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Getting your career started Getting your career started Presentation Transcript

  • 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 takeWant to take somesome emergency callsemergency calls  Be a self starter with some experienceBe 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 forWork for << average wageaverage 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 isFree 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 managementUsually not interested in management or ownership early onor ownership early on View slide
  • 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 View slide
  • Typical Benefits Package  Medical Ins. $ 3,000Medical Ins. $ 3,000 Dues/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.LiabilityProf.Liability ( $1-3 M )( $1-3 M ) 234234 Total $ 8,084Total $ 8,084
  • 2009 DVM STARTING SALARIES/INDEBTEDNESS JAVMA,235:5, Sept. 1, 2009 MeanMean 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-$115k Avg. 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+86 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 inin Google will provide a largeGoogle will provide a large number of sites. CNN is a goodnumber of sites. CNN is a good site. Check more than 1 site and besite. Check more than 1 site and be aware of home purchase vs renting.aware of home purchase vs renting. Home purchase willHome 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 monthlyLimit monthly payments to 25- 30% of grosspayments to 25- 30% of gross incomeincome Student Loans:Student Loans: Limit monthlyLimit monthly payments to 10 - 15% of grosspayments 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.govwww.loanconsolidation.ed.gov www.paycheckcity.comwww.paycheckcity.com salary.comsalary.com www.csfloans.comwww.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 type COL, Geography (zipskinny.com)COL, Geography (zipskinny.com)  ExperienceExperience Board CertificationBoard Certification # DVM’s in practice# DVM’s in practice **** OWNERSHIPOWNERSHIP Financing:Financing: www.matsco.comwww.matsco.com;; www.liveoakbank.comwww.liveoakbank.com
  • Average Salary for All Private Practices
  • America's 50 highest-paying jobs, as reported by the Bureau of Labor Statistics 11 SurgeonsSurgeons $177,690$177,690 22 AnesthesiologistsAnesthesiologists $174,240$174,240 33 Obstetricians and GynecologistsObstetricians and Gynecologists $171,810$171,810 44 OrthodontistsOrthodontists $163,410$163,410 55 Oral and Maxillofacial SurgeonsOral and Maxillofacial Surgeons $160,660$160,660 66 Internists, GeneralInternists, General $156,550$156,550 77 PsychiatristsPsychiatrists $146,150$146,150 88 ProsthodontistsProsthodontists $146,080$146,080 99 Family and General PractitionersFamily and General Practitioners $140,370$140,370 1010 Chief ExecutivesChief Executives $139,810$139,810 1111 Pediatricians, GeneralPediatricians, General $139,230$139,230 1212 Airline Pilots, Copilots and Flight EngineersAirline Pilots, Copilots and Flight Engineers $135,040$135,040 1313 Dentists, GeneralDentists, General $133,680$133,680 1414 PodiatristsPodiatrists $111,250$111,250 1515 LawyersLawyers $110,520$110,520 1616 Air Traffic ControllersAir Traffic Controllers $105,820$105,820 1717 Engineering ManagersEngineering Managers $105,470$105,470 1818 VeterinariansVeterinarians $103,041$103,041 1919 Computer and Information Systems ManagersComputer and Information Systems Managers $102,360$102,360 2020 Marketing ManagersMarketing Managers $101,990$101,990 2121 AstronomersAstronomers $101,360$101,360 2222 Natural Sciences ManagersNatural Sciences Managers $99,140$99,140 2323 Sales ManagersSales Managers $98,510$98,510 2424 Petroleum EngineersPetroleum Engineers $97,350$97,350 2525 Financial ManagersFinancial Managers $96,620$96,620 2626 Law Teachers, PostsecondaryLaw Teachers, Postsecondary $95,570$95,570 2727 OptometristsOptometrists $95,500$95,500 2828 General and Operations ManagersGeneral and Operations Managers $95,470$95,470 2929 Computer and Information Scientists, ResearchComputer and Information Scientists, Research $94,030$94,030 3030 Judges, Magistrate Judges and MagistratesJudges, Magistrate Judges and Magistrates $91,500$91,500 3131 PhysicistsPhysicists $91,480$91,480 3232 ActuariesActuaries $90,760$90,760 3333 Nuclear EngineersNuclear Engineers $90,690$90,690 3434 IndustrialIndustrial $89,980$89,980 3535 Human Resources ManagersHuman Resources Managers $89,950$89,950 3636 PharmacistsPharmacists $88,650$88,650 3737 Securities, Commodities /Financial Services Sales AgentsSecurities, Commodities /Financial Services Sales Agents $87,990$87,990 3838 Health Diagnosing and Treating PractitionersHealth Diagnosing and Treating Practitioners $87,630$87,630 3939 Computer Hardware EngineersComputer Hardware Engineers $87,170$87,170 4040 Public Relations ManagersPublic Relations Managers $85,820$85,820 4141 Aerospace EngineersAerospace Engineers $85,450$85,450 4242 Political ScientistsPolitical Scientists $84,820$84,820 4343 Physical ScientistsPhysical Scientists $84,380$84,380 4444 Computer Software Engineers, Systems SoftwareComputer Software Engineers, Systems Software $84,310$84,310 4545 Personal Financial AdvisorsPersonal Financial Advisors $82,970$82,970 4646 Health Specialties Teachers, PostsecondaryHealth Specialties Teachers, Postsecondary $82,450$82,450 4747 ChiropractorsChiropractors $82,060$82,060 4848 Industrial Production ManagersIndustrial Production Managers $81,960$81,960 4949 Construction ManagersConstruction Managers $81,760$81,760 5050 Purchasing ManagersPurchasing Managers $81,440$81,440
  • FINANCIAL BOTTOM LINE Live conservatively now and continueLive conservatively now and continue for 3-5 years after graduationfor 3-5 years after graduation Start investments early – ROTH IRAStart investments early – ROTH IRA Buy-in or start own practice within 3-Buy-in or start own practice within 3- 5 years5 years Negotiate best compensation packageNegotiate best compensation package for first job ( salary or incentive )for first job ( salary or incentive ) 20% x gross + benefits20% x gross + benefits
  • PROFESSIONAL RESUME
  • RESUME PREPARATION 1. Trying to get attention of1. Trying to get attention of employer (30-40 seconds)employer (30-40 seconds) 2. Organization2. Organization EducationEducation ExperienceExperience ActivitiesActivities AffiliationsAffiliations ReferencesReferences
  • RESUME Baton D. Rouge 1745 Azalea Drive Baton Rouge, LA 70800 Phone 225-555-1234 E-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 EXPERIENCE Assistant 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, 2009 Small Animal Referral Surgeon Riverbank, 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 EXPERIENCE Office Assistant Hargrove & Associates, Inc. Summer 2009 Cutoff, Louisiana Performed computer assisted tasks utilizing word processing and spreadsheet. Restaurant Employee Armadillo Club Summers 2004,2008 Baton Rouge, Louisiana Six years of progressive responsibility with this regional restaurant chain. ACTIVITIES AND ACCOMPLISHMENTS Student Small Animal Commission 2008-2012 Representative Louisiana Veterinary Medical Association Attended 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-Present Board 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 AFFILIATIONS Delta Society – Attended national convention, Parsippany, New Jersey, Feb. , 2009 American Veterinary Medical Association, Student Chapter – 2009-2012 American Association of Feline Practitioners – 2009-2012 PROFESSIONAL / PERSONAL INTERESTS Small Animal Surgery Pet Loss and Grief Counseling Jogging REFERENCES Available upon request
  • REFERENCES  LIST ON SEPARATE SHEETLIST ON SEPARATE SHEET  3 TO 4 PEOPLE3 TO 4 PEOPLE  ONLY USE PEOPLE WHOONLY USE PEOPLE WHO KNOW YOU VERY WELLKNOW YOU VERY WELL  OBTAIN PRIOR PERMISSIONOBTAIN PRIOR PERMISSION  BE CAREFUL ABOUTBE CAREFUL ABOUT FACEBOOKFACEBOOK
  • JOB INTERVIEW
  • EMPLOYMENT SELECTION  Practice SA-LA-MixedPractice SA-LA-Mixed  Commercial/ IndustryCommercial/ Industry  Education - specializationEducation - specialization  Government/ PublicGovernment/ Public HealthHealth Organized V. M. (AVMA,Organized V. M. (AVMA, AAHA, State VMAs)AAHA, State VMAs)
  • LOCATION SELECTION  Area of countryArea of country  Type of community(size)Type of community(size) web-siteweb-site  Type of practice/ businessType 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 = ++ PositivePositive ++
  • 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 quietDo you have ready a quiet place?place?  Do you have a small glass ofDo 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  SalarySalary JAVMA Fall issue?JAVMA Fall issue?  BenefitsBenefits  Living costsLiving costs ( cost of living calculator )( cost of living calculator )
  • TOTAL COMPENSATION (Salary plus benefits)  Vacation (5-10 days)Vacation (5-10 days)  Sick days ?(5Sick days ?(5 days)days) CE days (3 days)CE days (3 days)  Dues for VMA’sDues for VMA’s  LicenseLicense  MovingMoving ExpenseExpense  Malpractice Ins.Malpractice Ins.  **Medical Ins.**Medical Ins.  401(k)401(k)  Vehicle (LA)Vehicle (LA)  DisabilityDisability Ins.Ins. Life Ins.Life Ins.
  • RECOGNITION OF QUALITY PRACTICE  Offer CE support ( costs +Offer CE support ( costs + days )days ) Offer Profit Sharing ( mustOffer Profit Sharing ( must have profit to have this )have profit to have this )  Have Procedures Manual thatHave 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 mind Total Comp. $77K min.Total Comp. $77K min.
  • NEGOTIATION FLEXIBILITY  Show, tell, listen, be politeShow, tell, listen, be polite and be firmand be firm Work contractsWork contracts ((get it in writing!!get it in writing!!))  Start dateStart date  Final selectionFinal 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 soWhen 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?