The Bureau of Labor Statistics reports that the average median pay for pharmacists in the year 2016 was approximately $122,230 per year, equating to approximately $58.77 per hour. The typical entry-level education for a pharmacist is either a doctoral or professional degree.
There is no requirement for work experience in a related occupation, nor is there any on-the-job training; this is due to the extremely extensive amount of training required simply to meet the requirements for the occupation in the first place.
Employment Outlook for Pharmacists
According to the BLS, there were approximately 297 100,000 pharmacists in the year 2014. According to the projections of the BLS, the expected job growth for pharmacists by the year 2024 is approximately three percent. A growth of 3 percent is slightly slower than average, though if it turns out to be accurate, then there could be an employment change of as many as 9,000 pharmacists within the next seven years.
Though the employment outlook for pharmacists is not particularly fast, it will still be largely generated by a higher degree of demand for more credentialed pharmaceutical professionals to distribute necessary medications.
Of all the different settings that pharmacists occupy, the ones that are expected to see an actual increase in pharmaceutical personnel are clinics and hospitals. Facilities that specialize in providing medication to patients will need a higher number of pharmacists in order to provide said medications needed to meet the widespread demand.
Demand For Pharmacists
It may be accurately predicted that while pharmacists nationwide may not be as numerous as they were before, those that remain within the field will be busier than ever. In addition to providing necessary medications for patients to manage their conditions, more pharmacists will be needed in order to perform tasks that are necessary for the health upkeep of those who require intensive treatment such as blood sugar examinations on a regular basis.
One of the biggest demographics that will be driving a higher degree of demand for pharmaceutical services is the aging baby boomer generation. According to the BLS’s examinations, more baby boomers being in need of more intensive treatments in order to manage the conditions that arise with their rising age are going to result in pharmacists being more thoroughly involved in the upkeep of their health.
At the number of chronic diseases in the aging baby boomer population continues to climb higher, pharmacists who are specially credentialed in areas that are meant for the specific treatment to said conditions are going to have more people that they need to provide their services to. Of all the emerging conditions that require pharmaceutical intervention, one of the most prevalent that is expected to drive a higher demand for said services is diabetes.
Not only will there be more conditions in baby boomers necessitating medical intervention to manage their well-being as they age, but a number of scientific advancements in medical technology will likely also contribute to greater investment in mitigating said conditions in new ways.