Walgreens is offering up to $75,000 to recruit pharmacists amid shortage

[TranslationalRPh]

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I saw the following article and was curious about your thoughts.​

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By Sarah Rumpf

Pharmacists are in such high demand that Walgreens is offering a hefty signing bonus of up to $75,000.

The Wall Street Journal reported Thursday that typically Walgreen signing bonuses are around $30,000 or $50,000. But due to pandemic-related staffing challenges, the signing bonus can be up to $75,000 in certain markets across the U.S.
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"This is one of many steps to address pharmacy staffing in some areas, in order to best meet the needs of our customers and patients, as well as recognizing our current pharmacy staff for their hard work and dedication," Walgreens said in a statement to Fox News.

However, new hires are required to stay on the job for at least a year to receive the bonus.

The median annual salary for pharmacists was $128,570 in 2021, according to the U.S. Bureau of Labor Statistics.

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[WorthlessOxygen]

The bonus amount doesn't really surprise me all that much but only requiring a 1-year commitment?

 

[projektreverb]

The bonus amount doesn't really surprise me all that much but only requiring a 1-year commitment?

Agreed. The desperation is increasing but not at a tipping point.

 

[DH1987]

They'll give a rando $75,000, but my reward for staying there 6 years is a $2.55 raise...

Guess I should be glad I even got that.

 

[rxkrafted]

Hmm that "UP to" is sending mixed signals. Since it requires only a 1-year commitment, I bet it's like 75K spread across 7-8 years or something and guarantee like a 10K bonus the first year.

 

[Dred Pirate]

They'll give a rando $75,000, but my reward for staying there 6 years is a $2.55 raise...

Guess I should be glad I even got that.

you should push for a retention bonus - or leave- eckerd use to do that, but only when people pushed for it

 

[Lexington2012]

Even with the bonus, it is still not worth it to work at WAG.

 

[quickpic007]

They'll give a rando $75,000, but my reward for staying there 6 years is a $2.55 raise...

Guess I should be glad I even got that.

its 75k for 2 years
Whats your rate?
Lots of rphs across the nation now are 70+ per hour.(not as impressive if you think on inflation)
You need to jump companies to get big raises, or if you can finesse, jump districts.

 

[DH1987]

its 75k for 2 years
Whats your rate?
Lots of rphs across the nation now are 70+ per hour.(not as impressive if you think on inflation)
You need to jump companies to get big raises, or if you can finesse, jump districts.

Currently $60.55/hr in the midwest. I just did an interview with a long term care facility that seemed to go well, and they asked me what I wanted to start at - I said $65/hr. Haven't heard back...

But yeah...aren't the 70+/hr guys in high COL areas?

 

[Sunshine98*]

Its a trap dont do it. try to find quality if you can, if its still left in this profession. Your sanity will thank you later.

 

[Dred Pirate]

Currently $60.55/hr in the midwest. I just did an interview with a long term care facility that seemed to go well, and they asked me what I wanted to start at - I said $65/hr. Haven't heard back...

But yeah...aren't the 70+/hr guys in high COL areas?

Most of them. I am on a medium col area and make over $70 but that is simply due to seniority. Our new guys and gals are mid 50’s with a 2 year residency. Not sure what our operations rphs with no residencies start at.

 

[WorthlessOxygen]

But yeah...aren't the 70+/hr guys in high COL areas?

I'm in a pretty cheap area and made it to 70 before quitting. Was PIC at a busy hard to staff store (and actually liked it) though.

 

[rph3664]

My BFF was fired by Wags about 15 years ago, and they're trying to recruit him back!

 

[mentos]

This is just going to encourage more prepharms to get a pharmD.

 

[Dred Pirate]

This is just going to encourage more prepharms to get a pharmD.

that is part of their intent - then they can keep salaries down once this temporary lack of rph's passes

 

[RxPreceptor]

They'll give a rando $75,000, but my reward for staying there 6 years is a $2.55 raise...

Guess I should be glad I even got that.

Couldn’t agree more how polarizing this is for those who’ve been committed…it’s just a slap in the face.
The few on boards I’ve worked with getting sign on bonuses have been like working handicapped…like I’m essentially a live IT tutorial for them. The sentiment has enticed me to either switch jobs entirely or renegotiate/threaten to quit when circumstances are dire (filling so many extra shifts then quitting would be quite catastrophic just keeping stores open)

 

[DH1987]

The sentiment has enticed me to either switch jobs entirely or renegotiate/threaten to quit when circumstances are dire (filling so many extra shifts then quitting would be quite catastrophic just keeping stores open)

I know there at least a few pharmacists who are doing this. One came over from Kroger for a sign on bonus. Two of ours went to CVS - one of them went there for a $25,000 sign on bonus...then came back to Wag shortly after for the $75,000 sign on bonus. It's preetttttyyyyy absurd.

 

[Elephant101]

For which area?

 

[workingfarmer]

Yeah but you are expected to finish work without any OT so that bonus is your OT....smh

 

[BidingMyTime]

"Selected markets" is the key....they are paying bonuses for stores in areas where nobody wants to live. A great deal if you want to live in an area that nobody else wants to live in.

 

[mentos]

How likely would it be for Wags to fire these Rphs right before the 1 year mark?

 

[bigpilllilpill]

The bonus amount doesn't really surprise me all that much but only requiring a 1-year commitment?

its two years

 

[bigpilllilpill]

How likely would it be for Wags to fire these Rphs right before the 1 year mark?

i wonder this too/ cant they just fire before the two years are up to keep their bonus

 

[quickpic007]

Currently $60.55/hr in the midwest. I just did an interview with a long term care facility that seemed to go well, and they asked me what I wanted to start at - I said $65/hr. Haven't heard back...

But yeah...aren't the 70+/hr guys in high COL areas?

I am above 71/hr in rock bottom cost of living area. small livable homes list under 80k still but go fast.

both albertsons and walgreens are at 75k for select markets for a sign on. WG is confirmed only 2 years. The total comp for these WG manager spots cracks 200k (and its not even high COL areas), and rph talk like they are still too good to work there. its outrageous.

 

[projektreverb]

I am above 71/hr in rock bottom cost of living area. small livable homes list under 80k still but go fast.

both albertsons and walgreens are at 75k for select markets for a sign on. WG is confirmed only 2 years. The total comp for these WG manager spots cracks 200k (and its not even high COL areas), and rph talk like they are still too good to work there. its outrageous.

While your math checks out, Walgreens would be sleezy enough to make up a reason to fire you a day short of the two years. “Ope you didn’t offer a shingrix to that one old lady 6 months ago, that’s against policy 12576 subsection 265, buh bye and btw pay us back your bonus!” It’s not that people are too good to work, it’s that we know these chains are ripe with deceptive tactics that ensure they’ll win in the end.

 

[WorthlessOxygen]

While your math checks out, Walgreens would be sleezy enough to make up a reason to fire you a day short of the two years. “Ope you didn’t offer a shingrix to that one old lady 6 months ago, that’s against policy 12576 subsection 265, buh bye and btw pay us back your bonus!” It’s not that people are too good to work, it’s that we know these chains are ripe with deceptive tactics that ensure they’ll win in the end.

Aren't the bonuses usually pro rated if you leave before your term is up?

 

[projektreverb]

Aren't the bonuses usually pro rated if you leave before your term is up?

I’m going to guess no but can’t state it with certainty. And you’re also getting taxed on this bonus. So you’re taking a hit anyways right out the gate.

 

[WorthlessOxygen]

I’m going to guess no but can’t state it with certainty. And you’re also getting taxed on this bonus. So you’re taking a hit anyways right out the gate.

I don't know about Walgreens but that's the way Rite Aid handles it at least. Usually paid out/tied to 2-4 installment dates.

If you give up the bonus (or part of it) you get the taxes back. We've had discussions on it here a few times.

 

[Dred Pirate]

Aren't the bonuses usually pro rated if you leave before your term is up?

usually not, I negotiated one 15 years ago when I knew I wouldn't be at the hospital for a full three years - but needed the money to pay off the 3 year commitment I had at a previous job.

 

[projektreverb]

I don't know about Walgreens but that's the way Rite Aid handles it at least. Usually paid out/tied to 2-4 installment dates.

If you give up the bonus (or part of it) you get the taxes back. We've had discussions on it here a few times.

But you’re not getting them instantly (?)

 

[sozetone]

I realize iv'e been offline a while, but WHEN DID PHARMS BECOME HIGH DEMAND/SHORT SUPPLY? did i miss something in the last 3 years. lol....thats NOT the reason for the bonus. Most likely no one will work . period. They are burning everyone out like all the rest and pharms are fed up and leaving.

 

[projektreverb]

I realize iv'e been offline a while, but WHEN DID PHARMS BECOME HIGH DEMAND/SHORT SUPPLY? did i miss something in the last 3 years. lol....thats NOT the reason for the bonus. Most likely no one will work . period. They are burning everyone out like all the rest and pharms are fed up and leaving.

We’re not in short supply. The amount of us willing to slave away for retail is in short supply.

 

[Hello2000]

Why don’t wag and cvs save the $75k by making conditions better and hiring extra support staff. Happy staff are way more productive.

 

[Script1992]

This is just going to encourage more prepharms to get a pharmD.

the issue is the market might flip when pre-harms graduate.

 

[mentos]

Why don’t wag and cvs save the $75k by making conditions better and hiring extra support staff. Happy staff are way more productive.

Because 75k is a one time expense. If you add more staff then that's more benefits, raises, bonuses etc that they have to pay for long term.

 

[Secret_Informant]

This is just going to encourage more prepharms to get a pharmD.

Yes...in the most wrong way possible.

It simply brings back the idea that if you get a PharmD, the cash will flow, a false assumption that is still marketed to this day. I am greatly upset, but I am not surprised in the least. Most pharmacists will not last 1-year to earn the sign-on bonus and the stakeholders know this. Or, once they receive it and pay their major expenses (student loans, mortgage, education in another area of pharmacy or a career change), they're gone.

Out of retail and into somewhere else, but the company still stands and the applications for PharmDs keep rolling in (and of course for pharmacist jobs as well).