A Pharm D is not going to start at $100k/year, but that does not mean they are not making a decent living. A lot of times people think that you have to be a doctor or a physical therapist to make good money, but the truth of the matter is most pharmacists make $45,000-$50,000 per year. Keep in mind this is before deductions and taxes so let’s say you take home around $30-$35k/year based off of your taxes. This alone for me says that it is doable for almost anyone to start pharmacy school. If you have aspirations beyond just being a pharmacist around the world there are opportunities to work overseas as well as within big name companies such as CVS..etc etc
Starting Salary For Pharm D Overview
You are just starting your Ph.D program, you have already completed your Bachelors, and you are ready to join the world of Pharmacy. You have always dreamt of becoming a pharmacist, but you are not sure how much it pays in Nigeria or abroad.
In this article, we will discuss the starting salary for a Pharm D in Nigeria and abroad.
The average starting salary for pharmacy graduates is between $65,000 – $75,000. The highest earning states are Washington DC ($84,000), California ($81,000), and Minnesota ($78,000).
Pharmacy School Tuition Costs:
The average tuition cost for Pharmacy School is about $25,000 per year. The tuition cost can range from $10,000 – $100,000 for each year of study. In most cases it will depend on whether or not you are able to get financial aid or scholarships that will help lower your tuition costs.
Tuition costs vary depending on what school you attend and if they offer any discounts on their tuition fees such as paying upfront instead of monthly installments over time like most schools require students to do nowadays due to budget cuts from state governments across the nation which means fewer resources available for both public and private institutions
Pharm.D: What is it about?
Pharm.D is an important course that deals with the study of pharmaceuticals, medicine and drug related practice.
- The course is divided into two stages. The first stage includes academic study. The total duration of this stage is for a period of 5 years. The second stage is the internship and residency training that involves pharmacy practice or clinical pharmacy service.
- The course was launched in India in 2008 and is regulated by the Pharmacy Council of India.
- Doctor of Pharmacy is a combination of science and art of dispensing medicines.
- Students are acknowledged as practical in clinical pharmacy, medical pharmacy.
- After completing the course, students are gained with the skills in diagnosis, therapeutics usage of drugs, treatment and selection of diseases, etc.
- They perform tasks like monitoring patients, diagnosing the disease, etc.
Pharm.D: What is it about?
Pharm.D is an important course that deals with the study of pharmaceuticals, medicine and drug related practice.
- The course is divided into two stages. The first stage includes academic study. The total duration of this stage is for a period of 5 years. The second stage is the internship and residency training that involves pharmacy practice or clinical pharmacy service.
- The course was launched in India in 2008 and is regulated by the Pharmacy Council of India.
- Doctor of Pharmacy is a combination of science and art of dispensing medicines.
- Students are acknowledged as practical in clinical pharmacy, medical pharmacy.
- After completing the course, students are gained with the skills in diagnosis, therapeutics usage of drugs, treatment and selection of diseases, etc.
- They perform tasks like monitoring patients, diagnosing the disease, etc.
Perceived pharmacist shortages
Certain experts continue to point to an aging Baby Boomer population, an increase in chronic disease, and the increasing demand for medications as drivers of the perceived shortage of pharmacists.
I’ve discovered in my research that it’s difficult to prove the existence of a pharmacist shortage because we tend to rely on symptoms to make our case rather than actual facts and figures. Although the demand for pharmacists isn’t decreasing, it’s absolutely true that growth in pharmacy is slowing compared to other healthcare professions.
The truth of the pharmacy industry is that demand varies based upon pharmacy setting, geographic region, experience, skill set, and a variety of other factors. As of Q3 2018, for example, the Pharmacy Demand Indicator showed that growth was slowest in the south and greatest in the west.
Additionally, the PDI predicts that growth in hospitals, non-retail settings, and physician’s offices will outpace mail and retail pharmacy.
Payscale.com Pharmacist Salary
Payscale.com reports that the average pharmacist salary, as of November of 2018, is $111,525, with a range of $76,457 – $133,619. The site also reports that after bonuses and profit-sharing programs were added, the total pay range for pharmacists was $84,830 – $136,940.
Just seven months earlier, in April 2018, the site reported an average salary of $111,000 with a salary range of $83,726 to $136,212, representing a growth of about .5%.
Like the PDI, Payscale.com found that the greatest growth existed in cities along the west coast.
Additionally, the site reports that skills in pediatrics, managed care and hospital pharmacy correlate to higher pay for pharmacists. Retail pharmacy, hospital education, oncology, and long-term care were among the most prevalent skill sets for pharmacists
Pharmacy Week Pharmacist Salary
Pharmacy Week joins forces with Mercer each year to create up-to-date salary information for pharmacists and other support staff.
Overall, Pharmacy Week reports that salaries increased overall, but that retail positions appear to trail other positions.
Most notable in the report was the first-ever decrease in base salary for retail pharmacists compared to 2017. It’s the first recorded drop in salary since the survey’s inception in 1995.
| Job Title | Hourly Pay Rate | +/- from 2016 |
| Staff pharm – mail order | $62.61 | +$4.04 |
| Staff pharm – satellite | $62.76 | +$1.70 |
| Nuclear pharmacist | $71.48 | +$3.67 |
| Staff pharm – retail | $61.57 | +$1.39 |
| Multiple average | $64.31 | +$2.64 |
| Staff pharm – hospital | $64.66 | +$2.68 |
| Clinical pharmacist | $66.02 | +$2.73 |
| Team manager | $72.49 | +$2.55 |
Pharmacy Week also generates a list each of year of pharmacist salaries by state.
Drug Channels Pharmacist Salary
Drug Channels reported earlier this year that the average pharmacist salary hit $120,000, but that growth in the industry trails other healthcare professions.
The outlet also reported that the number of hospital pharmacists increased and that those pharmacists saw higher salaries and greater salary increases than their counterparts in outpatient dispensing formats.
Retail positions declined in 2017 to 61.1% of employment from 65.2% in 2010. Over the same time span, hospitals’ share of employment climbed from 23.2% in 2010 to 25.4% in 2017.
Pharmacists working for mass merchants had the highest salaries with the smallest increases in average salary. Salaries at non-retail settings grew more quickly than their retail counterparts.
The average change in salary for pharmacists in 2017 was 1.35%, compared to 2% for other healthcare workers.
Drug Channels collaborates with BLS and the State Workforce Agencies for its salary data.
| Dispensing format | Total employment | Avg Annual Salary |
| Chain/Indep Stores | 136,400 | $121,420 |
| Supermarket pharmacies | 23,800 | $121,320 |
| Mass merchant pharmacies | 24,200 | $123,160 |
| Mail pharmacies | 4,600 | $121,010 |
Trends in Pharmacist Salary
The shift in pharmacy continues as the number of pharmacists in various formats shifts to meet the changing demand.
Though pharmacy doesn’t appear to be on the decline, trends suggest that pay for pharmacists is flattening out over time, perhaps in response to market saturation. As more new pharmacists graduate from school and enter the workforce, the trend will likely continue.
You’ve likely noticed that the average pharmacist salary varies according to the source, but we hope this information will provide tools for you as you negotiate salaries and contemplate new opportunities.
In 2017, 14 of the top 15 highest paid occupations were in healthcare, with pharmacists reaching the 45th most highly paid occupation.
We’ll continue to monitor the evolution of pharmacist salary and update you as new information becomes available. This information can help you make informed decisions about your pharmacy career and how you’ll proceed in the future.
