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I recently graduated from pharm school (April 2008) and I'm currently working in a shospital as a clinical pharmacist. Here are a few comments I'd like to add to the discussion.
1. I'd say both med and pharm programs are very, very competitive. Obviously med is more competitive, but expect ALL health care programs (med, pharm, nursing, CRNA, PA, etc) to become even more competitive now and in the near future due to the economy. Health care is one of the only areas that is booming! Regardless of whether there is a shortage in any particular health care field, these programs will NOT lower their standards. If anything, you (you, in the general sense, I'm not directing this to anyone specific poster here) need to be a better, stronger candidate.
2. Regardless whether you choose to go med or pharm, as part of the admissions process there will be a required face to face interview (all schools do these). Be sure to have good reasons for picking that profession, and if your penchant for $$$$ comes through, don't be expecting lots of acceptance letters in the mail.
3. I work in an inpatient pharmacy as a clinical pharmacist. I didn't do a residency, but here's what I can tell you about residencies: you can opt to do a one-year residency (commonly referred to as a PGY-1, or "pharmacy practice residency." The PGY-1 is a general residency and most of the time the program is focused on more general aspects of hospital pharmacy.
After completing a PGY-1 residency, you can opt to do a second year of residency. The second year is where you specialize. For instance, you can opt to specialize in ambulatory, critical care, oncology, infectious diseases, etc. The second year of residency is totally separate from the first year, meaning you apply again for your second year, and also you would most likely do your second year of residency at a different hospital.
Keep in mind that a PGY-1 residency is considered similar to 3-5 years of work experience. The hospital that I work for has 3 specialty residencies. They do not require you to have done a PGY-1 residency if you've been out working for 3 to 5 years. I mention this because you may decide to graduate, work for a few years, then go back and do a residency. So if you need to graduate and start making money, a residency might be something you choose to do at some point in the future, however once the pharm money starts rolling in, it's a lot harder to want to go back! (Residencies pay about roughly 40 grand a year).
Oh, and keep in mind, if you do a 2 year residency and work as a specialist, being a "specialist" isn't going to earn you much more money than a regular staff pharmacist. One advantage is that your hours are more lifestyle friendly--you probably won't work many weekends or many nights. Another advantage is you won't be working as a staff pharmacist (order entry and verifying orders can get to be monotonous).
4. If you want the bucks in pharmacy, you need to do retail. And if you do go retail, you probably won't want to do 80 hours a week, at least not on a regular basis. It is true that hospital pharmacists make less than retail. If you do overtime in the hospital, you can make close to what the retail folks make though. Depending on the hospital, some positions are 7/7 (seven days on, seven days off). If you do 7/7, you'll work about 10 hours a day for seven days straight, then you'll have a week off. Some pharmacists do end up working (or picking up overtime) during their off week, however you will most likely not want to work "full-time" during that off week. And even if you did want to work regularly, you'll have one heck of a time scheduling those shifts at another hospital unless that hospital scheduler is very on top of things. Remember too, that once you get out of school and start the daily grind, working 60-80 hours a week just so you can make even more $$$ is going to get really old, really quick no matter if you do retail, hospital, nuclear or whatever.
5. Something you want to ask yourself is what environment you'd like to work in. If you want to be on the front lines, doing procedures, etc, pharmacy may not be for you. As a hospital pharmacist we are required to go to codes, which is definitely fast paced and, at times, pretty exciting. However most of the day is spent either in the pharmacy verifying orders/doses, and getting calls from angry nurses who haven't received their meds. As a clinical pharmacist you're on the phone quite a bit with MDs, and many times rounding with the team, so it can be a bit more cerebral. As for retail, you're dealing with the public. Don't be surprised by patients screaming at the top of their lungs, being rude, and hey, even throwing things at you. There are other options for you as well if you do pharmacy (nuclear, industry, laboratory, management, HMO, etc) however I have no experience with these areas so I can't comment on that.
6. Back to money again for a moment. While MDs make significantly more than pharmacists, don't forget MDs must pay out a big chunk for malpractice insurance. With pharmacy, liability insurance isn't required (although I'd highly, highly recommend you buy a policy--most policies are only about 100-150 bucks a year).
7. As far as getting licensed, right before you graduate you should submit paperwork to the state you want to practice in. After you graduate, your school of pharmacy will send other paperwork to the state confirming you graduated, and a few weeks later you should get a letter from the state indicating you are eligible to take the licensing exams. From there it depends on you--you decide when to take the exams. Most people are fully licensed a couple of months after graduation.
You need to pass 2 exams to be licensed--a general pharmacy-practice exam (the NAPLEX), and also a jurisprudence exam. The NAPLEX is recognized by all states, but each state has its own law exam. So say you live in Texas and pass the NAPLEX and Texas law exam, you can practice in Texas. Say in a few years you want to move to Chicago...to practice in Chicago you'll need to pass the Illinois law exam, but you don't have to retake the NAPLEX.
8. Pharmacy may seem like the "faster" route, however many pharmacy schools are considering a 4 year degree as a requirement. While you may not be required as of yet to have a 4 year degree to get in, you may have an easier time getting in if you earned a 4 year degree (provided you did well!) prior to applying. Med school requires a 4 year degree, so if you are on the fence about which program you want, get a 4 year degree and decide after graduation. The science requirements are similar (gen chm, organic, bio, are required for both programs). Don't make a hasty decision if you are still on the fence.
9. Try to shadow a physician and a pharmacist for a day. Perhaps that will help you decide which path is right (or at least the best) for you.
Good luck!
1. I'd say both med and pharm programs are very, very competitive. Obviously med is more competitive, but expect ALL health care programs (med, pharm, nursing, CRNA, PA, etc) to become even more competitive now and in the near future due to the economy. Health care is one of the only areas that is booming! Regardless of whether there is a shortage in any particular health care field, these programs will NOT lower their standards. If anything, you (you, in the general sense, I'm not directing this to anyone specific poster here) need to be a better, stronger candidate.
2. Regardless whether you choose to go med or pharm, as part of the admissions process there will be a required face to face interview (all schools do these). Be sure to have good reasons for picking that profession, and if your penchant for $$$$ comes through, don't be expecting lots of acceptance letters in the mail.
3. I work in an inpatient pharmacy as a clinical pharmacist. I didn't do a residency, but here's what I can tell you about residencies: you can opt to do a one-year residency (commonly referred to as a PGY-1, or "pharmacy practice residency." The PGY-1 is a general residency and most of the time the program is focused on more general aspects of hospital pharmacy.
After completing a PGY-1 residency, you can opt to do a second year of residency. The second year is where you specialize. For instance, you can opt to specialize in ambulatory, critical care, oncology, infectious diseases, etc. The second year of residency is totally separate from the first year, meaning you apply again for your second year, and also you would most likely do your second year of residency at a different hospital.
Keep in mind that a PGY-1 residency is considered similar to 3-5 years of work experience. The hospital that I work for has 3 specialty residencies. They do not require you to have done a PGY-1 residency if you've been out working for 3 to 5 years. I mention this because you may decide to graduate, work for a few years, then go back and do a residency. So if you need to graduate and start making money, a residency might be something you choose to do at some point in the future, however once the pharm money starts rolling in, it's a lot harder to want to go back! (Residencies pay about roughly 40 grand a year).
Oh, and keep in mind, if you do a 2 year residency and work as a specialist, being a "specialist" isn't going to earn you much more money than a regular staff pharmacist. One advantage is that your hours are more lifestyle friendly--you probably won't work many weekends or many nights. Another advantage is you won't be working as a staff pharmacist (order entry and verifying orders can get to be monotonous).
4. If you want the bucks in pharmacy, you need to do retail. And if you do go retail, you probably won't want to do 80 hours a week, at least not on a regular basis. It is true that hospital pharmacists make less than retail. If you do overtime in the hospital, you can make close to what the retail folks make though. Depending on the hospital, some positions are 7/7 (seven days on, seven days off). If you do 7/7, you'll work about 10 hours a day for seven days straight, then you'll have a week off. Some pharmacists do end up working (or picking up overtime) during their off week, however you will most likely not want to work "full-time" during that off week. And even if you did want to work regularly, you'll have one heck of a time scheduling those shifts at another hospital unless that hospital scheduler is very on top of things. Remember too, that once you get out of school and start the daily grind, working 60-80 hours a week just so you can make even more $$$ is going to get really old, really quick no matter if you do retail, hospital, nuclear or whatever.
5. Something you want to ask yourself is what environment you'd like to work in. If you want to be on the front lines, doing procedures, etc, pharmacy may not be for you. As a hospital pharmacist we are required to go to codes, which is definitely fast paced and, at times, pretty exciting. However most of the day is spent either in the pharmacy verifying orders/doses, and getting calls from angry nurses who haven't received their meds. As a clinical pharmacist you're on the phone quite a bit with MDs, and many times rounding with the team, so it can be a bit more cerebral. As for retail, you're dealing with the public. Don't be surprised by patients screaming at the top of their lungs, being rude, and hey, even throwing things at you. There are other options for you as well if you do pharmacy (nuclear, industry, laboratory, management, HMO, etc) however I have no experience with these areas so I can't comment on that.
6. Back to money again for a moment. While MDs make significantly more than pharmacists, don't forget MDs must pay out a big chunk for malpractice insurance. With pharmacy, liability insurance isn't required (although I'd highly, highly recommend you buy a policy--most policies are only about 100-150 bucks a year).
7. As far as getting licensed, right before you graduate you should submit paperwork to the state you want to practice in. After you graduate, your school of pharmacy will send other paperwork to the state confirming you graduated, and a few weeks later you should get a letter from the state indicating you are eligible to take the licensing exams. From there it depends on you--you decide when to take the exams. Most people are fully licensed a couple of months after graduation.
You need to pass 2 exams to be licensed--a general pharmacy-practice exam (the NAPLEX), and also a jurisprudence exam. The NAPLEX is recognized by all states, but each state has its own law exam. So say you live in Texas and pass the NAPLEX and Texas law exam, you can practice in Texas. Say in a few years you want to move to Chicago...to practice in Chicago you'll need to pass the Illinois law exam, but you don't have to retake the NAPLEX.
8. Pharmacy may seem like the "faster" route, however many pharmacy schools are considering a 4 year degree as a requirement. While you may not be required as of yet to have a 4 year degree to get in, you may have an easier time getting in if you earned a 4 year degree (provided you did well!) prior to applying. Med school requires a 4 year degree, so if you are on the fence about which program you want, get a 4 year degree and decide after graduation. The science requirements are similar (gen chm, organic, bio, are required for both programs). Don't make a hasty decision if you are still on the fence.
9. Try to shadow a physician and a pharmacist for a day. Perhaps that will help you decide which path is right (or at least the best) for you.
Good luck!
