A lower salary in a vacuum is no problem.
A lower salary with an increasing number of schools (mostly the upstart stand-alones, like Cal Northstate but even established schools like UoP) charging 40-70k a year for tuition is the problem, and I have addressed this in several of my posts.
Clearly, a motivational factor in our society is money. Possessions, quality of life, prestige are all corollary motivating components to why we choose a particular job. Putting it plainly, would as many people still want to be Pharmacists if the average salary for a Pharmacist in the US was $52,000 instead of $80,000? Well, if they have the same amount of student loan debt @ 52k that they would @ 80k, then there is a serious problem. Becoming a Pharmacist should not equate to a vow of poverty, and so if a Pharmacist's salary is to be decreased then tuition should also decrease. However, this does not occur, and as I have said before, tuition keeps going up and expectant income for newly minted PharmDs either stays the same or goes down (as a function of how many PharmDs are available for work).
Now, a separate issue (which people tend to lump together as one problem with salary) in regards to money is people choosing Pharmacy JUST for the salary benefits and not necessarily because they want to do it, love it, or have the same level of passion for it that many of us do.
The question I leave you with, SDN, on that topic is this: Is it not possible for someone to love the work but be worse at it than someone who is only in it for the money? That is to say... Who are we to judge someone on the basis of their motivation to practice Pharmacy if they are practicing well? And if they are not practicing well, then they should be subject to the same sanctions as would be someone who loves Pharmacy.
In our world, as human beings, we separate people via in-group vs. out-group based on set criteria for whatever we're discussing. So, on SDN, when we talk about someone who "is just in it for the money", we're distancing ourselves from them (I am sure not in it for the money! that says) but really, "just doing it for the money" does NOT pre-dispose them from being any less of an excellent Pharmacist than you loving Pharmacy pre-disposes you to be an excellent Pharmacist!!
People won't agree with me here, but I am comfortable with that. Additionally, people don't agree with me that I think Cal Northstate and Tuoro, along with several other new Pharmacy schools, are going to lead to an extreme dilution in the quality of Pharmacist overall being produced (I.e., expectations will be decreased) which will, over time (OVER TIME), devalue our profession and in turn lead to a decrease in salary.
If we want to preserve our chose profession, we need to put a stop to schools starting up CoPs for pure profit (And henceforth stop admitting people with 2.8 GPAs into Pharmacy schools). I am not a perfect student, nor am I a genius, and I am not saying that I am either. I do not have a 4.0, but conversely, if I had a <2.7 GPA and a 50 PCAT, I would not expect to get into a Pharmacy school.
The sad thing is, schools are starting to take people with those qualifications. Indeed, the exception to the rule would be someone with poor scholastics but who is still an excellent pharmacist. This does occur. But the overall PERCEPTION (Which when it comes to funding, is reality) for the profession is that if it's easy to get into Pharmacy school and graduate from Pharmacy school, then why are Pharmacists paid so much?
It gets back to the University of Phoenix degree, and stuff like Heald Law School. Law is an excellent example of what Pharmacy might end up like in 15 years, or less - Oversaturated and, despite SOME attorneys making excellent money at the top of the field, a low paid profession (With an extremely high debt load, just look at the law student forums or an LJ community).