In recent years, data about the equine veterinary industry has been plentiful. In this article, we share important insights from surveys conducted over the past few years.
AAEP Commission Survey
The AAEP Commission on Equine Veterinary Sustainability’s Compensation Subcommittee conducted a survey of equine practitioners in 2022. Among the veterinarians surveyed, the average salary was $154,217, and the mean salary among respondents who graduated in 2016-2019 was $88,973. The survey also reported that in 2021, veterinarians worked an average of 57 hours per week during the busiest quarter and 39 hours during the least busy quarter.
Respondents who had been in equine medicine the longest reported much higher levels of job satisfaction than those who graduated within the past decade, especially the most recent graduates. “Respondents who said they are dissatisfied with their job currently were asked to briefly explain why,” the report stated. “A review of comments finds a few central themes. Namely, salary expectations are not being met, the amount of hours required (including on-call time), challenging owners/challenging work environment, and difficult clients are all reasons listed by a significant number of respondents.”
AVMA AAEP Report on the Economic State of the Equine Veterinary Profession
The AVMA AAEP Report on the Economic State of the Equine Veterinary Profession was released in March 2024 and provided a plethora of information on the industry. Of note was the decrease in new graduates entering equine practice as either interns or associates without an internship. In 2014, 8.6% of graduates entered equine practice, compared to only 6.1% in 2023. In addition, average salaries for new graduates entering equine practice as associates without an internship jumped sharply in 2023 to $94,389, nearly double the average salary of $54,513 offered in 2021. Internship salaries saw a bump as well, rising from $31,855 in 2021 to $44,822 in 2023. Average educational debt for new equine graduates with some amount of veterinary school debt was $184,858. However, one-third of equine graduates reported owing more than $220,000 and 10% more than $300,000.
Demographics of the equine veterinary profession have been changing, according to the study. Women now comprise 60% of the workforce. Of the 124,069 U.S. veterinarians engaged in both public and private practice, just 3.1% (3,785) are in equine practice. The states with the largest horse populations—Texas, California, and Florida—also have the largest number of equine veterinarians.
Respondents in the AVMA AAEP report were asked about their satisfaction with their job, lifestyle, and compensation. The results showed that equine practice owners are much more satisfied with all three of these components than associates. The study also reported that 23% of equine associates and 12% of equine practice owners are considering or have decided to leave equine practice. Among that group of vets, 30% graduated in 2020 or 2021, and almost two-thirds graduated in 2000 or later. Keeping early-career veterinarians in equine practice must be an industry-wide priority if we are to meet the needs of horses in the future.
Unfortunately, recent research showed this effort might be difficult. There is a clear need for equine veterinarians to increase earnings. However, a study from the University of Kentucky surveying nearly 5,000 horse owners about price increases for annual vaccinations, lameness exams, and emergency colic surgery revealed they are sensitive to pricing, and price increases would likely alter demand. Fee increases, regardless of horse value or household income, were found to possibly affect demand and the total associated revenue.
Final Thoughts
Despite the small number of equine veterinarians relative to total veterinarians, dedicated researchers continue to give us important insights into our industry. Their efforts help the industry maintain the self-awareness that can provide appropriate strategies for a successful future.
Reference
Gibson, O.L., Adam, E. & Stowe, C.J. (2025) Descriptive analysis of the use of and preferences for equine veterinary services. Equine Veterinary Education, 00, 1–8. Available from: https://doi.org/10.1111/eve.14100
Related Reading
- The Business of Practice: 2024 AVMA AAEP Report on the Economic State of the Equine Veterinary Profession
- Business Briefs: Horse Industry Statistics Veterinarians Should Know
- Veterinary Sustainability: An Update on the AAEP Commission’s 5 Subcommittees
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