Business and personal finance Flashcards
1
Q
two reasons for increased veterinary demand
A
- More animals (pandemic puppy/kitten)
- Stronger Human-Animal Bond
2
Q
reasons for lagging supply of veterinarians
A
- Graduating class sizes unchanged
> Any change will take 5+ years to show
impact - Attrition of veterinarians from clinical practice
> Retirement, corporate consolidation, GIA careers, locum etc.
3
Q
what is the supply-demand mismatch right now in veterinary medicine and what effects will it have?
A
- Substantial increase in demand
- Decrease in supply
- Economics predicts a rise in prices
- Compensation for associate veterinarians accelerating
4
Q
how has ontario veterinary associate compensation changed over time compared with inflation
A
outpacing inflation since ~2018
5
Q
2022 graduate median annual compensation
A
- Median Annual Compensation of $105,000
6
Q
2022 all full-time associates annual compensation
A
- Median Annual Compensation of $115,000
7
Q
is the real weighting income of veterinarians changing over time?
A
seems to have increased by about 20,000; from 60,000 - 80,000 from 2001 - 2019
8
Q
employment rate for veterinarians?
A
Very high employment
* 96% of recent grads employed
* 4% unemployed by choice
9
Q
how does demand for veterinarians and services change in a recession?
A
- May recede if a recession
- Usually modest declines
