Latest economic research free to AVMA members

The 2025 AVMA Economic State of the Profession Report, now available in the AVMA Store, provides the latest data and insights on some of veterinary medicine’s biggest trends and issues.

From labor markets and compensation to student debt, veterinary wellbeing, and practice operations, it delivers the information veterinarians and veterinary decision-makers need to make informed decisions about our careers and businesses. A $375 value, it’s available as a free download for all AVMA members.

Among the report’s findings:

• The labor market continues to show demand for veterinarians. More than 60% of all 2024 veterinary graduates moved into full-time employment. 
• The average debt-to-income ratio for new graduates has been relatively stable since 2022, although the proportion of new graduates with more than $300,000 in DVM debt is growing. 
• Average student loan debt for new graduates increased in 2024, along with anticipated incomes for these new veterinarians.
• Incomes for established veterinarians also are increasing, but appear to be leveling off in terms of inflation-adjusted dollars.
• The number and size of veterinary practices continues to grow. However, several practice types saw both gross revenue and some productivity metrics fall in 2024, partially a reflection of changing economic conditions.

Get report

Learn more from the experts in person

AVMA analysts who were involved in developing this report and conducting the research that informed it will be presenting key insights in a session March 3 at the Western Veterinary Conference. If you’re attending this conference, don’t miss “Essential Economic Update for Veterinary Practice Leaders” with AVMA Chief Economist Katelyn McCullock and Dr. Christopher Doherty.

Immediately following that session, another one will delve into the results of an in-depth study of veterinary workforce needs conducted by Brakke Consulting at the request of the AVMA. Lead researcher John Volk will present “Workforce Modelling: Preparing for Tomorrow’s Veterinary Landscape,” examining the results of the only peer-reviewed study that has been conducted into veterinary medicine’s long-term workforce needs.