PharmacyThisWeek: 2015 Pharmacy Compensation Survey! Stay employed by the same company for 2+ years, earn less over your lifetime by 50% or more!!

June 16, 2015

Welcome to PharmacyThisWeek!

Record breaking survey results to report! We had both a record number of organizations at 250 and a record number of pharmacy professionals at 336,068!! I’ll expand upon all in future emails as there are several big announcements to make. Here are just a few survey highlights…

  • Overall pay is projected to be up an average of 2.0 – 3.0% with the highest up 3.1%
  • Managers responsible for multiple Retail pharmacies have seen pay increase steadily over the last three years
  • Pay for the Healthcare Retail/Satellite Pharmacist has increased noticeably with each survey cycle
  • Across the three year sample, Chain Drug Stores have seen the smallest increases in Pharmacist pay
  • Full-time Pharmacy Technicians can earn about $15,000 more a year if they are employed by a hospital vs. a chain drug store
  • Of the companies that offer sign-on bonuses to newly licensed pharmacists, typically $5,000 or less is awarded. For Retailers, $5,000 to $10,000 is common
  • Those working third shift earn the highest differential, while second and weekend shifts have similar differentials
  • As seen in prior years, areas that have difficulty attracting talent offer higher pay
  • Staying employed by the same company for over two years on average is going to make you earn less over your lifetime by about 50% or more
  • On average an employee receives a 10% to 20% increase in salary for leaving. The average raise an employee who stays can expect is 3%
  • Pharmacy Technician turnover has been on the rise since 2012, with a big jump in 2014
  • Overall, turnover is higher in Retail but less so at the Manager level
  • Pharmacist median hourly base pay highest in Retail/Satellite at $60.20
  • Pharmacy Technician median hourly base salary highest in Hospital/Healthcare System at $17.82
  • Regional Pharmacy Operations Director Retail median base pay $173k!

However not everything is rosy, stay tuned for more details!!

I hope everyone has a great week, you can always reach me at my email or cell number below, thanks!

Kevin Mero
President
kevin@pharmacyweek.com
cell: 210 872-6160

 

 

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