Background: There is a shortage of equine veterinarians. Understanding what factors are associated with job satisfaction in equine veterinarians can inform interventions to increase retention in equine medicine. Objective: To explore the prominent factors causing work dissatisfaction and burnout in equine veterinarians. Study design: A qualitative research study was conducted that consisted of semi-structured focus groups. Methods: Thirty-seven current and former equine veterinarians across the United States were recruited via snowball and convenience sampling to answer questions on work history, work-life balance, and perceptions of equine practice. Transcripts were analyzed in Delve and coded in the context of the Conservation of Resources (COR) theory. A card sorting activity was used to rank the four types of resources in the COR theory (condition, object, energy, personal). Results: Condition resources were the most frequently mentioned reasons for work dissatisfaction. These included issues with discrimination or bias due to age, race/ethnicity, and gender, unpredictable and long hours, and heavy workload. Object resources, such as equipment, were rarely mentioned. Energy resources, including pay and student loan debt, were influential, with most participants feeling that equine veterinarians are underpaid. Personal resources, such as problem-solving skills and enjoyment in helping others, improved job satisfaction. Main limitations: Although recruiting efforts prioritized perspectives of black, indigenous, and people of color (BIPOC), lesbian, gay, bisexual, transgender, queer plus (LGBTQ+) identities, and members with disabilities, demographic information was not directly collected. Conclusions: The main barriers to equine veterinary retention included lack of work-life balance, long hours, lower-than-expected pay, and issues with discrimination and bias. This study highlights areas for intervention to improve the equine veterinary field, such as higher pay, rural practice incentives, and effective diversity, equity, inclusion, and belonging (DEIB) efforts. A shift toward caseload-sharing between veterinarians could help alleviate excessive emergency on-call and burnout.