Many early-career veterinarians are focused on building their skills, but are less aware of financial literacy.
While this is understandable, not knowing your production value can be a costly mistake—a mistake that can leave you overworked, underpaid, and even burned out.
In this article, I’ll show you why knowing your production isn’t just about numbers—it’s about owning your growth and long-term satisfaction. Here’s why it matters and what to do once you have the data.
Working without a benchmark: One vet’s story
Recently, I heard from a young, hard-working veterinarian and former Ready, Vet, Go mentee who’d been pouring her heart and soul into every case. She shared with me that, after completing a particular learning module on knowing your worth, she realized that—as a salaried employee—she had no idea how much revenue she was generating for the clinic. Although her practice leadership initially questioned her request, she persisted and discovered that she was generating a million dollars for her practice.
This helped her realize two important things:
- She wasn’t earning nearly what she should’ve been.
- She’s a kickass veterinarian.
Cultural and financial value: You bring more than medicine
Your worth to your clinic is immense and multifaceted. It includes clinical, emotional, and cultural value. But at the end of the day, veterinary practices are businesses. Understanding how your efforts translate into revenue is part of operating within that system. Even if you’re not paid on production, it still plays a role in how your compensation and sustainability are evaluated.
Understanding production: A breakdown
At its core, production is the total revenue generated from the services, procedures, and diagnostics you perform. While pay structures vary, a common benchmark is that veterinarians earn about 20% to 25% of their production, with benefits factored into this amount.
Knowing your numbers comes down to more than what’s on your paycheck; it’s about:
- Understanding how your work supports the practice financially, which can help provide leverage for new equipment purchases, continuing education, or Ready, Vet, Go mentorship
- Tracking your progress in a measurable way
- Reflecting on your growth
Used thoughtfully, production isn’t a pressure point. It’s a professional tool that benefits you and your practice.
Show me the numbers: Asking for your production report
When we talk about knowing your financial value, some Ready, Vet, Go mentees get uncomfortable. Asking to see the numbers, as a new associate or early career veterinarian, can feel assertive or even greedy, but viewing the conversation as an act of responsibility, not confrontation, can make all the difference.
- Make it a habit — Ask regularly for your reports. Monthly or quarterly numbers will give you the insights you need to track your individual growth and your impact on the practice.
- Approach it professionally — Sharing the why behind your request can go a long way and show that you’re genuinely invested in your growth and the long-term success of the practice. (e.g., “I’d love to start tracking my progress and understanding my contribution.”)
- Express gratitude — While you are entitled to see your numbers, showing appreciation helps open the door to productive conversations and stronger relationships.
What to do with the numbers
Use your production value to inform next steps:
- If you’re exceeding expectations (Or your current salary) — If your production is strong, it may be time to renegotiate your contract, request a raise, or ask for a bonus.
If you’re under-producing — While this can be disappointing to learn, it’s not unusual. Many practices lose money on new graduates during their first year or two, but recognize them as an investment. Take this idea and work to improve your production through mentorship, skills development, and continuing education.
Ready to renegotiate? Keep these tips in mind
When it comes to negotiating a higher salary, knowledge really is power. Leveraging production numbers for better compensation shows practice leadership that your request is well-founded and based on consistent performance.
To ensure the best outcomes, approach renegotiation with care and professionalism. This includes:
- When and how to request a meeting — Ensure you’ve been at the practice long enough to demonstrate consistent performance.
- Thoughtful timing — Avoid busy periods or times of upheaval, such as an ownership change. This ensures leadership can give you their full attention. Approach the meeting as a check-in, not a demand. Bring your data, examples of your contributions, and ideas or goals for future growth.
- Tone — Bring a sense of collaboration and openness, not entitlement. However, be prepared to reinforce your requests with the appropriate data, including production numbers, case volume, and client testimonials.
- Knowing the pros and cons of salary structure — Recognize the trade-offs of production-based pay models like straight production and ProSal. While these may reward your high performance, they can also create added pressure and may provide less financial stability over time. Consider what’s best for you, both in the short-term and long-term, before requesting a change.
Not greed but groundedness
Suppose the young, hardworking veterinarian in my example hadn’t had the confidence to ask leadership for her production reports and learn her financial value. She may have continued to devote herself to an unsustainable level of output without appropriate recognition or support.
She may have questioned her path or her abilities.
She may have changed practices.
She may have left the field entirely.
Without data, dedication can go unnoticed. And that’s a risk we can’t afford. So don’t wait to find out where you stand—start the conversation today.
Ready for more practical early career advice? Ready, Vet, Go Veterinary Mentorship is an innovative online program and community that helps new and early career veterinarians build confidence, gain independence, and experience greater joy. Visit our FAQ page to learn more about what we offer or get in touch with our team.