After a student receives the doctor of pharmacy degree in any accredited United States College of pharmaceutical sciences, the individuals can now apply for a variety of jobs which require the doctor of pharmacy degree to be eligible such as hospital pharmacists, pharmaceutical researchers etc. The employers which the pharmacist works for, pays the pharmacist a specific amount of money to their employees as a reward for the work they’ve put in. This monetary compensation is paid periodically as agreed between employer and employee. Let’s learn about ‘Salaries For Doctor Of Pharmacy’.
Salaries For Doctor Of Pharmacy
The salary for a doctor of pharmacy is the monthly or annual compensation a pharmacist with a Doctor of Pharmacy degree receives after working in any professional setting. The Average Salary for a doctor of pharmacy working in the United States is $184,000 as of 2022. The low range was $150,000 and the high range was $222,000. It is important to note that a pharmacist’s salary depends mainly on the job type the pharmacist has been employed in and the work required. Some employers pay better than others and a higher workload may be an indicator of a higher salary. These are the multiple career options for a doctor of pharmacy as the corresponding annual salary.
Average salaries for doctors of pharmacy in different specialties
These are the following places where a doctor of pharmacy is eligible to work and the corresponding annual salary.
- Community pharmacists/retail pharmacists; community or retail pharmacists typically work for chain pharmacies like CVS, standalone pharmacies, or other retail pharmacies that can be found in malls and grocery stores. The Average annual salary for a community or retail pharmacist is $127,000 before any bonuses. Some retail or community pharmacists own or co-own their pharmacies.
- Hospital pharmacists; hospital pharmacists work in hospitals and participate in direct patient care. They give medical counsel to physicians, provide advice to patients, and many others. Hospital pharmacists are well paid with an average annual salary of $143,000 before bonuses.
- Consultant pharmacist; consultant pharmacists work in conjunction with healthcare providers, hospital management, and any large healthcare settings like assisted living and long-term care facility. They provide these institutions with expert counsel on the use of medication appropriately and how to comply with federal laws. Consultant pharmacists earn an average annual salary of $125,000 before bonuses.
- Managed care pharmacist; a managed care pharmacist usually works in retail pharmacies or drugstores or the in-patient and out-patient parts of a hospital. They handle the double-checking of prescriptions to check for errors in dosage or medication, they also check for hazardous drug interactions and the filling of prescriptions. Managed care pharmacists earn an average annual salary of $120,000 before bonuses.
- Long-term care pharmacists; long-term care pharmacists work in medical facilities that offer care for an extended period. They fill prescriptions, take note of drug interactions among patients, which drug works best with little side effects and provide a long-term medication plan based on precious history for each patient with the physician. Long-term care pharmacists earn an average annual salary of $120,000 before bonuses.
- Nuclear Pharmacists; nuclear pharmacists work in nuclear medicine departments in a lab or at a hospital. They handle the preparation and combination of harmful materials used in the treatment of cancers. These pharmacists have little interaction with patients but work with the pharmacy technicians and others. Nuclear pharmacists earn an average annual salary of $145,000 before bonuses.
- Oncology pharmacists; unlike nuclear pharmacists that prepare and combine hazardous materials and do not interact with patients, an oncology pharmacist creates and dispenses these hazardous materials. They also research cancer, provide information concerning cancer to patients, and develop cancer treatment plans with the physician. Oncology pharmacists earn an average annual salary of $124,000 before bonuses.
- Specialty and Infusion therapy pharmacist; the specialty and infusion therapy pharmacist handles the preparation of specialty infusion medication for instance chemotherapy and monitors patients’ treatment schedule. They work directly with patients as necessary and can also provide home services for patients. A specialty and infusion therapy pharmacist earns an average annual salary of $ 140,000 before bonuses.
Other Factors that affect the salaries of doctors of pharmacy
Apart from the different specialties of doctors of pharmacy, other factors can majorly affect the salaries of doctors of pharmacy in the United States. They include;
- Location of work; the location of work refers to the city or region of a doctor of pharmacy place of work is located. This is a big determinant as every city has its pay range and some pay better than others. San Jose, California is the highest paying city in the United States for doctors of pharmacists with an annual average salary of $230,000 and Alaska is the state that pays doctors of pharmacists the highest with an average salary of $147,000.
- Work experience; the more experience an employee has, the more likely they are to earn more. Pharmacists are advised to apply for internships while still in school to boost their experience level.
- Educational degree; A doctor of pharmacy degree is the required degree for employment in a pharmacy position in the United States. An employee with more specified qualifications is likely to earn more than another with the basic qualification.
How to earn higher salaries for doctors of pharmacy?
- Negotiate higher salaries if it is a private employer. A doctor of pharmacy can negotiate a higher salary if they are being employed by a private employer. This can be due to the years of experience you have amassed or a degree obtained while working there which entitles you to higher pay.
- Research the cities nearest to you and what their average salary is. Many cities within the same state have different average pay for doctors or pharmacists so pharmacists are advised to research when seeking employment.
Salaries for doctor of pharmacy is paid to pharmacist monthly, and is dependent on various factors such as the specialty of the pharmacist, location, level of education, years of experience, and many others. Salaries of doctor of pharmacy change from year to year but still places the doctor of pharmacy as a lucrative career choice in the United States especially if you work in a high-paying city or region.