The Average Retail Pharmacist Salary
Retail pharmacists work in retail stores that offer pharmacy services by dispensing prescription drugs to individuals according to prescriptions written by the individuals' physicians. These professionals may also counsel individuals regarding over-the-counter drugs as well as side effects and proper dosage of prescription drugs. A retail pharmacist also oversees and directs the in-store pharmacy by maintaining inventory, directing staff and completing insurance paperwork for prescriptions.
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Education
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All pharmacists must complete a PharmD (Doctor of Pharmacy) program. This requires two years of specific studies such chemistry, mathematics, physics and biology to be admitted into a PharmD program approved by the Accreditation Council for Pharmacy Education. The program requires four additional years of study. After receiving a PharmD, individuals must pass a series of exams to be licensed to practice as a pharmacist.
Average Salary
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The national average base salary ranged between $91,104 and $116,237 per year according to Payscale in October 2010. Salary data is based on 2,437 individuals working in this occupation reporting their wages. Some employers offer bonuses and profit sharing for retail pharmacists. Bonuses ranged from $999 to $4,921 per year, and profit sharing ranged from $1,007 and $7,241 per year. The total compensation ranged from $99,197 to $120,109 per year.
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Experience
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Payscale reported 38 percent of retail pharmacists having one to four years of professional experience and 12 percent having less than one year of experience. Fourteen percent of retail pharmacists had five to nine years of experience and 35 percent had over ten years of experience. Although many occupational salaries increase with experience, retail pharmacists' salaries were similar based on experience with small incremental increases. Those with less than one year of experience earned average salaries ranging from $85,544 to $113,090 per year, while those with 10 to 19 years of experience earned average wages ranging from $96,164 to $119,204 per year.
Geography
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Salary for retail pharmacists can vary by geographical locations based on the cost of living, job openings and employers in a specific metropolitan area. Payscale reported retail pharmacists in Queens, New York, receiving the highest wages, ranging between $72,500 and $134,815 per year.
Job Outlook for Pharmacists
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The Bureau of Labor Statistics reports employment for pharmacists is expected to increase 17 percent between 2008 and 2018. Growth is expected due to the increasing involvement of pharmacists in patient care, as well as the increasing number of older people in the population.
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References
- Photo Credit pharmacie image by muro from Fotolia.com
