Pay for pharmacy professionals still on the rise, Mercer survey shows

August 11, 2008

Nationally, the position of retail staff pharmacist receives median total cash compensation (which includes base salary and annual bonus) of $108,700 this year compared to $102,800 in 2007, an increase of 5.8 percent.  Other jobs in the survey showing similar year-over-year pay increases include hospital staff pharmacist (6.5 percent) and clinical pharmacist (5.2 percent).  The position of pharmacy team manager shows the strongest growth in pay, up 8.1 percent.

"The ongoing shortage of pharmacy professionals continues to drive up pay," said Kelly Keith, an Atlanta-based senior associate with Mercer's managed pharmacy benefit business.  "With the need for more pharmacists growing as baby boomers age and the need for more medications, pharmacy operators are continuing to raise salaries to attract pharmacists and remain competitive."

"In addition to the demand for pharmacists outpacing the available talent pool, other factors such as the number of outlets offering pharmacies, and greater opportunities in terms of environment, type of work and flexible schedules, have contributed to higher salaries for pharmacy professionals," Keith added.

Despite the overall uptick in compensation for pharmacists, pay levels vary considerably by geography.  Compared to the national median for total cash compensation, median pay for a retail staff pharmacist is lower in cities like Omaha, Neb. ($97,200), Pittsburgh, Pa. ($97,800) and Little Rock, Ark. ($102,400), and is slightly lower (1.5 percent) in Atlanta ($107,100). 
 
However, pay for this position is much higher in many cities in California and North Carolina, including San Jose ($118,000) and Charlotte ($115,400), respectively.

The survey, conducted semi-annually, contains detailed information on pay levels and pay practices for pharmacy personnel reported in more than 380 metropolitan areas across the United States.  Survey participants include major retail pharmacy operators (drug store and supermarket chains) as well as mail-order/online pharmacy firms and hospitals/health care systems.  The survey reflects data submitted by 172 organizations covering more than 242,120 pharmacy employees in 23 different jobs.

The survey has the support of some of the nation's largest pharmacy operators - Caremark, CVS, Giant Food Stores, Kroger, Longs Drug Stores, Meijer Inc., Rite Aid, Stop & Shop Supermarket Company and Walgreens.  The survey also has the endorsement of PharmacyOneSource.com, an exclusive online resource for pharmacy professionals, and PharmacyWeek, a leading industry publication.