What Pharmacist Salary Are Professionals In The Field Currently Earning?
A pharmacists' primary duty is to distribute the drugs
prescribed by medical doctors to their patients. This must be done with
the utmost care and accuracy, with regards to correct drug type,
dosage, instructions to the patient, and any contraindications.
Often times, potential medication errors are picked up at the pharmacy level, where the pharmacist may recognise a contraindication that the doctor has not.
Often times, potential medication errors are picked up at the pharmacy level, where the pharmacist may recognise a contraindication that the doctor has not.
Overview:
The Average Pharmacist Salary
In addition to prescribing the correct medication to customers and patients, pharmacists also supervise the work of pharmacy assistants and dispensary assistants, and are responsible for the accuracy of all dispensed scripts. This work requires a high level of knowledge, and for this they are paid a generous pharmacist salary.
The annual pharmacist salary is currently averaging at $109,380 in the United States, which equates to $52.59 per hour. However, as with many jobs there is a significant pharmacist salary range.
The lowest ten percentile earners are at $82,090 per annum, or $39.47 per hour, which many would acknowledge is still not bad! Even better is the wage of the highest earning ten percent of pharmacists, who get $138,620 a year or $66.64 per hour.
Read on for more essential information about the pharmacist salary, including the most significant factors that determine where you will fall on this pay scale.
Salary By Employer Type
If you are considering undertaking training as a pharmacist or currently looking for a job, it is important to bear in mind that your prospective employer type can have a huge impact on your pharmacist salary. In this case, fortunately for job seekers, the biggest employer in this sector is also one of the more generous. According to the Bureau of Labor Statistics, "health and personal care stores" (i.e. pharmacies) pay their pharmacists an average $111,000 per year.
Comparatively, residential mental retardation, mental health and substance abuse facilities are by far the highest paying employers in this sector, paying an average $122,380 per year to their employees. However, this currently applies to only eighty workers nationally, indicating that there are very few such roles to be found. Slightly more accessible at 370 jobs nationally are management, scientific and technical consulting services, which pays a generous pharmacist salary of $121,040 per year.
If 370 jobs still sounds a little too narrow for your liking, consider the offices of physicians as a workplace, which employs 2,620 pharmacists nationally and pays a still-competitive $113,450. Then there is other general merchandise stores (not pharmacies), employing 14,010 pharmacists and paying them $112,860 on average.
Employers to avoid, if you are seeking the highest possible pharmacist salary, include electronic shopping and mail order houses, who employ 2,950 pharmacists nation-wide, but pay them only $103,690 on average. This relatively low wage gets only slightly better for the employees of drug merchant wholesalers (employing 3,040 pharmacists at an average $106,230), department stores (17,620 at $106,740) and general hospitals (58,680 at $108,430).
With all this data in mind it is also important to consider the working conditions that you may experience under each employment sector. For example, the high pharmacist salary earners in mental health facilities may experience a larger degree of stress and have heavier demands placed on them in the workplace.
Comparatively, a pharmacist working in a mail order company would have hardly any contact with the public at all, and may be able to pace their work day more steadily rather than rushing to meet the demands that waiting customers or patients place on them. When making your choice regarding what type of employer to work for, it would be wise to speak to someone already working in a similar role. Alternatively, you could offer to do a short stint of work experience with an employer and gain an insight firsthand.
Salary By Location
Your employer type is not the only major factor in determining your future pharmacist salary. Your earning power is also greatly affected by what area you live and work in. The state of Maine is the strongest in this regard, paying an average annual pharmacist salary of $121,470. Maine is followed by California (often found in the highest salary category due to a relatively high cost of living), at $118,810 per year. These states are followed by Alaska ($118,060), Alabama ($117.930), and Vermont ($117,900).
Salary By Experience
When you first graduate from your pharmacist training program, as with many jobs, you will find you cannot reach your peak earning potential right away (although some lucky ones come close!).
According to curated data reported from current workers and the Bureau of Labour statistics, an entry level pharmacist can expect to earn between $59,740 and $110,724 per year. That equates to $28.72 - $53.23 per hour! If you were to fall into the high end of this range, you would be earning just over $20,000 per year less than the maximum overall pharmacist salary range.
If you are not so fortunate in your initial pharmacist salary offer, don't worry because your earnings should continue to improve over time as you grow in experience. With 1-5 years under your belt, the minimum projected earnings increase to $65,690 per year and the maximum is $116,250. 5-10 years brings you from $73,390 to $120,420 on the pharmacist salary range. Then, as a highly experienced senior with over ten years of experience, you should earn between $78,210 and $131,260.
As you can see, it is well worth sticking to this career in the long term, as experience brings with it a greatly increased earning potential.
In addition to prescribing the correct medication to customers and patients, pharmacists also supervise the work of pharmacy assistants and dispensary assistants, and are responsible for the accuracy of all dispensed scripts. This work requires a high level of knowledge, and for this they are paid a generous pharmacist salary.
The annual pharmacist salary is currently averaging at $109,380 in the United States, which equates to $52.59 per hour. However, as with many jobs there is a significant pharmacist salary range.
The lowest ten percentile earners are at $82,090 per annum, or $39.47 per hour, which many would acknowledge is still not bad! Even better is the wage of the highest earning ten percent of pharmacists, who get $138,620 a year or $66.64 per hour.
Read on for more essential information about the pharmacist salary, including the most significant factors that determine where you will fall on this pay scale.
Salary By Employer Type
If you are considering undertaking training as a pharmacist or currently looking for a job, it is important to bear in mind that your prospective employer type can have a huge impact on your pharmacist salary. In this case, fortunately for job seekers, the biggest employer in this sector is also one of the more generous. According to the Bureau of Labor Statistics, "health and personal care stores" (i.e. pharmacies) pay their pharmacists an average $111,000 per year.
Comparatively, residential mental retardation, mental health and substance abuse facilities are by far the highest paying employers in this sector, paying an average $122,380 per year to their employees. However, this currently applies to only eighty workers nationally, indicating that there are very few such roles to be found. Slightly more accessible at 370 jobs nationally are management, scientific and technical consulting services, which pays a generous pharmacist salary of $121,040 per year.
If 370 jobs still sounds a little too narrow for your liking, consider the offices of physicians as a workplace, which employs 2,620 pharmacists nationally and pays a still-competitive $113,450. Then there is other general merchandise stores (not pharmacies), employing 14,010 pharmacists and paying them $112,860 on average.
Employers to avoid, if you are seeking the highest possible pharmacist salary, include electronic shopping and mail order houses, who employ 2,950 pharmacists nation-wide, but pay them only $103,690 on average. This relatively low wage gets only slightly better for the employees of drug merchant wholesalers (employing 3,040 pharmacists at an average $106,230), department stores (17,620 at $106,740) and general hospitals (58,680 at $108,430).
With all this data in mind it is also important to consider the working conditions that you may experience under each employment sector. For example, the high pharmacist salary earners in mental health facilities may experience a larger degree of stress and have heavier demands placed on them in the workplace.
Comparatively, a pharmacist working in a mail order company would have hardly any contact with the public at all, and may be able to pace their work day more steadily rather than rushing to meet the demands that waiting customers or patients place on them. When making your choice regarding what type of employer to work for, it would be wise to speak to someone already working in a similar role. Alternatively, you could offer to do a short stint of work experience with an employer and gain an insight firsthand.
Salary By Location
Your employer type is not the only major factor in determining your future pharmacist salary. Your earning power is also greatly affected by what area you live and work in. The state of Maine is the strongest in this regard, paying an average annual pharmacist salary of $121,470. Maine is followed by California (often found in the highest salary category due to a relatively high cost of living), at $118,810 per year. These states are followed by Alaska ($118,060), Alabama ($117.930), and Vermont ($117,900).
Salary By Experience
When you first graduate from your pharmacist training program, as with many jobs, you will find you cannot reach your peak earning potential right away (although some lucky ones come close!).
According to curated data reported from current workers and the Bureau of Labour statistics, an entry level pharmacist can expect to earn between $59,740 and $110,724 per year. That equates to $28.72 - $53.23 per hour! If you were to fall into the high end of this range, you would be earning just over $20,000 per year less than the maximum overall pharmacist salary range.
If you are not so fortunate in your initial pharmacist salary offer, don't worry because your earnings should continue to improve over time as you grow in experience. With 1-5 years under your belt, the minimum projected earnings increase to $65,690 per year and the maximum is $116,250. 5-10 years brings you from $73,390 to $120,420 on the pharmacist salary range. Then, as a highly experienced senior with over ten years of experience, you should earn between $78,210 and $131,260.
As you can see, it is well worth sticking to this career in the long term, as experience brings with it a greatly increased earning potential.
Certification
Before you can get a job and start earning this competitive pharmacist salary, aspiring pharmacists must first complete their training and get a license. In the US, the training required is a Pharm.D degree, which takes four years to complete at an accredited college or pharmacy school. However, you cannot go straight from secondary school into this degree; applicants for the course must have completed at least two years of other professional study, such as in maths, natural science, chemistry or some humanities subjects. This gives pharmacy students the advantage of a little more age and higher education before they start their training.
The Pharm.D degree consists of both theory and practical training under the supervision of an accredited pharmacist. Topics covered include all aspects of pharmaceutical drugs, but also patient care, ethics, and business management. A pharmacist training graduate can then apply to take the NAPLEX and MPJE exams set by the National Association of Boards of Pharmacy, and if these are passed, he or she will be rewarded with their license to work as a pharmacist.
On top of their certification, Pharmacists should have strong interpersonal skills, as they will most likely be in a role where they interact with the public on a day-to-day basis. It is also crucial that they have careful attention to detail, as any careless errors in dispensing medications may endanger their customers health. The reason the pharmacist salary is so high is that pharmacists are responsible for getting things right every time.
Employment Prospects
Employment prospects in this industry are very strong, and jobs are projected to increase at a rate of seventeen percent through to 2018. This growth is a positive indicator for the pharmacist salary, which should rise along with the demand for workers. Even now, employers in some areas are complaining of having difficulty finding qualified pharmacists to fill the gap left by workers retiring or moving into part-time hours.
This growth is a result of three main factors; firstly, the role being part of the ever-resilient healthcare industry, which is on the rise due to our growing population. Secondly, the growing cohort of middle-aged and elderly citizens requiring health care and medications. Thirdly, new medical technology and research means new pharmaceuticals becoming available for certain conditions, which increases the scope of people taking them. All this means that more people are relying on their local pharmacist than ever before, so once qualified you should have no trouble locking in a job and a high pharmacist salary.
Career Path
In many workplaces there are good opportunities for promotion beyond the basic role of pharmacist. After working for one employer for some time you may be promoted to supervisor, which would bring with it an increased pay. Larger companies may offer the opportunity to be promoted to a regional supervisory level, which could lead to an executive position at the company's headquarters. This type of work generally comes with a pay far greater than the basic pharmacist salary, along with possible perks such as yearly bonuses, a company car, and expense accounts.
There are also opportunities for experienced pharmacists in research, quality control, sales or marketing to name a few possible areas.
If you prefer the sound of working for yourself, many graduates get their start working for others and earning a pharmacist's wage, but plan to open their own drug store later in their careers. If you paid attention in your business management classes, this could also be a highly profitable career path!
For those who have not yet decided what direction to go in, occupations closely related to pharmacists include biological or medical scientist, pharmacy technician or dispensary assistant, physician or surgeon, and registered nurse. All these involve differing levels of education and pay, but they share a common interest in the medical field and similar personal skills.
Summary
The position of pharmacist can be very rewarding for the right candidate, not just in terms of pharmacist salary but also career advancement prospects and job satisfaction. If you enjoy medical science and working under pressure with attention to detail, as well as liaising with the public, then a career in pharmacy would be well suited to you. After the initial investment in training and certification, your efforts will be well rewarded with an average pharmacist salary of $109,380 per year, and a secure career with strong potential for growth.
Before you can get a job and start earning this competitive pharmacist salary, aspiring pharmacists must first complete their training and get a license. In the US, the training required is a Pharm.D degree, which takes four years to complete at an accredited college or pharmacy school. However, you cannot go straight from secondary school into this degree; applicants for the course must have completed at least two years of other professional study, such as in maths, natural science, chemistry or some humanities subjects. This gives pharmacy students the advantage of a little more age and higher education before they start their training.
The Pharm.D degree consists of both theory and practical training under the supervision of an accredited pharmacist. Topics covered include all aspects of pharmaceutical drugs, but also patient care, ethics, and business management. A pharmacist training graduate can then apply to take the NAPLEX and MPJE exams set by the National Association of Boards of Pharmacy, and if these are passed, he or she will be rewarded with their license to work as a pharmacist.
On top of their certification, Pharmacists should have strong interpersonal skills, as they will most likely be in a role where they interact with the public on a day-to-day basis. It is also crucial that they have careful attention to detail, as any careless errors in dispensing medications may endanger their customers health. The reason the pharmacist salary is so high is that pharmacists are responsible for getting things right every time.
Employment Prospects
Employment prospects in this industry are very strong, and jobs are projected to increase at a rate of seventeen percent through to 2018. This growth is a positive indicator for the pharmacist salary, which should rise along with the demand for workers. Even now, employers in some areas are complaining of having difficulty finding qualified pharmacists to fill the gap left by workers retiring or moving into part-time hours.
This growth is a result of three main factors; firstly, the role being part of the ever-resilient healthcare industry, which is on the rise due to our growing population. Secondly, the growing cohort of middle-aged and elderly citizens requiring health care and medications. Thirdly, new medical technology and research means new pharmaceuticals becoming available for certain conditions, which increases the scope of people taking them. All this means that more people are relying on their local pharmacist than ever before, so once qualified you should have no trouble locking in a job and a high pharmacist salary.
Career Path
In many workplaces there are good opportunities for promotion beyond the basic role of pharmacist. After working for one employer for some time you may be promoted to supervisor, which would bring with it an increased pay. Larger companies may offer the opportunity to be promoted to a regional supervisory level, which could lead to an executive position at the company's headquarters. This type of work generally comes with a pay far greater than the basic pharmacist salary, along with possible perks such as yearly bonuses, a company car, and expense accounts.
There are also opportunities for experienced pharmacists in research, quality control, sales or marketing to name a few possible areas.
If you prefer the sound of working for yourself, many graduates get their start working for others and earning a pharmacist's wage, but plan to open their own drug store later in their careers. If you paid attention in your business management classes, this could also be a highly profitable career path!
For those who have not yet decided what direction to go in, occupations closely related to pharmacists include biological or medical scientist, pharmacy technician or dispensary assistant, physician or surgeon, and registered nurse. All these involve differing levels of education and pay, but they share a common interest in the medical field and similar personal skills.
Summary
The position of pharmacist can be very rewarding for the right candidate, not just in terms of pharmacist salary but also career advancement prospects and job satisfaction. If you enjoy medical science and working under pressure with attention to detail, as well as liaising with the public, then a career in pharmacy would be well suited to you. After the initial investment in training and certification, your efforts will be well rewarded with an average pharmacist salary of $109,380 per year, and a secure career with strong potential for growth.
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