Hit The Ground Running - Blue Print For Getting Your Real Estate Career Started
Getting your career started
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Transcript of Getting your career started
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 take Want to take somesome emergency calls emergency calls Be a self starter with some experience Be 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 for Work for << average wage average 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 is Free 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 management Usually not interested in management
or ownership early on or ownership early on
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
Typical Benefits Package
Medical Ins. $ 3,000Medical Ins. $ 3,000Dues/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.Liability Prof.Liability ( $1-3 M )( $1-3 M ) 234 234 Total $ 8,084Total $ 8,084
2009 DVM STARTING SALARIES/INDEBTEDNESS JAVMA,235:5, Sept. 1, 2009
Mean Mean 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-$115kAvg. 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+8 6 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 in in Google will provide a large Google will provide a large number of sites. CNN is a good number of sites. CNN is a good site. Check more than 1 site and be site. Check more than 1 site and be aware of home purchase vs renting. aware of home purchase vs renting. Home purchase will Home 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 monthly Limit monthly payments to 25- 30% of gross payments to 25- 30% of gross income income
Student Loans:Student Loans: Limit monthly Limit monthly payments to 10 - 15% of gross payments 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.gov
www.paycheckcity.com salary.com salary.com
www.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 typeCOL, Geography (zipskinny.com)COL, Geography (zipskinny.com) ExperienceExperienceBoard CertificationBoard Certification# DVM’s in practice# DVM’s in practice
** ** OWNERSHIPOWNERSHIP Financing: Financing: www.matsco.com; ;
www.liveoakbank.com
Average Salary for All Private Practices
America's 50 highest-paying jobs, as reported by the Bureau of Labor Statistics
11 Surgeons Surgeons $177,690 $177,690
22 Anesthesiologists Anesthesiologists $174,240 $174,240
33 Obstetricians and Gynecologists Obstetricians and Gynecologists $171,810 $171,810
44 Orthodontists Orthodontists $163,410 $163,410
55 Oral and Maxillofacial Surgeons Oral and Maxillofacial Surgeons $160,660 $160,660
66 Internists, General Internists, General $156,550 $156,550
77 Psychiatrists Psychiatrists $146,150 $146,150
88 Prosthodontists Prosthodontists $146,080 $146,080
99 Family and General Practitioners Family and General Practitioners $140,370 $140,370
1010 Chief Executives Chief Executives $139,810 $139,810
1111 Pediatricians, General Pediatricians, General $139,230 $139,230
1212 Airline Pilots, Copilots and Flight Engineers Airline Pilots, Copilots and Flight Engineers $135,040 $135,040
1313 Dentists, General Dentists, General $133,680 $133,680
1414 Podiatrists Podiatrists $111,250 $111,250
1515 Lawyers Lawyers $110,520 $110,520
1616 Air Traffic Controllers Air Traffic Controllers $105,820 $105,820
1717 Engineering Managers Engineering Managers $105,470 $105,470
1818 VeterinariansVeterinarians $103,041 $103,041
1919 Computer and Information Systems Managers Computer and Information Systems Managers $102,360 $102,360
2020 Marketing Managers Marketing Managers $101,990 $101,990
2121 Astronomers Astronomers $101,360 $101,360
2222 Natural Sciences Managers Natural Sciences Managers $99,140 $99,140
2323 Sales Managers Sales Managers $98,510 $98,510
2424 Petroleum Engineers Petroleum Engineers $97,350 $97,350
2525 Financial Managers Financial Managers $96,620 $96,620
2626 Law Teachers, Postsecondary Law Teachers, Postsecondary $95,570 $95,570
2727 Optometrists Optometrists $95,500 $95,500
2828 General and Operations Managers General and Operations Managers $95,470 $95,470
2929 Computer and Information Scientists, Research Computer and Information Scientists, Research $94,030 $94,030
3030 Judges, Magistrate Judges and Magistrates Judges, Magistrate Judges and Magistrates $91,500 $91,500
3131 Physicists Physicists $91,480 $91,480
3232 Actuaries Actuaries $90,760 $90,760
3333 Nuclear Engineers Nuclear Engineers $90,690 $90,690
3434 IndustrialIndustrial $89,980 $89,980
3535 Human Resources Managers Human Resources Managers $89,950 $89,950
3636 Pharmacists Pharmacists $88,650 $88,650
3737 Securities, Commodities /Financial Services Sales Agents Securities, Commodities /Financial Services Sales Agents $87,990 $87,990
3838 Health Diagnosing and Treating Practitioners Health Diagnosing and Treating Practitioners $87,630 $87,630
3939 Computer Hardware Engineers Computer Hardware Engineers $87,170 $87,170
4040 Public Relations Managers Public Relations Managers $85,820 $85,820
4141 Aerospace Engineers Aerospace Engineers $85,450 $85,450
4242 Political Scientists Political Scientists $84,820 $84,820
4343 Physical Scientists Physical Scientists $84,380 $84,380
4444 Computer Software Engineers, Systems Software Computer Software Engineers, Systems Software $84,310 $84,310
4545 Personal Financial Advisors Personal Financial Advisors $82,970 $82,970
4646 Health Specialties Teachers, Postsecondary Health Specialties Teachers, Postsecondary $82,450 $82,450
4747 Chiropractors Chiropractors $82,060 $82,060
4848 Industrial Production Managers Industrial Production Managers $81,960 $81,960
4949 Construction Managers Construction Managers $81,760 $81,760
5050 Purchasing Managers Purchasing Managers $81,440 $81,440
5151 Advertising and Promotions Managers Advertising and Promotions Managers $81,250 $81,250
FINANCIAL BOTTOM LINE
Live conservatively now and continue for 3-5 Live conservatively now and continue for 3-5 years after graduationyears after graduation
Start investments early – ROTH IRAStart investments early – ROTH IRABuy-in or start own practice within 3-5 yearsBuy-in or start own practice within 3-5 yearsNegotiate best compensation package for first Negotiate best compensation package for first
job ( salary or incentive ) job ( salary or incentive ) 20% x gross + benefits 20% x gross + benefits
PROFESSIONAL RESUME
RESUME PREPARATION
1. Trying to get attention of 1. Trying to get attention of employer (30-40 seconds) employer (30-40 seconds)
2. Organization2. OrganizationEducationEducationExperienceExperienceActivitiesActivitiesAffiliationsAffiliationsReferencesReferences
RESUMEBaton D. Rouge
1745 Azalea DriveBaton Rouge, LA 70800
Phone 225-555-1234E-mail [email protected]
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 EXPERIENCEAssistant 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, 2009Small Animal Referral SurgeonRiverbank, 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 EXPERIENCEOffice Assistant Hargrove & Associates, Inc. Summer 2009
Cutoff, Louisiana Performed computer assisted tasks utilizing word processing and spreadsheet.Restaurant Employee Armadillo Club Summers 2004,2008Baton Rouge, Louisiana Six years of progressive responsibility with this regional restaurant chain.
ACTIVITIES AND ACCOMPLISHMENTSStudent Small Animal Commission 2008-2012Representative Louisiana Veterinary Medical AssociationAttended 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-PresentBoard 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 AFFILIATIONSDelta Society – Attended national convention, Parsippany, New Jersey, Feb. , 2009American Veterinary Medical Association, Student Chapter – 2009-2012American Association of Feline Practitioners – 2009-2012
PROFESSIONAL / PERSONAL INTERESTSSmall Animal SurgeryPet Loss and Grief CounselingJogging
REFERENCESAvailable upon request
REFERENCES
LIST ON SEPARATE SHEETLIST ON SEPARATE SHEET 3 TO 4 PEOPLE3 TO 4 PEOPLE ONLY USE PEOPLE WHO ONLY USE PEOPLE WHO
KNOW YOU VERY WELLKNOW YOU VERY WELL OBTAIN PRIOR PERMISSIONOBTAIN PRIOR PERMISSION BE CAREFUL ABOUT BE CAREFUL ABOUT
FACEBOOKFACEBOOK
JOB INTERVIEW
EMPLOYMENT SELECTION
Practice SA-LA-MixedPractice SA-LA-Mixed Commercial/ IndustryCommercial/ Industry Education - specializationEducation - specialization Government/ Public Government/ Public
HealthHealth Organized V. M. (AVMA, Organized V. M. (AVMA, AAHA, State VMAs)AAHA, State VMAs)
LOCATION SELECTION Area of country Area of country Type of community(size) Type of community(size) web-siteweb-site
Type of practice/ business Type 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 = ++ Positive Positive ++
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 quiet Do you have ready a quiet
place?place? Do you have a small glass of Do 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 Salary Salary JAVMA Fall issue? JAVMA Fall issue? BenefitsBenefits Living costs Living costs ( cost of living calculator )( cost of living calculator )
TOTAL COMPENSATION(Salary plus benefits)
Vacation (5-10 days)Vacation (5-10 days)
Sick days ?(5 Sick days ?(5 days)days) CE days (3 days)CE days (3 days)
Dues for VMA’sDues for VMA’s
LicenseLicense Moving Moving
ExpenseExpense
Malpractice Ins.Malpractice Ins.
**Medical Ins.**Medical Ins.
401(k)401(k) Vehicle (LA)Vehicle (LA)
Disability Disability Ins.Ins. Life Ins.Life Ins.
RECOGNITION OF QUALITY PRACTICE
Offer CE support ( costs + Offer CE support ( costs + days )days )
Offer Profit Sharing ( must Offer Profit Sharing ( must have profit to have this )have profit to have this )
Have Procedures Manual that Have 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 mindTotal Comp. $77K min. Total Comp. $77K min.
NEGOTIATION FLEXIBILITY
Show, tell, listen, be polite Show, tell, listen, be polite and be firm and be firm
Work contracts Work contracts ((get it in writing!!get it in writing!!))
Start dateStart date
Final selection -Final 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 so When 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?