Veterinarians are feeling the impact of the recession and it's hitting many with salary decreases, according to the 2011 American Veterinary Medical Association (AVMA) Report on Veterinary Compensation.

"It's important to note that average salaries did decline in some types of private practice, including equine and large animal, but these declines clearly could have been worse," says Karen Felsted, CPA, MS, CVPM, chief executive officer of the National Commission on Veterinary Economic Issues. "We know that veterinary visits have declined due to the recession. Veterinarians are not recession proof."

While many veterinarians did see salary losses, the AVMA study shows that average salary for private practice veterinarians increased from $115,447 in 2007 to $121,303 in 2009, largely due to the fact that companion animal exclusive veterinarians saw salary increases from $113,373 to $124,768.

Those practices that saw decreases included mixed animal practices (which had average salaries of $117,201 in 2007 and dropped to $107,064 in 2009), companion animal predominant ($120,462 in 2007 to $117,524)in 2009), and equine veterinarians ($131,195 to $126,641)