Walgreens: Pharmacist salary restructuring?

[TonyRx]

Hey All,

Just wandering if anyone else has heard about the supposed "salary restructuring" Walgreens will be rolling out as of next year. I was talking with my staff pharmacist (here in South Florida) today, and he told me that the pharmacy supervisor told him about the restructuring at their last district meeting.

From what I understand, new grads (starting next year) will be offered no more than $48/hr (not sure if full-time is guaranteed either)...and pay raises will be giving in 2-3 year increments moving forward. Pay raises will likely be tied into performance reviews/evaluations, so it will probably take 5-10 years for that new grad to make his or her way up to the $58-60/hr pay that our current pharmacists are making.

I've been with the company since 2005 and this is the first I've heard about anything like this; although I'm not surprised at all given the job market, economy, pharmacist surplus, etc, etc. Although $48/hr isn't chump change, it's still a $10 dollar decrease and basically ~$20K a year. It's making me feel more and more uneasy about Walgreens and just retail pharmacy in general. Who's to say they won't further drop the salary again in the near future?

Just wanted to share this with you all and gather any more info that may be floating around out there. Thanks.

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[Aznfarmerboi]

Hey All,

Just wandering if anyone else has heard about the supposed "salary restructuring" Walgreens will be rolling out as of next year. I was talking with my staff pharmacist (here in South Florida) today, and he told me that the pharmacy supervisor told him about the restructuring at their last district meeting.

From what I understand, new grads (starting next year) will be offered no more than $48/hr (not sure if full-time is guaranteed either)...and pay raises will be giving in 2-3 year increments moving forward. Pay raises will likely be tied into performance reviews/evaluations, so it will probably take 5-10 years for that new grad to make his or her way up to the $58-60/hr pay that our current pharmacists are making.

I've been with the company since 2005 and this is the first I've heard about anything like this; although I'm not surprised at all given the job market, economy, pharmacist surplus, etc, etc. Although $48/hr isn't chump change, it's still a $10 dollar decrease and basically ~$20K a year. It's making me feel more and more uneasy about Walgreens and just retail pharmacy in general. Who's to say they won't further drop the salary again in the near future?

Just wanted to share this with you all and gather any more info that may be floating around out there. Thanks.

Starting pharmacists are worth 50 to 55 dollars imo. Experienced pharmacists , pharmacists in charge, and pharmacists in high volume stores should be making 58-60.

While 48 dollasr is little, I bet the market will support it. Personally, I would not do it. I will only prositute myself to retail for over 60. I have class.

 

[BrightLight]

Hooray! More corporate prostitutes for those who got their degrees online.

 

[psychoandy]

Starting pharmacists are worth 50 to 55 dollars imo. Experienced pharmacists , pharmacists in charge, and pharmacists in high volume stores should be making 58-60.

While 48 dollasr is little, I bet the market will support it. Personally, I would not do it. I will only prositute myself to retail for over 60. I have class.

Keep in mind this is Florida. No state income tax, many pharmacy schools, much lower cost of living with the exception of maybe Miami...and only really if you're living on South Beach. Then again, this is pharmacy, where you can complain that you only make 100k and have a somewhat legitimate complaint.

That being said, assuming this is true...the market is so crappy and desperate that new grads have no recourse other than to apply to CVS/Target/etc. Great move for Wags management, bad move for new grad pay. At least you don't have to do residency...yet.

 

[owlegrad]

Keep in mind this is Florida. No state income tax, many pharmacy schools, much lower cost of living with the exception of maybe Miami...and only really if you're living on South Beach. Then again, this is pharmacy, where you can complain that you only make 100k and have a somewhat legitimate complaint.

That being said, assuming this is true...the market is so crappy and desperate that new grads have no recourse other than to apply to CVS/Target/etc. Great move for Wags management, bad move for new grad pay. At least you don't have to do residency...yet.

Compared to where exactly? NYC?

 

[awval999]

This is what the car companies do. Legacy employees make twice what the new employees make. We all knew this was coming from the retail end. They will make the new salaries equivalent to hospital salaries. Nevertheless, the $48/hour will still be salaried at $100K even. The corps know how that "six-figure" salary still sounds oh so good.

In the end all that matters is supply/demand. And the new schools have destroyed it. And it will get worse. And we know who to blame. But that's all we can do.

 

[PharmaTope]

it is only a matter of time people

"perhaps would shouldnt fear a surplus" YA RIGHT

you got pharmacists getting fired for getting a coffee, having a free lollipop etc. this is pathetic.

the salaries will drop further than this though. this is just a "taste". expect salaries in next two years to fall further. retail is notorious for paying pharmcists differently but CVS would pay NEW pharmacists more than experienced pharmacists.

now we see the shift. i could not ever imagine doing retail pharmacy for 50k a year. i couldnt imagine killing myself doing 600 scripts in a day for 50k a year. i would much rather do something else, go work in a research lab even as a research assistant or something. the pharmacy career is not worth it at that point. in fact, nursing has far better options than pharmacy. nurses have a lot more areas they can branch into. unfortunately, those high pharmacist salaries we saw are coming down because it was a bubble assisted by the mandatory PharmD causing a year of no grads.

i dont know how someone could LOVE retail pharmacy enough to want to do this daily. retail pharm is the backbone of pharmacy but it is rapidly changing and incorporating more technology. i question the number of pharmacists that will be needed.

 

[JamesL1585]

Does Walgreens have a union who negotiates salaries for them? I thought that was the case... seems kind of illegal, or am I just being naive?

 

[PumpkinSmasher]

Does Walgreens have a union who negotiates salaries for them? I thought that was the case... seems kind of illegal, or am I just being naive?

No union. How is what they are doing illegal?

 

[JamesL1585]

No union. How is what they are doing illegal?

Thats why I asked the question, not sure why you're replying with another question back.

Anyways. Well if this turns out to be true, I guess thats another loss for Pharmacist again, mostly because the lack of leadership in the profession. The reason I say this is because that big of a pay cut is pretty significant. Especially considering cost of living is rising (in most areas), and tuition is constantly rising as well.

 

[KARM12]

Ummm...newsflash...hospitals pay pharmacists different salaries based on experience. A new grad will almost always start lower in hospital.

I do more work and get paid less than some pharmacists who have been at the hospital for many years. Plus they get more vacation time. But I know that will be me in a few more yrs if I stick with it. I've already had ~10% increase in pay being in my position for only 1 year.

I know many new grads with 200k in loans will gladly take $48/hr over unemployment. Depending on you part of the country, many hospital job start at less than this.

 

[PharmaTope]

Thats why I asked the question, not sure why you're replying with another question back.

Anyways. Well if this turns out to be true, I guess thats another loss for Pharmacist again, mostly because the lack of leadership in the profession. The reason I say this is because that big of a pay cut is pretty significant. Especially considering cost of living is rising (in most areas), and tuition is constantly rising as well.

inflation get ready for it. it is going to be a VERY HARD TIME in the future. the other thing you will notice is a lot of pharmacists are going to be reluctant to help each other out even more so now. you are direct competition. it will be like school ALL OVER AGAIN!

 

[iFarm]

inflation get ready for it. it is going to be a VERY HARD TIME in the future. the other thing you will notice is a lot of pharmacists are going to be reluctant to help each other out even more so now. you are direct competition. it will be like school ALL OVER AGAIN!

Inflation actually hurts those with $$ more than those with lots of debt. All of the money you have accumulated becomes worth less in terms of goods/services. But it's the opposite for anyone with debt.

Imagine if the dollar crashed and 1 apple cost $100k. Everyone out there with 100k of student loans would basically owe 1 apple.

 

[gotdrugs]

Thats why I asked the question, not sure why you're replying with another question back.

Anyways. Well if this turns out to be true, I guess thats another loss for Pharmacist again, mostly because the lack of leadership in the profession. The reason I say this is because that big of a pay cut is pretty significant. Especially considering cost of living is rising (in most areas), and tuition is constantly rising as well.

Keep in mind - it's not a pay cut when it's new pharmacists they are hiring at that rate.

And as a previous poster mention that's been the hospital model for eons.

Between that and basic economic laws, I'm surprised this hasn't happened sooner.

My first job in 1998 I made less than half of what is being quoted (i.e. 23/hour), pharmacists' salaries are still pretty darn good (at the moment). Even at "only" 48/hour, that has still outpaced inflation by a great deal over the last 15 years.

 

[Pillz]

Hey All,

Just wandering if anyone else has heard about the supposed "salary restructuring" Walgreens will be rolling out as of next year. I was talking with my staff pharmacist (here in South Florida) today, and he told me that the pharmacy supervisor told him about the restructuring at their last district meeting.

From what I understand, new grads (starting next year) will be offered no more than $48/hr (not sure if full-time is guaranteed either)...and pay raises will be giving in 2-3 year increments moving forward. Pay raises will likely be tied into performance reviews/evaluations, so it will probably take 5-10 years for that new grad to make his or her way up to the $58-60/hr pay that our current pharmacists are making.

I've been with the company since 2005 and this is the first I've heard about anything like this; although I'm not surprised at all given the job market, economy, pharmacist surplus, etc, etc. Although $48/hr isn't chump change, it's still a $10 dollar decrease and basically ~$20K a year. It's making me feel more and more uneasy about Walgreens and just retail pharmacy in general. Who's to say they won't further drop the salary again in the near future?

Just wanted to share this with you all and gather any more info that may be floating around out there. Thanks.

I am kinda confused about current pharmacist. Will there salaries be reduced as well according to the pharmacist you spoke to?

 

[Aznfarmerboi]

I am kinda confused about current pharmacist. Will there salaries be reduced as well according to the pharmacist you spoke to?

I doubt current salaries for pharmacists will be reduced. Business likes stability. If they were to introduce a plan to reduce salary, they do not know who will leave. It is better to get more savings in salary through attrition.

 

[fauxden]

I doubt current salaries for pharmacists will be reduced. Business likes stability. If they were to introduce a plan to reduce salary, they do not know who will leave. It is better to get more savings in salary through attrition.

Businesses like stability, but I'm sure saving 20k/pharmacist is fairly enticing. With 14k+ new pharmacists every year I don't think they have too much to worry about as far as people leaving. They can be replaced easily.

 

[Aznfarmerboi]

Businesses like stability, but I'm sure saving 20k/pharmacist is fairly enticing. With 14k+ new pharmacists every year I don't think they have too much to worry about as far as people leaving. They can be replaced easily.[/QU

20k is enticing but is it worth it? Wags have to worry about the customer base and the exact amount of pharmacists to hire, train, and staff the stores.

What if Wags over hire? under hire? What if 10 percent of the company leaves? 20 percent? 30? 50? How will it affect the morale of the teams in the store?

From a managers point of perspective, it is better to save by limiting raises, decreasing benefits (easily millions of instant savings) and let attrition do the work.

 

[naus]

Most pediatricians make around $40-50 an hour, though they work more hours. And they do residency.

 

[Trent Steele]

you knew this was coming... and the other chains are sure to follow suit. In all honesty, it a massive salary at >$55, and making in the upper 40s is more than enough.... surprised they havent rolled this out already... until all the chains meet and agree on a starting salary for entry level rphs this will be on the back burner but im sure it will happen very very soon

 

[Cloud 9]

Most pediatricians make around $40-50 an hour, though they work more hours. And they do residency.

HAHA, nice joke.
In case you were actually serious though, the lowest 10% make that much, the median make $74.70 hourly...

 

[PharmaTope]

Inflation actually hurts those with $$ more than those with lots of debt. All of the money you have accumulated becomes worth less in terms of goods/services. But it's the opposite for anyone with debt.

Imagine if the dollar crashed and 1 apple cost $100k. Everyone out there with 100k of student loans would basically owe 1 apple.

oh i know the only issue is pharmacy salaries will not keep up with inflation though. to top that off, the school costs will jump up more so than now. so there is no way to pay that off

 

[PharmaTope]

Most pediatricians make around $40-50 an hour, though they work more hours. And they do residency.

umm NO.

in fact nursing supervisors make that. pediatricians i know pull in 200k a year.

 

[MountainPharmD]

I am kinda confused about current pharmacist. Will there salaries be reduced as well according to the pharmacist you spoke to?

Sorry peeps but we have been talking about this very thing for several years on here. This is no surprise at all.

Current pharmacists will not have their salaries dropped as in today I make make $62 and tomorrow I am lowered to $52. I do believe what we make today is the top and it will be a long time if ever before we seen any type of substantial raises.

Another way to lower everyone's salary is to start new grads out lower and then gradually weed out the higher paid experienced pharmacists. It's already happening. If you are one of the high paid experienced pharmacists now is the time to start watching your back. One missed metric, one bs complaint, one anything and you are fired and replaced with a new grad at $40k a year less.

Again no surprises here. My company restructured their pay scale recently. They made it nearly impossible to achieve a bonus and changed raise reviews to once a year and made them performance based.

 

[MountainPharmD]

oh i know the only issue is pharmacy salaries will not keep up with inflation though. to top that off, the school costs will jump up more so than now. so there is no way to pay that off

With every boom there is a bust. Right now we are in a bust after one of the biggest if not the biggest pharmacy boom in history. Guess what? This is the start of the next boom. Pharmacy will no longer be the sure thing everyone has a 100k job. Applicants will drop, diploma mill schools will close and pharmacists will leave the profession. Thus another shortage or at least the end of a massive surplus. The profession will stabilize and all will be well again. The only question is how long will it take and will there be a profession left.

 

[TonyRx]

I am kinda confused about current pharmacist. Will there salaries be reduced as well according to the pharmacist you spoke to?

He didn't mention anything about the "current" pharmacists, so I'm assuming they will essentially be grandfathered in. It seems like this new salary structure will solely be for new hires starting sometime next year. The topic of performance reviews and raises came up while at work, which is when he mentioned all of this too me. I know that WAGS is making a lot of major changes; i.e. Project One, and this latest news isn't much of a shocker to me. But I just wanted to see if any other fellow WAG employees have heard anything too.

The idea of getting a Master's degree on the side (MBA, Informatics, Regulatory Pharmacy, etc, etc) is looking more appealing to me now. Not sure if my PharmD is gonna cut it. Just glad I'm not taking out MASSIVE amounts of loans like so many of my fellow classmates are doing. Half the people I know in Pharm school are going to be easily 200-250K in the hole.

 

[gwarm01]

Great. Another bit of information that makes me worry about the viability of pharmacy as a long-term career choice. This coupled with the difficulties new grads at my school are having finding employment is really starting to freak me out. Can we just hear some good news for once?

 

[pezdispenser]

Great. Another bit of information that makes me worry about the viability of pharmacy as a long-term career choice. This coupled with the difficulties new grads at my school are having finding employment is really starting to freak me out. Can we just hear some good news for once?

Maybe it's time to cut your losses... just sayin'...

 

[RobSter33]

He didn't mention anything about the "current" pharmacists, so I'm assuming they will essentially be grandfathered in. It seems like this new salary structure will solely be for new hires starting sometime next year.

We all knew this was coming. First it starts with the new hires then the current pharmacists. The shortage went burst just in a few years! An older pharmacist told me in the 1990s, pharmacy schools were closing left and right because there was a surplus of pharmacists. I would not surprise me one bit if the same thing happen in 10 years.

 

[Ackj]

20k is enticing but is it worth it? Wags have to worry about the customer base and the exact amount of pharmacists to hire, train, and staff the stores.

What if Wags over hire? under hire? What if 10 percent of the company leaves? 20 percent? 30? 50? How will it affect the morale of the teams in the store?

From a managers point of perspective, it is better to save by limiting raises, decreasing benefits (easily millions of instant savings) and let attrition do the work.

Absolutely agree. Better to spend a bit more and keep your stores running smoothly than bring in all fresh help. A store (or even district?) full of green pharmacists doesn't sound like one that's breaking sales records.

A pharmacist who had been working at my store for probably 20-30 years left, and so did a lot of business along with him. All the patients knew him, liked him, trusted him, and he was a big reason for people to come to our store. Without him, the store didnt't have that customer loyalty anymore, since they were loyal to him rather than the store itself. Definitely a risky move to try and cut salaries and lose a large part of your staff.

With every boom there is a bust. Right now we are in a bust after one of the biggest if not the biggest pharmacy boom in history. Guess what? This is the start of the next boom. Pharmacy will no longer be the sure thing everyone has a 100k job. Applicants will drop, diploma mill schools will close and pharmacists will leave the profession. Thus another shortage or at least the end of a massive surplus. The profession will stabilize and all will be well again. The only question is how long will it take and will there be a profession left.

For being one of the most notorious doom and gloomers, in the face of possibly the worst news we have read yet, you come out with this incredibly optimistic post, probably one of the most positive posts I've seen about the market on this entire board. I am impressed.

 

[R2pharmD2]

We all knew this was coming. First it starts with the new hires then the current pharmacists. The shortage went burst just in a few years! An older pharmacist told me in the 1990s, pharmacy schools were closing left and right because there was a surplus of pharmacists. I would not surprise me one bit if the same thing happen in 10 years.

 

[confettiflyer]

sooooo.....

1) Economy takes a dump, script counts drop
2) # of practicing pharmacists explodes
3) Walgreen's lowers starting salaries
4) People are surprised

....which of these does not belong?

 

[StevePerry]

sooooo.....

1) Economy takes a dump, script counts drop
2) # of practicing pharmacists explodes
3) Walgreen's lowers starting salaries
4) People are surprised

....which of these does not belong?

And... It Was Written...

 

[Hope1974]

With every boom there is a bust. Right now we are in a bust after one of the biggest if not the biggest pharmacy boom in history. Guess what? This is the start of the next boom. Pharmacy will no longer be the sure thing everyone has a 100k job. Applicants will drop, diploma mill schools will close and pharmacists will leave the profession. Thus another shortage or at least the end of a massive surplus. The profession will stabilize and all will be well again. The only question is how long will it take and will there be a profession left.

With 150k or more in loans you can't afford to leave the profession and take on more debt by studying say....medicine, nursing or physical therapy. Nor can you afford to take any other job. Because most jobs pay less than what a pharmacists makes (Pharmacists make more than 90% of the population). If you take on any other job you'll be sure to be paying that loan for a very, very long time. Moreover, most higher paying professional jobs require some sort of certification or education.

 

[BenLysta]

And... It Was Written...

Sad but true and yet, some people are still in denial.

 

[endurorider]

sooooo.....

1) Economy takes a dump, script counts drop
2) # of practicing pharmacists explodes
3) Walgreen's lowers starting salaries
4) People are surprised

....which of these does not belong?

I don't think it has to do with script counts down, more like they have to keep showing increasing profits to their shareholders. They are cutting costs, first was implementation of power, then cutting hours for techs and pharmacists, only a matter of time before salaries took a hit.

I mean god forbid they increase the prices on their drugs or fight with the insurance companies/pbm's to increase reimbursement.

 

[BenLysta]

I don't think script count has decreased. I think it has been increasing. Lets face it. Pharmacist salary went up because the supply did not meet the demand. Now that supply exceeded demand, salary is going down.

 

[Unchained]

I don't think it has to do with script counts down, more like they have to keep showing increasing profits to their shareholders. They are cutting costs, first was implementation of power, then cutting hours for techs and pharmacists, only a matter of time before salaries took a hit.

I mean god forbid they increase the prices on their drugs or fight with the insurance companies/pbm's to increase reimbursement.

Walgreens among all the chains have fought extensively for increased reimbursement. They have been rejecting state Medicaid contracts for years. They recently rejected an express script contract that could potentially cost them 5 billion in sales per year! This was before Express made a bid for Medco.

 

[Hope1974]

Yup. Walgreens just lost the contract with Express Scripts. And, they no longer accept Molina insurance, also a kind of medicaid insurance.

 

[BrightLight]

Yup. Walgreens just lost the contract with Express Scripts. And, they no longer accept Molina insurance, also a kind of medicaid insurance.

Not to mentioned Walgreens is being sued by Express Scripts for "disparaging" the latter. Law suit = money loss. Money loss has to be recovered from somewhere, and I know for sure it is not going to be from CEOs' bonuses or big shareholders' pockets.

 

[StevePerry]

Walgreens among all the chains have fought extensively for increased reimbursement. They have been rejecting state Medicaid contracts for years. They recently rejected an express script contract that could potentially cost them 5 billion in sales per year! This was before Express made a bid for Medco.

You know, I am probably one of the biggest Walgreens haters out there, but I have to hand it to them for sticking it back to the PBM ----suckers and their bull---- contracts. Without collusion if the other chains would just hold the line with Wags...

 

[naus]

HAHA, nice joke.
In case you were actually serious though, the lowest 10% make that much, the median make $74.70 hourly...

That's adjusted for a 40 hr work week. Very few full time pediatricians work under 50 hrs a week. Doctors except for EM and trauma aren't paid hourly.

pediatricians i know pull in 200k a year.

That's total bull or the ones you know work exclusively in wealthy suburbs with every patient on private insurance.

 

[naus]

How will Obama's proposed Medicare cuts to pharmaceutical reimbursements ($135 billion over 10 years) affect salary?

http://www.kaiserhealthnews.org/Sto...an-To-Cut-Health-Programs-By-320-Billion.aspx

The biggest cut to Medicare requires pharmaceutical companies to lower their rates. The proposal would save Medicare an estimated $135 billion over 10 years starting in 2013. The change would allow the federal government to receive the same brand name and generic rebates for low-income Medicare patients as is provided to Medicaid beneficiaries.​

 

[PharmaTope]

That's adjusted for a 40 hr work week. Very few full time pediatricians work under 50 hrs a week. Doctors except for EM and trauma aren't paid hourly.


That's total bull or the ones you know work exclusively in wealthy suburbs with every patient on private insurance.

not total bull. also go ask them how flexible their schedule is. see patients when they want, 10am - whenever etc. go work urgent care pull 200k for 3-4 12 hour shifts a week. sounds decent to me. how many fulltime pediatricians do you know? how much do you know about the practice of medicine and running a business? you dont have to take all insurnace that is out there either

 

[ld9]

No union. How is what they are doing illegal?

Walgreens does have a union. at least it does in illinois.

 

[Ghibli]

Walgreens does have a union. at least it does in illinois.

It depends on the area. The employees of a particular district will have to vote to agree to have a union represent them. In most areas of California, Walgreens does not have a union.

 

[Apteka]

It depends on the area. The employees of a particular district will have to vote to agree to have a union represent them. In most areas of California, Walgreens does not have a union.

here in SF they do. wow. makes me want to stay in SF, even though the cost of living is WAAAAAY high (rental for 2 bdr= $2100 to start), making $60/hr i feel like the 'working poor'....

 

[lorain]

Walgreens does have a union. at least it does in illinois.

unions will DO nothing...and i tend to be pro labor

if union rph go on strike, they'll find others and pay them a bit more to cover the shifts (and if i recall this has happened b4)

considering how many rph are graduating, the saturation, the bad economy, the corporations hold all the cards at the moment

unions are not the answer...the answer is for rph to unite and lobby the necessary organizations to increase standards of diploma mills, increase scope of practice, etc

 

[BrightLight]

unions will DO nothing...and i tend to be pro labor

if union rph go on strike, they'll find others and pay them a bit more to cover the shifts (and if i recall this has happened b4)

considering how many rph are graduating, the saturation, the bad economy, the corporations hold all the cards at the moment

unions are not the answer...the answer is for rph to unite and lobby the necessary organizations to increase standards of diploma mills, increase scope of practice, etc

The answer is there is no answer.
--Chuck Palahniuk

 

[iFarm]

We must never acquiesce, for it is together... together that we prevail!!