The 2016 edition of the Pharmacy Salary Guide is at long last ready for release. Let’s review the statistics on pharmacy salaries from 2015 before we move on to the data from 2016. Depending on the source of the data, full-time pharmacists earned anywhere from $90,000 to $140,000 in 2015, with the average annual wage falling anywhere between $112,000 and $119,000 for the profession.
In 2015, staff pharmacists working in mail-order pharmacies earned the least on average, with a rate of $56.69 per hour. This was the lowest pay of any sector. Clinical pharmacists had the highest hourly compensation, coming in at $61.28 on average, making them the top paid professionals overall behind team managers.
37% of pharmacists, on average, reported making between $61 and $70 per hour throughout their careers. In order to provide you with an accurate and comprehensive view of pharmacy wages across the United States, I gathered information from a variety of sources and compiled it into the 2016 Pharmacist Salary Guide.
- The good news is that a job as a pharmacist is still seen as respectable and steady, and it offers an income that is above average;
- This was the consensus among all of the sources that I checked;
- Survey Conducted by PayScale.com According to the findings of a study conducted by PayScale.com in 2016, the yearly earnings of pharmacists ranged from $84,000 to $134,000 on average;
At this time, the annual wage that constitutes the median is $108,267. The following are some of the most important factors that determine a pharmacist’s compensation (listed in order of importance):
Locality in which one resides Particular employer’s overall degree of experience
According to the data provided by PayScale.com, the amount of years of experience often does not have a significant impact on salary:
Earnings on average are $108,000 for those with 0-5 years of experience.
Earnings on average of $115,000 for those with 5-10 years of experience Earnings on average of $118,000 for those with 10-20 years of experience Earnings on average of $119,000 for those with 20 years of experience or more
PayScale.com found that within the first five years on the job, pharmacists saw a large boost in their average annual wages.
However, as pharmacists gain more experience, their average annual earnings begin to decrease. Drug Channels According to the figures compiled by Drug Channels, which were derived from the Occupational Employment Statistics collected by the United States Bureau of Labor Statistics (BLS) in 2014, the annual gross compensation for retail, mail-order, and specialty pharmacists is an average of $119,400.
The following figure provides a breakdown of total employment and average wage according to kind of dispensing: The Format of Dispensing Total number of employees with an average yearly wage Chain and independent drugstores 125,450 $119,420 Pharmacy concessions in supermarkets 23,240 $115,080 29,270 retail pharmacies with a total revenue of $123,000 pharmacies that are ordered online 3970 $117,200 There were 13,838 people who graduated from pharmacy school in 2014, which is an increase of 84.8% from 2003.
According to the American Association of Colleges of Pharmacy, it is anticipated that the number of graduates from colleges of pharmacy would rise to 15,632 by the year 2017. (AACP). Concerning Drugs: According to the findings of the 2016 Drug Topics survey, which was carried out in 2015, pharmacists indicate high levels of work satisfaction, increasing incomes, and reasonable hours.
- On the other hand, the poll discovered that pharmacists are experiencing heavier workloads in all practice settings and are receiving pay hikes that are not as significant as in years past;
- 81% of pharmacists surveyed in 2015 reported earning more than $100,000 in that year;
The majority of pharmacists, or 41.9%, made between $61 and $70 per hour in salary. The following figure presents, for the year 2015, a breakdown of the hourly salaries earned by pharmacists: The percentage of respondents earning an hourly wage $40 or less 3.
- 2% $41-$45 1;
- 9% $46-$50 6% $51-$55 16;
- 1% $56-60 23;
- 1% $61-$70 41;
- 9% $71 or more than it 7;
- 8% Pharmacists have indicated that their incomes are increasing, despite the fact that rises have been relatively modest:
The percentage of pharmacists who were awarded a pay increase in 2015 was 63.8 percent;
61.7 percent of pharmacists surveyed indicated that they anticipate receiving a pay increase in 2016.
The following figure presents, for the year 2015, a breakdown of the following yearly rises for pharmacists: Raise Amount Percentage of Respondents Who Participated under one thousand dollars 47.
6% $1000-$1999 10. 2% $2000-$2999 8. 1% $3000-$3999 5. 9% $4000-$4999 4. 4% $5000-$5999 3. 6% $6000-$6999 2. 2% A sum greater than $7000 18% A little less than twenty percent of pharmacists make between $121,000 and $130,000 annually.
The following chart presents a comprehensive analysis of the annual salary earned by pharmacists in 2015: Earnings of Pharmacists Each Year: A Percentage Breakdown of Respondents $70,000 or less 8. 7% $71,000-$80,000 2% $81,000-$90,000 3% $91,000-$100,000 5.
3% $101,000-$105,000 5. 6% $106,000-$110,000 5. 7% $111,000-$115,000 6. 7% $116,000-$120,000 9% $121,000-$130,000 19. 9% $131,000-$140,000 15. 9% $141,000-$150,000 7.8% for amounts of $150,000 or more 10. 4% While 52.
4 percent of pharmacists reported working between 40 and 44 hours per week, 28. 1 percent reported working 39 hours or fewer per week. Only 3.9% of pharmacists surveyed saw a decrease in workload, while 70.9% reported witnessing an increase in patient volume.
- In spite of the increasing workload, 78.3% of pharmacists questioned stated that they were content, very satisfied, or very satisfied with their employment, and the majority of them (74%) do not want to change occupations within the next year;
PharmacyWeek In collaboration with Mercer, PharmacyWeek carries out an annual poll of pharmacists across the country about their salaries. In 2015, pharmacists reported earning an average hourly income of $60.88, showing an increase of slightly more than $1 compared to the average reported hourly wage in 2014.
In 2014, pharmacists reported earning an average hourly wage of $60.60. However, the hourly rate might be rather different for each job title held by a pharmacist, as well as the environment in which they work and the field of pharmacy that they specialize in.
According to a poll conducted by Pharmacy Week in 2015, the following is a breakdown of the average hourly income for a variety of job titles within the pharmaceutical industry: Position Title Hourly Wage Rate Plus or Minus From 2014 Pharmacist on staff who handles postal orders $56.
- 83 $0;
- 14 Licensed pharmacist on staff — satellite $60;
- 57 $3;
- 50 Nuclear pharmacist 66.31 dollars and 8.29 dollars Retail sales for the staff pharmacist come to $58.55 minus $0.46;
- Multiple average $60;
- 88 $1;
- 05 Pharmacist working on staff at the hospital $60;
75 $0. 63 Clinical pharmacist 62.30 dollars 1.02 dollars Team manager $69. 05 $1. 76 The results of this poll indicate that hourly pay for retail pharmacists have decreased by 46 cents, while wages for mail-order pharmacists, hospital pharmacists, team managers, and clinical pharmacists have somewhat increased.
Nuclear pharmacists have eclipsed clinical pharmacists as the highest-paid speciality after seeing considerable increases in their hourly earnings. Satellite pharmacists also witnessed big gains in their hourly wages.
The West Coast is home to the highest paying region for pharmacists, with an average hourly wage of $68.07 and a yearly salary of $141,600. In contrast, pharmacists in the Northeast earn the least, with an average hourly wage of $56.75 and a yearly salary of $118,000.
The state of California has the highest pay for pharmacists in the United States, with an hourly rate of $70.61 and an annual salary of $146,900 on average. The pay for pharmacists in Puerto Rico is the lowest in the United States, with an average hourly wage of $45.89 and an annual salary of $95,500.
The following is a breakdown, by state, of the average annual and hourly earnings earned by pharmacists: Statewide Typical Hourly Wage and Statewide Typical Annual Wage Alabama $121,300 $58. 33 Alaska $132,000 $63. 46 Arizona $125,500 $60. 36 Arkansas $122,600 $58.
- 92 $146,900.61 Worth of Real Estate in California Colorado $117,900 $56;
- 67 Connecticut $123,700 $59;
- 48 Delaware $122,700 $59;
- 00 Florida $117,600 $56;
- 52 Georgia $118,500 $56;
- 97 Hawaii $121,200 $58;
- 27 Idaho $117,000 $56;
23 Illinois $120,300 $57. 84 Indiana $118,200 $56. 83 Iowa $114,200 $54. 93 Kansas $123,200 $59. 22 Kentucky $126,900 $61. 00 Louisiana $118,900 $57. 18 Maine $129,500 $62. 24 $117,500 in Maryland, $56.47 in Massachusetts, and $119,100 in Massachusetts. Michigan $115,400 $55.
50 Minnesota $122,900 $59. 09 Mississippi $120,300 $57. 83 Missouri $119,400 $57. 39 Montana $116,200 $55. 84 Nebraska $112,000 $53. 86 Nevada $131,700 $63. 32 New Mexico – $124,700 – $59 New Hampshire – $123,200 – $59 New Jersey – $120,300 – $57 New Mexico – $124,700 – $59 New York 124,500 dollars 59.88 dollars $121 700 Dollars and 58.49 Cents North Carolina State of North Dakota Data not accessible Data not accessible Ohio $117,400 $56.
43 Oklahoma $116,000 $55. 76 Oregon $124,400 $59. 82 Pennsylvania $114,200 $54. 90 Puerto Rico $95,500 $45. 89 Rhode Island $118,400 $56. 92 $125,800 and $60.46 for South Carolina. $113,200.54.40 USD owed by South Dakota Tennessee $119,800 $57. 59 Texas $119,100 $57.
25 Utah $120,700 $58. 04 Vermont $123,200 $59. 25 Virginia $122,900 $59. 08 The District of Columbia $122,700 $59.01 $124,800 and $600 Washington, District of Columbia West Virginia $124,200 $59. 72 123 400 dollars and 59.
31 cents for Wisconsin Wyoming $122,100 $58.69 Hospital and health system pharmacists make the most money, with an average annual salary of $127,700 and a starting hourly wage of $61.41. Pharmacists who work in supermarkets earn an average annual salary of $125,200, or $60.21 per hour; those who work in mass merchandisers earn an average annual salary of $123,000, or $59.12 per hour; and those who work in chain drug stores earn an average annual salary of $122,500, or $58.91 per hour.
- The average annual salary for a mail-order pharmacist is $119,200, which equates to $57.31 per hour;
- This salary is the lowest of all pharmacy specialties;
- BLS 2014 Report According to the Bureau of Labor Statistics’ (BLS) data from 2014, there are now 297,100 positions available in the field of pharmacy in the United States, and the typical salary for pharmacists is $120,950 per year, or $58.15 per hour;
According to the study from the BLS, the pharmacy business is anticipated to develop at a rate that is slower than the average rate of 3%, gaining 9100 jobs between the years 2014 and 2024. The 2014 Rankings Provided by U.S. News and World Report In 2014, the most recent year for which statistics are available, “Pharmacist” was listed as No.
18 on the list that U.S. News & World Report compiled of the best-paying jobs in the country. According to the article, the annual median wage was $120,950, which is equivalent to $58.15 per hour, which is in line with the findings of the BLS data from 2014.
The highest-earning 10% of pharmacists bring in an annual salary of $150,550.
The annual salary of pharmacists in the bottom 10% of the pay scale is $89,320.
According to the information provided in the publication, the metropolitan areas of Santa Cruz, California, Gadsden, Alabama, Chico, California, Anniston, Alabama, and Fresno, California are home to some of the most well-paid pharmacists in the country.
These pharmacists work for scientific research and development companies. AACP Although academics continue to receive the lowest compensation among pharmacists, the average full-time faculty salary climbed to $104,400 in 2015-2016, up from $103,100 in 2014-2015.
This is despite the fact that academics continue to earn the lowest salary among pharmacists. Conclusion If you’ve read thus far, you’ve undoubtedly learned that the information you use to gather compensation statistics for pharmacies might vary according on the source.
- Nevertheless, it is safe to say that pharmacists all across the United States have seen modest increases in their salaries this year, and that a career as a pharmacist continues to be a well-paying gig;
This is because the cost of living in the United States has increased slightly over the past year. Since 2015, not much has changed in reference to the differences in salaries based on geography. Due to the greater cost of living in California, pharmacists there continue to have the highest average salaries in the United States.
- The greatest salaries go to nuclear pharmacists, while hospitals and health institutions are the most lucrative work environments overall;
- Consequently, regardless of whether you are a pharmacy student wondering how quickly you will be able to pay off your student loans after landing your first job or a hard-working retail pharmacist looking for fodder to make a case for a raise, I hope that the information presented here has provided you with some food for thought and proves useful as you begin or continue your career;
If you have any questions or comments, please let me know in the section below.
Who makes more money pharmacist or pharmacologist?
In the United States of America, the annual income for pharmacologists is an average of $96,811 whereas the annual compensation for pharmacists is an average of $119,630.
Do pharmacists make six figures?
Pharmacists in the state of California make six figures yearly, which is one of the highest wages in the country and among the top in the world.
How hard is it to pass Naplex?
Is the NAPLEX a difficult test? – The NAPLEX is famously tough, as seen by the relatively low pass rate of roughly 82% over the past couple of years. You have nothing to worry about as long as you put in the effort to ensure that you will be properly prepared on the day of the test.
Is pharmacy a good field?
People will look up to you because of the work that you do – One of the medical professions that is held in the highest esteem and is trusted the most is that of the pharmacist. According to a Gallup Poll conducted in 2015, pharmacists were recognized as the second most honest and ethical professions (after nurses), and 68% of Americans assessed their honesty and ethics as “high” or “very high.” Nurses were ranked as the most honest and ethical profession overall.
And not without good reason. According to Moss, a person’s history needs to be spotless for them to be able to work as a practicing pharmacist. “If there is any kind of professional blemish, and it could be as minor as not renewing your continuing education requirements or as major as a DUI, the Board of Pharmacy maintains a very accessible database on every pharmacist,” Moss says.
“It could be as small as not renewing your continuing education requirements or as major as a DUI.” “Even if it is possible to get your license reactivated, the information on you will remain accessible to others and will not be deleted from the database.” Moss claims that the database is the very first thing he looks at while doing applicant evaluations.
- According to Moss, “almost all employers will throw a person out of consideration for employment if there is any type of blemish on the database.” “Pharmacists are expected to lead lives that are untainted and focused on morality;
Genuine honesty is of the utmost significance.”.
What is the field of pharmacy?
A doctorate is required to enter the field of pharmacy, which is a health care career in which licensed practitioners supply patients and other health care professionals with information regarding pharmaceuticals. Pharmacists, who are sometimes referred to as “medication specialists,” are concerned with protecting the public’s health in concerns pertaining to the distribution and administration of medications as well as the management of disease states.
Is pharmacy the right career for me?
The field of pharmacy is consistently ranked among the top jobs in terms of salary potential. As of 2016, more than ninety percent of pharmacists reported making more over one hundred thousand dollars annually. 45.4% of individuals who reported having an annual wage had an annual income that fell between $120,000 and $140,000.