Post Residency Salary

[GoldfishPharmD]

So, I accepted a job offer and I've just been hearing other people's salaries and just wondering if what I got falls in line with what other people in similar areas are getting.

I'm getting $115k a year in the south. A PGY2 internal medicine resident said she was getting $127k in the upper Midwest. I've also heard some horror story about a PGY2 pediatrics resident getting $88k from a very prestigious hospital on the east coast.

I wish I was getting a little more and I should be grateful. Before I graduated and wasn't sure if I was going to end up getting a residency, I took a retail job with Rite-Aid for a safety net. They were offering me $117k a year, so my offer now is really similar to a retail position near the same area.

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[KARM12]

5 yrs ago.....an offer from one of the most well known places to practice in ID --offered me 95k. This seemed to be the going rate back then straight out of residency 95-100k. (Midwest and East Coast).

115K seems reasonable for straight out of residency. It is all relative...I've gotten a 20% raise over the last 4 yrs, so not complaining. It is the job I want and in the location I want. Pure clinical specialist...no staffing..no evenings...no weekends...no holidays... I get my own office!

 

[GoldfishPharmD]

127 seems like an amazing offer,!

I know. I was jealous. lol

 

[GoldfishPharmD]

Clinical position- 113k (no residency)... Some evening required

What area of the country are you?

 

[GoldfishPharmD]

What city?

I don't want to say. It's in the Midwest. Think really prestigious well known hospital in the country.

 

[GoldfishPharmD]

They probably have to pay that much to get anyone to move to Baltimore with everything going on right now.

Oh, not Baltimore. lol. I heard the prestigious place there paid their new peds pharmacist $88k a year.

 

[GoldfishPharmD]

Do you think ppl in clinical position without residency get offered lower than someone with a PGY2... This was my first pure clinical position (4 yr experience tho)

I think if you lack experience and a residency you'd probably get paid less but I don't know this whole pay structure. I'm still a newb. I also feel like do you ever risk bargaining these days the way pharmacy is saturated, especially as someone who is just getting out of residency? Maybe if you already have a job and looking for something else, you can risk losing a position over bargaining for a better salary.

 

[KARM12]

If it is the position that I know was open in your specialty area in my city....be careful...you will for sure be working over 40hrs/week. It has been open forever for a reason!

 

[GoldfishPharmD]

If it is the position that I know was open in your specialty area in my city....be careful...you will for sure be working over 40hrs/week. It has been open forever for a reason!

Hmmm. I won't be in the East coast/Midwest. Heading down south. I think I know what position you're talking about then!

 

[pharmdpharmd]

117k in East coast... It's really up to you to negotiate your salary.. My co-resident got about a 95k and should would have done it for 80k if they offered her that.

if you are looking out there, find out what's a fair compensation (Google and your network can help) and don't be afraid to ask for it

 

[GoldfishPharmD]

117k in East coast... It's really up to you to negotiate your salary.. My co-resident got about a 95k and should would have done it for 80k if they offered her that.

if you are looking out there, find out what's a fair compensation (Google and your network can help) and don't be afraid to ask for it

Yeah, I had a minimum I was willing to accept which was $110k and I got more than that. From doing a comparison, I think I'm going to be compensated fairly.

 

[janeno]

The compensation really depends on location too. I think that I know which place you are talking about with 127k offer - is it in Rochester, MN by any chance? If it is, attracting practitioners to this location is difficult (undesirable weather, smaller town, etc) and that's why they are willing to pay their staff premium salary. Hospitals in bigger cities don't have problems with attracting applicants especially if location is very desirable and thus they can get away with offering less compensation.
In terms of negotiating salary, that's hard. From my research and what I have read, negotiating increase in salary is almost impossible especially in saturated markets but what you can negotiate are fringe benefits - start date, pre-planned vacation, relocation expenses, and other workplace needs. I got offered 115k in very saturated area in Midwest and super interesting job, and I am extremely happy with my offer (my personal cut off was 110k). Yes, it is not 127k but I get to live in my top choice city and have an interesting position.

 

[janeno]

Hmmm. I won't be in the East coast/Midwest. Heading down south. I think I know what position you're talking about then!

I know which place you are talking about . They had position in my specialty too - the job sounded awesome but turnover rate is too high, and I am looking to stay put for at least next 5 years.

 

[GoldfishPharmD]

The compensation really depends on location too. I think that I know which place you talking with 127k offer - is it in Rochester, MN by any chance? If it is, attracting practitioners to this location is difficult (undesirable weather, smaller town, etc) and that's why they are willing to pay their staff premium salary. Hospitals in bigger cities don't have problems with attracting applicants especially if location is very desirable and thus they can get away with offering less compensation.
In terms of negotiating salary, that's hard. From my research and what I have read, negotiating increase in salary is almost impossible especially in saturated markets but what you can negotiate are fringe benefits - start date, pre-planned vacation, relocation expenses, and other workplace needs. I got offer 115k in very saturated area in Midwest and super interesting job, and I am extremely happy with my offer (my personal cut off was 110k). Yes, it is not 127k but I get to live in my top choice city and have an interesting position.

You guessed and yeah you're completely right. I think I just had sticker shock but it's not a fair comparison at all. I also get relocation benefits and payment for BCPS. I'm really excited about where I'm going. I loved the people there and the opportunities I have.

 

[janeno]

You guessed and yeah you're completely right. I think I just had sticker shock but it's not a fair comparison at all. I also get relocation benefits and payment for BCPS. I'm really excited about where I'm going. I loved the people there and the opportunities I have.

Not sure which city in the South you are moving to but I think that you got a really good offer and fringe benefits. Plus, living expenses are cheaper in most Southern cities. And I am sure that the weather will be better than in Midwest and East Coast

 

[confettiflyer]

Oh, not Baltimore. lol. I heard the prestigious place there paid their new peds pharmacist $88k a year.

~$92k-$103k is more like it (if anyone wants the exact exact #, PM me, I'm not gonna post that).

There's also a series of bonuses not included in that figure that add a small (<5% total compensation) but slightly significant amount to the total.

Again PM me if you want info, but I won't reply to anyone with a post count of < 500 or < 2 years tenure on here. Sorry.

 

[PharmBeanz]

So, I accepted a job offer and I've just been hearing other people's salaries and just wondering if what I got falls in line with what other people in similar areas are getting.

I'm getting $115k a year in the south. A PGY2 internal medicine resident said she was getting $127k in the upper Midwest. I've also heard some horror story about a PGY2 pediatrics resident getting $88k from a very prestigious hospital on the east coast.

I wish I was getting a little more and I should be grateful. Before I graduated and wasn't sure if I was going to end up getting a residency, I took a retail job with Rite-Aid for a safety net. They were offering me $117k a year, so my offer now is really similar to a retail position near the same area.

Just amazed to see how far your journey has brought you. All your hard work and determination has paid off!
Congrats on all your success Goldfish!

 

[GoldfishPharmD]

Just amazed to see how far your journey has brought you. All your hard work and determination has paid off!
Congrats on all your success Goldfish!

Thank you! I can't believe I've made it this far. Only a couple more months to go. So close yet so far away! Congrats to you as well! What PGY2 are you doing? ID?

 

[abxk1234]

About the same as you, Goldfish- in the South, post PGY2- so don't fret (mine is just a touch less but still above 110). I didn't negotiate, which I kind of regret. But it is still a great opportunity.

I used a cost of living comparison tool to make myself feel better

~110 in the South is almost comparable to ~150 in Southern CA, which is almost comparable to ~120 in MN

 

[GoldfishPharmD]

About the same as you, Goldfish- in the South, post PGY2- so don't fret (mine is just a touch less but still above 110). I didn't negotiate, which I kind of regret. But it is still a great opportunity.

I used a cost of living comparison tool to make myself feel better

~110 in the South is almost comparable to ~150 in Southern CA, which is almost comparable to ~120 in MN

I used a cost comparison tool too. lol

 

[memoryalpha]

Random question but kind of related--anyone hear anything about pharmacy unions? I'm applying to a position now that they've told me just now is a "union position." I'm not really sure what to make of it because I haven't heard of many positions associated with unions...

Then again where I'm doing residency now has terrible benefits so for someone like me with chronic illness I need to be somewhere with better medical coverage at least... but it's all relative so I don't even know

 

[pharmdpharmd]

Random question but kind of related--anyone hear anything about pharmacy unions? I'm applying to a position now that they've told me just now is a "union position." I'm not really sure what to make of it because I haven't heard of many positions associated with unions...

Then again where I'm doing residency now has terrible benefits so for someone like me with chronic illness I need to be somewhere with better medical coverage at least... but it's all relative so I don't even know

Unions are relatively common in NYC area hospitals.

It just means job security, better benefit, and a relatively small amount taken out of ur paycheck for dues.

The "bad" thing about it is probably job security for everybody, good and bad employees.

If you are into changing the world and cutting edge clinical practice, it's not probably the best place to be.

If you want a good paying, easy going job with good benefits, it's probably a good place to be

 

[memoryalpha]

Unions are relatively common in NYC area hospitals.

It just means job security, better benefit, and a relatively small amount taken out of ur paycheck for dues.

The "bad" thing about it is probably job security for everybody, good and bad employees.

If you are into changing the world and cutting edge clinical practice, it's not probably the best place to be.

If you want a good paying, easy going job with good benefits, it's probably a good place to be

Thank you for this insight! It helps me a lot as far as what to expect. Oddly enough where I am now there's a surprising amount of resistance to change from areas outside of pharmacy so I feel like it's only up from here... especially with benefits it sounds like.

 

[radio frequency]

You guessed and yeah you're completely right. I think I just had sticker shock but it's not a fair comparison at all. I also get relocation benefits and payment for BCPS. I'm really excited about where I'm going. I loved the people there and the opportunities I have.

That place you were discussing has recently cut their benefits and I've heard staff aren't happy with the changes. Rumor has it people are working a lot more hours without extra pay than they used to, too.

 

[GoldfishPharmD]

That place you were discussing has recently cut their benefits and I've heard staff aren't happy with the changes. Rumor has it people are working a lot more hours without extra pay than they used to, too.

The one with the higher pay- $127k?

 

[radio frequency]

The one with the higher pay- $127k?

Yes.

 

[Farcus]

completed pgy1 at a top regional hospital 2014, and now almost 1 year of experience of a mostly clin position/with slightly mixed staffing may be 1 week/month and with just base pay i get approx 96+OT get over 100k? so I gotta supplement with a PRN (2-3 days/month) at my old institution i was trained at to hopefully get to 110k. The loans are just sad

Sad, i'm ****ing asking for a raise, worst thing is i'm literally one of two clinically competent pharmacist here =/ but its a community hospital, this was even with a damn raise cause they wanted to be fair since i did a PGY1

Anyone did a PGY2 want to share how much they're making? I'm seriously thinking about PGY2 after I pay off my loans, I realize it wouldn't be too much of difference as far as pay goes.

 

[GoldfishPharmD]

completed pgy1 at a top regional hospital 2014, and now almost 1 year of experience of a mostly clin position/with slightly mixed staffing may be 1 week/month and with just base pay i get approx 96+OT get over 100k? so I gotta supplement with a PRN (2-3 days/month) at my old institution i was trained at to hopefully get to 110k. The loans are just sad

Sad, i'm ****ing asking for a raise, worst thing is i'm literally one of two clinically competent pharmacist here =/ but its a community hospital, this was even with a damn raise cause they wanted to be fair since i did a PGY1

Anyone did a PGY2 want to share how much they're making? I'm seriously thinking about PGY2 after I pay off my loans, I realize it wouldn't be too much of difference as far as pay goes.

$115k offer after doing PGY2. Did you accept your first job offer? I honestly don't think you should do a PGY2 just to make more money.

 

[Farcus]

well i'm not doing pgy2 to make more money, i spoke couple residency trained pharmacist pgy1 and pgy2, the exponential lost in wages you'll never get back, 65-70k lost right now will compounded by .06-.07/year is unimaginable.

I think your offer is pretty solid given you're working for VA and 20 years you're gold.

 

[GoldfishPharmD]

well i'm not doing pgy2 to make more money, i spoke couple residency trained pharmacist pgy1 and pgy2, the exponential lost in wages you'll never get back, 65-70k lost right now will compounded by .06-.07/year is unimaginable.

I think your offer is pretty solid given you're working for VA and 20 years you're gold.

I'm not working for the VA.