The average pharmacist salary with a master’s degree is $105,000 per year. This is based on a survey conducted by the U.S. Bureau of Labor Statistics in 2017 and released in 2018.
The survey found that the mean annual wage for pharmacists was $111,520 per year. The median was $109,160 per year. The lowest 10 percent made less than $98,260 per year, while the highest 10 percent earned more than $145,320 per year.
Those with a master’s degree had an average annual salary of $105,000 per year, which was 0.5 percent higher than those with only a bachelor’s degree and 1.3 percent higher than those who only had an associate degree or no college degree at all.
The average pharmacist salary with a master’s degree is $105,000 per year. This is based on a survey conducted by the U.S. Bureau of Labor Statistics in 2017 and released in 2018.
The survey found that the mean annual wage for pharmacists was $111,520 per year. The median was $109,160 per year. The lowest 10 percent made less than $98,260 per year, while the highest 10 percent earned more than $145,320 per year.
Those with a master’s degree had an average annual salary of $105,000 per year, which was 0.5 percent higher than those with only a bachelor’s degree and 1.3 percent higher than those who only had an associate degree or no college degree at all.
Pharmacist Salary With A Master’s Degree
What Is the Salary Range for Pharmacists?
Pharmacists fill prescriptions and answer questions their customers may have about their medications; they may also explain the side effects of medications. Keep reading to learn more about what pharmacists earn, how the job prospects are and what it takes to enter this career.View Schools
Education and Training Overview
Pharmacists in the U.S. are required to hold a Doctor of Pharmacy (Pharm.D.) degree. To earn this advanced degree, you typically need to complete about four years of classroom and research study. Some programs include residency programs that allow you to work on a research project or gain experience in the field. After you complete your education and training, you may take the required licensing examinations.
In a Pharm.D. program, you typically study chemistry, biology, human anatomy and physiology. You may also study natural and homeopathic drugs, including their origins and applications. Pharmacy law, professional ethics and pharmacology, which is how drugs interact with human tissues and systems, are additional important areas of study.
Important Facts About This Occupation
| Entry-Level Education | Professional degree or doctorate |
| Similar Occupations | Biochemists and biophysicists, medical scientists, pharmacy technicians |
| Work Environment | Pharmacies, commonly in grocery and drug stores |
| Key Skills | Analytical, computer, communication, and managerial skills; detail-oriented |
Career Outlook
The overall employment of pharmacists is expected to grow by 3% between 2019 and 2029, according to a report from the U.S. Bureau of Labor Statistics (BLS, www.bls.gov). Some factors affecting growth include the use of more medications by the older population and the production of new medications that will need to be dispensed by more pharmacists.
Salary Overview
The BLS reported that the median annual salary for a pharmacist was $128,710 as of May 2020. The highest earning 10% made $164,980 or more, and the lowest earning 10% made $85,210 or less per year. Factors affecting salary include industry, location and experience level.
Salary by Industry
As a pharmacist, your salary can vary depending on where you work and who you work for. According to the BLS, the mean annual salaries for the five industries employing the most pharmacists in May 2020 were the following:
- Health and personal care stores: $122,860
- General medical and surgical hospitals: $128,310
- Food and Beverage stores: $124,120
- Merchant wholesalers, non durable goods: $124,470
- Outpatient care center: $147,130
The BLS also reported that the following industries had the highest mean salaries at that time:
- Outpatient care centers: $147,130
- Grant making and giving services: $142,010
- Medical and diagnostic laboratories: $134,740
- Warehousing and storage: $133,250
- Local Government, excluding schools and hospitals (OEWS Designation) : $133,250
Salary by Location
The May 2020 salary figures from the BLS also showed how pharmacist salaries depended on your location.
Three states paying the highest mean wages for pharmacists included:
- Alaska: $147,040
- California: $146,070
- Oregon: $136,700
Three metropolitan areas with the highest mean annual pay included:
- Madera,CA: $165,350
- Santa Maria-Santa Barbara, CA: $162,540
- Vallejo-Fairfield, CA: $161,120
Salary by Experience Level
In 2021, PayScale.com reported salary ranges for pharmacists based on years of experience. This source’s findings were as follows:
- 0-5: $102,361
- 5-10 years: $120,410
- 10-20 years: $121,096
- 20 years or more: $122,160
