Your annual increase is based on lots of factors. Some years, I've received no annual increase at all. Others - its been 10%.
It depends on what kind of institution you work for, what unions are strong in that facility & how the institution has done financially that year. You are paid under the operating budget, which is separate from the capital budget. So - some years, I had no increase at all, but the hospital I worked at was building like crazy - different budgets which can't be interchanged.
In hospitals, they'll look at what their "major" unions have negotiated - nurses, techs, etc..& they'll look at cost of living, the demand for pharmacists in the area & how well the hospital has done during its last fiscal year.
In retail, they'll look at the company bottom line & what other comparable (chain, closed door, grocery, etc..) retail pharmacists earn. They'll also be more likely to give you a bonus depending on a particular location's performance - which involves rx count, inventory control, generic substitution % conversion,, etc...
You can't count on any set % increase, particularly when looking out as far as 8 years.
