Salary from day one
We all have bills to pay and finding the money when starting your own business can be a scary thing. That’s why all our partners receive a salary from day one.
Salary levels for our Joint Venture Partner veterinary surgeons are typically £40,000 although we are always happy to discuss individual needs. Nurse Partners are also able to receive a salary from day one and this is usually between £19,000 and £24,000 depending on the agreed role.
Salaries for the rest of your team are agreed with you and people related activities are supported by The People Team.
As the Joint Venture Partner, you own the A Shares of your business which entitle you to all of the profits from the business and from any future sale of the A Shares. Dividends are payable twice a year.
JVP Benefit Scheme
The Vet Group has a Pension Scheme available through Legal and General. You can choose how much to pay each pay period with no minimum amount after completing 3 months ‘Service. After a year Employer contributions will then start
All employees are enrolled on group life cover at Pets at Home which gives benefit of 4 x salary on death. In addition JVPs also receive life cover for the value of the bank loan, for as long as they have one, which ensures this is paid off in the event of their death.
All our JVPs benefit from Income Protection of 75% of qualifying earnings until the age of 60. The waiting period is 13 weeks and the benefit increases at 3% per annum in payment. Qualifying earnings include salary, bonus and dividends with bonus and dividends averaged over the preceding 3 years.
Provides a lump sum to clear outstanding loans used to purchase a practice.
All colleagues receive 20% discount at Pets at Home, Rideaway and Vets4Pets or Companion Care surgeries. In addition to this colleagues can benefit from a variety of Corporate discounts and benefits schemes.
All of our Partners are entitled to 28 days holiday per annum including public holidays and this rises after 2 full years of service to 33 days including public holidays. Any locum Vet or Nurse costs to cover your holiday will already be factored into your business plan.
Initially, it is likely that you will want to spend as much time as possible building your new business, as you will want to establish disciplines and protocols - setting the foundations for your practice to build a fantastic reputation for patient care and client service. However, it is important that you take time away from the business as there is a real benefit for the practice to have you recharge your batteries and be a motivated and motivating Partner.