Financial expectations of first-year veterinary students

Christine C. Lim, Sam Schulhofer-Wohl, Margaret V.Root Kustritz, Laura K. Molgaard, David Lee

Research output: Contribution to journalArticle

4 Citations (Scopus)

Abstract

Objective—To assess student awareness of the financial costs of pursuing a veterinary education, to determine student expectations for financial returns of a veterinary career, and to identify associations between student debt and factors such as future career plans or personality type. Design—Survey. Sample—First-year veterinary students at the University of Minnesota College of Veterinary Medicine. Procedures—In 2013, prior to the first day of class, all incoming first-year students received an email invitation to complete an online survey. The survey contained questions about demographics, current financial situation, current debt, expected debt at graduation, expected annual income following graduation, intent to pursue specialty training, and Myers-Briggs personality type. Results—72 of 102 (71%) students completed the survey; 65 respondents answered all relevant questions and provided usable data. Student responses for expected debt at graduation were comparable to national averages for veterinary college graduates; responses for expected annual income following graduation were lower than averages for University of Minnesota veterinary college graduates and national averages. However, students predicted even lower annual income if they did not attend veterinary college. Expected debt and expected annual income were not correlated with factors such as personality type or future career plans.Conclusions and Clinical Relevance—Results indicated that first-year veterinary students were aware of the financial costs of their veterinary education and had realistic expectations for future salaries. For typical veterinary students, attending veterinary college appeared to be financially worthwhile, given lower expected earnings otherwise.

Original languageEnglish (US)
Pages (from-to)196-203
Number of pages8
JournalJournal of the American Veterinary Medical Association
Volume247
Issue number2
DOIs
StatePublished - Jul 7 2015

Fingerprint

veterinarians
debt
students
Students
income
veterinary education
Veterinary Education
Personality
e-mail
veterinary medicine
Costs and Cost Analysis
Veterinary Medicine
Salaries and Fringe Benefits
demographic statistics
veterinary schools
Demography
Surveys and Questionnaires

Cite this

Financial expectations of first-year veterinary students. / Lim, Christine C.; Schulhofer-Wohl, Sam; Kustritz, Margaret V.Root; Molgaard, Laura K.; Lee, David.

In: Journal of the American Veterinary Medical Association, Vol. 247, No. 2, 07.07.2015, p. 196-203.

Research output: Contribution to journalArticle

@article{4426562a744e48b8affeaa6f819057b3,
title = "Financial expectations of first-year veterinary students",
abstract = "Objective—To assess student awareness of the financial costs of pursuing a veterinary education, to determine student expectations for financial returns of a veterinary career, and to identify associations between student debt and factors such as future career plans or personality type. Design—Survey. Sample—First-year veterinary students at the University of Minnesota College of Veterinary Medicine. Procedures—In 2013, prior to the first day of class, all incoming first-year students received an email invitation to complete an online survey. The survey contained questions about demographics, current financial situation, current debt, expected debt at graduation, expected annual income following graduation, intent to pursue specialty training, and Myers-Briggs personality type. Results—72 of 102 (71{\%}) students completed the survey; 65 respondents answered all relevant questions and provided usable data. Student responses for expected debt at graduation were comparable to national averages for veterinary college graduates; responses for expected annual income following graduation were lower than averages for University of Minnesota veterinary college graduates and national averages. However, students predicted even lower annual income if they did not attend veterinary college. Expected debt and expected annual income were not correlated with factors such as personality type or future career plans.Conclusions and Clinical Relevance—Results indicated that first-year veterinary students were aware of the financial costs of their veterinary education and had realistic expectations for future salaries. For typical veterinary students, attending veterinary college appeared to be financially worthwhile, given lower expected earnings otherwise.",
author = "Lim, {Christine C.} and Sam Schulhofer-Wohl and Kustritz, {Margaret V.Root} and Molgaard, {Laura K.} and David Lee",
year = "2015",
month = "7",
day = "7",
doi = "10.2460/javma.247.2.196",
language = "English (US)",
volume = "247",
pages = "196--203",
journal = "Journal of the American Veterinary Medical Association",
issn = "0003-1488",
publisher = "American Veterinary Medical Association",
number = "2",

}

TY - JOUR

T1 - Financial expectations of first-year veterinary students

AU - Lim, Christine C.

AU - Schulhofer-Wohl, Sam

AU - Kustritz, Margaret V.Root

AU - Molgaard, Laura K.

AU - Lee, David

PY - 2015/7/7

Y1 - 2015/7/7

N2 - Objective—To assess student awareness of the financial costs of pursuing a veterinary education, to determine student expectations for financial returns of a veterinary career, and to identify associations between student debt and factors such as future career plans or personality type. Design—Survey. Sample—First-year veterinary students at the University of Minnesota College of Veterinary Medicine. Procedures—In 2013, prior to the first day of class, all incoming first-year students received an email invitation to complete an online survey. The survey contained questions about demographics, current financial situation, current debt, expected debt at graduation, expected annual income following graduation, intent to pursue specialty training, and Myers-Briggs personality type. Results—72 of 102 (71%) students completed the survey; 65 respondents answered all relevant questions and provided usable data. Student responses for expected debt at graduation were comparable to national averages for veterinary college graduates; responses for expected annual income following graduation were lower than averages for University of Minnesota veterinary college graduates and national averages. However, students predicted even lower annual income if they did not attend veterinary college. Expected debt and expected annual income were not correlated with factors such as personality type or future career plans.Conclusions and Clinical Relevance—Results indicated that first-year veterinary students were aware of the financial costs of their veterinary education and had realistic expectations for future salaries. For typical veterinary students, attending veterinary college appeared to be financially worthwhile, given lower expected earnings otherwise.

AB - Objective—To assess student awareness of the financial costs of pursuing a veterinary education, to determine student expectations for financial returns of a veterinary career, and to identify associations between student debt and factors such as future career plans or personality type. Design—Survey. Sample—First-year veterinary students at the University of Minnesota College of Veterinary Medicine. Procedures—In 2013, prior to the first day of class, all incoming first-year students received an email invitation to complete an online survey. The survey contained questions about demographics, current financial situation, current debt, expected debt at graduation, expected annual income following graduation, intent to pursue specialty training, and Myers-Briggs personality type. Results—72 of 102 (71%) students completed the survey; 65 respondents answered all relevant questions and provided usable data. Student responses for expected debt at graduation were comparable to national averages for veterinary college graduates; responses for expected annual income following graduation were lower than averages for University of Minnesota veterinary college graduates and national averages. However, students predicted even lower annual income if they did not attend veterinary college. Expected debt and expected annual income were not correlated with factors such as personality type or future career plans.Conclusions and Clinical Relevance—Results indicated that first-year veterinary students were aware of the financial costs of their veterinary education and had realistic expectations for future salaries. For typical veterinary students, attending veterinary college appeared to be financially worthwhile, given lower expected earnings otherwise.

UR - http://www.scopus.com/inward/record.url?scp=84936758604&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=84936758604&partnerID=8YFLogxK

U2 - 10.2460/javma.247.2.196

DO - 10.2460/javma.247.2.196

M3 - Article

C2 - 26133220

AN - SCOPUS:84936758604

VL - 247

SP - 196

EP - 203

JO - Journal of the American Veterinary Medical Association

JF - Journal of the American Veterinary Medical Association

SN - 0003-1488

IS - 2

ER -