Pharmacist Salary Analysis

We have updated our pharmacist salary page to show that the United States national pharmacist median average salary as of May 2019 was $128,090, the mean salary was $125,510, and the number of pharmacist employed was 311,200. This is an increase of $1,970 (or 1.56%) from the 2018 median salary of $126,120 from the Bureau of Labor Statistics (the median is the middle point (50%) in the frequency distribution of salary ranges). To provide a measure of reference for this increase, the Bureau of Labor Statistics shows a consumer price increase, a measurement of inflation or measurement of the average change in cost of goods and services, ranged from as low as 1.5% (Feb 2019) to 2.9% (Jun-Jul 2018) in the period between Jan 2018 to Dec 2019. Therefore, this 1.56% would fall at the low end of the spectrum of ranges between the Jan 2018 and Dec 2020 time period. It is of note that the percentage and salary changes are a national average as a whole; some regional areas may show even broader changes, while other areas may show less variability.

Here are a few notable sections provided by the Bureau of Labor Statistics for more in-depth breakdowns of salary differences based on various regions and industries.

A range between $123,150 to $129,040 within the top five industries for pharmacist employment, with General Merchandise Stores showing the highest average salary.

Ranges between $123,620 and $128,030 within the top five highest concentrated areas of pharmacist employment. Electronic Shopping and Mail-Order Houses show the highest pharmacist annual mean salary, although it holds far less in employment compared with Health and Personal Care Stores.

The top paying industries show a higher annual mean wage compared to the industries listed in the first two charts. The top industry, Outpatient Care Centers, also shows vastly more employment numbers than the next four top paying industries.

The dark green areas display the states with the highest number of pharmacists. The below chart shows California, Texas, New York, Florida, and Pennsylvania as the states with the most pharmacists, with California showing the highest salary out of the group. However, the cost of living in California is probably significantly higher than most other states.

The state with the highest range of salaries ($127,460 to $144,050) include California, Oregon, Washington, Minnesota, Maine, Wisconsin, Missouri, Alabama, Vermont, New Hampshire, and Alaska.

The top state, California, shows the highest Annual mean wage, $144,050. However, California is also one of the most expensive places to live behind only Hawaii according to a CNBC article and US News and World Report, and the dollar may not go as far as other states such as Arkansas or Iowa.

States with the highest location quotient include Montana, Arizona, North Dakota, South Dakota, Kentucky, and West Virginia (see above and below).

Rhode Island is the state with the highest quotient, and highest salary within the list of states rated by quotients.

Can you draw any conclusions from the previous year’s data if you are just graduating and looking for a job? A simple review of the website data would draw a simple conclusion that pharmacists earn the most and are employed more in the Health and Personal Care Sector (e.g. retail) in California. Does that mean California is the best place to work? Not necessarily if you factor in the cost of living (US News and World Report), or individual preferences as not everyone will enjoy unchanging seasons year-round, high taxes, and difficult traffic (e.g. Los Angeles). Perhaps Texas may be the best place to work considering the high salaries ($161,790) in certain metropolitan areas like Tyler, Texas, or West Virginia with its higher location quotient and low cost-of-living? Not necessarily either, as some may not like the Dallas Cowboys, or some may want a professional sports team to root for =).

To each their own, and you can draw your own conclusions as everyone has their own preferences in life where earning a good wage isn’t everything.

In summary, here are the relevant numbers from the BLS webpage as of May 2019 for your quick perusal:

Mean Annual Salary: $125,510

Median (50%) Annual Salary: $128,090

Mean Hourly Wage: $60.34

Median Hourly Wage: $61.58

Employment: 311,200

Industry where most pharmacists work: Health and Personal Care Stores (133,410)

Industry where pharmacists earn the most: Outpatient Care Centers ($143,150)

State where most pharmacists are employed: California (32,150)

State offering the highest annual mean salary: California ($144,050)

Metropolitan area employing the most pharmacists: New York/Newark/Jersey City (21,310)

Metropolitan area where pharmacists earn the most: Tyler, TX ($161,790)

Non-metropolitan area employing the most pharmacists: Southeast Coastal North Carolina (920)

Non-metropolitan area where pharmacists earn the most: Southwest Alabama ($162,910)

1. Bureau of Labor Statistics

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