What pays more?

[rphfan2009]

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I am wondering what pays more--being a clinical pharmacist or a retail pharmacist? I have heard that retail pays more and that clinical pharmacists usually get paid less (I heard that directly from a clinical RPh).

The reason that I am asking this is because I am an older student and will be 40 by the time I complete my PharmD and my finances will be severely strained by the time I get out of school. I orginially wanted to do a residency, but I just can't see it being feasible (economically). A lot of RPh's that I have talked to say go retail and that the residencies never pay off financially...

What do you all think? I'm looking for logical and business minded answers here--no lecturing me please 🙂

 

[aboveliquidice]

I am wondering what pays more--being a clinical pharmacist or a retail pharmacist? I have heard that retail pays more and that clinical pharmacists usually get paid less (I heard that directly from a clinical RPh).

The reason that I am asking this is because I am an older student and will be 40 by the time I complete my PharmD and my finances will be severely strained by the time I get out of school. I orginially wanted to do a residency, but I just can't see it being feasible (economically). A lot of RPh's that I have talked to say go retail and that the residencies never pay off financially...

What do you all think? I'm looking for logical and business minded answers here--no lecturing me please 🙂

Retail pharmacists make more, initially. However, there is a lower ceiling when it comes to retail. Clinical pharmacist (at least in the hospital setting - its debatable whether or not clinical should be labeled at all) start out at a lower wage. There is greater room to grow with hospital pharmacy in general. It should be noted however, it takes either a residency or experience to get these positions.

 

[eightonesix]

Pharmacists I've worked with have told me that yes retail makes more but they have more stress (correlation with more pay) in comparison to clinical. I'm sure that isnt the same for every situation, but his point being that... yeah he got paid less as a clinical pharmacist but did not have to deal with as much a hassle as retail pharmacists usually do as well as the tedious and long hours they work often being the only pharmacist there. The same clinic/hospital I worked at noted that clinical pharmacists had more room (just as aboveliquidice had said) to advance further up (even to admin and stuff) in comparison to retail.

If it all comes down to money, I suppose retail would be the way to go.

 

[SHC1984]

There is a CEILING in terms of salary in every job...unless you open your own business...so I would imagine hospital and retail both don't give much of a raise....I won't expect to make much more even after ten years...🙄

 

[UNMorBUST]

There is a CEILING in terms of salary in every job...unless you open your own business...so I would imagine hospital and retail both don't give much of a raise....I won't expect to make much more even after ten years...🙄

Accounting for inflation you will be making more i hope😀.

 

[aboveliquidice]

There is a CEILING in terms of salary in every job...unless you open your own business...so I would imagine hospital and retail both don't give much of a raise....I won't expect to make much more even after ten years...🙄

Retail has less levels of management and upward growth. It is not raises I am referring to, but actual higher paying jobs. The ceiling in hospital pharmacy is higher than in retail (for most people).

Successful independents will of course make more...

 

[a runner]

According to this salary survey for 2008, it looks like clinical pharmacist salaries, on average, are right on par with retail salaries now:

http://www.pharmacyweek.com/job_seeker/salary/salary.asp?article_id=11810&etp=0

$53.10 retail vs. $52.95 clinical

Not much difference if you ask me. And in fact, it depends where you're located and the specific company, because in some areas (like northern california) hospitals such as Kaiser pay more than retail jobs. I would imagine that by the time we enter the work force, clinical jobs will actually pay more, but that's just my opinion.

 

[SHC1984]

Retail has less levels of management and upward growth. It is not raises I am referring to, but actual higher paying jobs. The ceiling in hospital pharmacy is higher than in retail (for most people).

Successful independents will of course make more...

I see, I heard retail pays more, but hospitals have better benefits! I know the dental insurance I have from Walgreens sucks...It would be nice if they covered everything and not just 50% of fillings 😡

 

[thephoenician88]

think of it this way....when you're 60 and starting to feel a little sluggish, you trip and fall, where would you rather be, in the hospital or in a retail setting...granted the hospital would throw you in an elevator and ship you right out haha.

 

[sandytoes]

Retail definitely pays more. It's also much more stressful and tiring (standing all day, working overnight shifts, not getting lunch breaks on busy days, etc.), so it's up to you.

 

[Pharmacyy]

I am wondering what pays more--being a clinical pharmacist or a retail pharmacist? I have heard that retail pays more and that clinical pharmacists usually get paid less (I heard that directly from a clinical RPh).

The reason that I am asking this is because I am an older student and will be 40 by the time I complete my PharmD and my finances will be severely strained by the time I get out of school. I orginially wanted to do a residency, but I just can't see it being feasible (economically). A lot of RPh's that I have talked to say go retail and that the residencies never pay off financially...

What do you all think? I'm looking for logical and business minded answers here--no lecturing me please 🙂

LOGICAL AND BUSINESS MINDED ANSWER= If you want the $$$ go into Retail, enough said

 

[krystal2812]

Think about which one you want to do for the rest of your life is more important than your paycheck.

 

[trailrider400]

haha both of them pay more than I'm making now!!

 

[IrishRxMan]

The pay depends on the need. Right now, in south Texas you can make a killing working just a few weekends a month because the area is so deficient of pharmacists. Working in a hospital doesn't mean you will be a clinical pharmacist. You can be just a staff pharmacist that works in the dispensary. Clinical pharmacists are the ones walking the floors directly assisting doctors and the medical teams with drug therapy management/adjustment. The professors at my school have said there are about 5 clinical jobs for my entire class of about 90.

If you really, truly want to make money more than anyone go independent and own your own pharmacy. Right now the average yearly pay for an independent is $250K. When you get into pharmacy school, join NCPA. They have programs where you can buy an existing pharmacy over 5 years from a retiring independent so you don't have to try to start from scratch. You already have a location with regular customers.

You can add on services that you see will be needed in your community that the retiring pharmacist didn't want to get into so close to retirement. Compounding is a no brainer but you can add on something else like diabetes management, cholesterol screening/management, etc. You're not diagnosing, but helping to manage their disease. You're easier to access than their doctor and you give them more than 10 minutes at a time. Plus, you're your own boss. You make the rules and are better equipped to care for people. I can't tell you how many times I've heard of people walking away from a big chain without being helped due to the sheer load of people getting their prescriptions filled there.