Veterinarians are an integral part of society if you are a pet owner. As professionals they should be paid as such and in this article we will look at the components that comprise a veterinarian salary.
According to the BLS (Bureau of Labor Statistics) and Payscale, there are four major areas that a veterinarian is compensated for:
Veterinarian Salary
Of course the most basic compensation is their base veterinarian salary. According to the above sources, as of September of 2011, the starting veterinarian salary ranges from $45,000.00 up to $98,000.00. The two most influential factors in determining where a person starts in the scale is years of experience and degree. It’s interesting to note that a Doctorate (Phd) makes less than a Doctor of Veterinarian Medicine (DVM) with a degree in Biology. The difference can be as much as $20,000.00 annually.
Bonuses
The second area which a veterinarian salary gains compensation from is bonuses. Again, according to the statistics, these bonuses can range from Zero up to $15,000.00. Bonuses are based on the profitability of each office and in some cases a region. Since bigger corporations are seeing profit potential in pet care services, you see veterinarian concerns like Banfield being taken over by the Mars Candy Company. This has raised the question of, does the pressure of corporate profits override the ultimate care of a pet? The answer to this question is still to be determined.
Profit Sharing
Profit sharing is another component in a veterinarian salary. The range on this part of the compensation package goes from zero to $43,500.00. If you were to breakdown the numbers in this category you would have to look at the following: Company size, company program, company matching and investment options within the profit sharing program. Vesting times and percentages are pretty much standard according to federal laws. If there is room for negotiating, then a company can always reduce vesting times and options, it’s worth the conversation.
Commission
Some companies offer commission in their compensation plans, the numbers here range from zero up to $41,000.00. Some products and services provided by a vet are commission based. This can include: X-rays, medicine, food, tests, referral exams and overnight care services.
Veterinarian Salary Final Tally
We have covered the major areas of compensation of a veterinarian salary, but as you can see we left out benefits. There are just too many variables and you have to mark it as the X factor in the equation. What we do know is when we tally up the four major components covered above we have on average a total veterinarian salary that ranges from $45,000.00 to 106,000.00.
Besides the personal rewards this field offers, you can see that there are also financial rewards you can benefit from too!
James Walker is an expert in Veterinarian Salary. Visit his other website on Junkyards in New Jersey.
