How much have you made so far

[confettiflyer]

Depends on the hospital.

When you're fully staffed like we are, there is zero OT and we're encouraged to flex.

When there's a lot of turnover there tends to be OT available.

Don't forget raging norovirus infections, old pharmacists getting knee replacement surgery, or people just getting pregnant and going on maternity/paternity leave.

I think new babies and old knees helped fund a new car for me last year coming out of residency in OT alone.

And God Bless the People's Republic of California where my OT rates are no less than triple-digits per hour.

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[pezdispenser]

For those of you who refer to working a lot of OT -- can I ask if you guys are working in a retail or hospital setting? The reason I'm curious is because in the past, I've heard retail pharmacists on here say that they're not really permitted to work much OT, so I was just wondering how common it was for a retail pharmacist to have the opportunity to increase their income via working OT.

Walgreens used to pay time and a half for OT, but changed to base rate + $10/hr a few years ago. So now there are usually more extra shifts available to pickup, unless your district is fully saturated.

Or, you can work per diem in other settings like hospital to broaden your experience, but the pay is usually lower and of course just base rate. I'm getting just $45/hr at my per diem hospital job

 

[Aznfarmerboi]

Low 200 ish.... I did very little OT this year....

When I first got out of Pharmacy school in 2009, my goal was to break 200k. I now do that with out trying. I wonder if I should go for 250k but the OT doesn't seem to be worth it anymore,.

 

[ancienbon]

Low 200 ish.... I did very little OT this year....

When I first got out of Pharmacy school in 2009, my goal was to break 200k. I now do that with out trying. I wonder if I should go for 250k but the OT doesn't seem to be worth it anymore,.

Congrats. What is your base..

 

[PAtoPharm]

Low 200 ish.... I did very little OT this year....

When I first got out of Pharmacy school in 2009, my goal was to break 200k. I now do that with out trying. I wonder if I should go for 250k but the OT doesn't seem to be worth it anymore,.

Can I ask what field of pharmacy you work in? Thanks....

 

[njac]

Can I ask what field of pharmacy you work in? Thanks....

Location is probably the most important question.

 

[RimzyA]

Low 200 ish.... I did very little OT this year....

When I first got out of Pharmacy school in 2009, my goal was to break 200k. I now do that with out trying. I wonder if I should go for 250k but the OT doesn't seem to be worth it anymore,.

Is this just including pay or does this also include investments? Etc

 

[ChalupaBatman86]

A little over 199k cash compensation from salary plus bonus. Not including investments or things like 401k match, stock, etc. It's all about the bonus, in a really good year I am around 250k. This year was just ok.

 

[HouTX]

if u don't mind me asking, what chain is giving that big of a bonus? I think I would try harder if I had a bigger bonus potential

 

[DesiRX]

I am pulling in 294 k for 2015. Mostly from investment. I am grateful and I am hoping for a good 2016 as well.

damn dude, care to share the secret? lol

 

[Sine Cura]

For chains field management has a better bonus structure than RXM and staff pharmacist.

 

[ChalupaBatman86]

I don't work for a chain, but at a chain the bonuses start getting good at the district supervisor or DM level. The pharmacy manager bonus is a joke. As a staff pharmacist or manager you make your money with OT, not bonus. Most non-government pharmacy management or executive jobs will have a target bonus that is somewhere between 15% and 100% of your salary and usually based on financial performance of your business unit.

 

[BMBiology]

Final tally for 2015 (wages): $170,800 ($163.8k @ main gig + like 5 weeks of vacation taken, $7k @ agency). Kept my OT to 32 hours (see previous post).

Side business I run grossed like $60k or something, around $30k profit, but see previous post for explanation of why I don't include it.

Do you have to pay social security tax for your business as well? Or is it capped at 119 k earning?

 

[njac]

Do you have to pay social security tax for your business as well? Or is it capped at 119 k earning?

I believe it's capped, I get all the social security I pay at my per diem job back in my tax return.

 

[BMBiology]

damn dude, care to share the secret? lol

There is no secret. You are not going to make that much by working your 9 to 5 job. You have to either invest or start your own business. I am not going to offer you investment advise because my guess is just as good as yours. However, I am going to say this:

- you need to increase your productivity. Some people think working crazy OT hours increases your productivity. It does not. You are just trading in your youth and health. In fact, by working so much, you are going to have less time and energy to do things that would increase your long term earning potential.

- I am not saying your family and friends' opinions are not important. They are. But, you must do what is your best interest and more importantly you need to be right. Being right is the only thing that matters in the long term.

- you need to take risk. That is only way for you to get out. Do it while you are still young. Do it while you still have the time and energy.

- don't take things for granted. Even if your job sucks, it still put food on the table. It still pays the bills. It is still better than the majority of jobs. Don't let the daily drag put you down. You are only at work for 8 hours a day. You still have the time each day to do something else.

- timing is everything. There will always be opportunities. The question is...are you going to capitalize on it? Position yourself. Save. Make good financial decisions.

 

[Momus]

Timing is stupid. It's time in the market. NOT timing. If you need to take some risk, go to Vegas. There is a difference between investing and speculating.

 

[BMBiology]

Timing is stupid. It's time in the market. NOT timing. If you need to take some risk, go to Vegas. There is a difference between investing and speculating.

This comes from the guy who puts more money into the market when it drops like crazy. How is THAT not timing?

If you had graduated today instead of like 2009 when the stock market was at the bottom, you would be a totally different position today. So don't tell me timing does not have something to do with it.

The point is everything goes up and down...not just the stock market. If you are in the position to take advantage of it then you would greatly benefit from it.

 

[Momus]

This comes from the guy who puts more money into the market when it drops like crazy. How is THAT not timing?

If you had graduated today instead of like 2009 when the stock market was at the bottom, you would be a totally different position today. So don't tell me timing does not have something to do with it.

The point is everything goes up and down...not just the stock market. If you are in the position to take advantage of it then you would greatly benefit from it.

That's left over money going into dips after investing $1750 every paycheck. My 60k/yr fixed expenses ($45.5k pay check+ $18.5k 401k) is set on auto every year. Not timing. I never sell... ever... until I am at retirement age. Again not timing. I am very frugal by nature, and stocks pull back always happen every year, I buy only on dips with left over money. If I graduated today, I'd still do the same sh1t. Timing does little to do with it. Timing is defined as the strategy of making buy or sell decisions of assets by attempting to predict future price movements. I didn't try to predict the future. It wasn't timing, it was dumb luck. Dumb luck getting an extra $ when I started investing is nice. Because I know I can't predict the future, I don't need to be right. I simply need to be disciplined and follow my investment plan until I am 65 to come out ahead.

Everything reverts to the mean, housing, employment, commodity, and stocks, don't trade in and trade out, deluding yourself thinking you know what the hell you are doing. You don't. No one knows what is going to happen the next 6 months, 2 years, or 5 years down the road. The only people who know the future are insiders as the information is not yet available to the public. For a mere mortal (nobody), at best, you are speculating. Hope it works for you the next 40 years.

 

[BMBiology]

When you buy on the dip, then that is not timing.

But when I buy a stock when it dropped, then that is timing? When I buy an asset when it dropped, then that is timing?

You buying on the dips is exactly the same strategy I am using when I buy a stock, a property when it crashed.

 

[Momus]

When you buy on the dip, then that is not timing.

But when I buy a stock when it dropped, then that is timing? When I buy an asset when it dropped, then that is timing?

You buying on the dips is exactly the same strategy I am using when I buy a stock, a property when it crashed.

You fail to recognize the majority of money I buy on random dips are very little compare to biweekly investment and 401k contributions. Sure, you can call that portion of $ timing when it represents my spare change left over money. There is no other way for me to buy stocks but buy on discount due to my frugal nature ($1k avg expenses/month and always bargain hunting what I need). And, remember I don't sell them ever. It's a one way in and never coming out. I don't attempt to profit from buying and thinking later "now, it's good time to sell it". I haven't a clue what's gonna happen next yr or 5 yr. They are index diversified funds 3000-5000 stocks. It's 30 yrs before I sell mine. It's an invesment, not a trade.

 

[BMBiology]

^ you are trying to split hair here.

 

[wagrxm2000]

I don't recommend putting more money into index funds all you are doing is cost averaging up at the peak of the market bubble. Why do the same thing that your 401k is doing? Ten years from now we may never see these levels again. The Nikkei is 50% lower then its peak still.

Stocks I'm looking at are nike on a slight lower dip, airlines, banks in the first half, starbux, Visa, and Google. I also will be buying calls on all of FANG and continuing to sell calls on Apple. I've been thinking about selling calls on oil too.

 

[Momus]

^ you are trying to split hair here.

You are getting a couple stocks attempting to buy and sell often, trying to make profit on every trade you do. Vs buying index and never selling them 30 years later. Definitely splitting hair.

@wagrxm2000 I don't deviate from my plan even if it involves a bear market in the near future. Embrace them, it's a duty for long term investors to lose money in bear markets. I don't know when it will happen, but it will happen. Ride them out. Again, I am an investor, not a trader.

 

[BMBiology]

You are getting a couple stocks attempting to buy and sell often, trying to make profit on every trade you do. Vs buying index and never selling them 30 years later. Definitely splitting.

If the only difference between us is buying index vs individual stock on the dip then go ahead and buy index. Regardless it is still market timing LOL

 

[Momus]

If the only difference between us is buying index vs individual stock on the dip then go ahead and buy index. Regardless it is still market timing LOL

You can call buying stocks automatically at 2 weeks interval no matter what happens to market, few dips with left over money and NEVER selling is market timing. I call it long term investment. Buy and hold forever. Don't be delusional what you are doing as short term trader. It's nice when your speculation is right for a few years until it doesn't. You will need a lot of luck for the next 30 years. Keep speculating away. Look for the next best stocks. You can win the loser's game!

 

[farmadiazepine]

2011: $80,000 in 5 months
2012: $180,000
2013: $199,999
2014: $210,000
2015: $50,000

It feels good!

I have a friend, he made this year, from April to November, just 8 months, $456,000 working in a retail pharmacy. Don't ask me how he did it. I give props to him. He was on track to make over half a million in 2015.

 

[pezdispenser]

I have a friend, he made this year, from April to November, just 8 months, $456,000 working in a retail pharmacy. Don't ask me how he did it. I give props to him. He was on track to make over half a million in 2015.

Alaska? It's gotta be Alaska.

 

[alprazolamborghini]

2011: $80,000 in 5 months
2012: $180,000
2013: $199,999
2014: $210,000
2015: $50,000

It feels good!

I have a friend, he made this year, from April to November, just 8 months, $456,000 working in a retail pharmacy. Don't ask me how he did it. I give props to him. He was on track to make over half a million in 2015.

plz elaborate if you are telling the truth

 

[Lnsean]

2011: $80,000 in 5 months
2012: $180,000
2013: $199,999
2014: $210,000
2015: $50,000

It feels good!

I have a friend, he made this year, from April to November, just 8 months, $456,000 working in a retail pharmacy. Don't ask me how he did it. I give props to him. He was on track to make over half a million in 2015.

Only 450k? That was my sign on bonus this year alone!

 

[Lnsean]

plz elaborate if you are telling the truth

you think people just go online and tell lies like that? come on.

 

[farmadiazepine]

It is from compounding. Insurance companies were paying compounds based on inflated AWPs and PER INGREDIENT in the compound. Why do you think you see things like flucticasone/levocetirizine/gabapentin/prilocaine/diclofenac/ketamine in a base compounded for pain? The cost of the compound is anywhere from $300 to $1000 for the pharmacy, but you have private insurance plans like Express Scripts (and notoriously Tricare because of Express Scripts) pay out $17,500 per 240 grams of such compound. You read that right. $17,500 profit. You only have to fill so few scripts with reimbursement like that, but, if you are making money like that, pharmacists try to fill as many as they can.

They exploited the system.

You can research this further. There are still a lot of private plans paying thousands of dollars on top of cost for compounded medications or pre-packaged "kits" with special NDC numbers. You just need to know the special NDC numbers, or need to know what is hot and what is not. It's all a game, unfortunately. The real value of the pharmacist goes down the drain. I think it's a sick joke because I know these medications don't work. No, I don't participate in it, but I know about it.

 

[Lnsean]

It is from compounding. Insurance companies were paying compounds based on inflated AWPs and PER INGREDIENT in the compound. Why do you think you see things like flucticasone/levocetirizine/gabapentin/prilocaine/diclofenac/ketamine in a base compounded for pain? The cost of the compound is anywhere from $300 to $1000 for the pharmacy, but you have private insurance plans like Express Scripts (and notoriously Tricare because of Express Scripts) pay out $17,500 per 240 grams of such compound. You read that right. $17,500 profit. You only have to fill so few scripts with reimbursement like that, but, if you are making money like that, pharmacists try to fill as many as they can.

They exploited the system.

You can research this further. There are still a lot of private plans paying thousands of dollars on top of cost for compounded medications or pre-packaged "kits" with special NDC numbers. You just need to know the special NDC numbers, or need to know what is hot and what is not. It's all a game, unfortunately. The real value of the pharmacist goes down the drain. I think it's a sick joke because I know these medications don't work. No, I don't participate in it, but I know about it.

So he owns an independent pharmacy. That's different. You made it sound like he worked for a retail pharmacy. Carry on.

 

[confettiflyer]

Yeah I was gonna say, if he's structured as a pass thru that $450k is stupid and he should probably revoke his s election and income split between wage/dividend...or at least retain some earnings and keep it off his personal return.

 

[ChalupaBatman86]

It is from compounding. Insurance companies were paying compounds based on inflated AWPs and PER INGREDIENT in the compound. Why do you think you see things like flucticasone/levocetirizine/gabapentin/prilocaine/diclofenac/ketamine in a base compounded for pain? The cost of the compound is anywhere from $300 to $1000 for the pharmacy, but you have private insurance plans like Express Scripts (and notoriously Tricare because of Express Scripts) pay out $17,500 per 240 grams of such compound. You read that right. $17,500 profit. You only have to fill so few scripts with reimbursement like that, but, if you are making money like that, pharmacists try to fill as many as they can.

They exploited the system.

You can research this further. There are still a lot of private plans paying thousands of dollars on top of cost for compounded medications or pre-packaged "kits" with special NDC numbers. You just need to know the special NDC numbers, or need to know what is hot and what is not. It's all a game, unfortunately. The real value of the pharmacist goes down the drain. I think it's a sick joke because I know these medications don't work. No, I don't participate in it, but I know about it.

The days of doing this are all over now. Not sure what small private companies are still paying since it pretty much all goes through a PBM. Maybe workers comp.

 

[Lnsean]

The days of doing this are all over now. Not sure what small private companies are still paying since it pretty much all goes through a PBM. Maybe workers comp.

I call bullsht on it too...a little bit of he said/she said

 

[owlegrad]

154,541.84