Apr
05
VHMA’S 2015 Compensation and Benefits Survey Identifies Factors That Drive Managers' Salaries
Published on March 11, 2016
Alachua, Florida --The year 2008 marked the beginning of the Great Recession. More than seven years later, the economy seems to be slowly getting back on track. When the Veterinary Hospital Managers Association administered its Compensation and Benefits Survey in 2013, managers’ salaries reflected the struggling economy, registering a decrease between 2013 and 2011. The newly-released 2015 VHMA Compensation and Benefits Survey indicates that in general, managers’ and administrators’ salaries have increased over the previous two years. Furthermore, factors such as education and certification can help to raise salaries even more.
About the 2015 Survey
VHMA’s Compensation and Benefits Survey is conducted bi-annually to allow veterinary managers to keep abreast of compensation levels and to isolate the factors that enhance compensation. Last administered in 2013, the 2015 survey was distributed to 2,629 VHMA and Veterinary Emergency and Critical Care Society members. A total of 324 managers completed the questionnaire.
The Results
|
SALARY ($)
|
Median 2013
|
Median 2015
|
Percentage change
|
Number of 2015 respondents
|
|
Office Manager
|
37,500
|
37,000
|
-1%
|
26
|
|
Practice Manager
|
47,000
|
50,000
|
6%
|
187
|
|
Hospital Administrator
|
62,000
|
67,000
|
8%
|
111
|
Manager’s salaries show an overall increase since 2013, although office managers’ median salaries have declined slightly (one percent), but office managers did not have a high response rate in this survey.
On a more positive note, practice managers’ salaries improved by six percent while hospital administrators reported an eight percent median salary increase. For all groups of managers a post-graduate degree led to the highest median salary .Respondents that attained the Certified Veterinary Practice Manager (CVPM) credential also earned more than those without the credential.
As the number of facilities and the number of staff members managed by a manager grew, so too did median salary.
Although the majority of veterinary managers are not bound by an employment contract, those who are earned slightly higher median hourly wages when compared to peers without employment contracts. Managers whose responsibilities are described in a job description reported more significant median salaries than those who lacked job descriptions.
Location also influenced compensation. Practice managers located in New Jersey secured the highest median salaries and those located in Wisconsin made the highest median hourly wage. Hospital administrators working in Georgia reported the highest median salaries and hourly wages.
The type of practice managers are affiliated with can also impact compensation. Practice managers working in emergency practices commanded the highest salaries but worked the longest hours. Hospital administrators in specialty practices received the highest salaries and clocked the most hours worked per year. Office managers working in exclusively small animal practices reported the weakest salaries.
Seniority is a weak driver of salary and, in many cases, salaries trended lower as seniority among managers and administrators increased.
Benefit Issues
Office managers, practice managers and hospital administrators received an average of three weeks paid vacation each year. Median weeks of vacation generally increased as years at current location increased.
In terms of benefits provided, hospital administrators were more likely to indicate that the benefits listed in the survey were available to them. These included cells phones, child care, malpractice insurance and more. There was very little correlation between type of management position and level of benefits received.
General Trends
Since the last VHMA survey in 2013, veterinary managers and administrators have experienced increases in salary. Traditionally, seniority and experience have resulted in higher salaries and there are also numerous other factors such as location and number of staff managed that can have a positive impact on salary. Education and credentials continue to be effective routes to higher salaries.
To read more about the survey finding, go to www.vhma.org
Other VHMA Publications
In addition to the veterinary managers’ survey, VHMA recently released the 2015 Report on Compensation for Non-DVM Staff and 2015 Compensation and Benefits for Associate Veterinarians.
About VHMA
The Veterinary Hospital Managers Association, Inc. (VHMA) was formed in 1981 to provide individuals actively involved in Veterinary Practice Management a means of effective communication and interaction. The mission of VHMA is to enhance and serve professionals in veterinary management through superior education, certification, and networking. For more information about VHMA or CVPM, visitwww.vhma.org
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