Inflation continues to dampen gains in veterinarian salaries

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Dr. Chris Doherty, assistant director of strategic business research and outreach in the AVMA Veterinary Economics Division, gave updates on veterinary compensation trends over time at the 2025 AVMA Veterinary Business and Economic Forum, held October 8-9 in Denver. Although the average annual income of U.S. veterinarians has been rising over the last five years, real income - the amount adjusted for inflation - lags. "What we've seen over the last three or four years is that once you account for the impact of inflation, it started to come back down. And really, [for the average U.S. veterinarian,] salaries today, in real - or inflation-adjusted terms - are roughly where they were in about 2004," Dr. Doherty said. Fewer new graduates are entering full-time employment, he also noted.