No more overtime for Pharmacists.

[imperial frog]

Bush just approved the overtime reforms and one of the professions that will have guaranteed overtime taken away is pharmacy. It's scheduled to go into affect 120 days from when it goes into the Federal Register which will probably be Friday.

http://moneycentral.msn.com/content/invest/extra/P76764.asp?GT1=3256

Do you think that the pharmacist shortage will override this and force voluntary overtime pay in order to keep us happy? I was counting on substantial overtime to help fund my sailboat when I graduate.

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[jdpharmd?]

I'm not an macro-economics major or anything, but is it possible that it will actually work like THIS:

No overtime makes pharmacists less likely to work overtime -> Less pharmacists working overtime INCREASES demand for pharmacists (same #, working FEWER hours) -> increased demand for pharmacists leads to HIGHER starting salaries at 40 hrs/wk

?

 

[28657]

"...While generally considered a slight victory for corporate interests..."

Ohhh how hard it is to not turn this topic into an Everyone Forum style post....

Anyway, I've read it was previously being considered for hourly paid pharmacists to still be eligible for overtime; thus, only exempting salaried pharmacists. Does anyone know if this provision passed?

 

[imperial frog]

I'm not an macro-economics major or anything, but is it possible that it will actually work like THIS:

No overtime makes pharmacists less likely to work overtime -> Less pharmacists working overtime INCREASES demand for pharmacists (same #, working FEWER hours) -> increased demand for pharmacists leads to HIGHER starting salaries at 40 hrs/wk

?

If it went by normal economics the situation would be to keep paying overtime...thanks to the shortage there aren't wouldn't be enough pharmacists to work 40 hrs/wk maximum. However, businesses don't always do what is economical.

And no, the way it reads, hourly pharmacists would be exempt from overtime as well as salaried. A business could pay it if it wanted to but there would be no federal mandate for it.