What's fair compensation one year out of veterinary school? I'm currently working at a two-doctor practice. What do I need to know to make an educated decision about whether to renew my contract?
Roger Cummings, CVPM
"Of course, the level of pay that's fair depends on your contribution and value to the practice," says Veterinary Economics Editorial Advisory Board member Roger Cummings, CVPM, a management consultant with Brakke Consulting in Dallas. To gauge your value, Cummings suggests answering these questions:
"When you review your contract, also consider industry averages for benefits," says Cummings. "AAHA's Compensation and Benefits shows that the average associate receives six paid holidays, 10 paid vacation days (after one year with the practice), and five paid sick days a year, plus a retirement plan. The average practice pays about $1,000 for CE plus travel expenses a year, provides five paid CE days a year, and covers about 90 percent of an associate's health insurance premium, liability insurance, license fees, and professional association dues.
"Of course, these are averages," says Cummings. "So remember, more associates receive compensation that's below this level than receive compensation that's above. That's the way averages work."
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