projected salaries

[badxmojo]

i read somewhere the past two years the salaries of pharmacists on average have gone up 6,000 dollars a year.. i'm start pharm school this year.. will be done in 4 years what you guys think the salaries will be by then? think it will keep on rising at this pace? right now i'm guessing the average is 80,000 hospital 85,000 retail..so if this keeps up in 4 years the averagew ill be 104,000..sounds nice to me..but to good to be true. what you guys think?

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[TC714]

badxmojo,

The problem is we can't predict the future. Never know what will happen in 4 more years. Just take a step back at IT guys in the past 4 years ago. I still remember around the end of '98 and early '99, a 4yr degree of IT can make you big big bucks. Students got out have plenty of jobs offered and the salary is a always above 45K. Some good companies even offered a new graduate for 60K. Wow! That's sure a good payoff! How about now? One IT job, at least 100 applicants, even more than...so you never know...

Just study hard, do well in school and hope for the good luck...
Peace.

 

[rutpharm]

I remember when I started school in 1998 the salary we were thinking about was wow 60,000 in retail. Now the landscape has changed my classmates snicker at 80,000 for retail.

 

[Brill]

I've seen salary trend data for pharmacists in the state of Texas dating back to ~1975. The average base salary increased ~16% every two years so in another 4 years if that trend continues the salaries should have increased to ~115k (given a current average base salary of ~85k). That seems like a big increase to me, but that's what the trend has been the past 25 years. Of course, there is the cost of inflation over those years also, but that's pretty good considering that salaries in many fields have either decreased or remained stagnant relative to the cost of inflation.

 

[Kovox]

UMB Pharm students:

Offered 4 jobs per student before they've graduated
Average Salary - 85k

 

[badxmojo]

hmm 115G's..not bad.. not bad.... maybe we should make some sort of pool..and in 4 years who ever is closest gets 50$ ;-)

kovox are you going to UMB?

 

[asdasd]

Folks,

I believe the average income for a future RX graduate will be around 100K if the trend of shortage is still going well like now. But again, it heavily depends on where you work, also. Some pays higher than others.

 

[Heyyyyy]

$100K sounds very tempting.

 

[rxdude]

While it's fun to dream about making 80k, 100k and so on, let's look at some figures posted on the U.S. Department of Labor website.


Median annual earnings of pharmacists in 2000 were $70,950. The middle 50 percent earned between $61,860 and $81,690 a year. The lowest 10 percent earned less than $51,570, and the highest 10 percent, more than $89,010 a year. Median annual earnings in the industries employing the largest numbers of pharmacists in 2000 were as follows:

Department stores $73,730
Grocery stores 72,440
Drug stores and proprietary stores 72,110
Hospitals 68,760

source: http://www.bls.gov/oco/ocos079.htm

 

[LVPharm]

Originally posted by rxdude
While it's fun to dream about making 80k, 100k and so on, let's look at some figures posted on the U.S. Department of Labor website....

Yeah, it goes to show you how much salaries have increased since those 2000 statistics.

Salaries will continue to go up because:

• there will continue to be a shortage of pharmacists despite the increase in student enrollment and number of pharm schools (and because of pharmacists retiring from full-time practice)
• there will be an increase in patient population (baby boomers aging)
• there will be an increase in the number of drugs on the market
• the increase in consumer drug advertising ("I want the new purple pill") has resulted in this: 4 out of every 5 patients who visit a doctor leave the office with a prescription
• chains are building more pharmacies with the full expectation of a medicare prescription drug benefit becoming available

 

[Modnar]

Originally posted by rxdude
While it's fun to dream about making 80k, 100k and so on, let's look at some figures posted on the U.S. Department of Labor website.

Ya know what? You're talking to someone who only makes $20K now. The thought of "only" making $50 - 70K a year doesn't bother me.

 

[badxmojo]

rxdude..i'm not sure what your point was.. but those stats were from two years ago..and the salaries have jumped up quite a bit since then.. those stats are helpful.. i think a better more update way of estimating current salaries are going on job search websites like monster.com.. in those i'm routinely seeing positions starting at 80,000.. and i even saw one posting for a position in arizona for 115K! I started looking at salaries last october..and they've virutually been rising day by day.
i think pharm grads shouldn't shy away from those +80K dreams.. hell i need those dream to help me get through the next four years.

 

[chitowngyrl]

Please don't get me excied about money because I am so broke it is pathetic I can't wait to get out of school and finally make some money. At this point, I wouldn't care how much I was making....just show me the money!!!!!

 

[rxdude]

I only posted those statistics for information purposes. I agree that those figures have increased significantly since the year 2000. Also, I spoke with 2 pharmacists at Albertsons here in Cali and I asked them, "How much should I expect to make coming out of pharm. school." Their reply, "Don't take less than $100,000, in addition to a sign-on bonus." Is that cool or what?

 

[badxmojo]

indeed it is! rxdude! i know cali has some of the highest salaries in the nation.. i've noticed there salaries are about 5-10K's more than east coast...other than florida.. i know cali has some high state income taxes though and cost of living is incredible ( one of the reasons i'm leaving new york)..

 

[asdasd]

Keep dreaming guys....life isn't always as we expect...it's good to dream on...
young kids always have big dreams...until they realize they're old, and their dreams are still a shadow...

 

[badxmojo]

hmm not really sure what that was supposed to mean..

 

[Triangulation]

Median annual earnings of pharmacists in 2000 were $70,950. The middle 50 percent earned between $61,860 and $81,690 a year. The lowest 10 percent earned less than $51,570, and the highest 10 percent, more than $89,010 a year. Median annual earnings in the industries employing the largest numbers of pharmacists in 2000 were as follows:

Department stores $73,730
Grocery stores 72,440
Drug stores and proprietary stores 72,110
Hospitals 68,760

I'm not sayin those stats are incorrect, but I know not one pharmacist who makes less than $90K not including sign bonus.

 

[Triangulation]

Originally posted by chitowngyrl
Please don't get me excied about money because I am so broke it is pathetic I can't wait to get out of school and finally make some money. At this point, I wouldn't care how much I was making....just show me the money!!!!!

I hear that. I actually have an aversion to rich people, but it sucks having no dough all the time. I'm not a money fiend, but it does allow you to have things, and I'm BIG into things.

 

[rutpharm]

don't get me started guys and gals, with just one year left I can almost see the light at the end of the tunnel.....