It is not uncommon these days to hear from pharmacy students or pharmacists about the pharmacist job market: that the supply of pharmacists have risen, probably exceeding the demand for them. If this imbalance occurs, the competitiveness with which a newly minted pharmacist could vie for a limited position rises, which could lead to the lowering of income earnings, reduced benefits, and maybe disagreeable shift assignments (e.g. night shift, weekends, holidays, etc) assigned to new hires . Some point to the high volume of pharmacy schools that have been forming in the past decade, and the increase in class sizes observed at already established schools. It is commonly known in the pharmacist job market that the majority of pharmacist positions are held in the retail and hospital setting. Therefore, the demand for pharmacists may depend on the openings available in existing and new retailers and hospitals. Job openings will post when pharmacists retire, when employees transfer or leave the position, or when new growth opportunities occur such as opening new retail stores and hospitals, as well as expansion seen in established retailers and hospitals. In any case, a prudent pharmacy school candidate should perform thorough research to view the outlook of pharmacists’ demand and future job outlook, pay, benefits, and growth opportunities that are projected from the time they graduate and up until they retire. Although such projections may not come to fruition in the future, it is a good idea to be informed of the economic landscape surrounding the pharmacist job market.
There are a few tips to gauge interest and demand for pharmacists which include but are not limited to job searches in your local area, and reviewing job statistics available from the Labor Department. There are also searches that can be performed on the Internet, or information that may be of use from websites that offer some opinion or projected measures of such job demand.
Here are a few of such resources:
Using a job search engines such as indeed.com will return available results within a locale. For example, typing in the keyword, “pharmacist” in the “New York, NY” area generates 411 job results (see below) as of the time this search was performed. Of course these results may change on a daily basis. Using different job search engines may return similar and overlapping results, but some sites may return different information.
The same search performed on the same day returns 615 results in a different job search engine, simplyhired.com:
Therefore, it may be a good idea to use multiple job search engines when measuring openings in a specific city or area. Using other keywords such as “pharmd” or “pharmacy” may generate a different set of results.
Another source of information is the United States Bureau of Labor Statistics. Using the “Job Outlook” tab on their website will provide some information on the job prospects for pharmacists based on their data. According to their page, the current information seems to be consistent with the perception of the rising competitiveness seen in this industry:
Finally, one interesting website (pharmacymanpower.com) measures the demand for pharmacists using a numbered scaled from 1 – 5:
The meanings of “unweighted”, “population adjusted”, and “response weighted” can be found on their website. A further look in their site will show more information based on state, region, and job setting.
Viewing their map, the darker regions indicate higher demand, and lighter regions noting lower demand according to their website:
However, it is important to note their disclaimer:
As all things, it is important to do your due diligence, and perform thorough research before committing to a decision. Using a myriad and diversity of resources could provide a better picture about the market landscape, as well as seeking information from job search experts.