Who's the Highest Paid Pharmacist?

This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.
D

Da Alchemist

Full Member
10+ Year Member
15+ Year Member
Joined
Sep 6, 2006
Messages
172
Reaction score
0
How much do you get paid? anyone making below 100k? Please don't be shy.
Members don't see this ad.
 
Not a pharmacist or student, but most people are below 100k.

The national average is about 85k for all years of work experience. I'm sure the school that is trying to recruit you has painted a picture of great riches though.

http://www.bls.gov/oco/ocos079.htm
 
Members don't see this ad :)
I hate to disagree.....but, I don't know of a pharmacist who works enough to get benefits (>20hr/wk) who doesn't make 100K.....but that's CA.

You can work just a few hours a week & get paid less, I guess...
 
85k only? woww. I think i might quit pharmacy lol...
 
I hate to disagree.....but, I don't know of a pharmacist who works enough to get benefits (>20hr/wk) who doesn't make 100K.....but that's CA.

You can work just a few hours a week & get paid less, I guess...
Click to expand...

Do you have a source for that?
 
I live in Texas & my friend who graduated from University of Houston last May was offered 6 jobs around TX, none of which were below $100k. The highest paying pharmacy jobs in TX are in Brownsville & El Paso bc they are small towns & nobody really wants to go live out there. My friend accepted his highest paying offer in Brownsville for $124k/yr. So... don't be discouraged! You can always come out to TX. The job market is great for the next several years at least & cost of living out here is pretty awesome too.
 
  • Like
Reactions: 1 user
JadedSurgeon said:
Not a pharmacist or student, but most people are below 100k.

The national average is about 85k for all years of work experience. I'm sure the school that is trying to recruit you has painted a picture of great riches though.

http://www.bls.gov/oco/ocos079.htm
Click to expand...

wow so all this talk about new pharm graduate makes 100k is nonsense. hey doc, how much do you make? I think ill switch to your proffesion.
 
Ah, look at published statistics from the Pharmacist Workforce Survey. Ranges from $75000-$130,000 for a regular staff pharmacist (36 h a week) in the Big 10 area.

Also, salary isn't everything. VA Pharmacists are GS-12 through GS-14, but the benefits easily carry them over $100K.
 
JadedSurgeon said:
Do you have a source for that?
Click to expand...

Jaded surgeon, why are you here? Your data is not only based on stats from may 2004 but also includes part-time workers (21%). Grind your axe elsewhere. The average (retail setting) in TN is 103k not including signing bonuses which average about $10k. The average nationally is very close to that. My guess is the highest paid pharmacists are generally the ones that own their own retail pharmacies~$300k plus. That was the original question in the post...right?
 
julia403 said:
I live in Texas & my friend who graduated from University of Houston last May was offered 6 jobs around TX, none of which were below $100k. The highest paying pharmacy jobs in TX are in Brownsville & El Paso bc they are small towns & nobody really wants to go live out there. My friend accepted his highest paying offer in Brownsville for $124k/yr. So... don't be discouraged! You can always come out to TX. The job market is great for the next several years at least & cost of living out here is pretty awesome too.
Click to expand...

I always hear the story my friend makes 100k...... is there anyone here making 100k? please dont be shy
 
thelonius said:
Jaded surgeon, why are you here?
Click to expand...

I'm here because every profession, especially health professions, are full of disinformation about salaries.


Your data is not only based on stats from may 2004 but also includes part-time workers (21%). Grind your axe elsewhere.
Click to expand...

The part time workers are balanced out by those big earners at the top (your 300k people)

The average (retail setting) in TN is 103k not including signing bonuses which average about $10k. The average nationally is very close to that.
Click to expand...
Don't be a ***** and go on what some friend earned. Show me an actual source and I'll shut up.

My guess is the highest paid pharmacists are generally the ones that own their own retail pharmacies~$300k plus. That was the original question in the post...right?
Click to expand...

Your GUESS. 'nuff said.
 
Members don't see this ad :)
Also, I have worked with the BLS-NCHS collaboration on health care salaries. That number is well-known to be incorrect within the BLS itself, because it takes into account historical data. 14 years ago, pharmacists were making $24 a hour. A better estimate is what the IRS accountants use to guage reasonable salary.

Something to note, dental hygenists don't make out too badly when you look at the IRS tables. It does make me envy the high salaries and lifestyles of dentists. Very few doctors can match that combination of high salary/reasonable lifestyle.
 
Agreed, if you want a good lifestyle career, become a dentist.

Medicine is for overachieving suckers.
 
dentist doesnt do much either. the mouth, teeth, is easy to study lol......not like physician who has to study the whole body. just kidding
 
Lol, you kid but its true.

Dentist's life is much simpler and they don't have to worry so much about medicare, malpractice....

You want money? Become an investment banker.
 
hey doc, why does it take 10 years to study the mouth and teeth? the mouth doesnt even relate to any part of the body lol the mouth is like the ear lobe anything u do with it it doesnt affect the body or the brain lol. Investment banking? NO WAY its just a myth. LOL
 
i made about $115k working staff hospital with minimal OT.
that being said, they implemented $10 more an hour for OT (plus 1.5 x hourly) since we found out nurses get $6. Supposedly my hospital system is one of the lower paying ones in the area.
 
A major hospital chain in the Tampa Bay area starts their clinical pharmacists at 80k per year. Retail pays just around 100k, but with a signing bonus. Target pays 108k, but with no signing bonus. Walgreens wants a 3-year commitment or you pay back the 15k bonus. CVS has an 8k bonus, but only a 1 year commitment.

We got an email from UF, saying Shands hospital will hire 3 students this year without residencies who want to specialize in oncology, peds, critical care or surgery for $103k but it's evenings and weekends.

I've also met some pharmacists making in the 60k range, but they were working for small clinics.
 
julia403 said:
I live in Texas & my friend who graduated from University of Houston last May was offered 6 jobs around TX, none of which were below $100k. The highest paying pharmacy jobs in TX are in Brownsville & El Paso bc they are small towns & nobody really wants to go live out there. My friend accepted his highest paying offer in Brownsville for $124k/yr. So... don't be discouraged! You can always come out to TX. The job market is great for the next several years at least & cost of living out here is pretty awesome too.
Click to expand...

This is true. I also live in Texas and it seems the majority of retail pharmacists are making in the 90k-105k range. The hospital pharmacists are making in the 85k-95k range. In Brownsville (as well as some rural towns), as the other poster mentioned, salaries are indeed in the 110k-125k for retail positions. The lowest salary I've personally seen was 65k for a state agency. And guess what, that position remained unfilled for months. I'm not even sure if they were ever able to fill the position for that salary.
 
JadedSurgeon said:
Do you have a source for that?
Click to expand...

Yep - me! I make over 100K at my part-time job with benefits. The other part-time job I make less since I work less.

Now....stop calling folks *****s. Just because you don't believe its true doesn't make it so, but here in CA....we just do make over 100K. It also costs us a bucketload to live here.

OP - did you get enough answers to your question?
 
I've gotten a few job offers in the Chicagoland area (all retail):

Approximate starting salaries:
Walgreens: 105,000
CVS: 106,000
Osco/Supervalue: 98,500
Dominick's/Safeway: 98,750
Target: 98,000
 
JadedSurgeon said:
Not a pharmacist or student, but most people are below 100k.

The national average is about 85k for all years of work experience. I'm sure the school that is trying to recruit you has painted a picture of great riches though.

http://www.bls.gov/oco/ocos079.htm
Click to expand...

I got an offer letter this week for 105 g's working what comes out to about 37 hours per week, and I havn't even graduated yet nor do I have to move to Alaska or some other booming area, is that proof enough or do I have to fax it over.
 
julia403 said:
I live in Texas & my friend who graduated from University of Houston last May was offered 6 jobs around TX, none of which were below $100k. The highest paying pharmacy jobs in TX are in Brownsville & El Paso bc they are small towns & nobody really wants to go live out there. My friend accepted his highest paying offer in Brownsville for $124k/yr. So... don't be discouraged! You can always come out to TX. The job market is great for the next several years at least & cost of living out here is pretty awesome too.
Click to expand...

JadedSurgeon said:
Not a pharmacist or student, but most people are below 100k.

The national average is about 85k for all years of work experience. I'm sure the school that is trying to recruit you has painted a picture of great riches though.

http://www.bls.gov/oco/ocos079.htm
Click to expand...


I love talk about salary....Is there anyone who has posted that really knows what they are talking about. Uhhh...a friend of a friend in Cali makes this much....whatever. Also, if you are not a Pharmacist do not post 5-year-old data you googled and present it as expert testimony.

Listen, salary varies based on what part of the country you live in. Every single retail chain does a yearly market survey on their competitor’s wages. What you will find is in a particular city or geographic area all the retail chains are paying the same wage plus or minus a dollar an hour.

So the bottom line is there are VA pharmacists fresh out of school making 80k a year and 20 year retail chain pharmacy managers who are making 140K a year.
 
MountainPharmD said:
I love talk about salary....
Click to expand...

Amen to that. Whatever happened to the days when asking somone what they earn was like asking a woman her age? I remember once asking my parents how much they earned and being told to mind my own business. I guess with the middle class shrinking all the time, financial concerns are pushing out etiquette.

When I finally graduate and start earning money, my salary will be my business and I look forward to telling my mother to mind her's. :laugh:
 
We got an email from UF, saying Shands hospital will hire 3 students this year without residencies who want to specialize in oncology, peds, critical care or surgery for $103k but it's evenings and weekends.


That's interesting. Never heard of smth like that. So are you saying this hospital will hire fresh grads as clinical pharmacists?
 
davidgayz said:
I got an offer letter this week for 105 g's working what comes out to about 37 hours per week, and I havn't even graduated yet nor do I have to move to Alaska or some other booming area, is that proof enough or do I have to fax it over.
Click to expand...


Since when Alaska is a booming area? I thought nobody wants to go there, so they pay better money to attract people.
 
twester said:
Amen to that. Whatever happened to the days when asking somone what they earn was like asking a woman her age? I remember once asking my parents how much they earned and being told to mind my own business. I guess with the middle class shrinking all the time, financial concerns are pushing out etiquette.

When I finally graduate and start earning money, my salary will be my business and I look forward to telling my mother to mind her's. :laugh:
Click to expand...

I don't know about that. Some of my classmates and the class ahead of me did not like talking about salaries. However, not talking about salaries really hurt my other classmates who do not realize whether they're being underpaid.

I know 6 of my classmates who have already signed with CVS because they liked seeing $109k/yr (44 hrs/wk) salary but not realizing what the hourly pay really was compared to hospitals and other chains. I had to explain to them how lousy the bonus was and how their hourly pay was actually lower than Rite-Aid's, Walgreen's, and even Giant's in our area! They were also worried if they didn't sign early, they'd lose out on bonuses and other silly things... Rite-Aid sent out offers to its interns, and it turns out they were offering several dollars less per hour than what my district manager was saying the lowest pay was! Hence, I think it's sometimes beneficial to discuss with your colleagues the salary to make sure you're being paid your market worth and avoid becoming an indentured servant.
 
Online salary survey report is very inaccurate at best because it is based on what people report. The most accurate salary is is published locally. Most metropolitan areas have local healthcare salary published through Hospital Council in the area based on each institution's Human Resources report.

This is a fairly expensive subscription most hospitals participate in. In my area, average hospital staff pharmacist salary was $45 per hour excluding the differentials. So, a hospital pharmacist working M-F 40 hours week would have made $93,600 if no evening, no overtime, or no weekends were worked.

And since most pharmacist will do some evening, overtime, and weekends, hitting $100,000 per year for an average pharmacist isn't that hard.

The average salary for Director of Pharmacy in the area is close to $140,000 base per year which is skewed by some large hosptals who pay $180,000 per year.

But this is nothing compared to your local pharmacist who owns his own pharmacy.

I'm surprised no one used the Old Lilly Digest now known as the NCPA-Pfizer Digest as a resource.

In 2005, an average independently (24,500) owned pharmacy grossed $3.75million with 3.7% net profit. That is $140,000 profit and add $100,000 for the salary... that's $240,000 per year for an independent pharmacist.

http://www.ncpanet.org/pdf/digest06_summary.pdf

The independent pharmacist spent 13.4% on the payroll which is $500,000 per year. If the pharmacist worked lonesome with 3 full time pharmacy technicians, then the pharmacist paid himself $400,000 in salary + $140,000 in profit.

Subtract $120,000 per pharmacist... including benefits..

With the owner pharmacist and a full time pharmacist with 3 technicians, the owner pharmacist makes $280,000 in salary + $140,000 in profit.

There is a lot of money to be made.. but you must ask yourself how hard you want to work.

Employed pharmacist will make $100,000+ per year working 40 hours a week with no OT. Per diem 20 hours a week and $150,000 per year.. hold down 2 jobs and $200,000 per year.

Own your own..and you can either go bankrupt or make $500,000 per year or more.
 
  • Like
Reactions: 1 user
A former neighbor of mine (RPh/MBA) left his DoP position after 25 years to go into the private sector. The new position offered him 2.5 times what he had been making as DoP. He basically scouts companies for his pharmacy services to gobble up. He has 2.5 times as many kids as Zpak too, so I guess it all works out.
 
bananaface said:
A former neighbor of mine (RPh/MBA) left his DoP position after 25 years to go into the private sector. The new position offered him 2.5 times what he had been making as DoP. He basically scouts companies for his pharmacy services to gobble up. He has 2.5 times as many kids as Zpak too, so I guess it all works out.
Click to expand...


But I already make 2.5 times the Zpak the DOP and still have 2.5 times less kids than your neighbor RPh/MBA! :smuggrin:
 
konkan said:
We got an email from UF, saying Shands hospital will hire 3 students this year without residencies who want to specialize in oncology, peds, critical care or surgery for $103k but it's evenings and weekends.


That's interesting. Never heard of smth like that. So are you saying this hospital will hire fresh grads as clinical pharmacists?
Click to expand...

Yep, it's the UF teaching hospital. They also offer several residencies. Apparently, it's hard to get people to work nights and weekends, so they are hiring new graduates for those positions.
 
Sosumi said:
I don't know about that. Some of my classmates and the class ahead of me did not like talking about salaries. However, not talking about salaries really hurt my other classmates who do not realize whether they're being underpaid.

I know 6 of my classmates who have already signed with CVS because they liked seeing $109k/yr (44 hrs/wk) salary but not realizing what the hourly pay really was compared to hospitals and other chains. I had to explain to them how lousy the bonus was and how their hourly pay was actually lower than Rite-Aid's, Walgreen's, and even Giant's in our area! They were also worried if they didn't sign early, they'd lose out on bonuses and other silly things... Rite-Aid sent out offers to its interns, and it turns out they were offering several dollars less per hour than what my district manager was saying the lowest pay was! Hence, I think it's sometimes beneficial to discuss with your colleagues the salary to make sure you're being paid your market worth and avoid becoming an indentured servant.
Click to expand...

First, it is very unwise to interview with only one company and take the job because you think the salary is high. Do your own investigating and interview with every possible company for any position you might even be a little interested in. The interviews are free, you bought a good suit so you might as well use it!

Do not take others word, do you own work! Its your carrer after all.
 
MountainPharmD said:
First, it is very unwise to interview with only one company and take the job because you think the salary is high. Do your own investigating and interview with every possible company for any position you might even be a little interested in. The interviews are free, you bought a good suit so you might as well use it!

Do not take others word, do you own work! Its your carrer after all.
Click to expand...

You bought a good suit???
 
the pharmacist i work with at Rite Aid earns $70 an hour. He's been a pharmacist for over 40 years though and he only works 4 days a week.
 
ZpackSux said:
Per diem 20 hours a week and $150,000 per year..
Click to expand...


am I reading this right...."Temp Agency" pays $144/hr?

no matter what we make, it is never enough.
 
I'm sure this has been talked about but what are your opinions on excessively high and increasing salaries? Won't they hurt pharmacists in the long run? I'm sure companies will try to find a way to try and cut their expenses if salaries keep going up...like less pharmacists and more techs, technology, etc...
 
Oxycotin said:
I'm sure this has been talked about but what are your opinions on excessively high and increasing salaries? Won't they hurt pharmacists in the long run? I'm sure companies will try to find a way to try and cut their expenses if salaries keep going up...like less pharmacists and more techs, technology, etc...
Click to expand...

hmmmm.......no! First - what we are paid is not excessively high altho it is increasing.

Don't worry about techs or technology.....we need them to help us do more than just lick & stick (gosh...that sounds like that other Levaquin thread:oops: ).

When I first started.....a long time ago...pharmacists would let anyone "handle" the drugs - just type the labels (before unit dose!!!). Can you imagine what our lives would be like if that were still true?

I think all my diabetics, depressive pts, CAD pts & the ICU pts & colleagues need my abilities more than just my skill at counting by fives!
 
dr of rx said:
am I reading this right...."Temp Agency" pays $144/hr?

no matter what we make, it is never enough.
Click to expand...


No...I meant working 20 extra hours per week on top of working 40.
 
No Pharmacist who runs their own little pharmacy is going to be making <300,000 G's.....thats just BS. Maybe there are some that do; running successful stores, but most of that revenue comes from "other" sales than what you would find in a typical pharmacy. There is no need to call me a Troll, or to try and prove me wrong about this because there is always an excpetion or some friend of a friend that has done it. The truth is this: pharmacy is a very noble profession, they have great lifestyles, work reasonable hours and get compensated for their work and for their years in school. Dont give false hope to a pharm student that he/she will be making 100 bucks an hour after graduation.....it WONT happen. To the pharamacists that make good money, they worked their butts off to get that great lifestyle, they sacrificed and worked really hard, to one day work 30 hours a week and make 130 G's. If every Pharmacist was making 140 + G's per year, working only 40 hours or less per week, right out of school, dont you think pharmacy would be alot more competative than it is?????

The bottom line is that you have to earn that lifestyle, it isnt handed to you just because you went to pharmacy school.
 
kovamies23 said:
No Pharmacist who runs their own little pharmacy is going to be making <300,000 G's.....thats just BS. Maybe there are some that do; running successful stores, but most of that revenue comes from "other" sales than what you would find in a typical pharmacy. There is no need to call me a Troll, or to try and prove me wrong about this because there is always an excpetion or some friend of a friend that has done it. The truth is this: pharmacy is a very noble profession, they have great lifestyles, work reasonable hours and get compensated for their work and for their years in school. Dont give false hope to a pharm student that he/she will be making 100 bucks an hour after graduation.....it WONT happen. To the pharamacists that make good money, they worked their butts off to get that great lifestyle, they sacrificed and worked really hard, to one day work 30 hours a week and make 130 G's. If every Pharmacist was making 140 + G's per year, working only 40 hours or less per week, right out of school, dont you think pharmacy would be alot more competative than it is?????

The bottom line is that you have to earn that lifestyle, it isnt handed to you just because you went to pharmacy school.
Click to expand...

Is that right...

How about we make a wager that the majority of profit in independent retail pharmacy comes from prescription sales..vs your claim of "other" sales?

Why don't you read the Lilly Digest..I mean Pfizer Digest before you spew off your uneducated nonsense.. do you even know what Lilly digest was about?
 
ZpackSux said:
Is that right...

How about we make a wager that the majority of profit in independent retail pharmacy comes from prescription sales..vs your claim of "other" sales?

Why don't you read the Lilly Digest..I mean Pfizer Digest before you spew off your uneducated nonsense.. do you even know what Lilly digest was about?
Click to expand...

Then why dont you provide me with some type of evidence that pharamacists that own their own little joint sell MOSTLY drugs. Also, realize that when a PharmD is making 300 G's running his/her own joint, they have a mortgage of the store, employees to pay, insurances, the list goes on.....so basically the pharmacist working at Target or Walmart is making more money, wouldnt you say? No overhead costs, no insurances, no employees to pay.

You may be king stud in the pharmacy realm, but get real dude.....quit kidding yourself. All I know is that I will be making more money than the whole lot of you, so I am all good
 
kovamies23 said:
No Pharmacist who runs their own little pharmacy is going to be making <300,000 G's.....thats just BS. Maybe there are some that do; running successful stores, but most of that revenue comes from "other" sales than what you would find in a typical pharmacy. There is no need to call me a Troll, or to try and prove me wrong about this because there is always an excpetion or some friend of a friend that has done it. The truth is this: pharmacy is a very noble profession, they have great lifestyles, work reasonable hours and get compensated for their work and for their years in school. Dont give false hope to a pharm student that he/she will be making 100 bucks an hour after graduation.....it WONT happen. To the pharamacists that make good money, they worked their butts off to get that great lifestyle, they sacrificed and worked really hard, to one day work 30 hours a week and make 130 G's. If every Pharmacist was making 140 + G's per year, working only 40 hours or less per week, right out of school, dont you think pharmacy would be alot more competative than it is?????

The bottom line is that you have to earn that lifestyle, it isnt handed to you just because you went to pharmacy school.
Click to expand...

Thank goodness you gave your authoritative statement!!!! My 30 years of being a pharmacist counts for nothing in comparison to what you know - whew! I can't tell what you are....a student, applicant to pharmacy, DO/MD...whatever.

However....I am one of those pharmacists who make good money & altho I have great legs (Zpak knows this!) my butt is very much intact (altho not spread as much as Zpaks because he sits down & I don't!).

But....we do so much thank you for all your knowledge of what my paycheck so clearly shows is a mistake.......I'm sure my colleagues, who have only been out of school for 5 years & make the same money I do agree with you also!
 
kovamies23 said:
Then why dont you provide me with some type of evidence that pharamacists that own their own little joint sell MOSTLY drugs. Also, realize that when a PharmD is making 300 G's running his/her own joint, they have a mortgage of the store, employees to pay, insurances, the list goes on.....so basically the pharmacist working at Target or Walmart is making more money, wouldnt you say? No overhead costs, no insurances, no employees to pay.

You may be king stud in the pharmacy realm, but get real dude.....quit kidding yourself. All I know is that I will be making more money than the whole lot of you, so I am all good
Click to expand...


http://www.ncpanet.org/pdf/digest06_summary.pdf

Read Page 3.

$3993 per sq/ft of for RX sale
$98 per sq/ft of "other sale"

Read page 7, The table shows 23.6% of gross profit with 19.9% expenses(this includes mortgage and insurance) which is the overhead to run the operation. The 3.7% of pure net profit on $$3.75 mil for an average drug store shows 140K of net profit on top of the owner pharmacist salary. The payroll for an average independent pharmacy is 500K... which includes the salary of the owner which can range from 100K to 400K. So you're very clearly wrong and clueless.

50% of independent pharmacy grosses over 3.5 mil per year... the other 50% of indenpendents gross 2.5 to 3.5 million.

multiply that to 3.7% and you have the net profit. Then add 100K salary for total income.
pwned..

But what does it matter...you'll be making more money than us..right?

Good Luck in Montana's PharmD program.
 
You must log in or register to reply here.
Next unread thread

Similar threads

pharm B
Who's still around?
Replies
36
Views
2K
rph3664
R
P
Immunizing pharmacist CVS
Replies
0
Views
552
pharmdeep
P
A
Is this real? 300k income as a pharmacist?
2
Replies
50
Views
6K
pharm B
pharm B
B
Canadian Trained Pharmacist Relocating to the US
Replies
17
Views
5K
BenadrylPRN
B
N
District Support Pharmacist
Replies
5
Views
3K
sunnyandseventytwo
sunnyandseventytwo
Top