GETTING YOUR CAREER STARTED

Dennis M. McCurnin, D.V.M.Diplomate,ACVS

Louisiana State University

Employer Wants and Needs in 2010 DVMs Want to work 45-50 hrs / weekWant to work 45-50 hrs / week Want to follow practice protocolsWant to follow practice protocols Want to take Want to take somesome emergency calls emergency calls Be a self starter with some experience Be a self starter with some experience Have a “can do” attitudeHave a “can do” attitude Be a “people” person (comm. skills)Be a “people” person (comm. skills) Be a team playerBe a team player Work for Work for << average wage average wage

New DVM Graduate’s Wants and Needs in 2010 Find a match for Prof. Exp./ IncomeFind a match for Prof. Exp./ Income

Retire Ed. Debt within 10 yrsRetire Ed. Debt within 10 yrs.(budget 10%).(budget 10%)

Have a private life (work 35-40 hrs.)Have a private life (work 35-40 hrs.) Free time is Free time is moremore important /$ important /$ (contract)(contract)

No Emergencies / long weekendNo Emergencies / long weekend Be mentored but allowed to chooseBe mentored but allowed to choose Usually not interested in management Usually not interested in management

or ownership early on or ownership early on

MEAN DEBT… MEAN SALARY.(SAE) MEAN ADD. COMP…TOTAL COMP…

JAVMA 235: Sept. 1, 2009 (Page 523-526)JAVMA 235: Sept. 1, 2009 (Page 523-526)

2010 LSU AVG. DEBT = $115,0112010 LSU AVG. DEBT = $115,011

$129,976$129,976$69,154 $69,154

$8,000$8,000$77,154$77,154

Typical Benefits Package

Medical Ins. $ 3,000Medical Ins. $ 3,000Dues/subscriptions 500Dues/subscriptions 500 Vacation (10 days) 2,600Vacation (10 days) 2,600 CE (3–5 days)+Reg. 1,750CE (3–5 days)+Reg. 1,750 Prof.Liability Prof.Liability ( $1-3 M )( $1-3 M ) 234 234 Total $ 8,084Total $ 8,084

2009 DVM STARTING SALARIES/INDEBTEDNESS JAVMA,235:5, Sept. 1, 2009

Mean Mean salarysalary

$69,154$69,154

SAESAE

$72,318$72,318

FAEFAE

Add CompAdd Comp $8,000$8,000 $12,000$12,000

Mean debtMean debt $129,976$129,976 $129,976$129,976

2010 LSU GRADUATES Salary range -----------$60k-$115kSalary range -----------$60k-$115kAvg. salary LA.-------$65,400 + B (10)Avg. salary LA.-------$65,400 + B (10)Avg. salary out of st.- $78,911 + B (8)Avg. salary out of st.- $78,911 + B (8)Avg. salary NV.-------$85,850 + B (2)Avg. salary NV.-------$85,850 + B (2)Avg. salary AR.------- $70,000 + B (2)Avg. salary AR.------- $70,000 + B (2)Avg. debt (74 of 81)--$115,011Avg. debt (74 of 81)--$115,011 ( Nat. Avg. $129,976 ‘09)( Nat. Avg. $129,976 ‘09)

SALARY vs INCENTIVE First YearFirst Year = Salary ( 1 = Salary ( 1stst 6 mons )$69+8 6 mons )$69+8 22ndnd + Years + Years = % or Base = % or Base ++ % % 1) 20% x gross + reasonable benefits1) 20% x gross + reasonable benefits 2) $69k + 20% over $350k + benefits2) $69k + 20% over $350k + benefits ($400k x .20 = $80k + $8k = $88k)($400k x .20 = $80k + $8k = $88k) ($500k x .20 = $100k + $8k = $108k)($500k x .20 = $100k + $8k = $108k) Employer’s need:Employer’s need: $77k x 5 = $385k $77k x 5 = $385k $88k x 5 = $440k$88k x 5 = $440k

COST OF LIVING

Cost of Living CalculatorCost of Living Calculator in in Google will provide a large Google will provide a large number of sites. CNN is a good number of sites. CNN is a good site. Check more than 1 site and be site. Check more than 1 site and be aware of home purchase vs renting. aware of home purchase vs renting. Home purchase will Home purchase will INCREASEINCREASE the cost of living dramatically. the cost of living dramatically. Most people will rent the 1Most people will rent the 1stst year. year.

DEBT BENCHMARKS

Mortgage:Mortgage: Limit monthly Limit monthly payments to 25- 30% of gross payments to 25- 30% of gross income income

Student Loans:Student Loans: Limit monthly Limit monthly payments to 10 - 15% of gross payments to 10 - 15% of gross incomeincome

STAFF COMPENSATION*

Practice Managers $40 – 60K / Yr.Practice Managers $40 – 60K / Yr. Veterinary Technicians $12 – 18 / Hr.Veterinary Technicians $12 – 18 / Hr. Veterinary Assistants $10 – 15 / Hr.Veterinary Assistants $10 – 15 / Hr. ReceptionistsReceptionists $10 – 15 / Hr. $10 – 15 / Hr.

* * Denise Tumblin, CPA, Vet. Econ. Jul. 2007Denise Tumblin, CPA, Vet. Econ. Jul. 2007

On-line Financial Help

www.loanconsolidation.ed.gov

www.paycheckcity.com salary.com salary.com

www.csfloans.com

www.salaryexpert.comwww.salaryexpert.com

Salary needs (budget) Mean salary information Worth $3,000-$10,000 $65k vs $75k x 5yr=$50k Several offers needed **www.finsim.umn.edu (summary)

www.homestore.com/moving

NEGOTIATION

CANDIDATE MUST NEGOTIATE AND BE

FLEXIBLE TO OBTAIN THE BEST

PROFESSIONAL AND FINANCIAL POSITION

WHAT AFFECTS INCOME? Career path; Practice typeCareer path; Practice typeCOL, Geography (zipskinny.com)COL, Geography (zipskinny.com) ExperienceExperienceBoard CertificationBoard Certification# DVM’s in practice# DVM’s in practice

** ** OWNERSHIPOWNERSHIP Financing: Financing: www.matsco.com; ;

www.liveoakbank.com

Average Salary for All Private Practices

America's 50 highest-paying jobs, as reported by the Bureau of Labor Statistics

11 Surgeons Surgeons $177,690 $177,690

22 Anesthesiologists Anesthesiologists $174,240 $174,240

33 Obstetricians and Gynecologists Obstetricians and Gynecologists $171,810 $171,810

44 Orthodontists Orthodontists $163,410 $163,410

55 Oral and Maxillofacial Surgeons Oral and Maxillofacial Surgeons $160,660 $160,660

66 Internists, General Internists, General $156,550 $156,550

77 Psychiatrists Psychiatrists $146,150 $146,150

88 Prosthodontists Prosthodontists $146,080 $146,080

99 Family and General Practitioners Family and General Practitioners $140,370 $140,370

1010 Chief Executives Chief Executives $139,810 $139,810

1111 Pediatricians, General Pediatricians, General $139,230 $139,230

1212 Airline Pilots, Copilots and Flight Engineers Airline Pilots, Copilots and Flight Engineers $135,040 $135,040

1313 Dentists, General Dentists, General $133,680 $133,680

1414 Podiatrists Podiatrists $111,250 $111,250

1515 Lawyers Lawyers $110,520 $110,520

1616 Air Traffic Controllers Air Traffic Controllers $105,820 $105,820

1717 Engineering Managers Engineering Managers $105,470 $105,470

1818 VeterinariansVeterinarians $103,041 $103,041

1919 Computer and Information Systems Managers Computer and Information Systems Managers $102,360 $102,360

2020 Marketing Managers Marketing Managers $101,990 $101,990

2121 Astronomers Astronomers $101,360 $101,360

2222 Natural Sciences Managers Natural Sciences Managers $99,140 $99,140

2323 Sales Managers Sales Managers $98,510 $98,510

2424 Petroleum Engineers Petroleum Engineers $97,350 $97,350

2525 Financial Managers Financial Managers $96,620 $96,620

2626 Law Teachers, Postsecondary Law Teachers, Postsecondary $95,570 $95,570

2727 Optometrists Optometrists $95,500 $95,500

2828 General and Operations Managers General and Operations Managers $95,470 $95,470

2929 Computer and Information Scientists, Research Computer and Information Scientists, Research $94,030 $94,030

3030 Judges, Magistrate Judges and Magistrates Judges, Magistrate Judges and Magistrates $91,500 $91,500

3131 Physicists Physicists $91,480 $91,480

3232 Actuaries Actuaries $90,760 $90,760

3333 Nuclear Engineers Nuclear Engineers $90,690 $90,690

3434 IndustrialIndustrial $89,980 $89,980

3535 Human Resources Managers Human Resources Managers $89,950 $89,950

3636 Pharmacists Pharmacists $88,650 $88,650

3737 Securities, Commodities /Financial Services Sales Agents Securities, Commodities /Financial Services Sales Agents $87,990 $87,990

3838 Health Diagnosing and Treating Practitioners Health Diagnosing and Treating Practitioners $87,630 $87,630

3939 Computer Hardware Engineers Computer Hardware Engineers $87,170 $87,170

4040 Public Relations Managers Public Relations Managers $85,820 $85,820

4141 Aerospace Engineers Aerospace Engineers $85,450 $85,450

4242 Political Scientists Political Scientists $84,820 $84,820

4343 Physical Scientists Physical Scientists $84,380 $84,380

4444 Computer Software Engineers, Systems Software Computer Software Engineers, Systems Software $84,310 $84,310

4545 Personal Financial Advisors Personal Financial Advisors $82,970 $82,970

4646 Health Specialties Teachers, Postsecondary Health Specialties Teachers, Postsecondary $82,450 $82,450

4747 Chiropractors Chiropractors $82,060 $82,060

4848 Industrial Production Managers Industrial Production Managers $81,960 $81,960

4949 Construction Managers Construction Managers $81,760 $81,760

5050 Purchasing Managers Purchasing Managers $81,440 $81,440

5151 Advertising and Promotions Managers Advertising and Promotions Managers $81,250 $81,250

FINANCIAL BOTTOM LINE

Live conservatively now and continue for 3-5 Live conservatively now and continue for 3-5 years after graduationyears after graduation

Start investments early – ROTH IRAStart investments early – ROTH IRABuy-in or start own practice within 3-5 yearsBuy-in or start own practice within 3-5 yearsNegotiate best compensation package for first Negotiate best compensation package for first

job ( salary or incentive ) job ( salary or incentive ) 20% x gross + benefits 20% x gross + benefits

PROFESSIONAL RESUME

RESUME PREPARATION

1. Trying to get attention of 1. Trying to get attention of employer (30-40 seconds) employer (30-40 seconds)

2. Organization2. OrganizationEducationEducationExperienceExperienceActivitiesActivitiesAffiliationsAffiliationsReferencesReferences

RESUMEBaton D. Rouge

1745 Azalea DriveBaton Rouge, LA 70800

Phone 225-555-1234E-mail bdr@aol.com

EDUCATION Doctor of Veterinary Medicine May, 2012 School of Veterinary medicine Louisiana State University, Baton Rouge, LA

Bachelor of Science May, 2008 Major: Veterinary Science Louisiana State University, Baton Rouge, LA

VETERINARY EXPERIENCEAssistant Valley Veterinary Hospital Summer, 2010

Longneck, Louisiana Assisted clinicians with client/patient receiving, cared for hospitalized animals, provided technical assistance in anesthesia, radiology and laboratory, participated in diagnostic and therapeutic, surgical assistance.

Assistant Dr. Marlon Brown Summers, 2008, 2009Small Animal Referral SurgeonRiverbank, Louisiana

Practice limited to orthopedic surgery performed at the hospital of the referring DVM; allowed exposure to a wide variety of veterinarians and clinical practice situation; Induced and maintaned anesthesia, provided surgical preparation of the patients, assisted with orthopedic procedures such as ruptured cranial cruciate replacement techniques and femoral head and neck excisions.

OTHER EXPERIENCEOffice Assistant Hargrove & Associates, Inc. Summer 2009

Cutoff, Louisiana Performed computer assisted tasks utilizing word processing and spreadsheet.Restaurant Employee Armadillo Club Summers 2004,2008Baton Rouge, Louisiana Six years of progressive responsibility with this regional restaurant chain.

ACTIVITIES AND ACCOMPLISHMENTSStudent Small Animal Commission 2008-2012Representative Louisiana Veterinary Medical AssociationAttended commission meetings and gave student input on current issues affecting small animal practice in the state of Louisiana.

Co-founder and Student for Human Animal Related 2009-PresentBoard Member Experiences (SHARE)SHARE is a SCAVMA-affiliated student group which increases the interaction of veterinary students and the community in the area of the human/animal bond.

PROFESSIONAL AFFILIATIONSDelta Society – Attended national convention, Parsippany, New Jersey, Feb. , 2009American Veterinary Medical Association, Student Chapter – 2009-2012American Association of Feline Practitioners – 2009-2012

PROFESSIONAL / PERSONAL INTERESTSSmall Animal SurgeryPet Loss and Grief CounselingJogging

REFERENCESAvailable upon request

REFERENCES

LIST ON SEPARATE SHEETLIST ON SEPARATE SHEET 3 TO 4 PEOPLE3 TO 4 PEOPLE ONLY USE PEOPLE WHO ONLY USE PEOPLE WHO

KNOW YOU VERY WELLKNOW YOU VERY WELL OBTAIN PRIOR PERMISSIONOBTAIN PRIOR PERMISSION BE CAREFUL ABOUT BE CAREFUL ABOUT

FACEBOOKFACEBOOK

JOB INTERVIEW

EMPLOYMENT SELECTION

Practice SA-LA-MixedPractice SA-LA-Mixed Commercial/ IndustryCommercial/ Industry Education - specializationEducation - specialization Government/ Public Government/ Public

HealthHealth Organized V. M. (AVMA, Organized V. M. (AVMA, AAHA, State VMAs)AAHA, State VMAs)

LOCATION SELECTION Area of country Area of country Type of community(size) Type of community(size) web-siteweb-site

Type of practice/ business Type of practice/ business (quality vs. quantity)(quality vs. quantity)

Specific facility (Website)Specific facility (Website) Chamber of Commerce/webChamber of Commerce/web AAHA/ AVMA directory/web.AAHA/ AVMA directory/web. (aavmc.org, aahanet.org, findvmgjobs.com)(aavmc.org, aahanet.org, findvmgjobs.com)

INTERVIEW PreparationPreparation On work dayOn work day Dress - businessDress - business Arrival timeArrival time Have questionsHave questions Observe/ListenObserve/Listen Attitude = Attitude = ++ Positive Positive ++

PHONE INTERVIEWS

Research the practice: WebsiteResearch the practice: Website Know the names of interviewersKnow the names of interviewers Know demographics/location dataKnow demographics/location data Develop questions to askDevelop questions to ask Have resume/cover letter availableHave resume/cover letter available Do a mock interview priorDo a mock interview prior

PHONE INTERVIEWS

Have you dressed & showered?Have you dressed & showered? Is your phone fully charged?Is your phone fully charged? Do you have ready a quiet Do you have ready a quiet

place?place? Do you have a small glass of Do you have a small glass of

water? No snacks or gum.water? No snacks or gum.

FIRST IMPRESSION 30 sec. – 4 min.30 sec. – 4 min. Position/ headPosition/ head SmileSmile DressDress HandshakeHandshake VoiceVoice Sitting positionSitting position ConfidenceConfidence

YOU ARE SCREENING THE POTENTIAL

EMPLOYER AS WELL AS BEING INTERVIEWED

EMPLOYMENT CONSIDERATIONS Work schedulesWork schedules Duties (front vs. back)Duties (front vs. back) Outcome expectationsOutcome expectations Long-term outlookLong-term outlook 61% move within 2 years*61% move within 2 years* *AAHA Trends *AAHA Trends

EMPLOYMENT CONSIDERATIONS

Facilities (2 Ex. Rms/DVM)Facilities (2 Ex. Rms/DVM)

Staff / peers ( 3-4 Staff/DVM )Staff / peers ( 3-4 Staff/DVM ) Leadership / Management styleLeadership / Management style Salary Salary JAVMA Fall issue? JAVMA Fall issue? BenefitsBenefits Living costs Living costs ( cost of living calculator )( cost of living calculator )

TOTAL COMPENSATION(Salary plus benefits)

Vacation (5-10 days)Vacation (5-10 days)

Sick days ?(5 Sick days ?(5 days)days) CE days (3 days)CE days (3 days)

Dues for VMA’sDues for VMA’s

LicenseLicense Moving Moving

ExpenseExpense

Malpractice Ins.Malpractice Ins.

**Medical Ins.**Medical Ins.

401(k)401(k) Vehicle (LA)Vehicle (LA)

Disability Disability Ins.Ins. Life Ins.Life Ins.

RECOGNITION OF QUALITY PRACTICE

Offer CE support ( costs + Offer CE support ( costs + days )days )

Offer Profit Sharing ( must Offer Profit Sharing ( must have profit to have this )have profit to have this )

Have Procedures Manual that Have Procedures Manual that spells out specific policiesspells out specific policies

NEGOTIATION FLEXIBILITY

> Know avg. salary ( $69.2K )> Know avg. salary ( $69.2K ) Know avg. benefits ($6-8K)Know avg. benefits ($6-8K) Budget (w/loan payments)Budget (w/loan payments) Emergency duty? (50%)Emergency duty? (50%) Minimum figure in mindMinimum figure in mindTotal Comp. $77K min. Total Comp. $77K min.

NEGOTIATION FLEXIBILITY

Show, tell, listen, be polite Show, tell, listen, be polite and be firm and be firm

Work contracts Work contracts ((get it in writing!!get it in writing!!))

Start dateStart date

Final selection -Final selection -Professional & Financial -Professional & Financial -

SOCIAL COURTESIES

Thank your interviewer(s)Thank your interviewer(s) Letter of appreciation or emailLetter of appreciation or email When you decline a job, do so When you decline a job, do so

with regrets and professionalismwith regrets and professionalism

FOLLOW-UP PHONE CALL

SECOND INTERVIEW

ORGANIZATION+

RESUME+

POSITIVE ATTITUDE=

EMPLOYMENT!

Questions?