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I don't know, CityChicker, we're going to have to agree to disagree on that one...having been through 5 years of school and paid off my college loans myself, having a neighbor who went to vet school and knowing some of the inside info that I do, IMO they make quite a bit of money. The markup on the pharmaceuticals is phenomenal, for one. Vets/clinics can pay .89 or less each for those rabies shots we all pay so much for, and that's just one small example! I'd say it depends on the situation and if they work out of a clinic that hired them or alone. Doctors in private practice make quite a bit, but they also have to figure in how little peace they may get if the phone rings in the middle of the night. Plus you have to figure that they are going to have to pay out a *lot* less towards medical malpractice insurance than a human doctor!
I know of one university alone that takes in at least 1100 vet school applications a year and only has 80 seats available per year. People wouldn't be vying so heavily for those seats unless there was serious money to be made. Though the seats generally least sought after are those of Food Production Animal vet. So therein lies the problem for us folks seeking help for our poultry. We have to be our own vets much of the time.
You also have to figure that there are a lot of people out there that wouldn't pay to go to the doctor for themselves but are willing to pay beaucoup bucks for help for their precious pets. And believe me, the veterinary community knows it. I don't know of anywhere that does low-cost tetanus or flu shot clinics for horses, though many of us would load up our horses and travel a reasonable distance for it.
That said, I'd say that there is an argument to be made for timing as well: college is more expensive now than ever before, and more demands are being made of veterinary students to have some prior experience with animals before being given admission to vet school. Good grades are not enough anymore like they were in the past in some places. I'd say people who went to school for it years ago will benefit most, because the costs have increased so much in just the past couple of years and their overhead for education and start-up will have been considerably less than a student entering the profession now.