miles otoole
Well-known member
- Joined
- May 7, 2004
- Posts
- 948
NuGuy said:KS, I have to agree, but there is more at work than just that.
A friends wife is a DMV. She told me exactly the same thing was going on in the vet business. Vet school is exceedingly expensive and hard to get into, so you would think there would be lots of pricing power on the other end.
But she said that the people going through vet school now were mostly trust fund babies. A place to send "smart" kids who don't have the people skills for an MD, and get them out their parent's basement for another 4 years. They've never had to work hard a day in their life. So now, they get out of vet school, and have NO idea how to run a practice or the true value of money.
What happens is that either they go to work for one of the big practice conglomerates, like the VCA, where they make 50-60k/yr OR they get daddy to fund a practice, which runs about 100-125k for a full service office, and then run it at a discount, because there was no "cost of money".
The old timers holler like we do, but they get the same response that we get: the same blank stare and "90k is GOOD money!". Not a thought in their head about the time value of money, cost of services or recouping an investment in training (which for them, was zero). Sound familiar?
Interesting parallel, I thought...
Nu
So,
You're saying that most regional new hire F/Os are trust fund babies who don't know the value of money because their parents still pay all the bills? I think that's unrealistic and an unfair assumption. Most F/Os today struggle economically and will for a longer period of time than their predecessors 10 years ago when upgrades weren't 5 years +. Combine that with the fact that housing prices across the country have recently exploded and you'll see that F/Os today are much worse off than their predecessors.
Also, FWIW, a friend just finished her rotations (externships) as a VET at Ohio State and said every single person in her class except for two were over 30 and had huge loans that would take years to pay off.
What's your solution to increase pay across the industry?