WHY do clinical pharmacists make less than retail pharmacists?

[Rebel78]

Im looking into pharmacy careers after i graduate and i noticed that clinical pharmacists make substantially less money than a retail pharmacist even though clinical pharmacists have to go through residencies to get that job. Sounds very unfair to me. I'm wondering why that is.

Just the way it is. If it's $$$ your strictly looking for, retail is the way to go. I did for several years, and I'm glad I did, especially during the shortage with B-rate pay to be had.

Now I'm staff at a hospital. Pay is much less, but I like the job. At the hospital I'm at, experience has more to do with pay than whether it's a clinical position.

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[Doctor M]

Hospital pharmacists make less money because the market demands less money. It's worthwhile for them because either they want to have a better work environment (me), despise the corporations that run retail pharmacy in the US (me), or think they have a more prestigious position (hahahaha...though a lot of people do hospital or residency for prestige...hence they can somehow get away with paying them $35k for their first year of training...wave the prospect of getting a few letters after their name coupled with the thought that their peers would be "impressed" and they line up for it...but it's a damned racket, I tells ya...)

If/when I move to Russia (or Canada, whatever), I will consider retail pharmacy because you are treated as less of a ***** in those countries. And the insurances are more streamlined. And people are less pissed off in general because they have rational price controls. It must be like heaven...

me

 

[CYP3A4]

Great answer. Even though staff pharmacists do not do all the "fancy" clinical stuff, the reality is that they generate more income due to the fact that the act of dispensing brings in revenue. Now, that is not to say that a clinical pharmacist isn't valuable, but i feel that the hybrid staffing/clinical pharmacist would make the biggest financial impact in an institution since both duties can be accomplished

Honestly I think the staff/clinical pharmacist is the future of hospital pharmacy everywhere, especially once CPOE becomes the norm. I am a new grad working in a 550 bed Level II trauma center. My official title is "Clinical Pharmacist" but all 20 of the pharmacists at the hospital are trained to do everything from typical staffing crap like cart checks, IV room, and order entry to some of the other more clinical stuff like nutrition support, kinetics, ICU rounding, chemotherapy, etc. Of course, this is all pharmacist dependent. The older ones don't want to be cross trained but within the next year I will be doing everything. I don't think hospitals want to waste money on a bunch of pharmacists that aren't going to be trained to perform the regular operational duties needed.

 

[jackbauer242]

The clinical pharmacists working for the VA healthcare system make pretty good money, and their rates increase with time in service.

are you in phoenix? what kind of pharmacy do you practice?

 

[jackbauer242]

I've seen Kaye/Bassman offers in CA for $75+/hr w/ bonuses and loan repayment (up to like ~40K) but they do sound a little too good to be true.

http://www.careerbuilder.com/JobSee...&APath=2.21.0.0.0&job_did=J8G54Z66SW8DGW0GP7G

Regardless, even that job says $60/hr starting and goes up w/ experience. Clinical pharmacists definitely don't have to make less than retail

anyone hear news about kaye bassman.. good or bad

 

[pharmd4321]

why is this entire thread written in pirate talk.

 

[owlegrad]

why be this entire thread written in pirate talk.

Arrrr ye tell me why

 

[Jibby321]

why be this entire thread written in pirate talk.

Ayeeeeeer matey it's cuz me noticed the OP was typin in me's and not I's. Ya hear?!

 

[rxlea]

Ridonk

 

[MariaSoprano]

This might be an old thread, but might still help someone out there. Currently there is an oversupply of Pharmacists and will deter anyone wanting to get in this field if money is one of their concerns. Raises have been shallow and bonuses have been chopped or eliminated for many.

I'm a nuclear pharmacist... And things don't look too good for nuclear in the future. Our diagnostic tests are being replaced by other methods and margins have been going down the tubes for years now. We've seen layoffs, which were unheard of in the past for pharmacists. The shifts are very unhealthy, as we work night shifts and move to day shifts the next day... We're on call for emergency doses... etc.. When you're left with few pharmacists doing this, it will take a toll and you can kiss your social life good-bye. We're all currently seeking new jobs at our lab. Sorry to say... The world of pharmacy has never been uglier.

We're also finding out that finding employment is not as easy as it used to be. People have simply been clinging onto their jobs for dear life. Some of us have been searching for new opportunities for several months, placed several dozens of applications and received very few call backs for an interview. It's brutal out there for pharmacists today. Stay away if you can... Far away.

 

[sosoo]

they used to give u a $20,000 SUV as a sign-on bonus working for CVS. and interns were granted a $5,000 to accept the job offer before graduation! demands for retail was high back then and so the pay is higher...... time has change though and eventually retail new grads will make same pay as clinical pharmacists.

 

[gwarm01]

Retail demand and the resulting high salary was the force that drove all pharmacist salaries through the roof. Retail salaries dropping is only going to hurt those of us in hospital pharmacy. They have no incentive to pay us more, despite how valuable your school may have said you are.

 

[Digsbe]

It's all about the payment model. Retail pharmacies exist to make a profit, you dispense and give immunizations that make money for the company. Without clinical pharmacists being able to properly bill under insurance plans your labor is a cost the hospital usually pays, and they aren't going to want to pay you top dollar. People want the job due to the nature of the work and utilizing more of your knowledge and expertise as a pharmacist, there is a reason why residencies are extremely hard to get with an overabundance of applicants. It seems in my area retail pharms make 115-125k+ on average, hospital/clinical about 100-110k+ starting out. Most would say you get better benefits and vacation working for a hospital though. It's a shame though that clinical pharmacy doesn't pay more considering the added required training. Clinical pharmacy also seems to be a relatively knew concept. Most patients aren't going to know what one is, and many others in healthcare might not know that clinical pharmacists exist or that pharmacists can do residencies as well. On hospital rotations people have asked me what I want to do and I mention the idea of residency/clinical pharmacy and it's a revelation to them that pharmacists have that career option, which is also usually followed by the "I had no idea pharmacy required a doctorate either." We do a good job of marketing to ourselves, but not so good as far as marketing to the public or other members of the healthcare workforce.