Lately on many different social media channels there is much discussion about veterinary salaries.
The view is as it always has been. Vets don’t get paid enough. We are the poor cousins of Doctors.
Maybe vets are more vocal now when they graduate with a significant student debt and are navigating the cost of living and how to repay the debt… I don’t blame them. I remember how frustrated I was when I realised what the income was for an experienced vet.
However, I must admit I am sick of hearing the doom and gloom.
Do you know why? While everyone is moaning and focussed on the low salaries they aren’t considering how to increase their income. You can’t see the solution if you keep looking at the problem.
I used to do the same. I had a limiting belief that vets will always be paid poorly and I never expected to earn a income of 6 figures.
That changed when I began to value my knowledge and skills and recognised that I could negotiate my salary and working conditions. I would not let myself be taken advantage of.
I had a habit of being nice and thinking if I worked hard, I would be looked after & paid appropriately. I was looked after but the pay went up by very small increments. Now I know why. I was costing the practice money as I wasn’t generating enough turnover. No one ever had a conversation with me about how to generate more, how to improve my case work up or how to communicate with clients. I just learned by trial and error. A long slow process.
A few years ago when I was first told I had to generate five times my income to justify my position, I was annoyed. Then I realised how easy it was working at a practice that charged appropriately and was busy (I’m not talking crazy busy).
These are the keys to increasing your veterinary income
- value your knowledge, skills and worth
- charge appropriately and stop discounting as you are sacrificing your income many times per day
- build strong relationships with clients so you become their family doctor for their pet
- work in a practice that is busy which will allow you to meet your financial targets
- monitor your turnover and discuss this with your employer regularly
- negotiate your salary
- negotiate your benefits and working conditions
- make it a win:win for you and the practice
If you are doing all of the above and not being paid well, then find a practice that will pay you well. When you are great with clients and can generate a high turnover, you are very valuable to a practice as you don’t cost them money.
There are vets who earn a good income. Talk to them to discover what they are doing & what they believe to be paid that salary.
Stop moaning and do something about it.
- Sit down and discuss with your employer what you should be doing to generate more income
- Ask the question “What do I need to do to be paid X?”. Then go, do it and hold you employer to it!
- Uncover your limiting beliefs about being a good vet and earning a good income. Saying “I don’t do it for the money” is keeping you poor.
- Increase your veterinary skills in an area that is valuable to the practice, generates turnover and is enjoyable for you
- Improve your communication skills so clients will follow your recommendations
- Learn to value your knowledge and skills and stop undercharging and discounting!
Not sure where to start?
I can teach you
- where & why you are leaving at least $100,000 in turnover behind every year by discounting and undercharging
- how to become more valuable to a practice
- how to communicate with clients so they follow your recommendations
- salary negotiation
- how to stop being taken advantage of if this applies to you
For further information contact me at natasha@highperformancevets.com or enter your details to be put on priority notification list.
I am travelling to Sydney this weekend to present at the AVAPM conference on Client Engagement. I am looking forward to discussing the many issues that are currently affecting our profession.
Have a wonderful weekend!
Natasha
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