Author Topic: Is Pharmacy School Worth the Investment?  (Read 35187 times)

dKonstruct

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Is Pharmacy School Worth the Investment?
« on: January 19, 2015, 07:33:14 PM »
Hi Mustachians!

I'm in my early thirties and I'm considering pharmacy school. 

Here are some stats:

1. I have 47K in student loan debt.  I have a BS in Biology and an MBA.
2.  My current job is in education and pays roughly 28K/yr gross (I net about 1700/mo.)
3.  No kids.

The school I'm looking at is located about 10 minutes away from my parent's place.  They agreed that if I should get in the school, I could live with them rent free in exchange for labor.

I know students who have graduated from the program and start out at 100K/yr. 

Making that salary, if I live a mustachian lifestyle, I should be able to pay off the debt in five or so years.

So what do you think?  Is it worth the 4 year investment and 150,000 debt to attend the school, or should a focus on using the 4 years to find a 50K/yr job and pay off the 47K loan debt?

Thanks for taking the time to look over my question.  If you need more info let me know and I'll share more.

iris lily

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Re: Is Pharmacy School Worth the Investment?
« Reply #1 on: January 19, 2015, 07:39:11 PM »
2nd hand info:

My close friend is a professor at a major school that awards Pharm D credentials. He said that now, far far fewer graduates have jobs lined up than the number who had jobs lined up in previous years.

The job market has changed over recent years. Research the job market before you sink money into this.

He remarked just the other day that at one time 100% of the Pharm D graduates had jobs lined up at the point of graduation.

Now, not so much. This is tied to overseas outsourcing as well as other issues.

For me this seems like a major shift since for that past 30+ year a Pharmacy degree was fail safe. It may now not be that. Buyer beware.
« Last Edit: January 19, 2015, 07:40:48 PM by iris lily »

Joan-eh?

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Re: Is Pharmacy School Worth the Investment?
« Reply #2 on: January 19, 2015, 07:40:37 PM »
Only do it if you want to be a community pharmacist!  Do you enjoy listening to patients? Fascinated by the human body's regenerative power? Intrigue by medicine?  Have genuine concern for pain? Do your love to keep up to date on the latest research? Are you a good listener? 

Invest in yourself and your community.

caliq

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Re: Is Pharmacy School Worth the Investment?
« Reply #3 on: January 19, 2015, 07:43:13 PM »
I'm planning to head to pharmacy school next year.  Tuition & fees for my school will be 70K -- a huge difference from what you're quoting.  And I'll be at a top 20 public university on the East Coast.  The only schools around here that cost 150k are the newly accredited private schools that haven't graduated a single class yet, unless you're paying out of state tuition. 

Another thing you should think about is where you're willing to work after you graduate.  Do some reading on studentdoctor.net and see what they're saying about pharmacist job prospects.  I want to work in a rural flyover environment and would prefer not to work first shift, which is why I feel confident in my personal future job prospects.  If you want to work in a coastal metro area hospital job, you might face a lot more competition. 

Can you increase your income by utilizing your MBA?  That wouldn't require any more school or debt.

ltt

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Re: Is Pharmacy School Worth the Investment?
« Reply #4 on: January 19, 2015, 08:01:44 PM »
I can't imagine that with the Affordable Care Act that there won't be room for growth in the pharmacy area with many more people now having insurance and needed health care and other services.  Every time I walk into a Walgreens they are always busy--and the drive-thru doesn't seem to stop.  I would think that both Walgreens and CVS would continue to grow. 

Also, what about the home mail order pharmacies?  Or Costco pharmacies?  I find it hard to believe that the job market would dry up for this type of position??

caliq

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Re: Is Pharmacy School Worth the Investment?
« Reply #5 on: January 19, 2015, 08:18:10 PM »
I can't imagine that with the Affordable Care Act that there won't be room for growth in the pharmacy area with many more people now having insurance and needed health care and other services.  Every time I walk into a Walgreens they are always busy--and the drive-thru doesn't seem to stop.  I would think that both Walgreens and CVS would continue to grow. 

Also, what about the home mail order pharmacies?  Or Costco pharmacies?  I find it hard to believe that the job market would dry up for this type of position??

The issue as I understand it is that pharmacy has been known as a relatively easy sure bet to a 100k+ salary for the non CS among us for 10 or 15 years now.  A lot of schools began to realize the demand and the accreditation agency allowed many new schools to open, which has greatly increased the availability of new pharmacy grads.  Now there aren't as many job openings as there once were...I don't think it's as doom and gloom as a lot of the pharmacy student forums and stuff are saying, but I don't think it's a 100% sure bet.  And I don't know that I would be jumping to increase my student loan balance to 200k, especially at OP's age.  Personally, my total loan amount will be less than 100k and I'll be 28 when I graduate -- a much less risky bet in my opinion.  Plus, OP already has a BS and an MBA -- there must be a better way to use those degrees than a 28k teacher's salary?

Yankuba

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Re: Is Pharmacy School Worth the Investment?
« Reply #6 on: January 19, 2015, 09:14:13 PM »
Hi Mustachians!

I'm in my early thirties and I'm considering pharmacy school. 

Here are some stats:

1. I have 47K in student loan debt.  I have a BS in Biology and an MBA.
2.  My current job is in education and pays roughly 28K/yr gross (I net about 1700/mo.)
3.  No kids.

The school I'm looking at is located about 10 minutes away from my parent's place.  They agreed that if I should get in the school, I could live with them rent free in exchange for labor.

I know students who have graduated from the program and start out at 100K/yr. 

Making that salary, if I live a mustachian lifestyle, I should be able to pay off the debt in five or so years.

So what do you think?  Is it worth the 4 year investment and 150,000 debt to attend the school, or should a focus on using the 4 years to find a 50K/yr job and pay off the 47K loan debt?

Thanks for taking the time to look over my question.  If you need more info let me know and I'll share more.

If I were you I would try to do something with the MBA. I know it's a sunk cost but it would be a shame not to use it.

Lyngi

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Re: Is Pharmacy School Worth the Investment?
« Reply #7 on: January 19, 2015, 10:11:49 PM »
Current working pharmacist here.  Be sure to research the potential job opportunities very well.   10 years ago the market was HOT.  Everyone was hiring, big sign on bonuses.  Post cards in the mail every day. Headhunters calling on the phone.   Now, not so much.  There are plenty of pharmacists now in a precarious job position.  In my area, one chain pharmacy stopped building their store on the corner.  Just stopped,  half built building now for sale.  Many pharmacies hire 2 people per store.  No overlap.     I love my job,  and I happen to work for a GREAT company.   One possibility for future graduates-  the boomer pharmacists may start retiring soon.  I've worked with pharmacists well into their 70's.  The private colleges have really caused a glut in the market.   Good Luck, whatever you decide

suburbandad

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Re: Is Pharmacy School Worth the Investment?
« Reply #8 on: January 20, 2015, 05:53:27 AM »
Another pharmacist to chime in here...

I managed to get into an early-admission program at a state college and blast through all of undergrad and the professional program in 6 years, so the overall cost for me was much much lower than 150k- I'd guess somewhere 100-115k for all 6 years tuition and cost of living before scholarships. But they also no longer offer that program due to increased admission competition and it's a moot point in your case anyway- besides that 150k sounds like a hell of a lot to me.

I will say first and foremost that I have no regrets about becoming a pharmacist and the compensation is very nice, but that it absolutely is not the career for everyone. My perspective is entirely on the retail side (more stress for more money) but I'm looking to very soon transition to a hospital position.

Straight out of school in 2011 I was earning ~110,000 in the Midwest as a staff pharmacist at a busy retail store. Due to the aforementioned glut of pharmacy graduates (my state went from 4 Pharm.D colleges to 7! in less than 5 years) I had to competitively interview with the same company I'd been a tech/intern for 5 years at that point just to get an offer in the area. Would've been offered a job without competition if willing to move to Nowheresville.

I've been moved around a bit and promoted to a pharmacy manager and tasked with increasingly higher-volume stores (again... more stress for more money) and after the last round of negotiations I ended up getting a pay bump and getting put on the field supervisor promotion fast-track in exchange for taking over the store in our district with "the most opportunity for improvement". Get used to this corporate nonsense talk in retail. I've got the store on the mend after 8 months but the daily and long-term stress is really starting to wear on me. I'm now making a base salary of 137k, and when you add in annual performance bonuses and stock awards, holiday pay, etc., it adds up to closer to 145k.

Unfortunately, for as hard as I've worked for it, my career path is not worth it at all at this point- I'm donating a lot of time to help turn the store around and I'm not particularly excited about getting promoted- next level up is pure administration and business mumbo jumbo. Initially the work/life balance wasn't bad at all but I made the mistake of being ambitious in a vicious corporation. There's also never enough help. I'm hyper-efficient in everything that I do and I still leave the store almost every day feeling like I'm leaving behind hours of work. I'll forever hold stock in my company, but I certainly don't want to work for them forever. So I would recommend if you go retail, bear in mind that the premium in pay is for you to deal with a lot of crap. A whole lot of crap.

My current plan is to escape retail to a hospital position or at the very least, downshift my career. Right now I am constantly worrying and dealing with my store even when I'm not there. I've talked to a lot of "floater" pharmacists - people that don't have a permanent store assignment but that fill in schedule gaps, and they sound much less stressed - Go to work, do what you can, go home and forget about work. Overall pay is worse but I'm figuring pay per hour would end up higher.

Anyway- didn't mean for that to turn into a bitch-fest, but just my perspective. I always remind myself that I have a lot of friends in extremely stressful jobs that are only making 40k a year, and this job has helped me wipe out a lot of debt and get on a good FIRE pathway... but buyer beware.

My closing advice if you go:
1. The pay is good, but on the retail side, you're working for every penny of it. Also be wary of who you're working for - chain corporate pharmacy squeezes the labor to a dangerous level. I hear it's not so bad if you're in a grocery/big-box pharmacy.
2. The work/life balance CAN be very good, you just have to be careful in what you get yourself into.
3. With all the new pharmacy schools, you might have to be willing to relocate to get a position, but they are still plentiful and out there if you're willing to move.
4. Network your ass off in pharmacy school - all the job flexibility comes from knowing people in the right places. I'd say 95 out of 100 jobs are filled before they ever get posted anywhere.
5. Although prescription/medical laws will make this initially hard to do, there is a small fear that we will all get replaced by robots a few decades from now. So hope that you're FIRE before then.

bdoubleu

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Re: Is Pharmacy School Worth the Investment?
« Reply #9 on: January 20, 2015, 06:48:58 AM »
Yay, pharmacists coming out of the woodwork.  I figured there had to be a few of us here :)

Before deciding, I would recommend shadowing at a pharmacy, or talking to someone in person who is a pharmacist and ask them all sorts of questions (I suppose this is partially fulfilled by posting here!).  Some people figure out halfway through pharmacy school that they absolutely hate it, and you don't get tuition refunds :)

I absolutely love my decision to be a pharmacist.  I will admit I had a lot of luck with finding my job after graduation in 2011. A great hospital in an "over saturated" market in the largest city in the area that I wanted to be had one applicant over a few-month time span - me.  Hired by default.  I started at $96k/year, three years later now at $125,000+ OT/bonus/night and weekend differential, etc (in 2014 I grossed $151k).  Every year since I was hired in 2011, we have had job openings that sit open for 3-6 months before getting a handful of applicants to consider (even though reports that we are saturated continue).

You can (and should!) be a pharmacy intern through school.  You can learn a lot, and the pay is pretty decent (at least in my area, Midwest).  This also allows networking opportunities.  I was able to intern in both hospital and retail, and figured out quickly that I am made for hospital pharmacy.

The school sounds expensive - if you are willing to move, you can find much more affordable tuition.  I understand there's some $$ saved by living with parents, but that's something to consider.

Even if it DOES cost $150k, IF you get a job, your salary will be plenty to pay it off over a very short time frame (also reference above, about making decent wages as an intern, to cut down on the amount of debt you have to take out).  You could also pick up a part time gig (if able), to make even more.  Be willing to work odd hours (works nice with no kids/spouse, or spouse with flexible schedule, etc).  Also be okay with moving (at least temporarily) to find a job after graduation.

If you want to do hospital, that is moving toward requiring a one+ year residency (pay in this area ~$40-50k/year, pretty low cost of living area) after graduation.  Also, at least at my hospital, I work my shift (maybe stay an hour late every few weeks), then LEAVE and forget about all work-related things.  This is by far the most spectacular part of my job.  We are also heavily staffed, unlike most retail stores, so that dramatically cuts down on stress.  I personally work overnight shifts, seven 10 hour shifts in a row (then 7 off!).  Some nights I'm basically paid to surf the internet, other nights I feel I REALLY earn my salary.  I DON'T have to deal with insurance or crabby patients directly (for the most part).

In my opinion, it takes a special person to survive retail for an entire career (definitely not my cup of tea!), but those special people do exist, and more power to them. The other great thing about pharmacy is all the other things you can do outside of hospital and retail - we have a mail order pharmacy in town, nuclear, and specialty compounding. 

Finally, I've found that being surrounded by 60+ other pharmacists who make as much as I do, can be difficult sometimes.  Most blow their entire paychecks on lifestyle, etc.  I like to fraternize with the technicians (who sometimes spend more than me too!! Ha!), because you don't have to hear about how much the new way-too-big house they're building is, how much that new fancy truck cost (almost as much as our house!), etc.  Techs are usually much more grounded people as well.  But this will vary.

I am so thankful for finding this community before the $$ started rolling in!

Good luck with your decision, and keep us updated!

DecD

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Re: Is Pharmacy School Worth the Investment?
« Reply #10 on: January 20, 2015, 07:19:46 AM »
Do you want to be a pharmacist?  I mean- do you really really want to do the job- are you excited about it- do you think it would be an awesome way to spend 10 or 15 years working after your 4-year education?

If the answer is "no" or "I'm not sure" then I would NOT waste the time and money to do it.  You'll waste 4 years of earning (and promotion, and 401K) power, plus the money you spend on the degree.  If you're doing it for love, then it's worth it.  If not?  Almost certainly not.

If your goal is FIRE....I bet with your current credentials you can find something that will get you there faster. 

(for what it's worth, I spent 6 years on a PhD program.  I was fully funded, so the only cost was in lost salary & benefits.  Even so, it would NOT HAVE BEEN worth it from a purely financial perspective.  That is- I'd be financially better off if I'd kept working rather than taking time out for my degree, despite my great job now.  I had personal reasons for getting the degree, which made it worth it for me, but the lost income, retirement investments, and work-experience-time means it is NOT for everyone.  And 4 (or 6, ha) years is a LONG LONG time to study, and I can even conceive of doing it if I weren't passionate about the subject.)

MrsPete

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Re: Is Pharmacy School Worth the Investment?
« Reply #11 on: January 20, 2015, 07:31:32 AM »
After reading the posts -- especially the ones from people working in this field -- I have to say that it echos what I thought to be true:  This is a great job with good pay, but people have noticed and college enrollment in this program has increased; the upshot is that it's tough for a new person to get his foot in the door.

I have a young friend who graduated 18 months ago from a program similar to the one you're considering.  He's working as a Pharm Tech (and substitute teaching on his days off).  He's back home with his parents and is very discouraged.  He's a good kid, an excellent student, and is willing to work, but he can't seem to find the "enter here door" to his career.  Currently he's investigating the possibility of joining the military -- certainly they need people trained in all aspects of health care, and I hope that'll provide the entry level position he needs.

On the other hand, I know a married couple who are BOTH pharmacists, and they're doing GREAT.  He works as a retail pharmacist and loves it; she's a drug rep who works in sales.  They live in a monster-sized house, vacation all the time, spend $$$$ on everything . . . and still out save us all.  The secret:  They've probably just turned 60.  They're not "current generation" or "entry level".  They got into this gig when it was a hot commodity.  They are the people whom my young friend was watching when he decided, "Yeah, that's what I want to do." 

I feel pretty sure these stories personify what's going on in this profession today. 

A whole new thought:  Since you have a background in business, have you considered going into some type of health care management?  Some type of hospital administration?  I think it might be a bit of a combination between your interest in health care and your business qualifications.
« Last Edit: January 20, 2015, 07:33:11 AM by MrsPete »

frugal rph

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Re: Is Pharmacy School Worth the Investment?
« Reply #12 on: January 20, 2015, 07:38:58 AM »
Another retail pharmacist chiming in here.  I would be hesitant to start pharmacy school now.  As previous posters have said, the job market is tough and really retail is not that enjoyable, except for the paycheck.  I work part-time and it is bearable, but I don't have $200,000 in student loans.  From what I have observed from students coming through my pharmacy on rotations, it is harder to get a job when graduating from the newer, private, more expensive schools.  You also MUST work during school to have a good chance of getting a job when you get out.  I agree it would be better to try to use your MBA to increase your earnings.

Yankuba

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Re: Is Pharmacy School Worth the Investment?
« Reply #13 on: January 20, 2015, 09:27:11 AM »
Are the mail order pharmacies a threat to employment as a pharmacist? My insurance company makes patients mail their prescriptions except if it is a one-off prescription.

Ccube19

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Re: Is Pharmacy School Worth the Investment?
« Reply #14 on: January 20, 2015, 09:41:54 AM »
Get a job as a pharm tech at nights or in the summer. It won't be exactly the same but will give you a better feel for what pharmacists deal with and give you someone to ask specific questions.
Another option if you can handle sales is going in to pharmaceutical sales. You already have a good degree combo for it and if you're good can make more then 100k per year. I've heard it can be cut throat but some people love it.

MayDay

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Re: Is Pharmacy School Worth the Investment?
« Reply #15 on: January 20, 2015, 09:47:26 AM »
Are the mail order pharmacies a threat to employment as a pharmacist? My insurance company makes patients mail their prescriptions except if it is a one-off prescription.

I have been told yes, because they automate things and don't need as many pharmacists. 

I researched it about 4 years ago, and decided no way.  You HAVE to do an additional hospital rotation/residence/whatever to get a hospital job, from what I learned, and that was a turn-off to me.  In my city at the time (Mpls/St. Paul) new grads couldn't get FT retail jobs, they would be on a list with whatever company (Walgreens, for example) and they would be filling in for vacations, sick people, etc.  Not getting enough hours, having to take whatever random night shifts, driving all over the city to different locations. 

But you'll be fine if you are willing to move to the rural midwest in a very small town.  We weren't willing to do that. 

I concluded that if I wanted to be in healthcare I'd be better off going the nurse practitioner route and making similar money with much better job security.  I didn't actually do that because blood and guts is gross. 

frugaldrummer

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Re: Is Pharmacy School Worth the Investment?
« Reply #16 on: January 20, 2015, 10:45:38 AM »
1)  Before making such a big investment, see if you can "shadow" a couple of pharmacists in different positions for a day each and see if you think you will actually like the day-to-day work (which in medicine is often VERY different from the bookwork in school).  For instance, someone might enjoy studying chemistry and physiology but hate the patient interaction.

2) Consider other allied medicine fields as well - optometry, podiatry, radiology technician, etc. Some of these may be more in demand or better suit your work style. 

3) Also consider pharmaceutical sales - if you have good people skills (and are reasonably attractive - make no mistake, they hire good-looking people so the doctors will talk to them!).  You have the biology background and would not need additional schooling.

4) I definitely agree with the advice to look for something you would enjoy and could be passionate about.  A job you hate is not worth $100k/year.

Cpa Cat

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Re: Is Pharmacy School Worth the Investment?
« Reply #17 on: January 20, 2015, 10:55:44 AM »
3) Also consider pharmaceutical sales - if you have good people skills (and are reasonably attractive - make no mistake, they hire good-looking people so the doctors will talk to them!).  You have the biology background and would not need additional schooling.

I would like to second this. I know a couple of people who are cracking $100,000+ in pharmaceutical sales. After a couple of years, if you're any good at it, you can move up to medical technology/equipment sales - the commissions get much larger.

Frugaldrummer is right, though - they are all reasonably good looking.

mskyle

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Re: Is Pharmacy School Worth the Investment?
« Reply #18 on: January 20, 2015, 10:58:08 AM »
I used to work at a pharmacy school (two different pharmacy schools, in fact - a brand-new one and one of the oldest in the country) and I just want to echo what others are saying here - pharmacy is no longer a guarantee of a high-paying job right out of school. Not worth it unless you really, really want to be a pharmacist. There are some interesting perks and drawbacks to being a pharmacist - for example, I read somewhere that in retail pharmacy there's a relatively small difference in pay-per-hour for part-timers vs. full-timers, which is nice if a flexible schedule is important to you.

dKonstruct

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Re: Is Pharmacy School Worth the Investment?
« Reply #19 on: January 20, 2015, 07:08:00 PM »
Wow. 

Thanks everyone for the great advice.  I never thought that my topic would get this much attention.

After reading over the advice in this thread and taking some time out to speak with some folks I know, everything said here echos back to me.

I've worked for a pharmacy over a summer as an intern a several years ago.  The job did interest me, but didn't enthrall me. I guess that is a sign, right?

About Drup Reps:
I met a regional sales director for a top 10 drug company several years ago.  She told me that the market has a lot of pressure on it due to direct to patient advertising and things are getting tougher for reps outside of populated territories.  Her turf was located in Southern West Virginia, one of the poorest local economies in the US, and she still was still able to live extremely well.  However, as someone mentioned above, she got in the market back in the Eighties, when the field was in demand and not saturated.

I guess that, due to my age and the huge investment involved, I'll look around for opportunities elsewhere.  I guess my problem is that it has been a few years since I went through the MBA program and my knowledge is rusty.  It looks like I'll have to dust off the books and get back into the game.

Again, thanks everyone for chipping in!   

 


 

Blonde Lawyer

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Re: Is Pharmacy School Worth the Investment?
« Reply #20 on: January 21, 2015, 01:03:41 PM »
Follow a few pharmacy blogs.  I like "crazyrxman."  Many retail pharmacists are miserable.  Make sure you are ready for the work environment and that you would actually enjoy it.  The corporate monsters can have a real drag on your day to day life.

zataks

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Re: Is Pharmacy School Worth the Investment?
« Reply #21 on: January 22, 2015, 02:28:41 PM »
Just saw this thread and skimmed it.

My addition: wife is PharmD.

We had brunch with 4 others pharmacists Sunday (one of whom is PharmD but gave it up to be a mortgage broker and works less and makes more now) and while talking about it DW said she now tells techs/interns/prospective students to "run for your lives."

Saturated market and tighter margins on retail pharms makes working conditions pretty shitty and pay not nearly good enough to make up for those conditions. 
DW works at an admixture pharmacy now and conditions are a little better but it's big pharma a not a great place to work.  We are always looking for an outpatient position at a county hospital or VA because the pay is about the same but benefits and contracts are FAR better. 

As noted above, plus side is that there is lots of per diem work if you only want part time work.

Also, we've noticed that while her wages are good here in a high COL area, they are the same, or sometimes even higher in lower COL areas because the less desirable areas need pharmacists too.  So income does not necessarily fluctuate or correlate to regional COL as with many jobs.  We joke about moving to the rural area where my house is where she would make the same she does not, and I'd make about $30k less but we could own significant amounts of land and have a very large home for less than our condo in Silicon Valley costs. 

caliq

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Re: Is Pharmacy School Worth the Investment?
« Reply #22 on: January 22, 2015, 02:32:20 PM »
Just saw this thread and skimmed it.

My addition: wife is PharmD.

We had brunch with 4 others pharmacists Sunday (one of whom is PharmD but gave it up to be a mortgage broker and works less and makes more now) and while talking about it DW said she now tells techs/interns/prospective students to "run for your lives."

Saturated market and tighter margins on retail pharms makes working conditions pretty shitty and pay not nearly good enough to make up for those conditions. 
DW works at an admixture pharmacy now and conditions are a little better but it's big pharma a not a great place to work.  We are always looking for an outpatient position at a county hospital or VA because the pay is about the same but benefits and contracts are FAR better. 

As noted above, plus side is that there is lots of per diem work if you only want part time work.

Also, we've noticed that while her wages are good here in a high COL area, they are the same, or sometimes even higher in lower COL areas because the less desirable areas need pharmacists too.  So income does not necessarily fluctuate or correlate to regional COL as with many jobs.  We joke about moving to the rural area where my house is where she would make the same she does not, and I'd make about $30k less but we could own significant amounts of land and have a very large home for less than our condo in Silicon Valley costs.

Are there more job openings in the rural area than Silicon Valley?

zataks

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Re: Is Pharmacy School Worth the Investment?
« Reply #23 on: January 22, 2015, 02:54:27 PM »
From what I gather from DW, yes.  Maybe not tons of jobs, but less desirable places are less desirable. And, not surprisingly, everyone still wants their meds.

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Re: Is Pharmacy School Worth the Investment?
« Reply #24 on: January 23, 2015, 09:39:10 AM »
With all of your qualifications and experience why are you earning so little income????

I would start there. Don't go back to school.

Mommyof2

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Re: Is Pharmacy School Worth the Investment?
« Reply #25 on: January 24, 2015, 08:43:16 AM »
I work in sales, do not have an MBA and make 200k+ a year.  If you got the personality for it, would go for something like that.

monarda

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Re: Is Pharmacy School Worth the Investment?
« Reply #26 on: January 24, 2015, 10:16:35 AM »
With all of your qualifications and experience why are you earning so little income????

Because educators aren't paid enough, as a rule.
And there's a huge anti-education, anti-intellectual culture and politics.
I find this sad. I teach because I love it. I make money in real estate.

OP, do you like teaching and are you wanting a change because we're underpaid?





theonethatgotaway

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Re: Is Pharmacy School Worth the Investment?
« Reply #27 on: January 27, 2015, 10:29:54 AM »
"Because educators aren't paid enough, as a rule.
And there's a huge anti-education, anti-intellectual culture and politics.
I find this sad. I teach because I love it. I make money in real estate.

OP, do you like teaching and are you wanting a change because we're underpaid?"


Do teachers, who plan on being teachers, go to school to get an MBA and take on debt? Our society is aware that general ed does not pay well so I doubt OP went into teaching expecting a large paycheck.

We unschool and pay our mentors/teachers/trainers/tutors an average of $50 an hour depending on what is being studied and pursued.

I have friends that are school teachers and make a lot more than 28k. Something here does not add up.

monarda

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Re: Is Pharmacy School Worth the Investment?
« Reply #28 on: January 27, 2015, 11:46:54 AM »

We unschool and pay our mentors/teachers/trainers/tutors an average of $50 an hour depending on what is being studied and pursued.


I agree that perhaps something doesn't add up, but...

What???  $50 per hour?  No way.  Where does this number come from?  This is what you pay your mentors/teachers/... in what world? It's nowhere near that for ANY teacher I know.

Very roughly here...$50/hr x 40 hr week x (conservatively) 35-40 wks  per year is $70-80K.  That is not the average. And it's certainly not the median.

AND with all the work outside of class, like prep and grading (that nobody ever includes) the hourly rate is MUCH less.  More like half of that.

I'm teaching college level in sciences this semester and my hourly rate considering just contact hours (face time in front of the class) is $35, and including all the prep involved it's closer to $25.  I have a Ph.D.

It's time for our culture to value teachers.




caliq

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Re: Is Pharmacy School Worth the Investment?
« Reply #29 on: January 27, 2015, 11:50:31 AM »

We unschool and pay our mentors/teachers/trainers/tutors an average of $50 an hour depending on what is being studied and pursued.


I agree that perhaps something doesn't add up, but...

What???  $50 per hour?  No way.  Where does this number come from?  This is what you pay your mentors/teachers/... in what world? It's nowhere near that for ANY teacher I know.

Very roughly here...$50/hr x 40 hr week x (conservatively) 35-40 wks  per year is $70-80K.  That is not the average. And it's certainly not the median.

AND with all the work outside of class, like prep and grading (that nobody ever includes) the hourly rate is MUCH less.  More like half of that.

I'm teaching college level in sciences this semester and my hourly rate considering just contact hours (face time in front of the class) is $35, and including all the prep involved it's closer to $25.  I have a Ph.D.

It's time for our culture to value teachers.

Unschooling is a type of homeschooling where you let the student explore things they're interested in and want to explore.

So they pay $50/hr as an hourly rate for a teacher/tutor/mentor in a specific subject, probably only a couple hours a week.  Like piano lessons or a calculus tutor, etc.  It's not 40 hrs/week.

theonethatgotaway

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Re: Is Pharmacy School Worth the Investment?
« Reply #30 on: January 28, 2015, 11:02:37 AM »
"It's time for our culture to value teachers."

We do! And as such, we put our money where our mouth is.

Unschooling and paying for what we need is, I think, a great way to monetarily value a teachers knowledge and time on a subject.

An 'a la carte' education is what we call it in our house.

PharmaStache

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Re: Is Pharmacy School Worth the Investment?
« Reply #31 on: January 28, 2015, 11:38:10 AM »
I'm a hospital pharmacist but I'm Canadian, so most of my thoughts on the subject don't apply to you.  However I would chime in with the people suggesting you really look into what the job entails.  I'm biased towards hospital (retail is basically hell to me) and it would be awesome if you could somehow do a bit of job shadowing there. 

Pharmacy can definitely be a quick path to retirement- here you can graduate at 22 (no PharmD here yet) and make 100k/year minimum.