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- Nov 3, 2008
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Ours are not declining, but they are stagnating. What used to be average raises of 5-7% are now 2%, 2.75% if you are a top performer.
ugh
We're discussing changing from 10 to 12 hour shifts - if we do this, it will effectively be a 10% paycut because we would lose those 8 hours a pay period.
It's an interesting discussion, for sure.
I think that is how corporate is essentially giving everyone a pay cut in every industry. They are doing it by cutting hours.
I can never imagine someone taking a pay cut directly. That is the worst way to engage employees.
I doubt independent pharmacies can compete with corporates in this country.
I have actually never seen this happen to a pharmacist other than a local hospital quit paying the "work 70 get paid for 80" to their overnight rph's.We're discussing changing from 10 to 12 hour shifts - if we do this, it will effectively be a 10% paycut because we would lose those 8 hours a pay period.
It's an interesting discussion, for sure.
Salaries of entry-level health-system pharmacists are expected to decline by at least 10% over the next five years, according to the American Society of Health-System Pharmacists (ASHP)’s new report,
This suggests the prospect for erosion of starting salaries for pharmacists and, indeed, 60% of FPs said that it is at least somewhat likely that salaries will decline by up to 10% over the next five years for newly hired entry-level general-practice healthsystem pharmacists
I have actually never seen this happen to a pharmacist other than a local hospital quit paying the "work 70 get paid for 80" to their overnight rph's.
It's actually not our managements proposition - it's myself and the other younger pharmacists who already feel like we've shot our entire day working 10.5 hours at this hospital in BFE. Why not work 2 more hours every day and get an extra day off?
When something like this is published in Drug Topics, you need to understand there's a component of sensational journalism that plays a role. Sure.. maybe some hospitals will lower the rate in next 5 years which I highly doubt. My goal is to keep increasing the salary while I keep hiring more and more qualified pharmacists.
Understand, this isn't something that will occur across the board, if at all.
^^ not this crap again. You and I went back and forth about this a few years ago. Hospital pharmacists are not immune to the supply and demand curve.
I think you just have a hard time accepting the fact that hospital pharmacists are not special. This saturation hurts everyone. New grads will be paid less. Raises will be 0-3% per year. Upper management will then question why they are paying pharmacist A $50 an hour while paying pharmacist B $65 an hour for the same work. It is just a matter of time.
In essentially all health systems that have pharmacy residents, the residents will provide essential patient care services (i.e., if the residents were not there, additional pharmacist staff would have to be hired for these essential services).
Forty-eight percent of panelists believe it is “very likely” and 35% said it is “somewhat likely” that at least 50% of health systems will require accredited residency training for entry-level clinical positions in pharmacy practice.
Global warming is coming..and the melting ice will flood the world.
You could go 5 days 8 hours...
But this will increase total FTE because someone else will have to work the 4th day, correct?
I think you just have a hard time accepting the fact that hospital pharmacists are not special.
Better pack your things and work at Z's unnamed hospital where pharmacists are being overpaid and grad interns make as much as a pharmacist.
Whatever happened to you opening multiple clinics run by pharmacists? Too bad he didn't realize the provider status approved in California is still very limited.
The point is to spend as little time in BFE as possible, not add a day!
But yes, 12hr shifts actually increase the FTE situation.
But you wouldn't qualify to work for me.
It's going well. Put a pharmacist in a pain clinic. Sorry to disappoint you. And while you were asleep, we started a brand new PGY1, opened a retail pharmacy with a robust transitional care, oncology infusion center, and personally...a consulting business I have to turn down some jobs...including a major PBM in CA.
We are offering new grads less now. It was $110,000 yearly 2 years ago for a new grad and last year we dropped it to 98,000. We still had plenty of applicants. Raises have been 0-2% for several years and there is no differential for nights or weekends.^^ not this crap again. You and I went back and forth about this a few years ago. I will say it again...hospital pharmacists are not immune to the supply and demand curve.
I think you just have a hard time accepting the fact that hospital pharmacists are not special. This saturation hurts everyone. New grads will be paid less. Raises will be 0-3% per year. Upper management will then question why they are paying pharmacist A $50 an hour while paying pharmacist B $65 an hour for the same work. It is just a matter of time.
We are offering new grads less now. It was $110,000 yearly 2 years ago for a new grad and last year we dropped it to 98,000. We still had plenty of applicants. Raises have been 0-2% for several years and there is no differential for nights or weekends.
Vacation time starts accruing from day 1 and they are eligible for benefits as soon as they start except for the 401k. That becomes available after 6 months. We are non-profit so they can also take advantage of PSLF.That is a big cut! If you take inflation into consideration, it is even a bigger cut.
How long do new grads need to wait for benefits?
You think your admin will approve it?
We are offering new grads less now. It was $110,000 yearly 2 years ago for a new grad and last year we dropped it to 98,000. We still had plenty of applicants. Raises have been 0-2% for several years and there is no differential for nights or weekends.
We are also expanding services. The pharmacy world Z lives in sounds a lot like mine. Pharmacy is valued and doctors want us on their services. The job satisfaction is real. The health system is going to find out what that job satisfaction is worth in real dollars. How low they can go before having less applicants or turnover due to pay stagnation.
Doesn't that mean that you will just take on more residents and pay them $40k or whatever to do the work of the pharmacy department INSTEAD OF fully paid pharmacists?Had no idea that you'd take anything from ASHP as a gospel...so let's be fair about it. If you'll side with the 60% of the panel who believe the salary will decline...then would you side with 92% of the panel who believes this?
Or will you pick and choose what you want to believe for your own agenda?
"In essentially all health systems that have pharmacy residents, the residents will provide essential patient care services (i.e., if the residents were not there, additional pharmacist staff would have to be hired for these essential services)."
But you wouldn't qualify to work for me.
It's going well. Put a pharmacist in a pain clinic. Sorry to disappoint you. And while you were asleep, we started a brand new PGY1, opened a retail pharmacy with a robust transitional care, oncology infusion center, and personally...a consulting business I have to turn down some jobs...including a major PBM in CA.
They've said they would be open to discuss it.
They like having a younger more clinically savvy team, and they understand that those of us who aren't married with kids yet are getting really tired of spending the majority of our time 60-90 minutes outside of the city.
We've been expanding too! And we all got raises! But then again this post is subject to selective hearing.
Hey where's this thing you said you'd send me a long time ago?
I did that for 4 years, I loved my time off (four day weekends). Although most RPh's I work with start to decline in productivity at 9-10 hours. I personally would advocate for 4 x 10 hour daysOh I'd love a 12hr day.
Doesn't that mean that you will just take on more residents and pay them $40k or whatever to do the work of the pharmacy department INSTEAD OF fully paid pharmacists?
This one is even better:
"Twenty-five percent said it is “very likely” and 41 percent said it is “somewhat likely” that at least 50% of health-system pharmacy students on experiential rotations will provide essential patient-care services."
Just use unpaid students to do all the work!
Heh.. your DOP and I are very good friends...you know that.. and I have pictures to prove it. Was with him last week at a conference and of course at ASHP. How familiar are you with his "Car" troubles??
Very..very....very familiar. lol.
I'm talking both cars..
More work + less money = going to escape hospital and instead buy my own pharmacy in a few years
I'd come up with a better backup plan than that!
I have nothing else. Waste away at Express Scripts? Maybe I should make that my backup plan.
Ours are not declining, but they are stagnating. What used to be average raises of 5-7% are now 2%, 2.75% if you are a top performer.
ugh
You could go 5 days 8 hours...
But this will increase total FTE because someone else will have to work the 4th day, correct?
our hospital have 10% raises in back to back years around 2000. (to bad I wasn't working then). But I have averaged 5% a year until the last two,The only time I have every gotten a 5 - 7% raise is by changing jobs (that was easy to do during the 2000's) Especially hospital, I've never seen a hospital giving a 5 - 7% raise. The different workplaces I've had were either raises frozen, 0 - 3%, or 0 - 5% (with nobody ever actually getting the top 3% or 5%.
Wages are definitely stagnating, and they are falling for new grads. Where this will end up at remains to be seen.
what would you do for the 35k sign on bonus that I got?I would cream my pants if I got a 10% raise.