Pharmacist Salary Thread

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It's a legitimate question. It wasn't lazy or stupid. What is stupid is calling someone else or their thoughts "stupid" and then walking off, because you cannot think of anything more intelligent to say. This is not atypical of some of the users of this forum. State and federal government taxes could be in excess of $30k/yr. That is substantial, and I cannot tell you how many of my "highly educated" classmates (P3's!) are foolishly blind to this. So many of them are under the impression they will only pay 5 or 10k in taxes. I just have to laugh, and I'll bet some of these pre-pharmacy guardians of our profession above who disparaged you didn't even know the right answer and have since researched it. So I would estimate if you gross $100k, after it's all said and done you will take home roughly ~$75k. Others more knowledgeable please feel free to correct me, or just be offended...whichever.
 
thelonius said:
It's a legitimate question. It wasn't lazy or stupid. What is stupid is calling someone else or their thoughts "stupid" and then walking off, because you cannot think of anything more intelligent to say. This is not atypical of some of the users of this forum. State and federal government taxes could be in excess of $30k/yr. That is substantial, and I cannot tell you how many of my "highly educated" classmates (P3's!) are foolishly blind to this. So many of them are under the impression they will only pay 5 or 10k in taxes. I just have to laugh, and I'll bet some of these pre-pharmacy guardians of our profession above who disparaged you didn't even know the right answer and have since researched it. So I would estimate if you gross $100k, after it's all said and done you will take home roughly ~$75k. Others more knowledgeable please feel free to correct me, or just be offended...whichever.
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Don't be ridiculous. Your so called "highly educated" classmates..what good did the education do if they can't figure out a simple income assessment??

Federal (including FICA) and state tax rates are available, then subtract 401K and health benefit cost then you have the take home pay. If you can't do this, you're stupid.
 
Oh, I get it. You should only ask questions on here that cannot be answered elsewhere.
 
i was thinking that the 105,000$ average salary is after taxes. if i was sure about it i wouldn't ask you guys.
 
It is interesting what some find to be a permissible (or not) question on here. Apparently it is ok to discuss what your favorite cookie or movie is but we can't discuss take-home salary issues-because that information can be found somewhere else. How many questions asked here could not have been answered somewhere else? BTW, it doesn't bother me if anyone wants to discuss movies and cookies.
 
do pharmacists get federal income tax returns? or just state tax refund?

the reason i ask because i don't get a pay stub when i get paid, so i don't know how much taxes i pay. i get paid cash.
 
dmd20000 said:
i was unaware of the tax rates. i looked up the federal rate and it is HUGE!
28%!!!!!
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I think the issue was that you didn't do this before you asked. Given that there have been recent threads on what 4th years are being offered and federal tax info is so readily available, most people don't understand why someone would ask a question where the answer can be self-learned rather readily by simple searches. I agree the reactions were less than satisfactory, but the order in which you looked for you info was a little out of order.
 
thelonius said:
Oh, I get it. You should only ask questions on here that cannot be answered elsewhere.
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hmmm....that's a good start. But don't worry..seems like you know how to calculate it..so you're not stupid.
 
thelonius said:
It is interesting what some find to be a permissible (or not) question on here. Apparently it is ok to discuss what your favorite cookie or movie is but we can't discuss take-home salary issues-because that information can be found somewhere else. How many questions asked here could not have been answered somewhere else? BTW, it doesn't bother me if anyone wants to discuss movies and cookies.
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Unless asked, we don't know what the answer is to what is your favorite movie or cookies are. So those posts are legit.
 
dmd20000 said:
i was thinking that the 105,000$ average salary is after taxes. if i was sure about it i wouldn't ask you guys.
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Yea no if a number is that high it is usually gross. Take around ( just throwing numbers out) 28%-35% off for taxes, than take off benefits ( if you pay for them), and 401k( if you have one), and anyother things you may also need to take off. Many people have these amazing dreams of how much healthcare providers make but in reality its alot less than people think.
 
dmd20000 said:
do pharmacists get federal income tax returns? or just state tax refund?

the reason i ask because i don't get a pay stub when i get paid, so i don't know how much taxes i pay. i get paid cash.
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Where do you work?
 
^
^
^

Don't answer that unless you want to see your employer get into a serious trouble with the IRS. :meanie::meanie::meanie:
 
i was expecting a 2000$+ in income tax refunds, but the check was under than 25$. i did the calculation and i should be getting at least 500$.
 
I would subtract 30% from yearly salary. Depends how much state tax you pay.

I don't believe pharmacists in the armed services need to pay state taxes. Definitely a plus.

On this topic, if one were to buy a computer or a PDA , or any other sort of work-related supplies one will use for work, would that be entitled to tax exemption?
 
WVUPharm2007 said:
It's so bad that I drive an old ass Ford Taurus with 165,000 miles and live in a single-wide. 😱
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I drive an '88 Ford Taurus and it still only has 80,000 miles on it. My plan is to drive it until 4 years after graduation. By then, an Audi R8 that is about 3-5 years old should be no more than $80000. I would only have to save $20000 for each year while driving my Taurus.

Btw, did that guy send you $5 to take down that pic. Each time I see your icon I keep thinking, "Uhh, why the long face? Did WVU lose another one?" :laugh:
 
i ran the numbers a couple weeks ago, and the effective salary for a pharmacy in california is 73% of what your gross is. this takes into account federal tax, and other taxes levied in CA.
 
FruitFly said:
I would subtract 30% from yearly salary. Depends how much state tax you pay.

I don't believe pharmacists in the armed services need to pay state taxes. Definitely a plus.

On this topic, if one were to buy a computer or a PDA , or any other sort of work-related supplies one will use for work, would that be entitled to tax exemption?
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On that, I think so.
 
WVUPharm2007 said:
I take home $2500 every two weeks after taxes, benefits, and 401k...so I really get about $65k/year of real money. It's so bad that I drive an old ass Ford Taurus with 165,000 miles and live in a single-wide. 😱
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You're only upset because of Frankie the evil club-weilding capsule. He rules with an vinyl fist and a spiked club which is why you drive an old ass Taurus and live in a single-wide.
 
Haha, I love the new a-hole ripping this thread provides. It's great Christmas entertainment!

Yeah, if you lack understanding in personal finances....you're going to be taken advantage of. Just because you gross six figures doesn't make you immune to stupid financial decisions. If you can't even calculate take home pay (even an estimate)...that's just pretty sad.

I think this country in general has done a piss poor job at teaching kids about money. Good lord. I'm reading this and wondering if I should be a financial planner instead, I could rob some of you blind. Did someone really think that the fed takes out 28% of your income? Progressive tax ring a bell?

Ugh...oh well, not my money :luck:
 
I'm really not good with numbers so let's say I made 75k as a dental hygienist, what would my income be at the end of the year when taxes are tooken out? and what would the salary be for a Pharmacist who makes 108K a year?
 
Pharmacists really don't make as much as people think. You more than likely aren't going to be driving a Bentley with a mini mansion on the lake. After you pay SS, medicaid, Fed, state, 401k, IRA, etc.. you might bring in 65% - 70% so maybe $5000 or $6000 a month take home pay. Then if you go to a private school with enormous loans with a payment of $1500 a month, you could take home as little as $3500 a month. My fiance makes that much as an elementary teacher with a masters, and her education was free!

Pre-pharms seem to think they are going to live like they are in a rap video after pharmacy school, then reality hits. Don't do it for the money. BTW dental hygienist make too much money, 70K to clean teeth with a 2 year degree, hardly any debt, and not much time investment in their career, boooooooooo.
 
easy now people. don't be calling others stupid! if you are in pharmacy, you can't be that genius.
 
JeremyE30 said:
Pharmacists really don't make as much as people think. You more than likely aren't going to be driving a Bentley with a mini mansion on the lake. After you pay SS, medicaid, Fed, state, 401k, IRA, etc.. you might bring in 65% - 70% so maybe $5000 or $6000 a month take home pay. Then if you go to a private school with enormous loans with a payment of $1500 a month, you could take home as little as $3500 a month. My fiance makes that much as an elementary teacher with a masters, and her education was free!

Pre-pharms seem to think they are going to live like they are in a rap video after pharmacy school, then reality hits. Don't do it for the money. BTW dental hygienist make too much money, 70K to clean teeth with a 2 year degree, hardly any debt, and not much time investment in their career, boooooooooo.
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Smart guy...
 
JeremyE30 said:
Pharmacists really don't make as much as people think. You more than likely aren't going to be driving a Bentley with a mini mansion on the lake. After you pay SS, medicaid, Fed, state, 401k, IRA, etc.. you might bring in 65% - 70% so maybe $5000 or $6000 a month take home pay. Then if you go to a private school with enormous loans with a payment of $1500 a month, you could take home as little as $3500 a month. My fiance makes that much as an elementary teacher with a masters, and her education was free!

Pre-pharms seem to think they are going to live like they are in a rap video after pharmacy school, then reality hits. Don't do it for the money. BTW dental hygienist make too much money, 70K to clean teeth with a 2 year degree, hardly any debt, and not much time investment in their career, boooooooooo.
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So with that in the equation how much money someone would take home if they grossed 75-80K a year?
 
Way too much doom and gloom in this thread.

Ive got buddies that I graduated with that pulled down anywhere from 120-180k this first full year working. Trust me, were living just fine. We might not be all driving the latest Ferraris, but we have some impressive toys.
 
StallionRx said:
Way too much doom and gloom in this thread.

Ive got buddies that I graduated with that pulled down anywhere from 120-180k this first full year working. Trust me, were living just fine. We might not be all driving the latest Ferraris, but we have some impressive toys.
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Do any of them work in hospital? Please, say yes.
 
StallionRx said:
Way too much doom and gloom in this thread.

Ive got buddies that I graduated with that pulled down anywhere from 120-180k this first full year working. Trust me, were living just fine. We might not be all driving the latest Ferraris, but we have some impressive toys.
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120-180K, Where you live if you don't mind me asking.
 
james07 said:
120-180K, Where you live if you don't mind me asking.
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That range is from people I know in the NE region. Might I add, those at the upper end of that scale are working more than 40 hours a week in retail settings.

The ones I know working hospital make far less hourly than retail, but seem to work alot of OT without being so burned out. So Im not exactly sure what theyre coming home with at the end of it all. Maybe 10k plus their base? One hospital buddy just bought an 09 GTR if that makes you feel better.
 
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StallionRx said:
That range is from people I know in the NE region. Might I add, those at the upper end of that scale are working more than 40 hours a week in retail settings.

The ones I know working hospital make far less hourly than retail, but seem to work alot of OT without being so burned out. So Im not exactly sure what theyre coming home with at the end of it all. Maybe 10k plus their base? One hospital buddy just bought an 09 GTR if that makes you feel better.
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Why would a pharmacist buying a 09 GTR make me feel better? There are all sorts of people driving around cars they can't really afford/spending all their income on car payments, it doesn't mean they are financially smart or rich and they could be hiding from the repo man.
 
PumpkinSmasher said:
Why would a pharmacist buying a 09 GTR make me feel better? There are all sorts of people driving around cars they can't really afford/spending all their income on car payments, it doesn't mean they are financially smart or rich and they could be hiding from the repo man.
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For one, I dont know who you are, but the person who I was originally talking to was asking about hospital pharmacist salaries. Probabley because theyre sick of busting theyre ass in pharmacy school and coming on to this forum and hearing all the misery surrounding the profession and are beginning to wonder if they made the right choice. All im offering is a bit of light at the end of the tunnel. I would have loved somebody to tell me when I was going through school that I could achieve some of the dreams I hoped for.

I think alot of people need a serious wake up call. Many people here are in their 20s and making a six figure income. I dont know about you guys, but thats alot of damn money for a person to be making in their twenties. I make more than alot of people twice my age and ill be dead honest when I say I dont work very hard. Anyone here ever done hard physical labor? Like work in ditches, or hang sheetrock all day or pour concrete? I have, and was paid 1/6 of what I make now. Be grateful you even have a job in these times...


P.S. - The story about the GTR isnt about being financially smart; buying expensive cars never is, but being able to do so comfortabley makes the story worth while.
 
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I too have been there. Washing cars at BMW, customer service jobs, working in warehouses to $10-$12/hr. It is tough. I'm thankful I'm in this profession.
 
GTR is a hot car. i think its value will stay very high and may even turn out as a classic "rice car" 10-20 years from now if you keep it in good condition. Even the Supra and old RX-7 is high in value due to all those who want to rice it up.
 
Do you get a lower percentage of your income taken if you have a family and kids?
 
StallionRx said:
For one, I dont know who you are, but the person who I was originally talking to was asking about hospital pharmacist salaries. Probabley because theyre sick of busting theyre ass in pharmacy school and coming on to this forum and hearing all the misery surrounding the profession and are beginning to wonder if they made the right choice. All im offering is a bit of light at the end of the tunnel. I would have loved somebody to tell me when I was going through school that I could achieve some of the dreams I hoped for.

I think alot of people need a serious wake up call. Many people here are in their 20s and making a six figure income. I dont know about you guys, but thats alot of damn money for a person to be making in their twenties. I make more than alot of people twice my age and ill be dead honest when I say I dont work very hard. Anyone here ever done hard physical labor? Like work in ditches, or hang sheetrock all day or pour concrete? I have, and was paid 1/6 of what I make now. Be grateful you even have a job in these times...


P.S. - The story about the GTR isnt about being financially smart; buying expensive cars never is, but being able to do so comfortabley makes the story worth while.
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I'll be happy with a Camry SE, lol. I think its fundemental human nature that people just want more than what they have.
 
blueclassring said:
I too have been there. Washing cars at BMW, customer service jobs, working in warehouses to $10-$12/hr. It is tough. I'm thankful I'm in this profession.
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Try working in a restuarant for four years earning $7.50/hr as someone who does the grill... ugh it gets positively hot in the summer.

Makes me think twice about complaining about salaries lol.
 
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