How much of a pay cut would you take to leave CVS?

[josh6718]

Current situation is PIC of a smaller CVS store (~1400 prescriptions/week) in a decent location with a base of 40 hrs/week.

I recently was offered a position outside of CVS (non-retail) for 30 hrs/week that would pay 37% less per year than my current role (with benefits into account). The catch is the position "unofficially" will eventually be 40 hrs/week, which then would turn out to only be about a 16% yearly pay decrease.

With all the cuts CVS is making (in hours, budgets, etc.) I am leaning towards taking the offer to get out of CVS while I can, though any advice would be appreciated.

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[PharmacistFl12]

No. IF you still have student loans (like me), no way you should leave retail unless they officially cut my hours or decrease my salary. I would only consider leaving retail after paying off student loans and paying off my first house. No reason to take massive pay cut if you're physically healthy and young enough to endure the grind.

 

[PharmacistFl12]

I would milk every single dollar while you still can because you will NOT get paid higher anywhere else. Hold on to your retail job like there's no tomorrow and hope for the best. That's my approach working for a large retail chain.

 

[dblock05]

If you do not get the 40/hrs week at your new job, you are taking a massive pay cut. Thats a big risk.

 

[imcallingcorp]

I would milk every single dollar while you still can because you will NOT get paid higher anywhere else. Hold on to your retail job like there's no tomorrow and hope for the best. That's my approach working for a large retail chain.

I agree milk it till its gone unless the other job can provide you with significantly longer job safety, if such still exists in pharmacy.

 

[owlegrad]

Take the other job. I would love a full benefits, 30 hour per week job. You will still make a bunch of money and actually have time to enjoy it. There is basically no chance you will look back on it and think "Man I really wish I had stayed with CVS". You don't get chances to break out of retail everyday. Take it!

 

[beautifulrobot]

As long as you don't lose any sleep over the pay cut / you can still cover your expenses/debts comfortably, I would do it. Job satisfaction is worth a lot. It also depends on your priorities - are you just trying to work as much and as hard as you can so you can retire as early as possible? Or are you less stressed out about retiring and want to find a job you enjoy and that you would like to do for many years?

 

[wucool33]

We spent the majority of our young lives working. Why make it miserable? When you are on your deathbed, will you think “boy I regret not busting my balls at CVS more”?

 

[wagrxm2000]

Keep the CVS job and get any loans paid off quickly then grab an Amazon job as soon as they are available.

 

[6GodPharm]

How can some of you even contemplate close to a 40% paycut? This should not even be considered unless your loan is fully paid off along with cars and most of your mortgage. Suck it up and make the money.

 

[CetiAlphaFive]

Current situation is PIC of a smaller CVS store (~1400 prescriptions/week) in a decent location with a base of 40 hrs/week.
I recently was offered a position outside of CVS (non-retail) for 30 hrs/week that would pay 37% less per year than my current role (with benefits into account). The catch is the position "unofficially" will eventually be 40 hrs/week, which then would turn out to only be about a 16% yearly pay decrease.

With all the cuts CVS is making (in hours, budgets, etc.) I am leaning towards taking the offer to get out of CVS while I can, though any advice would be appreciated.

You aren't taking a pay cut.

You're making an investment in getting out of retail.

Most of the poor plebs in here telling you to stay couldn't buy in even if they wanted to.

 

[zelman]

If you can still pay your bills, leave.

 

[lane one]

Keep the CVS job and get any loans paid off quickly then grab an Amazon job as soon as they are available.

Lol Amazon's gonna be worse bro. They are the CVS of online retailers.

 

[PharmacistFl12]

Take the other job. I would love a full benefits, 30 hour per week job. You will still make a bunch of money and actually have time to enjoy it. There is basically no chance you will look back on it and think "Man I really wish I had stayed with CVS". You don't get chances to break out of retail everyday. Take it!

If you're in your 30s to mid-40s, this is the prime of your career. I know money doesn't buy happiness but this is the time to maximize your earnings IMO. No way I would be ok with taking a $35-40k paycut until student loans and house are paid off. We are have different perspective and I would be willing to take a massive paycut for less stress honestly.

 

[wagrxm2000]

Lol Amazon's gonna be worse bro. They are the CVS of online retailers.

Have to go where the jobs are "homeboy".

 

[josh6718]

How can some of you even contemplate close to a 40% paycut? This should not even be considered unless your loan is fully paid off along with cars and most of your mortgage. Suck it up and make the money.

I'm very fortunate in that my wife and I have no student loans, both cars paid off, no mortgage (currently renting), and ~$250k in savings. I had worked a ridiculous amount of hours when I started interning in 2006 and after graduating in 2012 (when it was less saturated) and lived well below our means.

 

[Sine Cura]

If you applied to this other job, remind yourself why you applied?

 

[pharm B]

We spent the majority of our young lives working. Why make it miserable? When you are on your deathbed, will you think “boy I regret not busting my balls at CVS more”?

This needs to be an epitaph for a few people I know.

 

[CUpharmD2013]

I left CVS and took a $30k paycut and never looked back. So much happier now. Life will work itself out. IMO, you should take it and never look back.

 

[Lnsean]

Current situation is PIC of a smaller CVS store (~1400 prescriptions/week) in a decent location with a base of 40 hrs/week.

I recently was offered a position outside of CVS (non-retail) for 30 hrs/week that would pay 37% less per year than my current role (with benefits into account). The catch is the position "unofficially" will eventually be 40 hrs/week, which then would turn out to only be about a 16% yearly pay decrease.

With all the cuts CVS is making (in hours, budgets, etc.) I am leaning towards taking the offer to get out of CVS while I can, though any advice would be appreciated.

Take it. Life's short..venture out and see what's out there. You can always go back to CVS and slave away the last 30-40 years of your life if it doesn't work out. Most of the people telling you to stay are stuck where they are and cannot even get an interview anywhere else even if they tried.

 

[josh6718]

So after some negotiation I decided to accept the offer from the prospective employer, which will begin in January. What I am trying to decide now is in how much of an advance notice to give the incoming pharmacist supervisor (as our store was part of the CVS district restructuring).

The professional side of me believes at a minimum, a 2-3 week notice is sufficient to avoid burning any bridges and to leave on good terms.

However, at the same time, I would also like to avoid the potential situation that might arise of being immediately (or soon after) replaced and risk losing any 401k vesting match/holiday pay/stock options/vacation, etc. that I would have by the end of the year.

 

[Sine Cura]

They pay out your vacation (eventually). I got my check the following March.

401(k) and stock options that I cannot attest to myself though. I did get my quarterly 401(k) match in Oct but I technically hadn't been terminated at that time.

And I had a RXM at my company (WM) literally give 2 weeks notice right after the market realignment and he gave exactly zero ****s having also left a dumpster fire so there you go.

 

[CetiAlphaFive]

They pay out your vacation (eventually). I got my check the following March.
401(k) and stock options that I cannot attest to myself though. I did get my quarterly 401(k) match in Oct but I technically hadn't been terminated at that time.

And I had a RXM at my company (WM) literally give 2 weeks notice right after the market realignment and he gave exactly zero ****s having also left a dumpster fire so there you go.

One other thing to note:

At Target, you literally could not get more than 2 days off approved.
No matter what.

At CVS, they give you that form at the end of the year so you can apply for any vacation for the whole year.

Walmart was a little better, but not by much.

At my current company:
I've gone out of town for fun 4 times this year.
Just got back from a five day trip to New York just cause i felt like it.

Independents have no ***** schedulers to deal with

 

[JamesL1585]

Nice breakdown. Seems like you’re inside the plantation! Better than being outside, right? Good for you!

One other thing to note:

At Target, you literally could not get more than 2 days off approved.
No matter what.

At CVS, they give you that form at the end of the year so you can apply for any vacation for the whole year.

Walmart was a little better, but not by much.

At my current company:
I've gone out of town for fun 4 times this year.
Just got back from a five day trip to New York just cause i felt like it.

Independents have no ***** schedulers to deal with

 

[BMBiology]

So after some negotiation I decided to accept the offer from the prospective employer, which will begin in January. What I am trying to decide now is in how much of an advance notice to give the incoming pharmacist supervisor (as our store was part of the CVS district restructuring).

The professional side of me believes at a minimum, a 2-3 week notice is sufficient to avoid burning any bridges and to leave on good terms.

However, at the same time, I would also like to avoid the potential situation that might arise of being immediately (or soon after) replaced and risk losing any 401k vesting match/holiday pay/stock options/vacation, etc. that I would have by the end of the year.

when can you start to put money in your 401 k at the new job? when does matching start? If you have to wait a year, I would max out my 401 k at CVS before leaving...max contribution.

 

[Amicable Angora]

When does your new job start in January? Unless you are confident you will get fired ASAP and/or will not be able to contribute for the 2018 tax year, I would suggest giving at least 2 weeks notice.

There’s also the offhand chance that your new job SUCKS. At least you’ll have your fallback with CVS if it doesn’t pan out. Whereas you’ll have blacklisted yourself needlessly if you chose not to give notice.

 

[Sparda29]

Perhaps if you can find an independent who plays with the taxes.

I get $110k/year base pay + $2800/month "transportation expenses".

Hours are M-F 10am-6pm, Saturday 10am-3pm, off Sunday.

The only downside for me is I'm going into work 6 days a week, albeit only 8 hours a day on the weekdays and 5 hours on Saturday. This schedule kinda makes it impossible for me to pick up shifts at my PRN jobs unless I want to pick up a overnight shift at the hospital or a day shift on Sunday (which I'd rather not do for sleep reasons).

 

[wagrxm2000]

Perhaps if you can find an independent who plays with the taxes.

I get $110k/year base pay + $2800/month "transportation expenses".

Hours are M-F 10am-6pm, Saturday 10am-3pm, off Sunday.

The only downside for me is I'm going into work 6 days a week, albeit only 8 hours a day on the weekdays and 5 hours on Saturday.

Every Saturday? No bueno

 

[Sparda29]

Every Saturday? No bueno

I mean, I don't really do much on Saturdays anyway and it's just 5 hours to come in and watch Twitch.tv and Youtube and fill whatever comes in from the urgent care next door/filing paperwork from the week. If I wasn't working, I'd be sleeping till 1pm.

 

[CetiAlphaFive]

Nice breakdown. Seems like you’re inside the plantation! Better than being outside, right? Good for you!

I've got no idea what this post even means.

Aren't you that amazing © inspiring ® guy?
I have you in my Rolodex as, "low energy pharmacist that can't keep a job. Sad."

Are you just seeking out my posts now to try and insult me?

I'm not sure why.
I make more than most retail pharmacists in Texas, I take more vacations, and I'm home well before most corporate guys are eating their dinner snack.

Also, I have a three day weekend every other month.

How's the startup going?
Disrupting the industry yet?

 

[BMBiology]

If you tell CVS you will step down in 2 weeks, they can just let you go that same day. They are not required to honor your 2 weeks.

Some people take a 2 week “vacation” and work at another company. If it is good at the new place after a couple of days, then they tell CVS you are leaving once their vacation is over.


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[6GodPharm]

Perhaps if you can find an independent who plays with the taxes.

I get $110k/year base pay + $2800/month "transportation expenses".

Hours are M-F 10am-6pm, Saturday 10am-3pm, off Sunday.

The only downside for me is I'm going into work 6 days a week, albeit only 8 hours a day on the weekdays and 5 hours on Saturday. This schedule kinda makes it impossible for me to pick up shifts at my PRN jobs unless I want to pick up a overnight shift at the hospital or a day shift on Sunday (which I'd rather not do for sleep reasons).

I like this and hate this at the same time. I wouldn’t be able to stand working 6 days a week with no OT.

 

[Sparda29]

I like this and hate this at the same time. I wouldn’t be able to stand working 6 days a week with no OT.

That's the thing. The owners don't have to look for coverage for Friday and Saturday every week.

Because of that they give me the extra 2800 a month in cash.

So, 110k plus 33k to fill on average 350 scripts a week, pretty good deal.

 

[pharm B]

That's the thing. The owners don't have to look for coverage for Friday and Saturday every week.

Because of that they give me the extra 2800 a month in cash.

So, 110k plus 33k to fill on average 350 scripts a week, pretty good deal.

Do you compound weird products? How do you get enough margin to pay your salary and make a profit as a business?

Edit: and you said you waive all low copays ($10 or less), right?

 

[owlegrad]

If you tell CVS you will step down in 2 weeks, they can just let you go that same day. They are not required to honor your 2 weeks.

Some people take a 2 week “vacation” and work at another company. If it is good at the new place after a couple of days, then they tell CVS you are leaving once their vacation is over.


Sent from my iPhone using Tapatalk

This wasn't my experience nor the experience of anyone I have known that has quite CVS.

 

[wagrxm2000]

No company, CVS nor Walgreens would ever take the risk of just letting someone go. It took us forever to let a pharmacist go once because HR wasn't satisfied enough.

 

[pharm B]

No company, CVS nor Walgreens would ever take the risk of just letting someone go. It took us forever to let a pharmacist go once because HR wasn't satisfied enough.

I'm surprised by this. I assumed they had a disciplinary checklist, where each checked box brought the offender's keister closer to the fire. Once you smelled smoke, you were clear to discharge the person.

 

[Sine Cura]

I've heard of CVS sups demanding immediate resignation (turn in your keys and such) but that's what the pharmacist claimed (gave 2 weeks notice after one week of work)

 

[GypsyHummus]

Thats a really sweet gig. Can most pharmacists get this kind of setup?

Perhaps if you can find an independent who plays with the taxes.

I get $110k/year base pay + $2800/month "transportation expenses".

Hours are M-F 10am-6pm, Saturday 10am-3pm, off Sunday.

The only downside for me is I'm going into work 6 days a week, albeit only 8 hours a day on the weekdays and 5 hours on Saturday. This schedule kinda makes it impossible for me to pick up shifts at my PRN jobs unless I want to pick up a overnight shift at the hospital or a day shift on Sunday (which I'd rather not do for sleep reasons).

 

[owlegrad]

Thats a really sweet gig. Can most pharmacists get this kind of setup?

Sparda is not most pharmacists!

 

[GypsyHummus]

Never tell him the odds!

Sparda is not most pharmacists!

 

[wagrxm2000]

I'm surprised by this. I assumed they had a disciplinary checklist, where each checked box brought the offender's keister closer to the fire. Once you smelled smoke, you were clear to discharge the person.

It was an absolute pain. This was more a bad employee then anything else. My high expectations probably didn't help.

 

[samven582]

That's the thing. The owners don't have to look for coverage for Friday and Saturday every week.

Because of that they give me the extra 2800 a month in cash.

So, 110k plus 33k to fill on average 350 scripts a week, pretty good deal.

That's a pretty sweet gig. Thinking about leaving the hospital setting to something similar to this.

 

[Swishers]

No. IF you still have student loans (like me), no way you should leave retail unless they officially cut my hours or decrease my salary. I would only consider leaving retail after paying off student loans and paying off my first house. No reason to take massive pay cut if you're physically healthy and young enough to endure the grind.

This.

Milk the cash cow while it's still breathing. I love my profession but I think we're way overpaid. Pharmacy would probably still be saturated even if we were getting paid "only" $75k a year.

 

[wucool33]

This.

Milk the cash cow while it's still breathing. I love my profession but I think we're way overpaid. Pharmacy would probably still be saturated even if we were getting paid "only" $75k a year.

No

 

[CetiAlphaFive]

This.
Milk the cash cow while it's still breathing. I love my profession but I think we're way overpaid. Pharmacy would probably still be saturated even if we were getting paid "only" $75k a year.

If a homeless guy looked into a trash can and found a sealed tupperware containing this opinion sitting on top of an amazing steak, he'd say "ew" and keep searching for a moldy bagel.

 

[Gombrich12]

This.

Milk the cash cow while it's still breathing. I love my profession but I think we're way overpaid. Pharmacy would probably still be saturated even if we were getting paid "only" $75k a year.

Most people can be making 75k, 3-4 years out of undergrad if they work hard and have a little luck. Hell target is planning on moving to a minimum wage of $15/hr. In another 10 years the $120,000 pharmacists currently make will be rather pedestrian.

 

[wagrxm2000]

This.

Milk the cash cow while it's still breathing. I love my profession but I think we're way overpaid. Pharmacy would probably still be saturated even if we were getting paid "only" $75k a year.

No it wouldn't, how do I know? Because it wasn't when I got paid that much.

 

[puregoldenboy]

Go per diem and work once a month to stay in system if by some off chance new job doesn't work out.

 

[Sparda29]

That's a pretty sweet gig. Thinking about leaving the hospital setting to something similar to this.

No, don't leave the hospital.

The main negative here is there is no retirement, no 401k, etc. And the owner apparently hit it big on Bitcoin recently so I've been seeing the guy less and less.