ovma compensation & benefits survey results portland metro

Oregon Veterinary Medical Association

1880 Lancaster Dr. NE, Suite 118 Salem, OR 97305 (800) 235-3502 or (503) 399-0311

(503) 363-4218 fax ❖ [email protected] ❖ www.oregonvma.org

Compensation & Benefits Survey Results Portland Metro Area

Survey Design This survey was conducted by the OVMA to allow its members to evaluate their compensation and benefit policies compared to those of other OVMA members. In fall 2007, 406 surveys were sent to owners of practices in which there was at least one OVMA member. We received 109 responses, a 27% response rate. Practice owners were asked to answer questions regarding the compensation and benefits offered to their associates and the practice team (practice managers, technicians, assistants and front office staff). Owners were asked to exclude their own compensation. Survey questionnaires were remitted anonymously by hard copy and also through the survey Web site. The survey examined several areas (type of practice, years in practice, location, etc.) and evaluated their effects on the level of compensation for associate veterinarians and the practice team. In the compensation categories, we’ve reported median figures. The median is the mid-point of all responses (50th percentile). A generally accepted way of analyzing compensation data, the advantage of using the median is that the results are not influenced by extreme (high or low) responses, whereas the average (mean) would be. Not every question was answered by all of the respondents, so the number of responses shown in each table varies. The Responses column shows the total number of responses to a specific question. In the compensation category, these responses were used to calculate the median data. In other tables, the number of responses in each data category is shown. In compensation categories where there were fewer than two (2) responses, data is not reported due to confidentiality concerns. Compensation data reported by practice owners may be influenced by factors unknown to us. This document summarizes the following for veterinary practices in the Portland Metro area:

• General Demographics, page 2 • Associate Compensation, page 3 • Practice Team Compensation, page 4

o Practice Manager, page 4 o Technician, page 5 o Assistant, page 6 o Front Office, page 6

• Benefits, page 7 o Professional Fees, page 7 o Continuing Education, page 8 o Medical & Other Insurance, page 10 o Retirement Savings Plan, page 11 o Profit Sharing Plan, page 12

OVMA Benefits & Compensation Survey of 13 Portland Metro Area

General Demographics Table 1: Type of Medicine Type of Medicine Percentage Responses Companion (may include exotics) 82% 31 Mixed (combo. of companion, food/farm and/or equine) 5% 2 Equine 5% 2 Food/farm 0% 0 Other (SA no exotics, internal medicine specialty, feline exclusive)*

8% 3

*Note: These were grouped under Companion for the basis of analysis. Table 2: Gross Annual Revenue Gross Annual Revenue Percentage Responses Less than $250,000 3% 1 $250,000 to $500,000 11% 4 $500,001 to $750,000 8% 3 $750,001 to $1,000,000 24% 9 $1,000,001 to $1,500,000 18% 7 $1,500,001 to $2,000,000 24% 9 More than $2,000,000 13% 5


Associate Compensation The following tables summarize the median compensation and years of experience by type of medicine for associates in the Portland Metro area, followed by tables which summarize the median compensation by years of experience, as well as tables which summarize the percentage of production paid in compensation to associates who also earn a base salary as well as those whose compensation is solely based on production. Compensation was defined as annual salary, including production, where applicable. The median is the mid-point (50th percentile) of all responses. Note: In Tables 1 and 2, where there were fewer than two responses, data is not reported. Compensation data reported by practice owners may be influenced by factors unknown to us. Associate Table 1: Type of Medicine Type of Medicine Median Compensation Range Median Years of Experience Responses All $75,770 $48,000 - $320,000 10 76 Companion $75,000 $48,000 - $320,000 10 69 Mixed No data. No data. No data. No data. Equine $82,000 $42,000 - $134,000 5 5 Food/farm No data. No data. No data. No data. Table 2: Experience Years of Experience Median Compensation Range Responses <1 to 5 $65,000 $42,000 - $99,614 23 6 to 10 $72,000 $48,000 - $115,000 18 11 to 15 $79,357 $57,300 - $106,000 16 16 to 20 $76,700 $51,800 - $134,000 5 21 to 25 $100,000 $90,000 - $190,000 5 26+ $120,000 $57,341 - $320,000 9 Table 3: Percentage of Production in Addition to Base Salary 12 practices reported at least one of their associates receives compensation in addition to a base salary based on a percentage of their production. 1 - 4% 5 - 9% 10 - 14% 15%+ Responses 0 0 0 12 12 Table 4: Percentage of Production Only 16 practices reported at least one of their associates receives compensation based on a percentage of their production. 10 - 14% 15 - 19% 20 - 24% 25% - 29% 30% - 34% 35%+ Responses 2 6 7 1 0 0 16


Practice Team Compensation The following tables summarize the median compensation and years of experience by type of medicine for practice managers, technicians, assistants and front office staff in the Portland Metro area, followed by tables which summarize the median compensation by years of experience, as well as tables showing median compensation for those who are certified/not certified, where this is applicable to the position. Compensation was defined as annual salary or hourly rate. We have chosen to show all compensation as an hourly rate. The median is the mid-point (50th percentile) of all responses. Note: In categories where there were fewer than two responses, data is not reported. Compensation data reported by practice owners may be influenced by factors unknown to us. Practice Manager Compensation is expressed as an hourly rate. Note: Where the certification question was not answered, salary data was included in the overall median and the median by practice area, but excluded from the CVPM/non-CVPM categories. Table 1: Type of Medicine Type of Medicine Median Compensation Range Median Years of Experience Responses All $18.50 $14.00 - $42.00 10 30 Companion $18.75 $14.42 - $42.00 8 25 Mixed $15.75 $14.00 – $17.50 18 2 Equine $20.00 $17.00 - $21.63 20 3 Food/farm No data. No data. No data. No data. Table 2: Experience

Table 3: CVPM Type of Medicine Median Compensation Range Median Years of Experience Responses All No data. No data. No data. No data. Companion No data. No data. No data. No data. Mixed No data. No data. No data. No data. Equine No data. No data. No data. No data. Food/farm No data. No data. No data. No data. Table 4: Non-CVPM Type of Medicine Median Compensation Range Median Years of Experience Responses All $18.75 $14.00 - $42.00 10 25 Companion $18.75 $15.00 - $42.00 8 21 Mixed $15.75 $14.00 - $17.50 18 2 Equine $20.82 $20.00 - $21.63 18 2 Food/farm No data. No data. No data. No data.

Years of Experience Median Compensation Range Responses <1 to 5 $16.67 $14.42 - $24.04 10 6 to 10 $18.75 $17.70 - $28.85 6 11 to 15 $20.66 $14.00 - $42.00 4 16 to 20 $20.85 $17.00 - $27.88 8 21 to 25 $18.25 $16.50 - $20.00 2 26+ No data. No data. No data.


Technician Compensation is expressed as an hourly rate. Note: Where the certification question was not answered, salary data was included in the overall median and the median by practice area, but excluded from the CVT/non-CVT categories. Table 1: Type of Medicine Type of Medicine Median Compensation Range Median Years of Experience Responses All $14.25 $9.00 - $21.63 5 124 Companion $14.50 $9.00 - $21.63 6 118 Mixed $13.13 $12.75 - $13.50 5 2 Equine $13.75 $12.00 - $15.50 2 4 Food/farm No data. No data. No data. No data. Table 2: Experience Years of Experience Median Compensation Range Responses <1 to 5 $13.00 $9.00 - $16.65 63 6 to 10 $15.00 $11.00 - $20.82 37 11 to 15 $16.75 $14.75 - $17.70 9 16 to 20 $17.38 $15.63 - $21.00 10 21 to 25 $19.39 $17.15 - $21.63 2 26+ $19.00 $18.00 - $20.70 3 Table 3: CVT Type of Medicine Median Compensation Range Median Years of Experience Responses All $15.70 $12.00 - $21.63 8 64 Companion $15.75 $12.00 - $21.63 8 63 Mixed No data. No data. No data. No data. Equine No data. No data. No data. No data. Food/farm No data. No data. No data. No data. Table 4: Non-CVT Type of Medicine Median Compensation Range Median Years of Experience Responses All $12.00 $9.00 - $17.00 3 45 Companion $12.00 $9.00 - $17.00 3 43 Mixed No data. No data. No data. No data. Equine $12.75 $12.00 - $13.50 2 2 Food/farm No data. No data. No data. No data.


Assistant Compensation is expressed as an hourly rate. Table 1: Type of Medicine Type of Medicine Median Compensation Range Median Years of Experience Responses All $9.75 $7.50 - $14.40 2 80 Companion $9.75 $7.80 - $14.40 2 75 Mixed $7.80 $7.50 - $10.00 2 3 Equine $12.25 $11.00 - $13.50 2 2 Food/farm No data. No data. No data. No data. Table 2: Experience

Front Office Staff Compensation is expressed as an hourly rate. Table 1: Type of Medicine Type of Medicine Median Compensation Range Median Years of Experience Responses All $11.50 $8.75 - $20.00 3 115 Companion $11.50 $8.75 - $20.00 3 108 Mixed $11.00 $10.00 - $12.00 <1 2 Equine $13.50 $10.00 - $16.00 3 5 Food/farm No data. No data. No data. No data. Table 2: Experience

Years of Experience Median Compensation Range Responses <1 to 5 $9.63 $7.50 - $14.40 70 6 to 10 $10.88 $9.50 - $13.00 8 11 to 15 No data. No data. No data. 16 to 20 No data. No data. No data. 21 to 25 No data. No data. No data. 26+ No data. No data. No data.

Years of Experience Median Compensation Range Responses <1 to 5 $11.00 $8.75 - $18.35 89 6 to 10 $13.50 $10.00 - $18.00 15 11 to 15 $14.75 $11.25 - $17.25 6 16 to 20 $13.10 $13.00 - $13.20 2 21 to 25 No data. No data. No data. 26+ $15.75 $14.50 - $17.00 2


Benefits The following tables summarize benefits offered to the practice team in the Portland Metro area, including payment for professional fees and continuing education, medical and related insurance benefits, as well as retirement and profit sharing plans. Professional Fees DVM Table 1: Professional Fees: Reimbursement/Payment Offered Yes No Responses 28 4 32 Table 2: Professional Fees: Amount of Reimbursement/Payment Offered $100 – 200 $200 – 500 $500 – 1,000 $1,000 – 2,000 N/A Responses 0 10 15 4 3 32 Certified Staff Table 1: Professional Fees: Reimbursement/Payment Offered Yes No N/A Responses 24 6 3 33 Table 2: Professional Fees: Amount of Reimbursement/Payment Offered $100 – 200 $200 – 500 $500 – 1,000 N/A Responses16 8 1 8 33


Continuing Education DVM Table 1: DVM CE: Reimbursement/Payment Offered Yes No Responses 27 5 32 Table 2: DVM CE: Cap on Reimbursement/Payment Yes No N/A Responses 19 8 6 33 Table 3: DVM CE: Maximum Dollar Amount Median Range Responses $1,500 $500 – 2,000 19 Comments:

• $1,500 includes travel • $2,500 per 2 year period

Table 4: DVM CE: Frequency of Reimbursement/Payment Every Year Every Other Year N/A Responses27 0 6 33 Table 5: DVM CE: Percentage of Registration Fees Reimbursed/Paid 0% 1 – 24% 25 - 49% 50 - 74% 75 - 99% 100% Responses6 0 0 3 1 22 32 Table 6: DVM CE: Percentage of Travel, Lodging and Food Reimbursed/Paid 0% 1 – 24% 25 - 49% 50 - 74% 75 - 99% 100% Responses7 1 0 2 6 16 32


Continuing Education, cont. Practice Team Table 1: Team CE: Reimbursement/Payment Offered Yes No Responses 31 2 33 Table 2: Team CE: Cap on Reimbursement/Payment Yes No N/A Responses 13 17 3 33 Table 3: Team CE: Maximum Dollar Amount Median Range Responses $500 $300 – 1,000 13 Comments:

• Varies. • Approx. $700 per year for FT.

Table 4: Team CE: Frequency of Reimbursement/Payment Every Year Every Other Year N/A Responses29 2 2 33 Table 5: Team CE: Percentage of Registration Fees Reimbursed/Paid 0% 1 - 24% 25 - 49% 50 - 74% 75 - 99% 100% Responses3 0 1 4 0 24 32 Table 6: Team CE: Percentage of Travel, Lodging and Food Reimbursed/Paid 0% 1 - 24% 25 - 49% 50 - 74% 75 - 99% 100% Responses7 1 1 3 5 16 33


Medical & Other Insurance Table 1: Medical Insurance Offered to Employees Yes No Responses 29 5 34 Table 2: Minimum Hours Worked to Be Eligible for Medical Insurance 1 – 17 17.5 - 25 26 - 34 35+ 40 N/A Responses 0 2 12 13 1 5 33 Table 3: Employer Medical Insurance Premium Payment Related to Number of Hours Worked Yes No N/A Responses 6 23 5 34 Table 4: Employer Paid Percentage of Employee Medical Insurance Premium 0% 1 - 24% 25 - 49% 50 - 74% 75 - 99% 100% Proportionate to Hours N/A Responses0 0 0 11 8 10 3 4 36 Table 5: Employer Paid Percentage of Employees’ Dependent Medical Insurance Premium 0% 1 - 24% 25 - 49% 50 - 74% 75 - 99% 100% N/A Responses29 0 0 0 0 1 4 34 Table 6: Other Insurance Offered to Employees Dental Vision Disability Life N/A 12 5 6 6 16 Table 7: Employer Paid Percentage of Employees’ Other Insurance Premiums Dental Vision Disability Life Median Median Median Median 50% 75% 100% 100% Range Range Range Range 25 - 100% 50 - 80% 85 - 100% 100% Table 8: Other Insurance Offered to Employees’ Dependents Dental Vision Disability Life 4 1 3 3 Table 9: Employer Paid Percentage of Dependents’ Other Insurance Premiums Dental Vision Disability Life Median Median Median Median 0% 0% 0% 0% Range Range Range Range 0% 0 % 0 % 0%


Retirement Savings Plan Table 1: Retirement Savings Plan Offered to Employees Yes No Responses 23 11 34 Table 2: Eligibility Based on Length of Service Yes No N/A Responses 18 5 11 34 Table 3: Required Length of Service to Participate in Retirement Savings Plan 0 - 3 months 4 - 6 months 7 m. - 1 year More than 1 year N/A Responses 5 2 7 7 13 34 Table 4: Employer Contribution to Retirement Savings Plan for DVMs 0% 1% 2% 3% 4% 5% More than 5% N/A Responses 0 1 2 14 2 1 3 10 33 Table 5: Employer Contribution to Retirement Savings Plan for Staff 0% 1% 2% 3% 4% 5% More than 5% N/A Responses 1 0 2 14 2 1 3 10 33


Profit Sharing Plan Table 1: Profit Sharing Plan Offered to Employees Yes No DVM Only Responses 21 12 1 34 Table 2: Details of Plan

• ~2-3% of salary.

• If monthly goal is reached. Each employee is given additional $1 per hour worked for that time period, must have completed introductory period.

• Production bonus monthly - if minimum production maintained and Christmas bonus annually

• Profit sharing plan that typically varies from 7-10 of their total compensation for the year, is contributed. Five

year vesting schedule. No employee contribution. Plan is age weighted and has 3 classes based on compensation levels.

• Profit sharing primarily through 401(k) - was a SEP plan until this year.

• If the clinic exceeds the previous years’ income per month the employees receive a bonus of their income for

the month.

• Employees have goals to meet for their specific job, eg receptionist # of appt.s set, for techs services sold and they get bonuses on meeting those goals. Drs. get a percentage of services sold above their base, currently 22%.

• Must have q profit of at least 4,000 per month payments made quarterly. Staff only receive profit sharing

based on 8% of gross up to 500 each

• The employee profit share plan is currently based on a % of the increase of gross revenues split among eligible full-time employees.

• Head tech and head receptionist each receive 0.5% of the gross income each month. DVM's receive a base

pay or 22% of their gross production each month.

• 5% of the increase in gross rev.

• Gain shared based on increase in portion of revenue less the expenses the employees have influence on.

• Bonus program for non-DVM staff only is 10% of increase comparing quarterly increase in profits.

• Monthly Bonus based on practice goals

• Christmas bonus based on length of employment, profit during the year and qualitatively on performance as an employee.

• Opperman recommended plan. Increase of net profit compared to same quarter previous year, percent of that

distributed to employees based on how many hours they work.


• It is an informal plan that is based upon the increase in the number of exams or other parameters comparing the same quarter of the previous year.

• Sep retirement plan, plus profit sharing on 10% of amount above monthly goal redistributed to all hourly

employees based on number of hours worked, plus weekly bonuses of $5-15 based on weekly goals.

• End of year bonus based on merit and length of service.

• $2 off vet bill for every hour worked (practice manager)

ovma compensation & benefits survey results portland metro

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