Which Pharmacy Make a lot of money

[WorcesterPHOBoy]

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Retail? Nuclear Pharmacist, Teaching, hmm any other pharmacist out there?

 

[kwakster928]

even though you will make comfortable living as a pharmcist (hope it stays this way) but tying to get into profession school and first you think about is who makes the most is the wrong way to go. you must realize what fits your life style and interest. yes money plays a big roll but shoulnd't be the first. but as far as answering your question goes. I dont have a clue. IT DEPENDS.

 

[WorcesterPHOBoy]

even though you will make comfortable living as a pharmcist (hope it stays this way) but tying to get into profession school and first you think about is who makes the most is the wrong way to go. you must realize what fits your life style and interest. yes money plays a big roll but shoulnd't be the first. but as far as answering your question goes. I dont have a clue. IT DEPENDS.

I am in a situation i have no choice but main job is making MONEY and stability and get out school as soon as possible. I have to support my family. I am only 20 years old but my parents are very old and their jobs are involve in heavy things so i wanna able to get out and help them quicker. I an an immigrant. My dream job is to be a CEO but business u have to work ur way up when u got ur degree so long to make big money

 

[ooscubaoo]

I hope you say that in your interview

 

[twester]

. . . big money. . .

Big money is relative. Your idea of big money may not be my idea of big money. You'd probably do better financially to go to medical school. Two MDs I know (both psychiatrists) entered post-residency positions at $125K per year. Six years later, one is earning about $200K and another about $300K per year (the former went with semi-public work and the latter is in a combination of private and forensic practice). Both are now out of debt and living (by my standards) extravagant lifestyles.

If your dream is to be a pharmacist, then you might have to be happy with mediocre big money.

Best regards,
Troy

 

[vicky336]

what about a pharmacuetical rep?

you earn like $300K. it doesn't take a phD but it does take good business, communication, and people skills.

you're just like wining and dining doctors.

 

[unoriginal]

what about a pharmacuetical rep?

you earn like $300K. it doesn't take a phD but it does take good business, communication, and people skills.

you're just like wining and dining doctors.

hahahah.... right. the avg salary is far lower. they are doing good if they break 100k.

http://sales.thingamajob.com/jobs/Maryland/Pharmaceutical-Sales-Rep/715469

 

[ndearwater]

I am in a situation i have no choice but main job is making MONEY and stability and get out school as soon as possible. I have to support my family. I am only 20 years old but my parents are very old and their jobs are involve in heavy things so i wanna able to get out and help them quicker. I an an immigrant. My dream job is to be a CEO but business u have to work ur way up when u got ur degree so long to make big money

Well I hope that you realize pharmacy school will put you into serious debt, especially when your family is in no financial position to help you out in that respect. After four years of going into debt, you will spend a few more getting out. Seeing as how, according to you, your parents are already "old", you may want to consider a different get-rich-quick scheme.
(I thought you were 19.)

 

[WorcesterPHOBoy]

Well I hope that you realize pharmacy school will put you into serious debt, especially when your family is in no financial position to help you out in that respect. After four years of going into debt, you will spend a few more getting out. Seeing as how, according to you, your parents are already "old", you may want to consider a different get-rich-quick scheme.
(I thought you were 19.)

I just turn 20 in September. I will be in debt for 30 years, I work but spend 50% of my paycheck and the rest 30% to pay loans and 20% for saving, i just pay it slowly even tho i now interest rate is killing me but for my parents living comfortable i am willing to do anything...I used to be a bad boy but my parents has changed my life with their big sacrficice, i wont share that one but that thing motivate me to study hard and become rich soon

 

[WorcesterPHOBoy]

I hope you say that in your interview

Well i mention it in my personal statement that my parents are the one who motivate me in the career of pharmacy, i have nothing to hide, and i think the story i wrote it is very emotional. My first time seeing my dad is coming to America =) when i was little

 

[rxforlife2004]

I am in a situation i have no choice but main job is making MONEY and stability and get out school as soon as possible. I have to support my family. I am only 20 years old but my parents are very old and their jobs are involve in heavy things so i wanna able to get out and help them quicker. I an an immigrant. My dream job is to be a CEO but business u have to work ur way up when u got ur degree so long to make big money

I am sure your parents won't feel happy if they read this...Sure, it's kind of u to think for your parents, but i am sure ur parents won't just want their children suffering at doing something either...

 

[panadacoke]

I understand how you feel but then...I don't feel you have passion in Pharmacy.

 

[bdyoon]

C'mon guys...give this guy a break. 🙂
I think he is very sincere and wants to see his parents less burdened for their remaining years. Just because he wants (or needs) to earn much needed money ASAP, it doen't necessarily mean he may not be passionate about the field. He may want to sacrifice HIS choice in jobs (within pharmacy) for a while until his family is stable financially and may pursue what he wants to afterwards, (again withing pharmacy industry), assuming he does have the initial interest/passion for it, which I'm pretty sure he does because who in the world would want to put in so much time in studies solely for the money?? They must already have some sort of interest for the field.

Sometimes one has to put his passion aside for his loved ones.

 

[TyrannosaurusRx]

Retail? Nuclear Pharmacist, Teaching, hmm any other pharmacist out there?

Well, unlike most of the people who have responded, I'll actually try to answer your question.

If you're looking to get a job right out the gate from pharm school and make the most money you can, do retail. Also, you should look into the educational assistance programs provided by the big pharmacies. An example is the one provided by Walgreens (http://www.walgreens.com/about/careers/pharmacy/eduassistprg.jsp). This can help you pay for pharmacy school too, and it sounds like it would be perfect in your situation.


As for the people who think he can't do this for a career if he doesn't have passion for it... work used to be, almost by definition, something you didn't particularly enjoy but did anyway to support yourself and your family. What about those of you on this board who wanted to do something other than retail but ended up doing it anyway to pay off loans? This whole loving your career thing is a pretty modern invention. You do what you gotta do. Some of my family in Michoacán, Mexico would absolutely love to have the opportunity to make $80k+/yr, regardless of whether or not they enjoyed the work. Lord knows most of them don't get great career satisfaction working at the family-owned butcher shop.

 

[WorcesterPHOBoy]

C'mon guys...give this guy a break. 🙂
I think he is very sincere and wants to see his parents less burdened for their remaining years. Just because he wants (or needs) to earn much needed money ASAP, it doen't necessarily mean he may not be passionate about the field. He may want to sacrifice HIS choice in jobs (within pharmacy) for a while until his family is stable financially and may pursue what he wants to afterwards, (again withing pharmacy industry), assuming he does have the initial interest/passion for it, which I'm pretty sure he does because who in the world would want to put in so much time in studies solely for the money?? They must already have some sort of interest for the field.

Sometimes one has to put his passion aside for his loved ones.

Thank you for understanding. I am a little interest in pharmacy but not all passionate about it because I work as a technician over a year. I found Pharmacy is a good job(stablity, respected-Doctor degree, $$) but it is boring. I rather major in Family Doctor because I am young I think that field will suitable for me cuz I like to be respected. But on the other hand, without my parents teaching, I think i would be a drug dealer by now so their remaining years, I want them to live in the best comfortable life. In high school, my gpa was 2.4 and now in COmmunity COllege it is 3.74..big difference cuz my loveable parents 😳 , I think I used to be stupid but NO! I think everyone is smart as long as you work hard, and do not be shy to ask questions =) u will success in life! Agree!!?👍

Pharmacy Fall 2006! Baby!

 

[panadacoke]

Thank you for understanding. I am a little interest in pharmacy but not all passionate about it because I work as a technician over a year. I found Pharmacy is a good job(stablity, respected-Doctor degree, $$) but it is boring. I rather major in Family Doctor because I am young I think that field will suitable for me cuz I like to be respected. But on the other hand, without my parents teaching, I think i would be a drug dealer by now so their remaining years, I want them to live in the best comfortable life. In high school, my gpa was 2.4 and now in COmmunity COllege it is 3.74..big difference cuz my loveable parents 😳 , I think I used to be stupid but NO! I think everyone is smart as long as you work hard, and do not be shy to ask questions =) u will success in life! Agree!!?👍

Pharmacy Fall 2006! Baby!

I'm sorry if I sounded mean before. English is my second language and so I might expressed myself in the wrong way. All I want to say is, you have the capability. So even if you don't do pharmacy, I'm sure you'll be successful when you work hard.

 

[ethyl]

I was under the impression that drug reps had the potential to make up to $200,000 or more a year. Usually that type of figure is restricted to pharmD's or MD's that are qualified enough to actually know what they're talking about when presenting to physicians, right? I'm not talking about the average joe salesmen that just flashes a graph whenever a physician asks about a mechanism or other detailed question.... and points and says "see this! this is our drug's bar graph... it's so much higher than the competition!" --- these type of idiotic drug reps visit my friend's practice often. 😳

 

[bdyoon]

Well, unlike most of the people who have responded, I'll actually try to answer your question.

If you're looking to get a job right out the gate from pharm school and make the most money you can, do retail. Also, you should look into the educational assistance programs provided by the big pharmacies. An example is the one provided by Walgreens (http://www.walgreens.com/about/careers/pharmacy/eduassistprg.jsp). This can help you pay for pharmacy school too, and it sounds like it would be perfect in your situation.


As for the people who think he can't do this for a career if he doesn't have passion for it... work used to be, almost by definition, something you didn't particularly enjoy but did anyway to support yourself and your family. What about those of you on this board who wanted to do something other than retail but ended up doing it anyway to pay off loans? This whole loving your career thing is a pretty modern invention. You do what you gotta do. Some of my family in Michoacán, Mexico would absolutely love to have the opportunity to make $80k+/yr, regardless of whether or not they enjoyed the work. Lord knows most of them don't get great career satisfaction working at the family-owned butcher shop.

Well said.

 

[FungManX]

Guys seriously.

This guy is just like the rest of the pre-pharm people (at least 99% of us). I can garauntee that if you take away the doctorate and the salary, and are stuck with the job you will probably not have chosen it in the first place. This is the case in Canada (Especially at UBC/UToronto). Everyone in the pharm classes know that they are set up for a great paying profession, but how many people actually want to BE pharmacists? About 5-10% of the entire Pharmacy student body. Those 5-10% consist of people that are too lazy to continue education into medicine OR they are the people genuinely interested in clinical care and research for medicine.

Seriously go and visit a class in UBC Undergrad Pharm. Most of them are still pre-med's.

Think long and hard. I know I did. I will NEVER like retail pharmacy, clinical pharmacy is OK, but in the end, I find that people in the states are just in it for the title and for the pay.

After 20 years in the field, you will realize that a job is a job.
Job satisfaction from dispensing drugs over the counter? give me a break.

If you seriously want job satisfaction in healthcare, go the nursing or med route. You'll be with patients one on one. Sure you won't have the title as a nurse.. or even the pay (in some cases), but job satisfaction in knowing you did something good for someone? Definately.

The pay is blinding everyone right now.. and I think thats what is wrong with healthcare in this day and age. Taking on a lower paying job like nursing would definately increase meaning to your job, and most importantly to your life.

Anyway, you can see that my mind has been set on nursing for a while .. I was considering pharmacy for the longest time as a pre-med education and as a backup, but I realized that IF I don't make it into med, I will not be satisifed with my career as a pharmacist for the sole reason of not being able to help out in my community more directly.

 

[cheesygal]

Guys seriously.

Think long and hard. I know I did. I will NEVER like retail pharmacy, clinical pharmacy is OK, but in the end, I find that people in the states are just in it for the title and for the pay.

After 20 years in the field, you will realize that a job is a job.
Job satisfaction from dispensing drugs over the counter? give me a break.

If you seriously want job satisfaction in healthcare, go the nursing or med route. You'll be with patients one on one. Sure you won't have the title as a nurse.. or even the pay (in some cases), but job satisfaction in knowing you did something good for someone? Definately.

Quite the contrary. For the most part, I don't think people are in it for the money. Maybe it's because I'm part of the modern generation that emphasizes in doing what you love and loving what you do. Yes, I do agree with you that a job is a job and that we all want to get paid. We all want to be able to enjoy the little luxuries that life can offer and money is what lets us experience these luxuries. And I'm sure that all of us here want to force our parents into a luxurious retirement. Heck, for all the hard work my parents have done for me, I know I do. If someone is in pharmacy for the money, well, it's ANOTHER 4 years of schooling, possibly even another couple of years for residency, and don't forget the debt you'll be in when you come out. If money was my sole focus, I would have gone into another field.

I respect that you believe job satisfaction is in nursing/med. However, don't forget about pharmacy. The role of pharmacists is changing. Maybe in the past, the stereotype of a pharmacist was a pill dispenser. Nowadays, they do so much more. Sure they dispense drugs - but they make sure that the right amount and quantity is being given out. There is definitely job satisfaction in pharmacy and there is patient interaction (drug therapy, disease state management, etc). I think it's also what you make of it. If you choose to stand in the corner and count your pills, fine. But if you choose to go out there and talk to patients about their meds, make sure they know how to use them, etc, then there is job satisfaction.

Anyway, that's my 2 cents.

 

[Smilescali]

Quite the contrary. For the most part, I don't think people are in it for the money. Maybe it's because I'm part of the modern generation that emphasizes in doing what you love and loving what you do. Yes, I do agree with you that a job is a job and that we all want to get paid. We all want to be able to enjoy the little luxuries that life can offer and money is what lets us experience these luxuries. And I'm sure that all of us here want to force our parents into a luxurious retirement. Heck, for all the hard work my parents have done for me, I know I do. If someone is in pharmacy for the money, well, it's ANOTHER 4 years of schooling, possibly even another couple of years for residency, and don't forget the debt you'll be in when you come out. If money was my sole focus, I would have gone into another field.

I respect that you believe job satisfaction is in nursing/med. However, don't forget about pharmacy. The role of pharmacists is changing. Maybe in the past, the stereotype of a pharmacist was a pill dispenser. Nowadays, they do so much more. Sure they dispense drugs - but they make sure that the right amount and quantity is being given out. There is definitely job satisfaction in pharmacy and there is patient interaction (drug therapy, disease state management, etc). I think it's also what you make of it. If you choose to stand in the corner and count your pills, fine. But if you choose to go out there and talk to patients about their meds, make sure they know how to use them, etc, then there is job satisfaction.

Anyway, that's my 2 cents.

I agree. Additionally, pharmacists are well paid, but the average pharamcist doesn't make THAT much money. 100-150K (I believe this is even above average) a year in a lot areas barely buys you a nice house if you are just starting out and want to raise a family, save for retirement properly, and actually live life.

It is always nice to make decent money, but if that is one of the main reasons why you want to go to pharmacy school, then you are better off doing something else that will allow you to make TONS of money.

 

[kkelloww]

Another one of these threads.

I would like to add my older, admittedly cynical opinion to this thread.

Quite the contrary. For the most part, I don't think people are in it for the money. Maybe it's because I'm part of the modern generation that emphasizes in doing what you love and loving what you do. Yes, I do agree with you that a job is a job and that we all want to get paid. We all want to be able to enjoy the little luxuries that life can offer and money is what lets us experience these luxuries. And I'm sure that all of us here want to force our parents into a luxurious retirement. Heck, for all the hard work my parents have done for me, I know I do. If someone is in pharmacy for the money, well, it's ANOTHER 4 years of schooling, possibly even another couple of years for residency, and don't forget the debt you'll be in when you come out. If money was my sole focus, I would have gone into another field.

Of course they are in it for the money. If you line up 20 people, Pharmacists make more than 18 of them and more than 8 of them COMBINED. Ask those 18 people if 6 figures is big money. I must have missed the MAKE BIG MONEY section of the college catalog. Is that the major Dave Thomas took after he dropped out of High School? Do they teach you to be the CEO of a large corporation? Or to create innovative Internet search technology? Of the 5% of people that make more money than pharmacists, most of them are MD's, business owners, CEO's and other business bigshots, some lawyers, or they were born to it. The fact is, pharmacy offers more bang for the school buck than just about any other profession and record numbers of people are trying to get into pharmacy. If it looks like a duck...

I especially love the "modern generation emphasizes blah blah blah and that's why I want to be a pharmacist" quote. Every kid since William the Conqueror wanted to do something that they love. Who wants to do something they hate? That's like saying the modern generation thinks the sky is blue. But then reality sets in after you take the job. In this instance, reality is you'll be pushing pills in a hospital or retail setting, generally to a bunch of nameless folks. And it's not a very satisfying job. At least that what current pharmacists are saying during job satisfaction surveys. But these guys don't quit because of...the money.

I spent 20 years in business building my career to a point where I made 3/4 of what a pharmacist starts at. Four years in college is NOTHING in terms of a commitment in an average career.

All commision-based jobs will always have the potential to make more money. If you are one of those people that have the rare gift of SELLING, you can make more money selling Avon than in pharmacy.

Finally, this is to the OP. I don't post much, but I read all of the posts. Is it too much to ask that when you post, you use English, preferably with puctuation and capitalization. This might be beneficial to you by providing some much-needed practice for your essays. This is, after all, a professional board and not some Miami Dolphins Football Forum. I'm not trying to be rude, just straitforward.

 

[WorcesterPHOBoy]

Another one of these threads.

I would like to add my older, admittedly cynical opinion to this thread.



Of course they are in it for the money. If you line up 20 people, Pharmacists make more than 18 of them and more than 8 of them COMBINED. Ask those 18 people if 6 figures is big money. I must have missed the MAKE BIG MONEY section of the college catalog. Is that the major Dave Thomas took after he dropped out of High School? Do they teach you to be the CEO of a large corporation? Or to create innovative Internet search technology? Of the 5% of people that make more money than pharmacists, most of them are MD's, business owners, CEO's and other business bigshots, some lawyers, or they were born to it. The fact is, pharmacy offers more bang for the school buck than just about any other profession and record numbers of people are trying to get into pharmacy. If it looks like a duck...

I especially love the "modern generation emphasizes blah blah blah and that's why I want to be a pharmacist" quote. Every kid since William the Conqueror wanted to do something that they love. Who wants to do something they hate? That's like saying the modern generation thinks the sky is blue. But then reality sets in after you take the job. In this instance, reality is you'll be pushing pills in a hospital or retail setting, generally to a bunch of nameless folks. And it's not a very satisfying job. At least that what current pharmacists are saying during job satisfaction surveys. But these guys don't quit because of...the money.

I spent 20 years in business building my career to a point where I made 3/4 of what a pharmacist starts at. Four years in college is NOTHING in terms of a commitment in an average career.

All commision-based jobs will always have the potential to make more money. If you are one of those people that have the rare gift of SELLING, you can make more money selling Avon than in pharmacy.

Finally, this is to the OP. I don't post much, but I read all of the posts. Is it too much to ask that when you post, you use English, preferably with puctuation and capitalization. This might be beneficial to you by providing some much-needed practice for your essays. This is, after all, a professional board and not some Miami Dolphins Football Forum. I'm not trying to be rude, just straitforward.

LOL, English grammar always change from year to year, so u dont know which one is used now and which one is fading away =). For example, Government suppose to be capitalize but nowadays, my English teacher or any other teachers do not even care =). Only my old high school History teacher care! Anyway I disagree with you, As long as you understand what we are saying then its all good. For instance, Dr. "starsweet - the one with 4 eyes puppy icon", she understands complete what i wrote after reading so many post of mine even though i know i sometimes make a mistake but she never complain hehe =) 👍


I want a career that make money fast within 3-4 years in college cuz my parents are aging i cannot wait no more 😡 ..The only career i can think is Pharmacy. It has been 2 yrrs i cannot think of any other field would make big money and finish quicker. I WANNA BE JUNIOR BILL GATE

 

[vicky336]

how about you forget pharmacy. become a financial analyst for like Goldman Sachs. work 60+ hours a week and earn $60K for like a couple years. then earn like $400k a year after that. it's stressful, time consuming, and laborous. but the $$$$

 

[marylandpharm]

how about you forget pharmacy. become a financial analyst for like Goldman Sachs. work 60+ hours a week and earn $60K for like a couple years. then earn like $400k a year after that. it's stressful, time consuming, and laborous. but the $$$$

I completely agree with you.

To WorchestorPHO:
During the four years that you spend accumulating debt, you could be working at an investment bank company or some other company in the busines sector and build yourself up to a ridiculously huge salary. A friend of mine (who will be graduating spring 2006) secured a starting salary at 75k, with room to go up to about 150-200k in two or three years. Just something to think about before you regret making a decision into going to pharmacy school.

Good luck with everything. Also, I suggest taking kkelloww's advice to use English with correct punctuation/grammer/etc. I think it'll help with your essays. Again, all that I'm saying is simply to help you. It's your call whether or not you want to listen.

 

[Jeddevil]

You right guys. I is in it for money am I. U rip my spanglish want all you, but I make $$$ big time after graduate school pharmacy easy school I go HICP in Hawaii where we surf day all. I make big $$$ school done when. I immigrant - so U change to me understand. Got it U?? I say did make big $$$$$$$ for mommy & daddy.

To answer your original question - GO RETAIL!!

 

[FungManX]

You right guys. I is in it for money am I. U rip my spanglish want all you, but I make $$$ big time after graduate school pharmacy easy school I go HICP in Hawaii where we surf day all. I make big $$$ school done when. I immigrant - so U change to me understand. Got it U?? I say did make big $$$$$$$ for mommy & daddy.

To answer your original question - GO RETAIL!!

Very mature.

You guys are telling this guy who has such bad english to go into the business world? Have a heart guys, you know he probably wouldn't last a second.
If anyone who was truely passionate about money, and they had the chance they WOULD probably take up the financial analyst job in a flash, but no, not everyone can do it because everyone that knows about that job probably wants that job. How do you expect this poor guy to make it in to a firm to get a CFA? or even a CPA? he can barely speak english.

Pharmacy really IS the easy way out. Sure you accumulate some debt (about 30 grand in Canada max; probably 100 grand in the states), but with proper financial planning, that debt can probably be paid off in about 2-3 years.

Smilescali: "I agree. Additionally, pharmacists are well paid, but the average pharamcist doesn't make THAT much money. 100-150K (I believe this is even above average) a year in a lot areas barely buys you a nice house if you are just starting out and want to raise a family, save for retirement properly, and actually live life."

100,000$/year isn't alot to you?
I recall the average salary in america was 20,000$/year or did I miss that extra zero somewhere?
Sure, it BARELY buys a nice house, but hell you still have a nice house!
BARELY enough to live life? My parents had a net income of 50,000$/year when they were still around (about 10 years ago) We still managed to "Live life" if by that you mean travelling etc, but obviously you didn't mean that because living life to you would mean earning over 100,000$?


This guy obviously has some problems with english, your telling him to go into a field where he can make "TONS" of money?
Come on guys, your pre-pharms/pharms you should be able to know how hard TONS of money is to come by.


I'm seriously surprised by how arrogant some people in this thread are

 

[dgroulx]

100,000$/year isn't alot to you?
I recall the average salary in america was 20,000$/year or did I miss that extra zero somewhere?
Sure, it BARELY buys a nice house, but hell you still have a nice house!

No, $100K isn't a lot of money. An average, crappy, new home in my area will run you about $280K. If you save up a hefty down payment, you could probably get something nicer. My husband makes about $100K in IT, and bought our house for $320K back when prices were low. Right now, we would have to combine our incomes ($200K) to afford our current house because of real estate appreciation. Home prices are even worse in California.

 

[usi]

No, $100K isn't a lot of money. An average, crappy, new home in my area will run you about $280K. If you save up a hefty down payment, you could probably get something nicer. My husband makes about $100K in IT, and bought our house for $320K back when prices were low. Right now, we would have to combine our incomes ($200K) to afford our current house because of real estate appreciation. Home prices are even worse in California.

I think we all have different ideas of what a lot of money is.
I heard about a year ago in a reputable show like Nightline, or something, that anybody making 55K or more a year, had all their basic needs taken care of. The rest is luxuries.
Now, consider that in the US, most of us want to own our home. That is not the case in the rest of the world. Same wih cars. Insurance, particularly, health insurance and the ballooning real state prices, is really making the American Dream harder to reach.
I think future generations are going to have to re-think what the American Dream really is. Hopefully, the ever-widening gap of the haves and the haves-not will not make for a really crapy future.
I am just afraid of being "possesed by my possesions" as I heard somebody out there say....

Get car, need insurance, need garage, need bigger house, need lawn maintenance, need bigger lawn mower, need shed, need extra lot and room for more stuff, so on and so forth.

BTW, I would love to make even close to 100K. I would feel like I am rich!

 

[ndearwater]

Yeah, considering I make less than $10 an hour now, anything close to $100K would feel like the jackpot to me. Maybe for those people who are coming to pharmacy school after leaving another career don't feel that the salary is all that high. But when you are just starting out and you go from about 15K/year to 80K/year or more- that is a lot of money.
My family and I have lived off much less for a long time, and it was enough.

 

[Smilescali]

Very mature.

You guys are telling this guy who has such bad english to go into the business world? Have a heart guys, you know he probably wouldn't last a second.
If anyone who was truely passionate about money, and they had the chance they WOULD probably take up the financial analyst job in a flash, but no, not everyone can do it because everyone that knows about that job probably wants that job. How do you expect this poor guy to make it in to a firm to get a CFA? or even a CPA? he can barely speak english.

Pharmacy really IS the easy way out. Sure you accumulate some debt (about 30 grand in Canada max; probably 100 grand in the states), but with proper financial planning, that debt can probably be paid off in about 2-3 years.

Smilescali: "I agree. Additionally, pharmacists are well paid, but the average pharamcist doesn't make THAT much money. 100-150K (I believe this is even above average) a year in a lot areas barely buys you a nice house if you are just starting out and want to raise a family, save for retirement properly, and actually live life."

100,000$/year isn't alot to you?
I recall the average salary in america was 20,000$/year or did I miss that extra zero somewhere?
Sure, it BARELY buys a nice house, but hell you still have a nice house!
BARELY enough to live life? My parents had a net income of 50,000$/year when they were still around (about 10 years ago) We still managed to "Live life" if by that you mean travelling etc, but obviously you didn't mean that because living life to you would mean earning over 100,000$?


This guy obviously has some problems with english, your telling him to go into a field where he can make "TONS" of money?
Come on guys, your pre-pharms/pharms you should be able to know how hard TONS of money is to come by.


I'm seriously surprised by how arrogant some people in this thread are

First of all I do not have a problem with the english language and I don't appreciate those comments as I try very hard to refrain from insulting others on this board. I would encourage you be polite when responding to comments that others share on this board as you will be better recepted. I grew up well below the poverty line on a farm, so I do know what is like to struggle and I am not an arrogant person at all nor do I think that I have implied that in any way. "TONS" of money is merely just a figure of speech that many people in the U.S. use. It is not meant to be taken literally (I can't believe I am explaining this! 🙂 )
The original poster said he was in the field primarily to make money ( yes he has good reasons). However, there has been many debates over this very issue in the past and many people say they are just in it for the money. My opinion is if you are trying to get rich (he stated he wanted to be a CEO of a company one day) then why don't you go into a field that will make you very rich and make "TONS" of money, yes I said "TONS" of money!!

I agree with dgroulx, housing prices are way out of hand and the cost of living keeps on going up and up. Making 100K often will not be enough in many areas. My husband and I live in San Diego where the median house price is around $550,000. You also have to pay property taxes, insurance, HOA, and mello-roos on top of paying the mortgage. We make about 250K combined as well (my husband is a pilot/ financial advisor and we own a business) and feel like we could not afford our house either if we had to purchase it today.

Oh by the way, the average salary in the US is around $40,000 a year.

Hope you have a better day 🙂

 

[Smilescali]

Yeah, considering I make less than $10 an hour now, anything close to $100K would feel like the jackpot to me. Maybe for those people who are coming to pharmacy school after leaving another career don't feel that the salary is all that high. But when you are just starting out and you go from about 15K/year to 80K/year or more- that is a lot of money.
My family and I have lived off much less for a long time, and it was enough.

I felt this way to when I was younger, before I bought my first house , started saving for my future and having a child. I thought 60K a year would be great and I thought that 100K was wealthy. It is a rude awakening when you make decent money and still fell like you are treading water. 😱

 

[KUMoose]

To be honest, your best bet is to get your degree/enter the work-force and move to middle America. Cost of living in say, Kansas City is a lot better then cost of living in Boston.

Work retail and either join one of the aforementioned retail company plans that buy off your debt at a set amount OR in a mom and pop shop, eventually you can own part (or all) of the business in a 7 to 10k person town. At that level you should be able to save a fair amount, not to mention that bartering still is fairly rampant in smaller towns.

 

[Smilescali]

I think we all have different ideas of what a lot of money is.
I heard about a year ago in a reputable show like Nightline, or something, that anybody making 55K or more a year, had all their basic needs taken care of. The rest is luxuries.
Now, consider that in the US, most of us want to own our home. That is not the case in the rest of the world. Same wih cars. Insurance, particularly, health insurance and the ballooning real state prices, is really making the American Dream harder to reach.
I think future generations are going to have to re-think what the American Dream really is. Hopefully, the ever-widening gap of the haves and the haves-not will not make for a really crapy future.
I am just afraid of being "possesed by my possesions" as I heard somebody out there say....

Get car, need insurance, need garage, need bigger house, need lawn maintenance, need bigger lawn mower, need shed, need extra lot and room for more stuff, so on and so forth.

BTW, I would love to make even close to 100K. I would feel like I am rich!

How about I need to secure my own finanicial future by actually saving a larger portion of my paycheck instead of relying on company pensions (which are going the way of the dinosaurs) and government S.S. in retirement. That is what people I feel don't understand completely. People are not saving enough and taking responsibility for their finances. I see it everyday in my business, people want and want everything to keep up with society.

If you make 100K a year and by a house that costs $300,000 (put 60K/ 20% down to avoid PMI)Your payments are going to be around $1,600 (based on competitive interest rates), now add property taxes and everything else you will be close to $2000 a month just in housing costs. That will be at least third of your income after taxes if you make 100K a year. That is if you have an extra 60K around to put down, if you don't then the payments will go up.

So if you are going to save for your future, own a house, have a kid or two 100K in many cases will not cut it.

 

[Smilescali]

To be honest, your best bet is to get your degree/enter the work-force and move to middle America. Cost of living in say, Kansas City is a lot better then cost of living in Boston.

Work retail and either join one of the aforementioned retail company plans that buy off your debt at a set amount OR in a mom and pop shop, eventually you can own part (or all) of the business in a 7 to 10k person town. At that level you should be able to save a fair amount, not to mention that bartering still is fairly rampant in smaller towns.

Yes, the midwest is sounding better and better. I love the people there and it is probbaly a much better place to raise children. If only I could find a way to get rid of tornandos! I grew up on a farm in Wisconsin and remember having to wake up in the middle of the night to hurry and get in the shelter on many occasions.

 

[usi]

How about I need to secure my own finanicial future by actually saving a larger portion of my paycheck instead of relying on company pensions (which are going the way of the dinosaurs) and government S.S. in retirement. That is what people I feel don't understand completely. People are not saving enough and taking responsibility for their finances. I see it everyday in my business, people want and want everything to keep up with society.

If you make 100K a year and by a house that costs $300,000 (put 60K/ 20% down to avoid PMI)Your payments are going to be around $1,600 (based on competitive interest rates), now add property taxes and everything else you will be close to $2000 a month just in housing costs. That will be at least third of your income after taxes if you make 100K a year. That is if you have an extra 60K around to put down, if you don't then the payments will go up.

So if you are going to save for your future, own a house, have a kid or two 100K in many cases will not cut it.

I agree with you. These are american standards. House/kids/retirement/2.5 cars. The majority of people in this planet can not even dream about this. Is funny, when you don't have to worry anymore about having enough money to bring food into your table, (such as your average american), you still find more things to worry about! Is mostly about OWNING...oh, and being able to travel when you are retired, not about basic needs. I am sorry, I think a 500K house is a luxury! Although I was living in California where you get a fixer-upper for that cash!

 

[SomeGuy]

My husband and I live in San Diego where the median house price is around $550,000. You also have to pay property taxes, insurance, HOA, and mello-roos on top of paying the mortgage.

Move out of San Diego. Don't walk, run. If you already owned a house for a few years, cashout now and buy a mansion elsewhere, with enough to buy a hummer and fuel it (not that I'd really recommend that, get a hybrid instead). As your husband is a pilot and you'll (you're) be a pharmacist, you should be able to live anywhere (depending on what kind of pilot your husband is). The cost savings should make up for the rebuilding of the FA clientele.

Yes, the midwest is sounding better and better. I love the people there and it is probably a much better place to raise children. If only I could find a way to get rid of tornandoes!

Don't forget about the massive fault line and tsunami risk that is coastal California.

If you make 100K a year and by a house that costs $300,000 (put 60K/ 20% down to avoid PMI)Your payments are going to be around $1,600 (based on competitive interest rates), now add property taxes and everything else you will be close to $2000 a month just in housing costs. That will be at least third of your income after taxes if you make 100K a year.

The Canadian Consumer Price Index weights housing cost at 27.9%. The Bureau of Labour Statistics weights housing cost at 42% of net income for urban workers. As well, the 42% figure includes fuel, insurance, water, furnishings etc. 33% is the figure given _just_ for shelter. If you're paying 33%, you're doing pretty well in my opinion.

Luckily, in your locale, you can honestly say that $100k (even combined with a spouse) isn't much without looking greedy in the eyes of people like me.

I'm really not ragging on you, you're actually quite justified in your opinions, as you're in SD. I just get quite irked when people think they're going to be making _only_ $100k in AnyTown USA.

 

[Smilescali]

Move out of San Diego. Don't walk, run. If you already owned a house for a few years, cashout now and buy a mansion elsewhere, with enough to buy a hummer and fuel it (not that I'd really recommend that, get a hybrid instead). As your husband is a pilot and you'll (you're) be a pharmacist, you should be able to live anywhere (depending on what kind of pilot your husband is). The cost savings should make up for the rebuilding of the FA clientele.

The Canadian Consumer Price Index weights housing cost at 27.9%. The Bureau of Labour Statistics weights housing cost at 42% of net income for urban workers. As well, the 42% figure includes fuel, insurance, water, furnishings etc. 33% is the figure given _just_ for shelter. If you're paying 33%, you're doing pretty well in my opinion.


Luckily, in your locale, you can honestly say that $100k (even combined with a spouse) isn't much without looking greedy in the eyes of people like me.


I'm really not ragging on you, you're actually quite justified in your opinions, as you're in SD. I just get quite irked when people think they're going to be making _only_ $100k in AnyTown USA.

We all have our own preferences where we want to live ( and what we drive). Some people are willing to pay more than others to live in certain places. Don't get me started on hybrids....

D Earthquakes don't bother me (the VERY few we get) tornados do. Having lived through them both, I would much rather go through an earthquake once every few years than a tornado many times a year. 😱
Actually, I have read that the coastal tsunami risk to the east coast is MUCH greater than it is here in Cali.

Wow, I am impressed with your Canadian housing numbers. I was going to mention this in my last post. 33% is good, but I was using 300K which is a low figure in many places in the US. If you go higher lets say even 500K then you are looking at around 45% of your income only in mortgage, taxes, special assesments etc.

Additionally, the guideline of 33% for housing expenses in the US is based on your gross income not net. This makes your disposable income much lower and the net percentage for housing much higher.

I don't understand how reality is making ME sound greedy. I don't like the prices the way they are. I am simply stating the harsh reality of the cost of life. You are the one ywho is saying to cashout and buy a mansion. That sounds pretty greedy to me. I live in a modest house and drive a Honda.

As for your last comment, I see why you and others are upset when you put it that way. Of course one can live on that amount in "Anytown" USA.

San Diego is not the only area like this. Boston, New York, Orange County, the bay area, and many many others are like this. Even in my hometown in Wisconsin houses are 400-500K in some areas.

I respect your opinion regarding this matter. It is all relative to where you live and how you want to live. If you live in more expensive areas then you simply have to make more money. Greed has nothing to do with it.

Sorry this is a little choppy as I tried to respond to your quotes in the same fashion as you did my original post. I ended up having to just put all of my discussion under your entire quote.

 

[crossurfingers]

To answer the question, retail pharmacy is your best bet.

Have you looked into nursing? Some community colleges have an associate's degree program for nursing which would take around 3 years to complete. One of my friends just graduated last year and started in the ICU at $60,000. And with overtime (which is very abundant!) or being an agency nurse you could possibly make even more than that. When I was a secretary at the hospital I would stumble upon these agency nurses' time cards and some of them were getting paid around $70-$75/hour. 😱 I would consider this as an alternative to the at least 6 years that it takes to get a PharmD.

 

[imperial frog]

Have you looked into nursing? Some community colleges have an associate's degree program for nursing which would take around 3 years to complete. One of my friends just graduated last year and started in the ICU at $60,000. And with overtime (which is very abundant!) or being an agency nurse you could possibly make even more than that.

My wife is a nurse and she just crossed the 100k mark with a month and a half left to go for the year. Yeah it's a faster way of making money, but to be honest it's a hell of a lot harder and the burnout rate is much greater. You wouldn't believe how many nurses hang it up within the first year or two of working.

 

[SomeGuy]

Just to be clear, I was specifically trying to say that I _don't_ see you (smilescali) as greedy, since what seems like a lot of money just doesn't go that far in SD. Some other locales are like this, but by no means all.

The Canadian and the US housing numbers may very well be based on somewhat different metrics, so take them with a grain of salt. As a sidenote, they are indeed based on net income, not gross.

BTW: I like hondas 🙂

(The following may as well be a seperate post, its not at all with regards to you smilescali)
I think everyone should take a look at census data every once in a while and see just how much other people are making/spending/saving, and keep in mind, you _can_ look at data only from your locale.

As well, take a look at Consumer Price Index weightings to see how much people spend on what.

Many seem to want to spend more on their vehicle than their housing. When looking at the amount of depreciation of a car the second it comes off the lot and the higher interest rates, some (many?) people almost are.

 

[bdyoon]

Darn...I wish I am allowed to go to a canadian pharm school and still practice in US afterwards 😀

 

[SomeGuy]

Darn...I wish I am allowed to go to a canadian pharm school and still practice in US afterwards 😀

Too bad its not as easy as it used to be to go back to the USA, but it is indeed still possible. And nobody said you weren't allowed to go to a Canadian pharmacy school.