When considering Pharmacist job, it is important you note this. If there are more open positions and fewer people to fill them, note. It’s easier to get a job, and thus, pharmacists’ salary would likely increase.
However, if there are fewer job openings and a bunch of pharmacists looking for jobs, it will take longer to find employment. Also, income could stagnate and even go down. In this article, you shall read a lot. First, let’s take a look at the job market for pharmacists.
Pharmacist Job Outlook Statistics
When considering a Pharmacist job, it is important you note this. Below are the outlook for the pharmacist job market:
- There were 314,300 pharmacist jobs in 2018 in the U.S.
- Also, the Bureau of Labor Statistics projects 0% growth over the next 10 years.
- Furthermore, the number of pharmacist jobs will contract by 200 positions to 314,100 in 2028.
- Thus, approximately 15,000 pharmacists graduate yearly. This is when a projected zero new pharmacist jobs are being created.
In my conversations with industry experts, perhaps the retirement rate of pharmacists will be a couple thousand each year.
At a minimum, it seems as if a net 10,000 pharmacists will be entering the labor force yearly with nowhere to go. Because of the earlier mention of supply and demand, we would expect massively declining hours, reduced pay, and less attractive working conditions for the future.
Where Pharmacy Job Growth Comes From
When considering a Pharmacist job, it is important you note this. Out of the pharmacist job growth that is expected, much comes from the hospital setting. Hospitals are seeing more value in having clinical pharmacists on hand. As such, they can dispense and monitor patient responses to medication. As well as patient outcomes.
However, please note this, This does not go well for pharmacists with student loan debt. Most hospitals would be qualifying employers to get Public Service Loan Forgiveness (PSLF). This could save PharmDs a lot of money by paying back their student loans. That is, if you can get a job.
Also, places like Walmart, CVS, Walgreens, Target, and Express Scripts are still supplying a lot of those jobs at the moment in the private sector. But those companies set up shop and got in the game quickly. It may have been too quick. This is because now they’re starting to reduce full-time pharmacist positions.
Career, Salary and Education Information
When considering a Pharmacist job, it is important you note this. It is important to note this. Pharmacists dispense prescription medications to patients. Also, they offer expertise in the safe use of prescriptions. Furthermore, pharmacists work in pharmacies, includes those in drug, general merchandise, and grocery stores. Also, they work in hospitals and other healthcare facilities.
As a Pharmacist, you must have a Doctor of Pharmacy (Pharm.D.) Also, you must have a 4-year professional degree. Furthermore, you must be licensed. This requires passing two exams.
The median annual wage for pharmacists is $126,120. Employment of pharmacists is projected to show little or no change over the next ten years. Thus, employment in retail pharmacies will be affected by increasing sales via mail order and online pharmacies.
Pharmacist Job and Duties of Pharmacists
Pharmacists typically do the following:
- Fill prescriptions, verifying instructions from physicians on the proper amounts of medication to give to patients
- Check whether prescriptions will interact negatively with other drugs that a patient is taking or any medical conditions the patient has
- Instruct patients on how and when to take prescribed medicine and inform them about potential side effects from taking the medicine
- Give flu shots and, in most states, other vaccinations
- Advise patients about general health topics, such as diet, exercise, and managing stress, and on other issues, such as what equipment or supplies would be best to treat a health problem
- Complete insurance forms and work with insurance companies to ensure that patients get the medicines they need
- Oversee the work of pharmacy technicians and pharmacists in training (interns)
- Keep records and do other administrative tasks
- Teach other healthcare practitioners about proper medication therapies for patients
Top 3 Pharmacist Jobs
When considering a Pharmacist job, it is important you note this. Below are some of the types of jobs Pharmacists do:
Ambulatory Care Pharmacist – CHRISTUS Health
This job provides direct patient care at a designated CHRISTUS Trinity Clinic location. This is as part of a pharmacist -run anticoagulation and primary care .
Pharmacist – Staff – CVS Health
As a Staff Pharmacist, you have a critical role at the forefront of delivering our purpose, modeling our values, and demonstrating genuine, authentic care for our patients. In addition to supporting …
Pharmacist – Pharmacy – CHRISTUS Health
When considering a Pharmacist job, it is important you note this. The Clinical Pharmacist is a registered pharmacist. He or she recommends and manages patient-specific medication therapies. This is in accordance with Medical Staff-approved policies and procedures.
The Job Market for Pharmacists
When considering Pharmacist job, it is important you note this. It may seem like the job market for pharmacists is growing rapidly. But we’ve heard from hundreds of pharmacists here at Student Loan Planner that it’s not the case. Also, residency is now becoming a thing for pharmacists. Though this leads to much better training, it’s not great for salaries. It means hospitals can pay less for pharmacists right out of school.
Also, Pharmacists often get the short end of the stick. This is as these major pharmacy chains try to cut costs by hiring many part-time employees instead of paying for full-time benefits. This is because of all of the people now being accepted and graduating with a PharmD. Hospitals can do this because the pharmacist job market is becoming more and more competitive.
For instance, companies like Kroger laid off pharmacists and moved weekly work hours down from 40 to 32. CVS, Walgreens and Target are hiring part-time pharmacists rather than full time. We’ve heard from many pharmacists that they have to take on two part-time jobs because their employer isn’t giving them enough hours.
Pharmacist Job Career Growth
When considering Pharmacist job, it is important you note this. We are certainly at a crossroads. What we can feel fairly sure about is that the demand for pharmacists is there and should continue to grow. The biggest question is what the job market will actually look like. The primary factor will be the number of new pharmacists graduating each year.
The growth of pharmacy schools and graduates has outpaced pharmacy job growth. Also, right now, it appears the supply of new PharmDs is meeting the job demand.
However, if the growth of pharmacy school graduates continues to outpace the actual job growth, then we could see pharmacist salaries stagnate and the ability to find a full-time job become an even greater challenge.