The Bureau of Labor Statistics (BLS) reports that the average median pay for pharmacists in the year 2016 was about $122,230 per year. This is about $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 about 297 100,000 pharmacists in 2014. According to BLS projections, the expected job growth for pharmacists is about three percent. A growth of 3 percent is slightly slower than average. If it turns out to be accurate, thought, 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 will be largely generated by a higher degree of demand for more credentialed pharmaceutical professionals.
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 more pharmacists to provide said medications needed to meet the widespread demand.
Demand For Pharmacists
While pharmacists nationwide may not be as numerous as they were before, those that remain in the field will be busier than ever. They will need to provide necessary medications for patients to manage their conditions. More pharmacists will be needed to perform tasks 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 driving more demand for pharmaceutical services is the aging baby boomer generation. According to the BLS’s, more baby boomers need more intensive treatments. These treatments manage the conditions that arise with aging populations. They are going to result in pharmacists being more thoroughly involved in the upkeep of their health.
The number of chronic diseases in the baby boomer population continues to climb. This leads to a need for pharmacists who are specially credentialed in areas that are meant for the specific treatment. Of all the emerging conditions that require pharmaceutical intervention, one that is expected to drive a higher demand for said services is diabetes.
There will be more conditions in baby boomers necessitating medical intervention to manage their well-being as they age. A number of scientific advancements in medical technology will likely also contribute to greater investment in treating these conditions in new ways.