Pharmacist Salary Thread

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I read the FAQ about pharmacist salaries and I still have a question. What is the upper limit for pharmacist salaries when overtime is taken into account? Do a lot of pharmacist work overtime and how much does it increase their salaries? Thanks!
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I assume he means most areas, i'm interested in the overtime information; haven't read a lot about that.

Clinical/Retail / A solid 'independent'
 
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I was once told that a clinical pharmacist can make up to 120K.
 
I know a guy who's hiring a 'hospital/clinical' staff pharmacist. Work 24 hours per week, get paid for 34 with 9 hours overtime at base hourly pay of $63 per hour without beneifts or with benefits at $55 per hour.

Do the math.
 
MIKEJACK5 said:
I read the FAQ about pharmacist salaries and I still have a question. What is the upper limit for pharmacist salaries when overtime is taken into account? Do a lot of pharmacist work overtime and how much does it increase their salaries? Thanks!
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A colleague of mine made seventy grand over and above his base salary working 20 hours a week for an agency at 65 dollars an hour last year --he has a daughter in uni back east
 
Hi there. I was wondering, where I could get info about pharmacists salary based on the field that they are working in?
 
i would check salary.com; it has everything: from clinical to nuclear pharmacist to whatever...but i'm pretty sure that there are better sites.
 
Thanks lucky pharm. I checked that, i guess retail still pays the most.
Is anyone going to michigan here?
 
hi just a curious question, will pharmacist salary increase soon or later?
 
Does anyone know what the average resident salary is? I imagine that it's in the 30-40K range, but I was just curious. Also, are you able to defer your loans during residency like med students can?

Thanks!
 
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Moxxie said:
Does anyone know what the average resident salary is? I imagine that it's in the 30-40K range, but I was just curious. Also, are you able to defer your loans during residency like med students can?

Thanks!
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you're right about the salary..
i have no idea about the loans

it may also depend on the residency as some of them offer a degree to go with it so you would still be a full time student
 
Moxxie said:
Does anyone know what the average resident salary is? I imagine that it's in the 30-40K range, but I was just curious. Also, are you able to defer your loans during residency like med students can?

Thanks!
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Yep, the price range is typically 30-40k/yr w/ most programs trying to get closer to 40k/yr and with many in ranging from 40-45k/yr.

The residency search engines typically list the resident salary (or list the website for program where you can find out more about the program) within the description of the program. May want to check out:

http://www.accp.com/resandfel/

(actually I think ACCP lists stipends, some of the data may be out of date. In particularly, I think VA residents may still be listed as making 33k/yr but have since been pushed up to 38k/yr so I'd check websites if possible)

http://www.ashp.com/directories/residency/
 
kwizard said:
(actually I think ACCP lists stipends, some of the data may be out of date. In particularly, I think VA residents may still be listed as making 33k/yr but have since been pushed up to 38k/yr so I'd check websites if possible)

http://www.ashp.com/directories/residency/
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I'm getting $35,000 per annum. This was up from $30,000 at the beginning of the year. I was told that this amount was set nationally by the Department of Veterans Affairs in Washington, DC, but I'm not exactly sure about that.
 
kwizard said:
Yep, the price range is typically 30-40k/yr w/ most programs trying to get closer to 40k/yr and with many in ranging from 40-45k/yr.

The residency search engines typically list the resident salary (or list the website for program where you can find out more about the program) within the description of the program. May want to check out:

http://www.accp.com/resandfel/

(actually I think ACCP lists stipends, some of the data may be out of date. In particularly, I think VA residents may still be listed as making 33k/yr but have since been pushed up to 38k/yr so I'd check websites if possible)

http://www.ashp.com/directories/residency/
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It is hard to believe cause my brother was getting around 30000 while he was doing medical residency. Although that was like 5-6 years ago...
 
Thanks everyone! Choosing to pursue a residency is a ways off for me, but I was curious.

Here's another question - what are the hours like for a residency? I've heard horror stories about med residents working 60-80 hours/week, but the clinicians and residents (PharmDs, not MDs) at the VA that I've shadowed definitely don't work that much.
 
I was checking the residencies in the Tampa Bay area online yesterday. I found one that paid 50K, but most were about 35K.
 
Moxxie said:
Does anyone know what the average resident salary is? I imagine that it's in the 30-40K range, but I was just curious. Also, are you able to defer your loans during residency like med students can?

Thanks!
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Yes, the salaries are around that range, there are some lower (in the upper 20s) and some higher 40-45s).

Deferring your loans are differnet compared to med students. because a residnecy is needed to practice as a MD, you can defer your loans, no matter how much you have. SInce pharmacy residency's are not needed to practice as a RPh, you can only defer your loans using the economic hardship defermant. WHich means if you only have 40, 000 or so in loans, you will have to make payments during your residency. Basically youwill have to prove your monthly payment is more than 1/2 of your monthy salary ( or right around there, i don't remember the exact % anymore).

About the hourse, yeah, some weeks you will be putting in 60+ hours, especially when its project time. It's all about time managemnt, some poeple are going to put in less hours/week becuase they are very efficient while others doing the exact same residency will only put in 40 hours. And no, you don't get overtime for the extra hours.

Hope this helps!!
 
Moxxie said:
Thanks everyone! Choosing to pursue a residency is a ways off for me, but I was curious.

Here's another question - what are the hours like for a residency? I've heard horror stories about med residents working 60-80 hours/week, but the clinicians and residents (PharmDs, not MDs) at the VA that I've shadowed definitely don't work that much.
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Gotta understand that residency for pharmacy is not even close to intensity to medical residency. Some places are more intense than others however. Also which rotation you are on depends on how tough the hours are. What may put more hours on for you, in all kinds of projects that you have to do. You have one for and end of year conference/project presentation, plus however many little journal clubs, case presentations or whatever. But you will be putting in I'd say a solid 50 hours more or less per week on avg. Depending on how dedicated you are and how much you want to impress your preceptors will depend how much you spend there, also depends on where you are doing your residency. As far as Kristakoch saying about efficiency, I dont' agree, b/c if you are consistently leaving too early, say 40hrs, either residency is way too easy, or they will find extra projects for you to do to make up. You are more or less cheap labor that can do extra projects when needed and you will be utilized to your full potential at most places. Expect anywhere from 50 to 60 hrs, maybe more if you are ultra hyped. But also remember that as part of residency they usually use you to work either every other or every 3rd or fourth weekend just staffing. So it won't be fun time by any means. But it's probably more like a derm residency and not a surgical residency.

Biggest time consumer is not neccessarily the time at the hospital but its more the projects that you have to do.
 
I'll concur with what tupac_don just said. Critical care has been my toughest rotation yet, but I get in real early, and get done with my patients by lunch time. The rest of my day is filled with working on other extra-rotation projects, like the residency research project, and even worse, the CE class I have to teach next month. Unlike other residencies, you are loaded with projects. I didn't even mention the regular journal clubs, preparing agendas for and taking minutes at P&T meetings (some places make you present drug monograps), and staffing.

Well, Moxxie, I must admit that the staffing requirement at my residency is, ummm, less restrictive than at other institutions. I work in the outpatient pharmacy 4 hours/week, on Tuesday afternoons. This usually involves me working in a small office, counseling patients and verifying/finalizing physician entered rx's. This is nothing compared to my colleagues across the street at the U of U. ;) I do run a continuity of care clinic on Fridays, where I see 3 or 4 patients for medication management. That's my other longitudinal responsibility.
 
I was thinking about pursuing a residency but its hard not to go straight for the job and the money. Perhaps some of you could answer a few questions for me....

Do the residents get any tax breaks? (I was wondering if the government gave tax breaks to residents in the same way that students get them).
So if you were getting a $40K stipend, what would the monthly take home pay be after tax, social security etc? (I know that this varies state to state, so just looking for a ball park fig.)

Thanks.
 
al_rx said:
I was thinking about pursuing a residency but its hard not to go straight for the job and the money. Perhaps some of you could answer a few questions for me....

Do the residents get any tax breaks? (I was wondering if the government gave tax breaks to residents in the same way that students get them).
So if you were getting a $40K stipend, what would the monthly take home pay be after tax, social security etc? (I know that this varies state to state, so just looking for a ball park fig.)

Thanks.
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None that I can think of. I guess taxes account for anywhere from 20-30% of your take home depending on state. Main financial benefit is having loans deferred (i.e. economic hardship so interest doesn't accrue, this was explained in a previous post). Easiest way to get around financial barriers of residency training is to pursue training in a program (typically the VA and/or managed care system) that is primarily </=50hrs/wk and moonlight to supplement salary. If finance is an issue I'd stay away from those programs that make you sign a contract limiting or prohibiting moonlighting activity. For example avg VA residency is 0800 or 0700 to 4:30pm and typically every 3rd wknd staffing or possibly no wknd staffing at all depending on facility so that gives ample time to have a life outside of work and or moonlight to pay the bills or support family so you can start to enjoy things a little more. Please don't let the financial issues be your reason for not doing a residency as you may regret it down the road. In all honesty the outcomes of pharmacy residency training are variable; however, completing residency training simply provides more options and room for career advancement on the avg, especially if you are a "go-getter". Also the money will always be there.
 
It seems that a lot of people believe that retail pharmacy caps out. Thats simply not true because most retail pharmacist dont get paid by salary. They get paid by the hours. How much you want to make is up to you. At Rite Aid, I know a few pharmacist raking in 150k a year as staff from working overtime and graveyard shifts or 5 days a week. If you work 7 days a week, its possible to rake in more than 200k.
 
That's a cap then isn't it? If you're paid by the hour, there's only so many hours you can work.
 
If most are not making more than $55 or so an hour then that sure sounds like the approx. hourly wage cap. Beyond that aren't you just relying on more hours (or the less sleep!) to make more money.
 
dgroulx said:
Hey Rache,

My MSN name is [email protected] and my IM name is JamisRider.

The walgreens info is on their web page. www.walgreens.com. Go to career opportunities and follow the links.
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hey kiddies can IM you all as well; im a central florida dude. lived in cali for 5 yrs on the Army's Dime

my daughter lived up in SAC for 8 yrs they took equity from house in cali and are living like kings in JAX.

AZ cost of living was starting a upward trend when i left in 02.

i dig the lack of state tax here in FLA.

miss the mountains though.

peace out
be safe

brett
 
What's up with all these "blast from the past" posts?
 
Hehe I love how Tucson is so cheap, $350 for apt. in frat house - $450-550 for apartment (2 bed).

I would love to eventually move into management positions (within Walgreens for example) - is the dual PharmD/MBA required? Can you have soely a PharmD and still work your way up considerably on the business chain of a retail chain (after working as a Pharmacist for a while)?
 
BiOGoly said:
What's up with all these "blast from the past" posts?
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Yeah. See how friendly Legrita was until she got sucked into PBA? We wrote and IMed until she started classes, then not a peep.
 
BiOGoly said:
What's up with all these "blast from the past" posts?
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man these old posts are fantastic!

its so funny to look back on everything....

ahhh i remember the way i was back in the day....
 
BiOGoly said:
What's up with all these "blast from the past" posts?
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I was wondering the same thing. A new member is really digging deep for these. :p
 
When considering a Pharm. D. degree, does it matter where I get it from? Does going to a school like St. John's make any difference from going to Rutgers (which I've heard was ranked higher, but I still am not sure about?) I've made St. John's but I didn't apply to Rutgers. I know I could transfer in the future, but I'd like to know what the difference is, if any, in where I get my degree from. Will a degree from a more reknown institution get me better/varied job opportunities, a higher salary, etc.? And say there is a difference; as slight as it might be, what can I do to make up for it (both while I'm working towards my degree or after I get the job)?

Thanks everybody.
 
I seriously doubt it would make any difference, particularly in retail. I can see it giving you an advantage when competing for residency spots, but thats it. Remember too that rankings are usually always based solely on the amount of research money that particular school of pharmacy brings in from grants.
 
Shizelbs said:
I seriously doubt it would make any difference, particularly in retail. I can see it giving you an advantage when competing for residency spots, but thats it. Remember too that rankings are usually always based solely on the amount of research money that particular school of pharmacy brings in from grants.
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wow i really had no idea about the rankings. but i don't really know about residency spots though. can you tell me something about them? I haven't heard anything about them at all to tell you the truth.
 
ConfusedBeing23 said:
wow i really had no idea about the rankings. but i don't really know about residency spots though. can you tell me something about them? I haven't heard anything about them at all to tell you the truth.
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To no more about residencies, please see the following:
http://forums.studentdoctor.net/showthread.php?t=286614

As far as what school you go to I'd agree w/ the previous post that nobody really cares as long as you pass the boards. The rankings are also based on prestige of the school. Basically the surveys are typically sent out to Dept Head, Deans, professors, etc. and they are asked which schools are the best based on various criteria (i.e. research, prestige, etc.) Naturally most Deans will vote for their alma mater or their current school which is why most of the same schools tend to stay in the top 5. So basically take the rankings w/ a grain of salt b/c what is impt to the Dean of your school may not be impt to you. Even w/ residency training the school you go to may just help you w/ connections and so forth, but really wouldn't change anything considering you are a competitive applicant (i.e. GPA >3.0, extracurriculars in school, pharmacy experience). Reality is that unless you are trying to get a really prestigious residency spot the programs really aren't that competitive.

As far as pay...regardless of the school you go to it really doesn't matter. The main indicator of pay will be the geographic area you live in and the avg pay for pharmacists in that area. Yeah some things are a little negotiable, but coming straight out of school (residency training or not) you kind of have to take what you get fiscally as negotiation is minimal given lack of experience so early in your career.
 
I've noticed on my hospital rotations that the pharmacists in charge all seem to have their degrees from UF. If they had a BS Pharm degree, they still got their PharmD afterwards from UF. At my last rotation, they hired two pharmacists recently - both from UF. So, if the people doing the hiring graduated from your school there is an advantage.

For retail, you just need to pass the boards and be able to breathe.
 
Taking a crap job with no help in the dangerous part of town during graveyard shift, 7-on-7-off in a pharmacy that's been robbed 20 times in the last 5 years --> Higher salary.

Wear kevlar and buy a 12 guage riot shotgun. It's risky, but, hey, you'll be able to drive a BMW and live in a $400000 house before you are 28.
 
WVUPharm2007 said:
Taking a crap job with no help in the dangerous part of town during graveyard shift, 7-on-7-off in a pharmacy that's been robbed 20 times in the last 5 years --> Higher salary.

Wear kevlar and buy a 12 guage riot shotgun. It's risky, but, hey, you'll be able to drive a BMW and live in a $400000 house before you are 28.
Click to expand...
:laugh: :laugh: :laugh:
 
ConfusedBeing23 said:
When considering a Pharm. D. degree, does it matter where I get it from? Does going to a school like St. John's make any difference from going to Rutgers (which I've heard was ranked higher, but I still am not sure about?) I've made St. John's but I didn't apply to Rutgers. I know I could transfer in the future, but I'd like to know what the difference is, if any, in where I get my degree from. Will a degree from a more reknown institution get me better/varied job opportunities, a higher salary, etc.? And say there is a difference; as slight as it might be, what can I do to make up for it (both while I'm working towards my degree or after I get the job)?

Thanks everybody.
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And also Confused 23...I wouldn't depend on transferring to a different pharmacy school. This is extremely RARE, and during my years in pharmacy school, there was not 1 student that came in midway through...it just doesn't happen much. Hope this helps! ;)
 
This thread is really helpful. Only if I had known about this before I applied my first time around. As a resident of California and graduating from UCB, my pride wouldn't allow me to apply to Western univ or Touro just because they weren't rank or well known. After not getting into any schools the first time around, I feel so stupid and regretful for not applying to those schools.
 
mustangrolla said:
This thread is really helpful. Only if I had known about this before I applied my first time around. As a resident of California and graduating from UCB, my pride wouldn't allow me to apply to Western univ or Touro just because they weren't rank or well known. After not getting into any schools the first time around, I feel so stupid and regretful for not applying to those schools.
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Well...it's never too late mustangrolla. The people that are going to do big things will do so wherever they go...you can shine in whichever program you decide to attend.
 
dgroulx said:
I've noticed on my hospital rotations that the pharmacists in charge all seem to have their degrees from UF. If they had a BS Pharm degree, they still got their PharmD afterwards from UF. At my last rotation, they hired two pharmacists recently - both from UF. So, if the people doing the hiring graduated from your school there is an advantage.

For retail, you just need to pass the boards and be able to breathe.
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So all of the pharmacists at that hospital, the hospital that I'm guessing is in Florida and somewhere close to UF, all came from UF. Interesting. :rolleyes:
 
"For retail you just need to pass the boards and continue to breathe" :laugh:

Years ago I heard about a guy who had a fatal heart attack while working in a pharmacy. A pissed off pt called management because she could see his feet, but he wouldn't respond to her. Altho he died, he was paid for all hours of his last day of life - not just until he died - sick, but true :oops: !

Seriously....in my area of CA - PharmD's all get paid the same no matter where you received it as long as you're all doing the same work. Now...it is a different story if your question is what do you want to do with your PharmD after you receive it. Then it really does matter where you went.
 
I graduated in the inaugral class of a new school in PA and moved to Indiana. I make the same amount that those who went to top 5 state school. Where you graduate from makes little difference for retail when it comes to salary.....
 
I think this is an interesting misconception regardless of the degree. I went to Yale for my BS and people always assume that I make more than they do. If you are in a corporate environment there are salary brackets, HR doesn't just make up a salary value based on where you went to school.

In my old research group (drug development) there were four of us on one project, all started at the same time...Yale, Harvard, MIT and Ball State alumni...the guy from Ball State made more than we did because of his experience.

My 2 cents. :D
 
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