it’s difficult to prove the existence of a pharmacist shortage. We’ve identified nine states where the typical salary for a Pharmacist job is above the … Over the same time span, hospitals’ share of employment climbed from 23.2% in 2010 to 25.4% in 2017. The site also reports that after bonuses and profit-sharing programs were added, the total pay range for pharmacists was $84,830 – $136,940. as of October 31, 2018, the average pharmacist salary in the U.S. was $129,718. Employment of pharmacists is projected to decline 3 percent from 2019 to 2029. © 2020 Forbes Media LLC. , but that growth in the industry trails other healthcare professions. I'm a finance writer with years of experience covering topics such as taxation, Social Security, entrepreneurship, investing, real estate and housing markets. You can download this report and receive an infographic summarizing key points here: Unfortunately, the news isn’t all great. That figure represents a 4.5% increase from the Bureau of Labor Statistics’ May 2017 salary of Pharmacist salaries in the U.S. are significantly higher than the national average for all ... [+] occupations. The site also reports that after bonuses and profit-sharing programs were added, the total pay range for pharmacists was $84,830 – $136,940. Salary.com reports that as of October 31, 2018, the average pharmacist salary in the U.S. was $129,718, with a range between $121,998 and $138,520. 17, 2019. The national average annual wage of a pharmacist is $123,670, according to the BLS, much higher than the average annual salary for all occupations, $51,960. Additionally, the PDI predicts that growth in hospitals, non-retail settings, and physician’s offices will outpace mail and retail pharmacy. Another source, salary.com, the average Pharmacist salary in the United States is $132,513 as of March 28, 2019, but the range typically falls between $124,861 and $141,134. The median annual wage for pharmacists was $128,090 in May 2019. You may opt-out by. 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. It appears that 2018 brought some much-needed good news to pharmacists. Go ahead and sign up to download the guide below. The shift in pharmacy continues as the number of pharmacists in various formats shifts to meet the changing demand. The best-paid 25 percent made $145,870 that year, while the lowest-paid 25 percent made $111,340. They must also be licensed, which requires passing two exams. The average change in salary for pharmacists in 2017 was 1.35%, compared to 2% for other healthcare workers. Salary.com reports that as of October 31, 2018, the average pharmacist salary in the U.S. was $129,718, with a range between $121,998 and $138,520. It appears that 2018 brought some much-needed good news to pharmacists. 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. 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. Opinions expressed by Forbes Contributors are their own. Trending Now: Cities With the Most Female Entrepreneurs. The state with the most growth in average pharmacist salaries is Nebraska, where they increased by 18%, from $101,380 in 2013 to $119,670 in 2018. As more new pharmacists graduate from school and enter the workforce, the trend will likely continue. Overall, Pharmacy Week reports that salaries increased overall, but that retail positions appear to trail other positions. Retail pharmacy, hospital education, oncology, and long-term care were among the most prevalent skill sets for pharmacists. Without fail, in surveys across basically every demographic, the number one most important aspect of a job for most people is the salary — how much do pharmacists get paid where I live? According to PayScale, the average U.S. pharmacist salary stood … Read on for a full breakdown of where pharmacists make the most money, and where they're making the least. Most notable in the report was the first-ever decrease in base salary for retail pharmacists compared to 2017. , perhaps in response to market saturation. By Chris Kolmar - May. Some of these states have seen large increases in pharmacist’s salaries over the last five years. The BLS estimates that 17,400 jobs will be created between 2016 and 2026. , with a range between $121,998 and $138,520. An early career Pharmacist with 1-4 years of experience earns an average total compensation of $56.03 based on 2,223 salaries. 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. Pharmacists must have a Doctor of Pharmacy (Pharm.D. No need to bookmark this salary guide. How much does a Pharmacist make in the United States? As of Q3 2018, for example, the Pharmacy Demand Indicator showed that, growth was slowest in the south and greatest in the west. Drug Channels reported earlier this year that the average pharmacist salary hit $120,000, but that growth in the industry trails other healthcare professions. Pharmacy Week reported that all key pharmacy jobs saw an increase in turnover in 2018, with the highest turnover among Pharmacy Team Managers. Here’s a breakdown of the top-10 states in which pharmacists earn the most: It’s interesting that most of the top-10 best states for pharmacist salaries are geographically northern states, whether West or East. An Entry Level Pharmacist in your area makes on average $52,299 per year, or $1,210 (2%) more than the national average annual salary of $51,089. Pharmacy is not unique in that salary is perhaps the most important consideration for those working in the profession. varies according to the source, but we hope this information will provide tools for you as you negotiate salaries and contemplate new opportunities. The 10 States With The Highest Pharmacist Salaries For 2019. All Rights Reserved, This is a BETA experience. More good news! The average Pharmacist salary in Tennessee is $124,850 as of October 28, 2020, but the range typically falls between $117,639 and $132,980. Couple that figure with the 14,502 first professional degrees awarded in the 2016-2017 school year and it isn’t hard to see that supply is fast outpacing demand. Detailed salary report based on location, education, experience, gender, age etc. For example, Iowa is the fifth lowest-paying state, but pharmacist salaries have increased by 13.5% from 2013 to 2018, which is far above average. The annual survey also revealed that base pay increases were lower in 2018, averaging about .2%, compared to last year’s base pay average of $3.2%. According to the Bureau of Labor Statistics’ Occupational Outlook Handbook, employment as pharmacists is forecasted to change little, with only 100 pharmacist jobs being lost from 2018 to 2028. As of Q3 2018, for example, the Pharmacy Demand Indicator showed that growth was slowest in the south and greatest in the west. Advanced 2019/20 Survey. You’ve likely noticed that the average pharmacist salary varies according to the source, but we hope this information will provide tools for you as you negotiate salaries and contemplate new opportunities. The outlet also reported that the number of hospital pharmacists increased and that those pharmacists saw higher salaries and greater salary increases than their counterparts in outpatient dispensing formats. We’ll continue to monitor the evolution of pharmacist salary and update you as new information becomes available. Average salary for Pharmacist is US$ 119,869. How Much Do Pharmacists Make In … By Chris … Although the demand for pharmacists isn’t decreasing, it’s absolutely true that growth in pharmacy is slowing compared to other healthcare professions. ranks number 1 out of 50 states nationwide for Entry Level Pharmacist salaries. 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%. My work has appeared on MSN, Yahoo Finance, Fortune, CNBC, CBS, U.S. News and more. Though pharmacy doesn’t appear to be on the decline, trends suggest that pay for pharmacists is. Be Happy and Be a Pharmacist: How You Can Become Both, Again. Pharmacy is unique, too, in that its graduates walk out of college into six-figure incomes that leave little room for future growth. Although the demand for pharmacists isn’t decreasing, it’s absolutely true that growth in pharmacy is slowing compared to other healthcare professions. Pharmacy Week also generates a list each of year of pharmacist salaries by state. State & Area Data 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. Although employment isn’t growing, it also isn’t falling, which is great because the average pharmacist salary in the United States is quite high. Using occupational data from the Bureau of Labor Statistics, we've analyzed and compiled a round-up of the average salary of a pharmacist in each U.S. state for 2019. Pharmacists made a median salary of $126,120 in 2018.