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A good MBA can position you for a multiple six figure salary job. Is it worth going into six figure debt for that posibility, expecially if it's fairly likely? Getting back to the original topic, what's a likely salary for a vet 5, 10, 20 years out.

quote:
Originally posted by Edmond:
quote:
Originally posted by PASig:
I don't understand this part: Can none of these people do simple math and figure out that $180,000 to $300,000 in student loan debt is something they will NEVER PAY OFF?

Just do some numbers and walk away! Don't even get into this field.


Eek

That's a mortgage, not a student loan...

I have a friend who took out huge loans for school, even borrowed for her MBA. I have no idea how much in the hole she is but she said her monthly repayment is $1,400/month. That's a mortgage payment to me.

Most of my friends are borrowing to pay for their MBA from a private school. Tuition itself before fees, books, interest, workshops, etc. is around $75k for the 2 year program. No way in hell I would borrow that type of money to go to school. If I was borrowing money to go to school, it's going to be a state school.
 
Posts: 21240 | Registered: November 05, 2003Reply With QuoteReport This Post
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As a practicing small animal (reformed mixed animal) veterinarian, I also see a great deal of compassion fatigue in my colleagues.

My personal opinion is that these suicide numbers will go up before we see them drop, as more millennials come into the profession. I don't mean that as a direct slam on the newer generation, just that realistically these kids didn't "come up" in the profession like many of us more seasoned vets. They don't see any value in paying their dues, and think everyone is entitled to change their ways to run a business their way. They expect their voice and opinion to carry equal weight with more experienced folks, they expect to make salaries similar to more seasoned vets (and sooner), and they rarely care about their debt load until AFTER they are graduating, when reality drops in for a visit. They also don't expect to have to cover emergency call, work a 60 hour week (I did, and I bet horsedoc did too), or skip lunch to catch up on paperwork. They (wisely at times, I think for the most part) choose personal fulfillment over professional advancement.

Why do people choose to become veterinarians despite the economic issues? Statistics say the fastest growing demographic for vets is white upper middle class females, and a solid percentage have monies being paid by their affluent parents. Many of the folks who end up with oppressive loan amounts ARE told about the debt, they just don't listen. Rarely do people enter dentistry because of their love of teeth, or a perfect smile, or to stamp out halitosis. But having participated directly in the vet school admissions process for years, I can attest that I've never interviewed a vet school candidate who didn't at some point say "I just love animals...."

It tugs at the heartstrings, and drives most of us to turn our backs on professions that work far fewer hours for far better pay and prestige. Most of us grumble about crazy clients, long hours, low starting pay, and the ever-increasing oversight we suffer, but we love what we do and wouldn't trade it.

Combine all of that-love for animals and desire to heal, unmet expectations of the job, unmet expectations of clients appreciation, long hours, high debt service, and throw in the fact that you are supposed to gracefully deal with euthanasia on a daily basis, and you'd better be well equipped to overcome that. Maybe I'm wrong, but I do think we will see this newer generation struggle to overcome like previous generations did. My .02.


________________________________________________

"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving."
-Dr. Adrian Rogers
 
Posts: 6393 | Location: Mogadishu on the Mississippi | Registered: February 26, 2009Reply With QuoteReport This Post
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quote:
Originally posted by sigfreund:

I personally don’t have the heartburn with some suicides as others do, but if someone commits suicide because of despair over debt or job stress, how does pointing out that others commit suicide because of marital problems or PTSD make it any better? :


It's called context. Example: someone posts that the property tax rate in their county is .075% annually. The immediate thought turns to what is the property tax rate in another state/county?

Example: someone posts that there were 600 murders in Baltimore last year, then to see the trend/context, someone else posts that there were more than that in Chicago.

Example: someone posts that gas is $1.85 a gallon in their city right now. Then we learn that it's $3.75 a gallon in San Francisco due to city-enforced taxes to clean up homeless people's poop.
 
Posts: 1892 | Location: KY | Registered: April 20, 2005Reply With QuoteReport This Post
Ammoholic
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quote:
Originally posted by BBMW:
A good MBA can position you for a multiple six figure salary job. Is it worth going into six figure debt for that posibility, expecially if it's fairly likely? Getting back to the original topic, what's a likely salary for a vet 5, 10, 20 years out.

IANAV, but I’ve used a lot of their services and spoken with several about their businesses. I seriously doubt that the *salary* for any vet who doesn’t become a “rock star” in some specialty practice is ever going to be impressive. The Veterinarians that make a lot of money will be those that build a successful practice, grow it, hire a lot of folks, veterinarians and vet techs (employees) and pay them less in salary than the income the employees generate. That is a business person, and they are making money on business. The fact that it happens to be a veterinary business isn’t why they make a lot of money.

The skills needed to be a good veterinarian (or MD) are different than the skills needed to be a good businessman. Some Vets are great Vets and lousy businessmen, some vets are lousy vets and great businessmen. Some vets are very good at both, but this is probably a much smaller subset.

Much like any other business, the opportunities to make a whole lot of money working for someone else (who takes on the risk) for a salary are few and far between.

All that said, to your first point, that good MBA probably has a higher likelihood of leading to a big dollar salary than most other fields. However, from time to time there are MBA gluts, just like petroleum or aerospace engineering. There is no guaranteed big dollar job. Education is an investment like any other investment and one should choose wisely...
 
Posts: 7165 | Location: Lost, but making time. | Registered: February 23, 2011Reply With QuoteReport This Post
Member
posted Hide Post
quote:
As a practicing small animal (reformed mixed animal) veterinarian, I also see a great deal of compassion fatigue in my colleagues.

My personal opinion is that these suicide numbers will go up before we see them drop, as more millennials come into the profession. I don't mean that as a direct slam on the newer generation, just that realistically these kids didn't "come up" in the profession like many of us more seasoned vets. They don't see any value in paying their dues, and think everyone is entitled to change their ways to run a business their way. They expect their voice and opinion to carry equal weight with more experienced folks, they expect to make salaries similar to more seasoned vets (and sooner), and they rarely care about their debt load until AFTER they are graduating, when reality drops in for a visit. They also don't expect to have to cover emergency call, work a 60 hour week (I did, and I bet horsedoc did too), or skip lunch to catch up on paperwork. They (wisely at times, I think for the most part) choose personal fulfillment over professional advancement.

Why do people choose to become veterinarians despite the economic issues? Statistics say the fastest growing demographic for vets is white upper middle class females, and a solid percentage have monies being paid by their affluent parents. Many of the folks who end up with oppressive loan amounts ARE told about the debt, they just don't listen. Rarely do people enter dentistry because of their love of teeth, or a perfect smile, or to stamp out halitosis. But having participated directly in the vet school admissions process for years, I can attest that I've never interviewed a vet school candidate who didn't at some point say "I just love animals...."

It tugs at the heartstrings, and drives most of us to turn our backs on professions that work far fewer hours for far better pay and prestige. Most of us grumble about crazy clients, long hours, low starting pay, and the ever-increasing oversight we suffer, but we love what we do and wouldn't trade it.

Combine all of that-love for animals and desire to heal, unmet expectations of the job, unmet expectations of clients appreciation, long hours, high debt service, and throw in the fact that you are supposed to gracefully deal with euthanasia on a daily basis, and you'd better be well equipped to overcome that. Maybe I'm wrong, but I do think we will see this newer generation struggle to overcome like previous generations did. My .02.

________________________________________________

Thanks for taking the time to write your response. I appreciate your insight.
 
Posts: 17623 | Location: Stuck at home | Registered: January 02, 2015Reply With QuoteReport This Post
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