Pharmacist vs. dentist

[xiphoid2010]

Like dentistry is also a great career choice. It's probably better to be a dentist than a family doctor in term of pay. (they both make about $150K average, but dentist work less hours and need fewer years of schooling).

I would think the deciding factors come down to these:
(1) are you willing to take more student loans upfront for more money later?
(2) are you comfortable taking on the responsibilities and risks of business ownership?
(3) are you shooting to be done in 6 years total?
(4) are you comfortable dealing with mouths and germs?

I think dentistry is a great route to go. The business truism of "greater the risks, greater the rewards" holds here. But the field of practice will be more restricted and when I was studying infectious diseases, I was thinking "man, I had no idea human mouth is this disgusting". FYI for most of you: you would rather be bitten by a cat or dog than a human (human mouths are the dirtiest). LOL

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[DrYoda]

you will not fly a jet if you are in the air force unless you are a pilot.

. Airborne drug delivery.

 

[xiphoid2010]

Also one thing to keep in mind: pharmacists can go own-your-own store route as well.

Here's what we learned in the pharmacy management course:
for 2007,
(1) the average privately owned pharmacy made a net profit of $80K.
(2) the average pharmacy owner owned an average of 1.7 stores.

Note: the $80K profit is AFTER the pharmacist's salary, so if you are the pharmacist AND the owner, you made about $180K at that store. And if you owned the average 1.7 stores, you made $80K x 1.7 + $100K (your salary) = $236K

few things to keep in mind:
(1) most privately owned pharmacies are now in cities/towns with less than 50,000 population. Retail chains are taking over in the larger cities.
(2) a new pharmacy store costs an average of $400k to open, $300K if you buy it from someone else. That's not a small financial risk you are taking.
(3) the net profit margin is only 3.6% on average (so profits mainly based on revenue). So you need have a good business sense, as even a small difference makes a big difference in profit.

The bottom line: if you are willing to take on the risk of private practice and ownership, you can make good money in pharmacy too. But unlike dentistry, national chain stores are taking over in the cities.

 

[PumpkinSmasher]

Also one thing to keep in mind: pharmacists can go own-your-own store route as well.

Here's what we learned in the pharmacy management course:
for 2007,
(1) the average privately owned pharmacy made a net profit of $80K.
(2) the average pharmacy owner owned an average of 1.7 stores.

Note: the $80K profit is AFTER the pharmacist's salary, so if you are the pharmacist AND the owner, you made about $180K at that store. And if you owned the average 1.7 stores, you made $80K x 1.7 + $100K (your salary) = $236K

few things to keep in mind:
(1) most privately owned pharmacies are now in cities/towns with less than 50,000 population. Retail chains are taking over in the larger cities.
(2) a new pharmacy store costs an average of $400k to open, $300K if you buy it from someone else. That's not a small financial risk you are taking.
(3) the net profit margin is only 3.6% on average (so profits mainly based on revenue). So you need have a good business sense, as even a small difference makes a big difference in profit.

The bottom line: if you are willing to take on the risk of private practice and ownership, you can make good money in pharmacy too. But unlike dentistry, national chain stores are taking over in the cities.

Sears is trying to compete, they have Sears' dentists in Pittsburgh stores.

 

[PumpkinSmasher]

Also one thing to keep in mind: pharmacists can go own-your-own store route as well.

Here's what we learned in the pharmacy management course:
for 2007,
(1) the average privately owned pharmacy made a net profit of $80K.
(2) the average pharmacy owner owned an average of 1.7 stores.

Note: the $80K profit is AFTER the pharmacist's salary, so if you are the pharmacist AND the owner, you made about $180K at that store. And if you owned the average 1.7 stores, you made $80K x 1.7 + $100K (your salary) = $236K

Did the course mention the average # of hours worked by an independent pharmacy owner? The independents I know, love running their businesses the way they see fit and usually end up putting in 60 hours a week, sometimes more.

Gotta pay the mortgage...

 

[xiphoid2010]

Did the course mention the average # of hours worked by an independent pharmacy owner? The independents I know, love running their businesses the way they see fit and usually end up putting in 60 hours a week, sometimes more.

Gotta pay the mortgage...

average 55 hr per week.

I want to make a few corrections, after brushing off the dust on my old notes. From 2008 NACP report (2007 data).
(1) average net operating profit is 3.0%, not 3.6%
(2) median net operating income is $89K, not $80K
(3) average stores owned is 1.55, not 1.7

So your average pharmacy owner made: $89K x 1.55 + $100K = $238K

BUT! If you took out $400K loan to set up shop, then the profit is less.

 

[Kruton]

average 55 hr per week.

I want to make a few corrections, after brushing off the dust on my old notes. From 2008 NACP report (2007 data).
(1) average net operating profit is 3.0%, not 3.6%
(2) median net operating income is $89K, not $80K
(3) average stores owned is 1.55, not 1.7

So your average pharmacy owner made: $89K x 1.55 + $100K = $238K

BUT! If you took out $400K loan to set up shop, then the profit is less.

It would be awesome if we could get the same stats for dentisits

 

[a runner]

It would be awesome if we could get the same stats for dentisits

Well, this is old data, but the average independent general dentist practitioner made $198,350 in 2005 and for specialists (orthodontists, prosthodontists, pedodontists, etc) it was $304,020. It's probably higher now, considering this was 4 years ago.

http://www.ada.org/ada/prod/survey/faq.asp

As far as net profit margins, dentists had the highest margins of any profession at about 17% for 2008. Physician offices were 4th at 12%, to put it into perspective.

http://www.bizjournals.com/triangle/stories/2009/01/26/daily23.html?surround=lfn

As far as the best bang for your buck (and time), dentistry is the way to go. It's just a matter if dentistry is what you want to do or not. Personally, pharmacy appeals to me more in many ways, though dentistry appeals in some ways, pharmacy wins out for me in the end.

 

[xiphoid2010]

^ wow, those are some pretty sweet numbers. To bad that Pharmacy profession is increasingly being taken over by chain stores, other wise we could all be making more money as independents.

 

[Kruton]

^ wow, those are some pretty sweet numbers. To bad that Pharmacy profession is increasingly being taken over by chain stores, other wise we could all be making more money as independents.

Bet by the time we are all sixty dentistry will be fighting the same battle we are.

 

[SHC1984]

Well, this is old data, but the average independent general dentist practitioner made $198,350 in 2005 and for specialists (orthodontists, prosthodontists, pedodontists, etc) it was $304,020. It's probably higher now, considering this was 4 years ago.

http://www.ada.org/ada/prod/survey/faq.asp

As far as net profit margins, dentists had the highest margins of any profession at about 17% for 2008. Physician offices were 4th at 12%, to put it into perspective.

http://www.bizjournals.com/triangle/stories/2009/01/26/daily23.html?surround=lfn

As far as the best bang for your buck (and time), dentistry is the way to go. It's just a matter if dentistry is what you want to do or not. Personally, pharmacy appeals to me more in many ways, though dentistry appeals in some ways, pharmacy wins out for me in the end.

Yeah thats the reason why I went to dental school b/c of these sweet numbers....but touching people's nasty mouths just isn't worth it unless these sweet numbers are in the millions instead! Plus its always better to marry a dentist then to be one.

 

[FunnyHunny]

Some people are just nasty when it comes to oral hygiene, I couldn't imagine having to deal with everything. My dentist has told me stories of people coming in for a cleaning right after eating lunch (he made a face and said "apparently they think it's like a car wash" lol). When I was little I threw up on the poor guy - the polish stuff was just nasty. And I know he has to deal with business issues, obnoxious/scared children, overbearing parents, and just plain nasty hygiene. There are some people I don't even want to shake hands with let alone stick my hand in their mouth. IMO not worth it.

 

[applejuju]

my pharmacist, graduated 2008, makes $52 an hour retail. That's over 100K a year. Her fiance, a dentist, makes 3 times that amount.

This is just 2 people though... just thought I would add some insight.

 

[a runner]

Yeah, that's definately one difference between pharmacy and dentistry. The majority of pharmacist salaries seem to be within a fairly narrow range ($90-130k), while dentist salaries are a bit more spread out. There are a lot of salaried dentists that make in the $100-$150k low range, while there are also plenty of dentists that make over $300k. It just depends on the individual and the practice.

Suffice it to say, dentists will, on average, make more. They will also have more earning potential since it is easier to have your own practice or share a practice.

If money was all that mattered, then we'd all become dentists , but obviously we're mostly all pre-pharm here, so that's not the case. IMO, dentistry would be much more stressful than pharmacy...

 

[SHC1984]

Yeah, that's definately one difference between pharmacy and dentistry. The majority of pharmacist salaries seem to be within a fairly narrow range ($90-130k), while dentist salaries are a bit more spread out. There are a lot of salaried dentists that make in the $100-$150k low range, while there are also plenty of dentists that make over $300k. It just depends on the individual and the practice.

Suffice it to say, dentists will, on average, make more. They will also have more earning potential since it is easier to have your own practice or share a practice.

If money was all that mattered, then we'd all become dentists , but obviously we're mostly all pre-pharm here, so that's not the case. IMO, dentistry would be much more stressful than pharmacy...

That is very true but Dentists on average owe 300K+ in student loans (unless mom and dad is paying...) and at least one million dollars in private practice loans....so yes dentist make more but they also OWE 1.3 million ON AVERAGE (if you open a practice in New york city its 5 million dollars!) so unless mom and dad is giving you 1.3 million you will be paying out A TON!

But the main reason why I left that field was b/c the human mouth was just too damn nasty. If I can net 1 million dollars a year then MAYBE I will consider it again!

 

[a runner]

That is very true but Dentists on average owe 300K+ in student loans (unless mom and dad is paying...) and at least one million dollars in private practice loans....so yes dentist make more but they also OWE 1.3 million ON AVERAGE (if you open a practice in New york city its 5 million dollars!) so unless mom and dad is giving you 1.3 million you will be paying out A TON!

But the main reason why I left that field was b/c the human mouth was just too damn nasty. If I can net 1 million dollars a year then MAYBE I will consider it again!

You're right about the tuition differences... private dental schools run from around $45-$65k per year, however state school tuition is comparable to pharmacy ($15-$25k). So if you choose a state school (if your state has one), it is possible to come out with under $150k in debt.

I think those ADA numbers take into account private practice loans, since they would be business expenses. The $304k and $198k should be after those costs are considered.

The average gross billings for 2005 were $660k for general dentists and $882k for specialists, so those would be the numbers BEFORE private practice loan expenses, employee wages, utilities, dental supplies, etc. are taken into account.

 

[SHC1984]

You're right about the tuition differences... private dental schools run from around $45-$65k per year, however state school tuition is comparable to pharmacy ($15-$25k). So if you choose a state school (if your state has one), it is possible to come out with under $150k in debt.

I think those ADA numbers take into account private practice loans, since they would be business expenses. The $304k and $198k should be after those costs are considered.

The average gross billings for 2005 were $660k for general dentists and $882k for specialists, so those would be the numbers BEFORE private practice loan expenses, employee wages, utilities, dental supplies, etc. are taken into account.

You are right about public dental schools being cheaper and around the price of Pharmacy schools....however I still think in order for a dentist or specialist to make (NET) 198K or 304K is if they go to a public dental school OR if their parents are paying for their entire tuiton AND they inherited a already very eshablished private practice from their parents or relative etc. etc. Which happens alot. In fact I was the only person I know in my dental class that was borrowing the FULL cost of attendance (living+tuition etc.) I know a few people that didn't have to take out any loans....so in their case they will be make a TON of money (their "business expenses are proberly only electricity+water bill and paying a few other employees...LOL..), but in my case after 300K of student debt from an Ivy League school and a one million dollar practice...I DOUBT I will be living like anyone of my classmates or "the nice lifestyle" that most other dentists live like....

The ADA shows averages of people like my classmates, not people like me that have to take out the full cost of education....

 

[pharmagirl15]

Haha I am debating between pharmacy and dentistry as well.

Pharmacy in my opinion
Pros
-stable, clean
-no need to bring work home depending on which field you are working in.
-great hours
-6 years of schooling
-great benefits
-less independence if you work in retail
-great pay 100,000 plus
-interesting drug interactions
-less work
-great if you want to spend more time with family
Cons
-chemistry involved I hate chemistry- more a biology person
-math-calculations( I don't like that too much either)
-In retail, you get yelled at, not much respect :/
-can be repetitive and more work on the mind
-standing

Dentistry in my opinion
Pros
-hands on, direct impact
-I like operating with hands and working in mouths
-I like working with tools and instruments-room for artistic vision
-business aspect
-better pay
-more respected maybe?
-less yelled at
-sitting
-more independence
-for me, I think I will be more passionate here
Cons
-smelly breaths
-inflicting pain
-more work
-malpractice insurance rates
-more independence!-most dentists start their own practice
(Does anyone know of dentists getting hired by a company or a hospital and what they specialize in if any/what types of doctors usually do this/ and their salary/benefits?)
-more schooling-8 some require residency so plus 1 year(correct me if I am wrong or missing any more extra years or any extra requirements?) if you want to specialize
-setting up own business, dealing with finance, insurance, office/location, gaining clients
-more rigorous
-probably be 3 years older than if you were to do pharmacy to actually be in practice and start making money so maybe 26(correct me if I am wrong).


I am leaning towards dentistry a lot but the fact that I am in pharmacy school is setting me back :/ I don't know what to do....

 

[delano2000]

Haha I am debating between pharmacy and dentistry as well.

Pharmacy in my opinion
Pros
-stable, clean
-no need to bring work home depending on which field you are working in.
-great hours
-6 years of schooling
-great benefits
-less independence if you work in retail
-great pay 100,000 plus
-interesting drug interactions
-less work
-great if you want to spend more time with family
Cons
-chemistry involved I hate chemistry- more a biology person
-math-calculations( I don't like that too much either)
-In retail, you get yelled at, not much respect :/
-can be repetitive and more work on the mind
-standing

Dentistry in my opinion
Pros
-hands on, direct impact
-I like operating with hands and working in mouths
-I like working with tools and instruments-room for artistic vision
-business aspect
-better pay
-more respected maybe?
-less yelled at
-sitting
-more independence
-for me, I think I will be more passionate here
Cons
-smelly breaths
-inflicting pain
-more work
-malpractice insurance rates
-more independence!-most dentists start their own practice
(Does anyone know of dentists getting hired by a company or a hospital and what they specialize in if any/what types of doctors usually do this/ and their salary/benefits?)
-more schooling-8 some require residency so plus 1 year(correct me if I am wrong or missing any more extra years or any extra requirements?) if you want to specialize
-setting up own business, dealing with finance, insurance, office/location, gaining clients
-more rigorous
-probably be 3 years older than if you were to do pharmacy to actually be in practice and start making money so maybe 26(correct me if I am wrong).


I am leaning towards dentistry a lot but the fact that I am in pharmacy school is setting me back :/ I don't know what to do....

That is ultimately your decision. We can't make that one for you. Sounds like you are more passionate about dentistry than pharmacy.

 

[1ive2die]

i've analyzed both professions (among others) and myself. pharmacy suits me better than dentistry, but in the back of mind, every time i see someone in a really nice $100 000 car, i think to myself, "boy, i would love to drive that car," and then the urge to go to dentistry emerges once again. i wish i wasn't so shallow, but i can't help it when i a see a nice bmw 750i. i know myself and know i would make a great pharmacist and that i am legitimately much more interested in that profession (and would enjoy pharm school more than dental school). i like the pharmacy curriculum better than the dental one. But again, 1) $ keeps attracting me to dentistry, 2) along with the fact that i feel like i am not satisfying my aptitude and potential if i choose pharmacy over dental school, and 3) many of my friends are going or are in dental or med!

No offense but you sound like a complete tool.

 

[Sparda29]

Sorry for bringing up the teeth issue, but can you stand looking at teeth every single day? So definitely, like others said, get a job at a dentist's office or shadow a dentist in order to answer that question.

Not all pharmacists have to deal with angry customers. If you work in a hospital, there's a very low chance of people yelling at you. Good luck!

Nurses bitching that they can't find the meds, people coming down for STAT orders on something that doesn't need to be STAT.

 

[delano2000]

Nurses bitching that they can't find the meds, people coming down for STAT orders on something that doesn't need to be STAT.

So true and when you check the patients' bins, the stat meds are right there. Even some from a day ago or more.

 

[rxlea]

So true and when you check the patients' bins, the stat meds are right there. Even some from a day ago or more.

Or it is still sitting in the pneumatic tube. Nurses can be great, but they can also be annoying

 

[dudecoolname]

It would be awesome to fly one of these puppies.

Is that why you're a jets fan?

*Punch line drum*