Move to other role for higher pay or stay put due to excellent PTO - what would you do ?

[DoctorRx1986]

Hi, guys . I’ve posted here previously about my current role working from home for a PBM for 3 years now. Prior to this role , I worked retail for 9 years and left in 2022. Anyway, my current role has been nearly stress free , chill , comfortable , and I am a solid performer based on metrics , feedback , etc . Overall pretty happy. The problem is I am vastly underpaid for my years of pharmacist experience- I am at $56 an hour for 40 hours a week but I do get a bonus of plus or minus around $5k before taxes . I’ve been a pharmacist for twelve years now and when I left retail I had to take a pay cut of 10% to get my current role - at the time my rate dropped to $52/hour . I’m at $56 now due to raises and I’m about to see another raise next week due to annual performance review . I suspect my raise will likely bring me up to $57-$58/hour . I see too many posts on Reddit and other forums online where so many pharmacists , including non-retail , are making about $5-$10 more than I am per hour . I’m feeling financially behind compared to most pharmacists at this point . I should ideally be making $63-$66 an hour . Some pharmacists are hitting $70/hr . What is holding me back ? I have excellent PTO- 28 days (includes vacation/sick time ) plus 8 holidays . I get a lot of time off , far more than most pharmacists and only 3 years in . Would you look for other positions that offer higher pay $6-$10 an hour more OR stay put in my role despite the lower pay and just look internally within my company to see what other higher paying jobs they offer ? I believe I already know the answer - look internally within my PBM if I want more money . I am realizing that $5-$10 an hour more will disappear by leaving and commuting to work, spending on professional attire , meals, and other random **** . Also, I’m aware I will likely only get offered half the PTO I currently have . So, what would you guys do ? I know everyone is crazy about work from home - I get it . But money is also king especially with inflation etc . At what price would you leave your WFH for more money and perhaps less PTO? I am not leaving at this time , by the way . I am just trying to see what I am going to do to end up with a higher paying role . I truly believe looking internally is the best choice but I want to hear insights from other pharmacists . Thanks .

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[RxPreceptor]

I’m pretty sure we are roughly the same age…

Hell, I’d stick it out if I was in your shoes…40s QoL starts to matter more. Focus on yourself & personal goals…money isn’t everything & time off, comparatively good work conditions, & health matters more as time flies by. Cut back (lifestyle creep) if possible, hammer savings, investing, retirement funds.

“Comparison is the thief of joy”

 

[DoctorRx1986]

I’m pretty sure we are roughly the same age…

Hell, I’d stick it out if I was in your shoes…40s QoL starts to matter more. Focus on yourself & personal goals…money isn’t everything & time off, comparatively good work conditions, & health matters more as time flies by. Cut back (lifestyle creep) if possible, hammer savings, investing, retirement funds.

“Comparison is the thief of joy”

Thanks for your response . Close to 40s, yes- age 38. Definitely agree with you but you wouldn’t look to do a lateral move within your PBM/employer for a higher paying role possibly ? Not even leaving your company, just checking out what other RPH roles the company offers that may pay a little more ? At 3 years in , it would also be easier to move into a different role as an internal candidate. It would be nice to make more, stay with my employer, and keep my European amounts of PTO .

 

[lord999]

I'd agree with @RxPreceptor, but think about the bird in hand probably more. I would probably go for OT opportunities (or secondary job) to supplement rather than risk a good thing outside of the pay.

 

[BenJammin]

Five and a half weeks of vacation?! Damn.

 

[DoctorRx1986]

Five and a half weeks of vacation?! Damn.

Yes, that’s right , 28 days of PTO . I’m just not too thrilled about pay . I will likely stay put with my employer but simply look into making a lateral move into another rph role . PBMs such as express scripts , cvs Caremark , etc typically have many different pharmacist roles . If I can find another role I also like and pays a bit more , I’d be set . I live in a high cost of living area and I just find it ridiculous how even on nearly $120,000 a year , it is still tough out here . I live in south Florida and in my city the typical person makes no where near $100k and rents are easily $2k a month. You can very easily find rents/mortgages for $2,500-$3,000 a month or more . I don’t know how people are doing it here . I’m ok but my salary certainly doesn’t take me as far as it did 8-10 years ago .

 

[projektreverb]

I’d personally stick it out unless someone else offers you a remote role for more money. Otherwise you’re loosing any raise in commuting costs and sunken costs.

 

[RxPreceptor]

Ha, yeah same exact age…my vote is to stick with what you’ve got until you become too bored/monotony gets to you. Building wealth is secondary, more about having the discipline to keep a greater % of what you make

 

[AONLINE]

Yes, that’s right , 28 days of PTO . I’m just not too thrilled about pay . I will likely stay put with my employer but simply look into making a lateral move into another rph role . PBMs such as express scripts , cvs Caremark , etc typically have many different pharmacist roles . If I can find another role I also like and pays a bit more , I’d be set . I live in a high cost of living area and I just find it ridiculous how even on nearly $120,000 a year , it is still tough out here . I live in south Florida and in my city the typical person makes no where near $100k and rents are easily $2k a month. You can very easily find rents/mortgages for $2,500-$3,000 a month or more . I don’t know how people are doing it here . I’m ok but my salary certainly doesn’t take me as far as it did 8-10 years ago .

I feel you. I live in an East Coast city with probably the same COL as your city in south Florida. I make somewhere between $200k-$240k as a dentist and still find it pretty tough.