CVS offering 75k full time to class of 2019?

[PharmaCVS]

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Heard this rumor that CVS will only be offering 75k a year to 42 hour a week employees as of 2019.

Opinions on this? Absolutely terrible - not nearly enough to pay back student loans and much less than most other health professions. Pharmacy needs to do something about this downward trend, it's getting out of control.

 

[Prepharm1214]

Only in California and remote Alaska locations

 

[mentos]

We all see this was coming, it's only a matter of time. These 6 figure salaries aren't sustainable with the oversupply of rphs.

 

[tlh908]

We all see this was coming, it's only a matter of time. These 6 figure salaries aren't sustainable with the oversupply of rphs.

Think about it, if 75k was really the new rate everyone would just do nursing or finance. The chains need to keep the rate high to compete against other professions. Otherwise we will all get MBAs and leave retail.

 

[PharmDminus]

Think about it, if 75k was really the new rate everyone would just do nursing or finance. The chains need to keep the rate high to compete against other professions. Otherwise we will all get MBAs and leave retail.

90K would be believable, but 75K no way. The turnover would be way too high. New grads would jump ship as soon as they had another job offer. CVS has to factor in turnover and training costs of employees.

 

[mentos]

Think about it, if 75k was really the new rate everyone would just do nursing or finance. The chains need to keep the rate high to compete against other professions. Otherwise we will all get MBAs and leave retail.

75k is still a lot more than what most nursing/finance grads start with. You think PharmDs would rather have 75k or no job?

MBAs are a dime a dozen, even more so than PharmDs and lawyers. Getting an MBA doesn't guarantee you a high paying job or even a raise. Many companies pay for their employees to get one so they're easy to get. There's literally no barrier of entry.

Why would retail pharmacies need to compete against other professions? There are thousands of unemployed PharmDs and many more to come.

 

[mentos]

90K would be believable, but 75K no way. The turnover would be way too high. New grads would jump ship as soon as they had another job offer. CVS has to factor in turnover and training costs of employees.

That already happens now so what's the difference if they pay a new grad 120k for a few months vs 75k? There is hardly any training at cvs, they throw in new grads who have never done QT before and make them PIC.

Look at all the complaints on this forum about cvs. If they had somewhere else to go they would, but there's no jobs in desirable areas so they're stuck.

 

[awval999]

Lol first post.

Troll.

 

[PharmDminus]

That already happens now so what's the difference if they pay a new grad 120k for a few months vs 75k? There is hardly any training at cvs, they throw in new grads who have never done QT before and make them PIC.

Look at all the complaints on this forum about cvs. If they had somewhere else to go they would, but there's no jobs in desirable areas so they're stuck.

By that reason why not pay them 50k. So long as it is more than a tech. This a troll post.

 

[awval999]

I mean it's such a joke because these troll posts are done by people who don't understand compensation or human resources.

We've discussed in the past "sticky wages" on why employers don't drop nominal salary on current employees. Instead they fire people or freeze wages and let inflation do its work.

There's also a reason why employers have salary bands and pay scales. So employees that do the same job are paid equitably. No company is going to have a 50-75% pay discrepancy between the same class of employee!

Now are pharmacists going to have a decade of inflation eating their wages? Yes.
Are 2018-2028 graduates all going to start at the same low $110ish salary? Yes.
Will $110k have much less buying power in 2028 then 2018? Yes.
Are WAGS, CVS and RAD going to freeze wages for the vast majority of RPhs for the foreseeable future? Yes.

You don't have to sensationalize the suckiness of our profession.

 

[Gombrich12]

Can the mods on this site please delete these obvious misinformation posts and maybe think about banning some of the non-pharmacists or non-pharmacy students who tend to take up way too much space?

 

[DrVader]

90K would be believable, but 75K no way. The turnover would be way too high. New grads would jump ship as soon as they had another job offer. CVS has to factor in turnover and training costs of employees.

But there aren't many other ships to jump to. The pharmacy field is dominated by a handful of companies. If you don't work for CVS, Walgreens, Walmart or Kroger, you don't work. With a MBA I can go work anywhere, with a large company or a small company. You don't have to spend 200k to get a MBA either. As I said before 75k isn't bad as long as pharmacy school tuition drops.

 

[MatCauthon]

They won't go down to 75k. But they will drop the offers down to 100-105k for new grads. They can definitely do that, and they can start to clean out their entire workforce that is making over 130k. Remember, new pharmacy graduates are desperate. Look at all the new pharmacy schools that haven't even graduated a class yet. If Amazon enters the field and tries to start a price-war, CVS will do anything and everything they need to do to survive. Plus they have to pay off that 69 billion offer to Aetna somehow.

 

[ranger99rx]

OP did you just create a new account to post this? We are going through withdrawal with your post! How about tapering the dose? Like starting out with 125K, then 100K, then 75K so we can all digest this painful dose a bit easier!

 

[Rxnupe]

Heard this rumor that CVS will only be offering 75k a year to 42 hour a week employees as of 2019.

Opinions on this? Absolutely terrible - not nearly enough to pay back student loans and much less than most other health professions. Pharmacy needs to do something about this downward trend, it's getting out of control.[/QUOTE]

YOU ARE A FLAT OUT LIAR AND THE MODS SHOULD BAN YOUR SORRY A$$ FOR SPREADING AN OBVIOUS LIE!!!!!

 

[Zynx]

YOU ARE A FLAT OUT LIAR AND THE MODS SHOULD BAN YOUR SORRY A$$ FOR SPREADING AN OBVIOUS LIE!!!!!

Holy crap, someone grab the haldol

 

[Lnsean]

this is silly...CVS isn't going to have some rphs making 75k and the rest making 120k for the same job and title...there will be lawsuits abound.

 

[hick2672]

You know it is coming! They have ruined the profession! Come on Amazon Pharmacy!


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