Posted by Chen Yen, PharmD on May 20, 2010 · 2 Comments
I am often asked when the worst time is to apply for a pharmacist job. Let me start with the best time frames.
The best time frame to apply for a job is typically when companies are ready to hire and make decisions. When are they? Mid-to late spring is one good time frame. Also, traditionally, there is movement of hiring decision-making before existing budgets will close out at the end of a fiscal year. End of December and end of September are the most common end dates of a company’s fiscal year. Sometimes pharmacies hire because they are coming to the end of their fiscal year, and have some money in their budget left over that they need to spend or lose. Hiring can pick up a few months leading to that, because companies have a sense of their remaining budget for the year.
Even if companies are ready to spend, expect the process to take longer during holidays like Thanksgiving & Christmas towards the end of the year. Hiring managers and pharmacy directors may be out of the office during that time, and not as ready to make decisions.
Over the past year and a half, many pharmacies (big & small) have held on to their hiring money because of an uncertain economy. Last year, fall and winter were slow time frames for hiring pharmacists despite traditionally being a time frame with increased hiring. Some pharmacies ran out of money early, or were worried due to uncertainty of the future. Fortunately, I have noticed more companies feeling a bit more encouraged with what lays ahead, and are willing to now go ahead and spend those dollars on hiring. But read my article on the recent pharmacist job market if you haven’t yet. It doesn’t mean that you can expect to get hired like before.
For positions that don’t require as much experience, summer months can be the worst time to apply, because new pharmacy grads flood the market then, so you will have more competition than usual for those types of positions. For clinical specialist positions, specialists can expect to apply along with new pharmacy residents also. This may or may not be a huge disadvantage, depending on the level of experience you carry and where you are interested in going.
Late summertime traditionally is a slower time period when hires happen.
For temp opportunities, summer months can be good because permanent employees are going on vacation during that time. Of course, if you are willing to where no one else is willing to go, ie: Alaska in the dead of winter, the road can be paved for you.
The reality of it is that there is usually some kind of hiring of pharmacists going on in the country. Even when it’s the worst time to apply, as long as you are prepared with your job search strategy (most pharmacists have no idea what this is about—hint, it’s not about applying everywhere online that you can find), know how to get your application noticed & write a resume that stands out, and have confidence to ace the interview from your competition…you can get the job you want.
Stay tuned for the answer to a commonly asked question: “When is it too early to apply for a job?” (ie, 3 mo before I want to make a change?) Get the next article in your inbox. Click here to get the RSS Feed. What does that mean? Get new pharmacist job market updates and answers to job search & workplace changes as I post these relevant articles on the blog.
Posted by Chen Yen, PharmD on February 7, 2010 · 7 Comments
Q: Chen, are pharmacist salaries going down?
A: In any kind of job market, salaries are based on the value you provide and the market supply/demand. Because the economy has led to a tighter pharmacist job market, it is a reality that 1) companies are experiencing budget cuts, 2) pharmacist layoffs lead to increased supply of pharmacists.
I have been waiting to respond to this question because I wanted to observe for a longer period what the pharmacist job market is experiencing and give you my first-hand perspective. I have noticed that pharmacies may be less generous with relocation or sign-on bonuses, but I haven’t necessarily seen salaries decrease significantly. There are hospitals that aren’t paying for pharmacists to travel to interview, because they are on smaller budgets than before.
Pharmacist salaries are stabilizing and don’t seem to be increasing as in previous years. Don’t expect that you have as much negotiating room for salaries as previous years, because the competition is tough out there and there may be someone equally as qualified who will work for a salary that you may think it’s not enough. I know an inpatient pharmacist who took a hiatus in her work for almost a year & is wanting to get back into hospital or home infusion. She had an opportunity that she could get back into but she was out of touch with how the pharmacist job market has shifted, and felt that the salary was not competitive enough. She is still out of a job months later because of this.
If you are a relief pharmacist, you may have noticed that temporary staffing needs have decreased in certain areas (partly because they are being filled by full-time pharmacists more readily in this job market). The pharmacist staffing companies are experiencing a cut in what pharmacies are paying and I have seen some agencies decrease the amount they are paying pharmacists because expenses of the services & costs of doing business of an agency don’t decrease just because it’s a tighter job market.
Comment below (you can keep it anonymous if you wish) about what you’ve seen with salaries at your workplace.
I’ve included the National Results from the 2010 Spring Edition Pharmacist Salary Survey from Mercer Human Resource Consulting. *Keep in mind that there are absolutely variations geographically & you may be compensated differently due to the depth of role that you have.
2010 Pharmacy Compensation Survey – Spring Edition
National Results
Pos Code(s) |
Pos Title(s) |
# Orgs |
# Obs |
$ Hourly Base Pay Wgtd Mean |
$ Annualized Base Pay Wgtd Mean* |
100 |
Pharmacy Team Mgr |
99 |
27,079 |
60.20 |
125.2 |
200 |
Staff Pharmacist – Retail |
28 |
52,730 |
54.59 |
113.6 |
205 |
Staff Pharmacist – Hospital |
99 |
3,919 |
53.73 |
111.7 |
210 |
Staff Pharmacist (Healthcare Retail/Satellite) |
17 |
448 |
51.66 |
107.4 |
220 |
Staff Pharmacist (Mail-order/Online) |
9 |
2,336 |
52.55 |
109.3 |
250 |
Clinical Pharmacist |
71 |
1,194 |
54.55 |
113.4 |
270 |
Nuclear Pharmacist |
2 |
226 |
—— |
—— |
200
205
210
220
250
270 |
Staff Pharmacist – Retail, Staff Pharmacist – Hospital, Staff Pharmacist (Healthcare Retail/Satellite), Staff Pharmacist (Mail-order/Online), Clinical Pharmacist, Nuclear Pharmacist |
147 |
60,853 |
54.07 |
112.5 |
300 |
Lead Pharmacy Tech |
83 |
24,742 |
17.39 |
36.2 |
310 |
Pharmacy Tech |
113 |
98,140 |
15.44 |
32.1 |
300
310 |
Lead Pharmacy Tech, Pharmacy Tech |
144 |
122,882 |
15.81 |
32.9 |
*Annualized Weighted Mean reported in thousands.
“This data provides reasonable estimates of market rates in the Pharmacy industry. However, many factors contribute to the final determination of pay rates, including company philosophy and the influences of each individual incumbent. For that reason, Mercer, Pharmacy OneSource, and PharmacyWeek suggest that you use multiple resources in the development of a total compensation program.” -PharmacyWeek.com