Calculating a fair veterinary salary
Q. I've heard that a practice owner shouldn't pay an associate more than 25 percent on production. But I work in a practice where three veterinarians share one technician. What would be a salary for circumstances like these?
The issue here seems less about pay and more about staffing, says Gary Glassman, CPA, a Veterinary Economics Editorial Advisory Board member and a partner with Burzenski & Co. PC in East Haven, Conn.
"The quoted 25 percent of production for total veterinarian pay is an industry benchmark that includes pay and benefits," says Glassman. But if your staffing is keeping you from meeting your pay potential, you need more team members.With additional team members hired, doctors could be freed up to see more appointments and generate more revenue, says Glassman.