Pharmacist Salary Thread

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Last year increases were between 0 and 3% depending on performance....
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I got more than a 2% raise last year. Of course, I ran away from retail.
 
bigpharmD said:
Exactly. You cant compare these salaries, they are from different economic systems. Look at what a pharmacist makes at the VA here in the US. I know some making well over 100 grand a year with sweet benefits and way more time off than me.
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Sorry,
I am an IT person from Europe and sttld in USA and interested to know about the salaries of pharmacists in VA. I want to check this career for my daughter.
Also why do ppl think salaries wouldnt go down, I have 22 yrs of experience in the IT market. We first used to get paid like 150$ an hour or 100$ an hour in coding technologies, but now we are paid only 80K/yr. Then what way the pharmacists are different, and coming to economics I am an economics major ,, and first rule of economics says when supply increases demand decreses and when demand decreases prices should fall to keep up the sale. so the manufacturers keep up the demand and supply market by manufacturing only the right amount of products,, so convert this to the manpower in any field
 
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ITmember said:
Sorry,
I am an IT person from Europe and sttld in USA and interested to know about the salaries of pharmacists in VA. I want to check this career for my daughter.
Also why do ppl think salaries wouldnt go down, I have 22 yrs of experience in the IT market. We first used to get paid like 150$ an hour or 100$ an hour in coding technologies, but now we are paid only 80K/yr. Then what way the pharmacists are different, and coming to economics I am an economics major ,, and first rule of economics says when supply increases demand decreses and when demand decreases prices should fall to keep up the sale. so the manufacturers keep up the demand and supply market by manufacturing only the right amount of products,, so convert this to the manpower in any field
Click to expand...

Why did the compensation in your field go down? Because it's all being outsourced to India and there's many more graduates in the field than there was 22 years ago. Pharmacy schools are pumping out record #'s of students and job growth is relatively stagnant right now. More competition for a job = can offer less money and will still get someone to fill it. Thus, many people think pharmacist salaries will decline.
 
CK8652 said:
Why did the compensation in your field go down? Because it's all being outsourced to India and there's many more graduates in the field than there was 22 years ago. Pharmacy schools are pumping out record #'s of students and job growth is relatively stagnant right now. More competition for a job = can offer less money and will still get someone to fill it. Thus, many people think pharmacist salaries will decline.
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I must agree with you.
 
Personally, I really don't think that salaries will go below $70 k a year but then who can predict the future.

Pharmacy is very different than IT. Information System field does not requires any professional license nor are they govern by rules and regulation. On the other hand, pharmacy is a professional license career with rules and regulation to follow.

You can't just wake up one day and think that you will learn the latest drug interaction by reading textbook. Where, information technology field you can hit the nearest barnes and noble, pick up latest C# book or media and call your self web designer by end of the day.

Just my two cent.

Pharmacy is very solid carrer and it will be for next twenty years.

Ben
 
HelpMeGetInto said:
Personally, I really don't think that salaries will go below $70 k a year but then who can predict the future.

Pharmacy is very different than IT. Information System field does not requires any professional license nor are they govern by rules and regulation. On the other hand, pharmacy is a professional license career with rules and regulation to follow.

You can't just wake up one day and think that you will learn the latest drug interaction by reading textbook. Where, information technology field you can hit the nearest barnes and noble, pick up latest C# book or media and call your self web designer by end of the day.

Just my two cent.

Pharmacy is very solid carrer and it will be for next twenty years.

Ben
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As someone with an Information Technology degree I vehemently disagree with your characterization of information technology, programming, web design, etc. While the lack of professional standards is one of the reasons why I'm pursuing Pharmacy, to say that a person can just read a book and become a web designer is outrageous. That would be akin to someone picking up a Pharmacy Technician textbook and deducing that they were a pharmacist. Anyone working in the tech field seeking 70K must have solid foundations in computer science, which requires many years of hard work. Otherwise, they would be stuck in much lower paying jobs.

I'm sorry if I'm somewhat harsh but this is one of my pet peeves. I'm sure that pharmacists would be offended to be characterized merely as pill counters. Which is akin to Information Tech or Computer Science graduates getting lumped with people who write crappy programs learning from a book, who have one tenth the ability and know-how.
 
diastole said:
I don't think that is right. I seem to remember from my student loan counseling session that the loans go away if you die. They don't transfer to your spouse or children.
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True, the loans are non transferable
 
What about loan forgiveness? I heard this bill mentions something regarding this.
 
PolarBearFire said:
As someone with an Information Technology degree I vehemently disagree with your characterization of information technology, programming, web design, etc. While the lack of professional standards is one of the reasons why I'm pursuing Pharmacy, to say that a person can just read a book and become a web designer is outrageous. That would be akin to someone picking up a Pharmacy Technician textbook and deducing that they were a pharmacist. Anyone working in the tech field seeking 70K must have solid foundations in computer science, which requires many years of hard work. Otherwise, they would be stuck in much lower paying jobs.

I'm sorry if I'm somewhat harsh but this is one of my pet peeves. I'm sure that pharmacists would be offended to be characterized merely as pill counters. Which is akin to Information Tech or Computer Science graduates getting lumped with people who write crappy programs learning from a book, who have one tenth the ability and know-how.
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All you pharm ppl outthere be careful, the number of indian and foreign nationals who used to study IT previously are studying pharmacy now, as they all know of high salaries and flexibility in the career. Its age of information, nothing is a secret anymore. I would rather ask my daughter to look into a field of her interst than just telling her about the money every field generates
 
I'm not sure where some people posting on here is getting that an RN makes anywhere near what a pharmacist does. I am in my 2nd year of pharmacy school and I am currently finishing an IPPE in Florida. Florida is one of the states where we are starting to see saturation in the market but I know for a fact that RNs make no where near what a pharmacist does. Matter of fact, an ARNP, PA, and a nurse anesthetist may come a little closer but they still don't pay as well as pharmacy. I have several nurses in my family and one has been in the field for years and with her working all nights for the extra pay she may make 33-35/hr. Retail in florida ranges from 48 to 58 per hour. Hospital pharmacy, FOR A STAFF PHARMACIST-NOT A CLINICAL PHARMACIST, ranges from 47-50 per hour. If you have a residency I have been told by several pharmacy directors that you can expect in the high 50's per hour to start. I have a family member who works in human resources for a very popular group of hospitals that recently informed me that they have been trying like hell to get staff pharmacists and they are paying 48/hr. Now, I'm didn't choose pharmacy for the money but I will say this. There is no way in hell I would take a job for 77k a year! If salaries ever go down below 100k I think there would be a huge drop in pharmacy students. No one will want to go to school that long and invest that kind of money to not make a decent salary.
 
FishPharm said:
I'm not sure where some people posting on here is getting that an RN makes anywhere near what a pharmacist does. I am in my 2nd year of pharmacy school and I am currently finishing an IPPE in Florida. Florida is one of the states where we are starting to see saturation in the market but I know for a fact that RNs make no where near what a pharmacist does. Matter of fact, an ARNP, PA, and a nurse anesthetist may come a little closer but they still don't pay as well as pharmacy. I have several nurses in my family and one has been in the field for years and with her working all nights for the extra pay she may make 33-35/hr. Retail in florida ranges from 48 to 58 per hour. Hospital pharmacy, FOR A STAFF PHARMACIST-NOT A CLINICAL PHARMACIST, ranges from 47-50 per hour. If you have a residency I have been told by several pharmacy directors that you can expect in the high 50's per hour to start. I have a family member who works in human resources for a very popular group of hospitals that recently informed me that they have been trying like hell to get staff pharmacists and they are paying 48/hr. Now, I'm didn't choose pharmacy for the money but I will say this. There is no way in hell I would take a job for 77k a year! If salaries ever go down below 100k I think there would be a huge drop in pharmacy students. No one will want to go to school that long and invest that kind of money to not make a decent salary.
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Tell that to law students.
 
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WVUPharm2007 said:
Here's a few concrete pay numbers I know of...based upon asking friends...and looking for jobs myself...

Northern WV; retail: $51/hr
Northern WV; hospital, academic: $42/hour
Western PA; mail order: $55/hr
Western PA; hospital, local: $42/hr
Western PA; hospital, local: $38/hr (offset by being given a pension rather than a ****ty 401k)
Western PA; hospital, regional: $40/hr
Pittsburgh, PA; hospital, academic: $37/hr (Yup...UPMC...and this is why Pitt sucks...)
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Wow - so I know this is almost a year old now, but my grad intern rate beats some of these salaries.

Off topic WVU, but I assume from your avatar you've read the Outlander series?? Or is it just a coincidence (I know you've said you are Scots-Irish) that you are Fraser?
 
crazybob said:
I've heard from some guy at school about a job offer for a pharmacist that was 186K. I don't know if anyone actually accepted it.
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I think someone in my class took that position. Not a job I would want.
 
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Rxbound said:
I think someone in my class took that position. Not a job I would want.
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I looked up the town on city-data.com and ArkansasRanger told me about options I should consider for protection if I want to work in a place like that :laugh:
 
pharmRxn said:
why did the salary go up in 2002-2003? is it because of the MMA in 2003 that allowed medicare part D to cover prescription medications for 65+ patients?
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it also has to do with the disppearing BS in pharmacy and only PharmD programs decreasing the number of graduates and increasing the demand.

ITmember said:
All you pharm ppl outthere be careful, the number of indian and foreign nationals who used to study IT previously are studying pharmacy now, as they all know of high salaries and flexibility in the career. Its age of information, nothing is a secret anymore. I would rather ask my daughter to look into a field of her interst than just telling her about the money every field generates
Click to expand...

FINALLY SOMEONE WHO UNDERSTANDS ECONOMICS! he is 100% right. IT decreased in salary due to those same issues. IT was very lucrative at one time. Problem is, more and more were able to do it and compete with a lower $$$ demand. thus driving down the compensation and increasing the number of people doing it.

CK8652 said:
Why did the compensation in your field go down? Because it's all being outsourced to India and there's many more graduates in the field than there was 22 years ago. Pharmacy schools are pumping out record #'s of students and job growth is relatively stagnant right now. More competition for a job = can offer less money and will still get someone to fill it. Thus, many people think pharmacist salaries will decline.
Click to expand...

mark my words PHARMACIST SALARIES WILL DECLINE!!!!!!!!!!!!!

you have a number of problems:

1.) new schools keep opening up
2.) people are NOT retiring
3.) More and more graduates are coming out each year
4.) Reimbursement is DECREASING
5.) Education costs are INCREASING
6.) Lack of expansion of the profession into other roles in healthcare
7.) Lack of significant lobbying ability
8.) Take over by Chain pharmacies

Here are the problems you face. People are graduating these private pharmacy schools at $200,000+ in debt. Since you CANNOT work for yourself in pharmacy, you depend on an employer. An employer has you BY THE BALLS. The surplus allows them to hire anyone they want at ANY RATE THEY WANT. With falling reimbursement rates, they will drop salaries. If you wont take that salary, that's ok, the NEW GRAD with MASSIVE debt who MUST PAY his bills will take it or anything for the matter.

Your pharmacy organizations are garbage and have done NOTHING to advance pharmacy in the USA. Thus you are basically in the same models you were 20 yrs ago.

Pharmacy is seriously a sinking ship. If you do not see that, you are blind. For anyone here that thinks salaries will not fall, you are incorrect. Do some reading on supply and demand. Why would someone hire you for 100k when they can hire 2 people for 50k? Do the math. Since you are not able to work for yourself OR provide a service/procedure that generates money, you have no ability to function alone. Chain pharmacies have the pricing they want for the drugs. $4 GENERICS is killing independents.

Everyone says oh you can move to a better place, that is just the big cities. You are incorrect. Do some serious thinking about this, in the UK the salaries are low there as well. There was an influx of European pharmacists into the UK which diminished the shortage of which they had.

Pharmacy is too hands off. You aren't doing procedures that can be sold and spread among a community of people. Just having drug knowledge isnt going to cut it. Advanced technology and CPOE will flag prescribers of drug interactions immediately when entering orders. Do you really think they are going to pay a pharmacist 100k to sit and verify an order? To look at it and say, ya that looks good? HELL NO!!! Nursing sticks together and a lot of them are driven by unions. They are right with the patients. Pharmacists do not administer medication, they can administer a vaccine if you do the extra training. This shows that there is no real expansion of the education.

The ONLY way pharmacy will ever get a control on the problem is mandating residencies and extra training after school. Problem is, what extra training are you going to mandate when you haven't even expanded your profession.

Pharmacy = sinking

The End
 
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rxlynn said:
Wow - so I know this is almost a year old now, but my grad intern rate beats some of these salaries.

Off topic WVU, but I assume from your avatar you've read the Outlander series?? Or is it just a coincidence (I know you've said you are Scots-Irish) that you are Fraser?
Click to expand...

'Tis my ancient clan's coat of arms. Originally in the highlands of Scotland...then my peeps moved to Ulster...and then to the US. We'll beat the **** out of you. Historically. You know that Braveheart movie...that's us...
 
WVUPharm2007 said:
'Tis my ancient clan's coat of arms. Originally in the highlands of Scotland...then my peeps moved to Ulster...and then to the US. We'll beat the **** out of you. Historically. You know that Braveheart movie...that's us...
Click to expand...

You mean the ones that showed their asses? That was in the movie braveheart, right?
 
PharmaTope said:
it also has to do with the disppearing BS in pharmacy and only PharmD programs decreasing the number of graduates and increasing the demand.



FINALLY SOMEONE WHO UNDERSTANDS ECONOMICS! he is 100% right. IT decreased in salary due to those same issues. IT was very lucrative at one time. Problem is, more and more were able to do it and compete with a lower $$$ demand. thus driving down the compensation and increasing the number of people doing it.



mark my words PHARMACIST SALARIES WILL DECLINE!!!!!!!!!!!!!

you have a number of problems:

1.) new schools keep opening up
2.) people are NOT retiring
3.) More and more graduates are coming out each year
4.) Reimbursement is DECREASING
5.) Education costs are INCREASING
6.) Lack of expansion of the profession into other roles in healthcare
7.) Lack of significant lobbying ability
8.) Take over by Chain pharmacies

Here are the problems you face. People are graduating these private pharmacy schools at $200,000+ in debt. Since you CANNOT work for yourself in pharmacy, you depend on an employer. An employer has you BY THE BALLS. The surplus allows them to hire anyone they want at ANY RATE THEY WANT. With falling reimbursement rates, they will drop salaries. If you wont take that salary, that's ok, the NEW GRAD with MASSIVE debt who MUST PAY his bills will take it or anything for the matter.

Your pharmacy organizations are garbage and have done NOTHING to advance pharmacy in the USA. Thus you are basically in the same models you were 20 yrs ago.

Pharmacy is seriously a sinking ship. If you do not see that, you are blind. For anyone here that thinks salaries will not fall, you are incorrect. Do some reading on supply and demand. Why would someone hire you for 100k when they can hire 2 people for 50k? Do the math. Since you are not able to work for yourself OR provide a service/procedure that generates money, you have no ability to function alone. Chain pharmacies have the pricing they want for the drugs. $4 GENERICS is killing independents.

Everyone says oh you can move to a better place, that is just the big cities. You are incorrect. Do some serious thinking about this, in the UK the salaries are low there as well. There was an influx of European pharmacists into the UK which diminished the shortage of which they had.

Pharmacy is too hands off. You aren't doing procedures that can be sold and spread among a community of people. Just having drug knowledge isnt going to cut it. Advanced technology and CPOE will flag prescribers of drug interactions immediately when entering orders. Do you really think they are going to pay a pharmacist 100k to sit and verify an order? To look at it and say, ya that looks good? HELL NO!!! Nursing sticks together and a lot of them are driven by unions. They are right with the patients. Pharmacists do not administer medication, they can administer a vaccine if you do the extra training. This shows that there is no real expansion of the education.

The ONLY way pharmacy will ever get a control on the problem is mandating residencies and extra training after school. Problem is, what extra training are you going to mandate when you haven't even expanded your profession.

Pharmacy = sinking

The End
Click to expand...

dude you better get out while you can!!
 
type b pharmD said:
more proof that retail sucks. at my previous job (hospital chain) .. 4%!

however.. there were certain ... well. let's just say there were some certain unsavory things one had to put up with to work for them
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Lack of raises or scanty raises isn't proof of anything except a poor economy. My husband hasn't had one in a while and he works for an enormous shipping and logistics corporation. They aren't promoting either, matching gift program is suspended and bonuses are out. It's a problem everywhere, not just in pharmacy.
 
All4MyDaughter said:
Lack of raises or scanty raises isn't proof of anything except a poor economy. My husband hasn't had one in a while and he works for an enormous shipping and logistics corporation. They aren't promoting either, matching gift program is suspended and bonuses are out. It's a problem everywhere, not just in pharmacy.
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Everyone wants pharmacy to be special, though.

Can't have an economic down turn in pharmacy, no sirree bob.

Hell, it's even harder to enlist in the damn Army than it was when I enlisted in '03.
 
Passion4Sci said:
Everyone wants pharmacy to be special, though.

Can't have an economic down turn in pharmacy, no sirree bob.

Hell, it's even harder to enlist in the damn Army than it was when I enlisted in '03.
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Perhaps you're referring to another poster who wants pharmacy to be "special?" I said that pharmacy is experiencing the economic downturn that the rest of the country is. Pharmacy isn't recession proof, but I don't think it's been hit any harder by the economy than other fields, necessarily.
 
My area hasn't changed too much. But I live in one of the following states: South Dakota, Nebraska, and North Dakota.
 
WVUPharm2007 said:
'Tis my ancient clan's coat of arms. Originally in the highlands of Scotland...then my peeps moved to Ulster...and then to the US. We'll beat the **** out of you. Historically. You know that Braveheart movie...that's us...
Click to expand...

Very cool! If you have any interest in historical fiction, then you really need to read the Outlander series (author is Diana Gabaldon). Quite a few of the main male characters are Frasers, and the books actually have a reasonable bit of pharmacology/medicine in them, because the main female character is a physician.
 
PharmaTope said:
mark my words PHARMACIST SALARIES WILL DECLINE!!!!!!!!!!!!!

you have a number of problems:

1.) new schools keep opening up
2.) people are NOT retiring
3.) More and more graduates are coming out each year
4.) Reimbursement is DECREASING
5.) Education costs are INCREASING
6.) Lack of expansion of the profession into other roles in healthcare
7.) Lack of significant lobbying ability
8.) Take over by Chain pharmacies

Here are the problems you face. People are graduating these private pharmacy schools at $200,000+ in debt. Since you CANNOT work for yourself in pharmacy, you depend on an employer. An employer has you BY THE BALLS. The surplus allows them to hire anyone they want at ANY RATE THEY WANT. With falling reimbursement rates, they will drop salaries. If you wont take that salary, that's ok, the NEW GRAD with MASSIVE debt who MUST PAY his bills will take it or anything for the matter.

Your pharmacy organizations are garbage and have done NOTHING to advance pharmacy in the USA. Thus you are basically in the same models you were 20 yrs ago.

Pharmacy is seriously a sinking ship. If you do not see that, you are blind. For anyone here that thinks salaries will not fall, you are incorrect. Do some reading on supply and demand. Why would someone hire you for 100k when they can hire 2 people for 50k? Do the math. Since you are not able to work for yourself OR provide a service/procedure that generates money, you have no ability to function alone. Chain pharmacies have the pricing they want for the drugs. $4 GENERICS is killing independents.

Everyone says oh you can move to a better place, that is just the big cities. You are incorrect. Do some serious thinking about this, in the UK the salaries are low there as well. There was an influx of European pharmacists into the UK which diminished the shortage of which they had.

Pharmacy is too hands off. You aren't doing procedures that can be sold and spread among a community of people. Just having drug knowledge isnt going to cut it. Advanced technology and CPOE will flag prescribers of drug interactions immediately when entering orders. Do you really think they are going to pay a pharmacist 100k to sit and verify an order? To look at it and say, ya that looks good? HELL NO!!! Nursing sticks together and a lot of them are driven by unions. They are right with the patients. Pharmacists do not administer medication, they can administer a vaccine if you do the extra training. This shows that there is no real expansion of the education.

The ONLY way pharmacy will ever get a control on the problem is mandating residencies and extra training after school. Problem is, what extra training are you going to mandate when you haven't even expanded your profession.

Pharmacy = sinking

The End
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BINGO!!!!


:thumbup:
 
When dealing with retail yes, pay is going to get cut...however if you specialize or do something besides retail you should be fine. Its because 80% of people go to retail and when you have a high supply like that off course your the future is going to be screwd. However this is all a cycle, things will fall back into place and then once again have a high supply of pharmacists. People need to get smarter and adapt to this by specializing or offering something more unique that would make you different from others.

Main Message: Start specializing
 
PharmaTope said:
mark my words PHARMACIST SALARIES WILL DECLINE!!!!!!!!!!!!!

you have a number of problems:

1.) new schools keep opening up
2.) people are NOT retiring
3.) More and more graduates are coming out each year
4.) Reimbursement is DECREASING
5.) Education costs are INCREASING
6.) Lack of expansion of the profession into other roles in healthcare
7.) Lack of significant lobbying ability
8.) Take over by Chain pharmacies
Click to expand...

I take issue with 6 and 8. 6 because expansion doesn't seem possible when doctors don't want pharmacists to expand into their territory. 8 because the idea of "independents can't make it" is just stupid.

But 7 is definitely true which is why I don't belong to any pharmacy organizations. It reminds me of student council waaaaay back in high school, it was just a name and the organization didn't do much.

Here are the problems you face. People are graduating these private pharmacy schools at $200,000+ in debt. Since you CANNOT work for yourself in pharmacy, you depend on an employer. An employer has you BY THE BALLS. The surplus allows them to hire anyone they want at ANY RATE THEY WANT. With falling reimbursement rates, they will drop salaries. If you wont take that salary, that's ok, the NEW GRAD with MASSIVE debt who MUST PAY his bills will take it or anything for the matter.
Click to expand...

That's the graduates fault for thinking that chain pharmacies are the only way to go.

Pharmacy is seriously a sinking ship. If you do not see that, you are blind. For anyone here that thinks salaries will not fall, you are incorrect. Do some reading on supply and demand. Why would someone hire you for 100k when they can hire 2 people for 50k? Do the math. Since you are not able to work for yourself OR provide a service/procedure that generates money, you have no ability to function alone. Chain pharmacies have the pricing they want for the drugs. $4 GENERICS is killing independents.
Click to expand...

Why a pharmacist would work for less than $80,000 is beyond me. $4 generics are NOT killing independents either.

Everyone says oh you can move to a better place, that is just the big cities. You are incorrect. Do some serious thinking about this, in the UK the salaries are low there as well. There was an influx of European pharmacists into the UK which diminished the shortage of which they had.
Click to expand...

Right now I'm looking at an ad for a hospital pharmacist in the south with a starting salary of $120,000 no experience required and this town isn't really big.

The idea of pharmacy as a sinking ship is very interesting and probably true. I've already mentioned that I had an intern that was looking into law school but one thing I haven't mentioned is the intern I had that dropped mid rotation. I never had one problem with them and they seemed to very interested in pharmacy (I would hope so if you're on your advanced rotations!) but they stopped showing up, stopped answering my calls, and just flat disappeared. The Dean of her school ended up calling me to apologize and told me that this student discussed with said Dean about pharmacy and how they didn't see it being a profession worth working in. I've heard of advanced rotation students thinking about dropping but never have I heard of a student actually do it, especially since they came so far with all that schooling and debt. But I guess if they planned on going back to school for something else they should do it sooner rather than later.
 
DrPepsi said:
I take issue with 6 and 8. 6 because expansion doesn't seem possible when doctors don't want pharmacists to expand into their territory. 8 because the idea of "independents can't make it" is just stupid.

But 7 is definitely true which is why I don't belong to any pharmacy organizations. It reminds me of student council waaaaay back in high school, it was just a name and the organization didn't do much.



That's the graduates fault for thinking that chain pharmacies are the only way to go.



Why a pharmacist would work for less than $80,000 is beyond me. $4 generics are NOT killing independents either.



Right now I'm looking at an ad for a hospital pharmacist in the south with a starting salary of $120,000 no experience required and this town isn't really big.

The idea of pharmacy as a sinking ship is very interesting and probably true. I've already mentioned that I had an intern that was looking into law school but one thing I haven't mentioned is the intern I had that dropped mid rotation. I never had one problem with them and they seemed to very interested in pharmacy (I would hope so if you're on your advanced rotations!) but they stopped showing up, stopped answering my calls, and just flat disappeared. The Dean of her school ended up calling me to apologize and told me that this student discussed with said Dean about pharmacy and how they didn't see it being a profession worth working in. I've heard of advanced rotation students thinking about dropping but never have I heard of a student actually do it, especially since they came so far with all that schooling and debt. But I guess if they planned on going back to school for something else they should do it sooner rather than later.
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plus, if chains were only offering 50k im sure independents would be more profitable again.
 
Pharmacists salaries may decline some but I think a more realistic scenario is that pay will not increase as cost of living increases. New pharmacists may struggle finding a job for the next few years but the fact is that people are getting older and they are taking more medications. There will also be pharmacists retiring, even if they have to hold on to a job a little longer than expected due to the economic climate. I think some people on this board are afraid that pharmacy will essentially be phased out as a profession. This would never happen, even if our scope of practice doesn't expand much. Prescription drugs are just going to become even more regulated than they are now and retail pharmacists will still be making the highest salaries. This is because retail pharmacy is the most difficult job that a pharmacist can take on. Long hours, few breaks, standing all day, and being yelled at for no good reason by your customers. Not to mention the liability we take on. Another reason that it will never be phased out is public safety. As pharmacists this is our number one function, and the moment they give more dispensing power to physicians and nurses there will be more deaths from medication misuse. If you're worried about the profession, hang on to your job and pay off your student loans ASAP instead of buying a BMW or two. And if they do cut pharmacist salaries to $50K (which they won't), that will just create another shortage because: 1) people will stop becoming pharmacists because $50K isn't worth it, and 2) existing pharmacists may decide to go into another profession altogether. I know I would. I'd go get a BS or MS in Cardiovascular Perfusion and make $95K a year. Unless I could find a job as a nuclear pharmacist because I love that ****.
 
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GamecockPharmD said:
Pharmacists salaries may decline some but I think a more realistic scenario is that pay will not increase as cost of living increases. New pharmacists may struggle finding a job for the next few years but the fact is that people are getting older and they are taking more medications. There will also be pharmacists retiring, even if they have to hold on to a job a little longer than expected due to the economic climate. I think some people on this board are afraid that pharmacy will essentially be phased out as a profession. This would never happen, even if our scope of practice doesn't expand much. Prescription drugs are just going to become even more regulated than they are now and retail pharmacists will still be making the highest salaries. This is because retail pharmacy is the most difficult job that a pharmacist can take on. Long hours, few breaks, standing all day, and being yelled at for no good reason by your customers. Not to mention the liability we take on. Another reason that it will never be phased out is public safety. As pharmacists this is our number one function, and the moment they give more dispensing power to physicians and nurses there will be more deaths from medication misuse. If you're worried about the profession, hang on to your job and pay off your student loans ASAP instead of buying a BMW or two. And if they do cut pharmacist salaries to $50K (which they won't), that will just create another shortage because: 1) people will stop becoming pharmacists because $50K isn't worth it, and 2) existing pharmacists may decide to go into another profession altogether. I know I would. I'd go get a BS or MS in Cardiovascular Perfusion and make $95K a year. Unless I could find a job as a nuclear pharmacist because I love that ****.
Click to expand...


i think it really depends on how healthcare reform will play into this.

with doctors reimbursement rates being cut (significantly) as well as prescription drug reimbursement, we will essentially have more patients with less reimbursemtn.

more work, less money. and with the surplus of pharmacists, which is inevitable, to handle more work, salaries will definitely go down.

*edit, this is also all speculation LOL. so...yea.
 
bear9288 said:
i think it really depends on how healthcare reform will play into this.

with doctors reimbursement rates being cut (significantly) as well as prescription drug reimbursement, we will essentially have more patients with less reimbursemtn.

more work, less money. and with the surplus of pharmacists, which is inevitable, to handle more work, salaries will definitely go down.

*edit, this is also all speculation LOL. so...yea.
Click to expand...

Healthcare reform is another huge variable in this equation of how pharmacy could get ****ed. All we can do is hope for the best and prepare for the worst. Like I said earlier, I don't think it is going to get as bad as what other people are saying on this thread, but I could be wrong. I finished my PharmD in May and I've been thinking of pursuing another degree in a few years to stand out a bit since I didn't go the residency route. I'm working retail now because I'm tired of being poor. I'm thinking of doing a part-time dual MBA/MS that the University of Florida and Stetson University offer but I've also got enough student loan debt. Hopefully the PharmD will be enough for the future but who knows. Like you said this is all speculation.
 
anybody know how much an inpatient pharmacist gets paid at the VA? General estimate/average would be helpful. Thanks.
 
raja1234 said:
When dealing with retail yes, pay is going to get cut...however if you specialize or do something besides retail you should be fine. Its because 80% of people go to retail and when you have a high supply like that off course your the future is going to be screwd. However this is all a cycle, things will fall back into place and then once again have a high supply of pharmacists. People need to get smarter and adapt to this by specializing or offering something more unique that would make you different from others.

Main Message: Start specializing
Click to expand...
Your point would make sense, except that residency-trained positions and the need for specialists is dwindling. Duh...
 
GamecockPharmD said:
I finished my PharmD in May and I've been thinking of pursuing another degree in a few years to stand out a bit since I didn't go the residency route. I'm working retail now because I'm tired of being poor. I'm thinking of doing a part-time dual MBA/MS that the University of Florida and Stetson University offer but I've also got enough student loan debt. Hopefully the PharmD will be enough for the future but who knows. Like you said this is all speculation.
Click to expand...
Stop kidding yourself and cut the BS.

If you're serious about going back to school, then go all the way and gain a new profession, like: med, law, or dental.
 
rxlea said:
[citation required]
Click to expand...
Classified ads and career fairs. Go check 'em out. ;)

This isn't the type of economy that tends to more positions being created. Cut-backs are the trend, so unless something revolutionary happens that just so happens to also be a related to a pharmacy specialty, then there's no reason for more specialized positions to develop.
 
Last edited:
rxlynn said:
Wow - so I know this is almost a year old now, but my grad intern rate beats some of these salaries.

Off topic WVU, but I assume from your avatar you've read the Outlander series?? Or is it just a coincidence (I know you've said you are Scots-Irish) that you are Fraser?
Click to expand...

Grad interns make more than some of the above? I have a friend who just got her FPGEC and is working as an intern at Med-X. She's earning only $17.00/hour. :-(
 
PharmDstudent said:
Classified ads and career fairs. Go check 'em out. ;)

This isn't the type of economy that tends to more positions being created. Cut-backs are the trend, so unless something revolutionary happens that just so happens to also be a related to a pharmacy specialty, then there's no reason for more specialized positions to develop.
Click to expand...

Geez...it's not looking good, is it?

Do you think this is likely to change when older pharmacists retire? Or do you think these positions are being filled by younger, residency trained PharmDs?
 
FutureDoc07 said:
I am graduating in one week and I am so excited. Even though I have not found a job, I am concentrating on studying and passing the NAPLEX..

So how is that paycheck like? I am just thinking and daydreaming.... I cannot wait to see the FRUITS of all this labor and hard work.....

... LOL..... I love the patients too:)
Click to expand...

:beat:
 
FutureDoc07 said:
I am graduating in one week and I am so excited. Even though I have not found a job, I am concentrating on studying and passing the NAPLEX..

So how is that paycheck like? I am just thinking and daydreaming.... I cannot wait to see the FRUITS of all this labor and hard work.....

... LOL..... I love the patients too:)
Click to expand...

Maybe you should take care of that before dreaming too big.
 
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