While the unemployment rate for pharmacists sits at a remarkably low 1.2%, far below the national average, the profession is a dynamic field of over 300,000 professionals where retail pharmacies still dominate but opportunities are rapidly expanding into hospitals, online services, and specialized clinical roles.
Key Takeaways
- As of May 2023, there were 319,200 pharmacists employed in the United States, representing a 3% increase from 2022.
- In 2022, approximately 56% of pharmacists worked in retail pharmacies, totaling around 178,000 professionals.
- Hospitals employed 54,500 pharmacists in 2023, accounting for 17% of the total pharmacist workforce.
- In 2023, 92% of pharmacists held a Doctor of Pharmacy (PharmD) degree.
- There were 144 accredited PharmD programs in the US in 2023.
- Enrollment in PharmD programs totaled 62,000 students in fall 2022.
- Mean annual salary for pharmacists was $136,030 in May 2023.
- Retail pharmacists earned a median of $130,000 annually in 2023.
- Hospital pharmacists' average salary reached $138,500 in 2023.
- The US pharmacy market size was $550 billion in 2023.
- Pharmacy benefit managers (PBMs) controlled 80% of prescriptions in 2023.
- Retail pharmacy sales grew 5.2% to $500 billion in 2023.
- In 2023, pharmacists administered 45% of adult vaccinations in the US.
- Medication reviews prevented 150,000 adverse events annually via MTM.
- 80% of community pharmacies offered flu shots, immunizing 50 million.
The pharmacist workforce is growing steadily with strong job prospects and competitive salaries across diverse settings.
Compensation
- Mean annual salary for pharmacists was $136,030 in May 2023.
- Retail pharmacists earned a median of $130,000 annually in 2023.
- Hospital pharmacists' average salary reached $138,500 in 2023.
- Clinical pharmacists averaged $145,000 per year in 2023.
- Entry-level pharmacists earned $120,500 median in 2023.
- Pharmacists in California averaged $155,000 salary in 2023.
- Bonus pay for pharmacists averaged $10,200 annually in 2023.
- 75th percentile pharmacist salary was $152,000 in May 2023.
- Long-term care pharmacists earned $132,000 median in 2023.
- Industry pharmacists in pharma companies averaged $150,000 in 2023.
- Pharmacist managers earned $160,000 average in 2023.
- Texas pharmacists averaged $128,000 salary in 2023.
- Benefits packages for pharmacists included average health insurance value of $15,000 in 2023.
- New York pharmacists earned $142,000 median in 2023.
- Specialty pharmacists (oncology) averaged $155,000 in 2023.
- 401(k) matching for pharmacists averaged 4.5% of salary in 2023.
- Florida pharmacists averaged $125,000 in 2023.
- Mail-order pharmacists earned $135,000 median in 2023.
- Overtime pay added $5,000 annually for 30% of pharmacists in 2023.
- Pennsylvania pharmacists averaged $130,000 in 2023.
- Academic pharmacists earned $120,000 average in 2023.
- Illinois pharmacists averaged $133,000 in 2023.
- Sign-on bonuses for pharmacists averaged $15,000 in 2023.
- Ohio pharmacists averaged $127,000 in 2023.
- Nuclear pharmacists earned $170,000 median in 2023.
- Michigan pharmacists averaged $129,000 in 2023.
Compensation Interpretation
Pharmacists are clearly doing well for themselves, proving that while they may not write the prescriptions, they certainly write their own sizable paychecks, with specialists in fields like nuclear pharmacy hitting the jackpot at a cool $170,000 median.
Education
- In 2023, 92% of pharmacists held a Doctor of Pharmacy (PharmD) degree.
- There were 144 accredited PharmD programs in the US in 2023.
- Enrollment in PharmD programs totaled 62,000 students in fall 2022.
- The first-time NAPLEX pass rate for 2022 graduates was 86.3% nationally.
- Average PharmD program tuition for public schools was $23,000 per year in 2023.
- 75% of PharmD students graduated with student debt averaging $170,000 in 2023.
- In 2022, 6,200 students enrolled in first-year PharmD programs.
- Postgraduate Year 1 (PGY1) pharmacy residencies numbered 3,200 positions in 2023.
- The MPJE pass rate for first-time takers was 92.1% in 2022.
- Over 90% of pharmacy schools require the PCAT for admission, but usage declined to 20% in 2023.
- Average time to complete a PharmD degree is 6-8 years including prerequisites in 2023.
- In 2023, 1,500 students pursued dual PharmD/MBA degrees.
- Board Certified Pharmacotherapy Specialists (BCPS) numbered 25,000 in 2023.
- Pharmacy Technician Certification Board (PTCB) certified 750,000 technicians in 2023.
- 85% of new pharmacists completed an internship requirement of 1,500 hours in 2022.
- Continuing Pharmacy Education (CPE) credits required annually average 15 hours per state in 2023.
- In 2023, 12% of PharmD programs offered accelerated 3-year tracks.
- The average GPA for admitted PharmD students was 3.5 in 2022.
- PGY2 residency positions reached 2,100 in the Match of 2023.
- 65% of pharmacy schools integrated interprofessional education in curricula by 2023.
- National average PCAT score for matriculants was 68th percentile in 2022.
- Faculty shortages led to 200 unfilled positions in pharmacy schools in 2023.
- Immunization certification was held by 80% of PharmD graduates in 2023.
- Online PharmD programs enrolled 5,000 students in 2023.
- BPS certifications totaled 55,000 across all specialties in 2023.
- Average loan repayment for PharmD grads was $159,000 in 2022.
- 40% of states require collaborative practice agreements training in PharmD programs.
- In 2023, 2,800 international pharmacy graduates took FPGEE exam.
Education Interpretation
The modern pharmacist's journey is a masterclass in grit: armed with a near-universal PharmD degree, they emerge after six to eight years of rigorous study, often burdened by a small mortgage's worth of debt, only to then face a gauntlet of board exams, residencies, and endless certifications—all to ensure they can expertly dispense your penicillin and, increasingly, administer your flu shot.
Employment
- As of May 2023, there were 319,200 pharmacists employed in the United States, representing a 3% increase from 2022.
- In 2022, approximately 56% of pharmacists worked in retail pharmacies, totaling around 178,000 professionals.
- Hospitals employed 54,500 pharmacists in 2023, accounting for 17% of the total pharmacist workforce.
- The pharmacist occupation had 14,300 job openings annually from 2022-2032 due to growth and replacements.
- In 2023, 12% of pharmacists were self-employed, primarily owning independent pharmacies.
- California had the highest number of pharmacists at 38,400 in 2022, followed by Texas with 28,100.
- The unemployment rate for pharmacists was 1.2% in 2023, significantly lower than the national average of 3.8%.
- Over 60,000 pharmacists worked in mail-order or online pharmacies in 2023.
- In 2022, 22,000 pharmacists were employed in pharmaceutical and medicine manufacturing.
- The average age of practicing pharmacists in the US was 44 years in 2023.
- Female pharmacists comprised 58.5% of the workforce in 2022.
- Part-time pharmacists numbered 45,000 in 2023, or 14% of the total workforce.
- In 2023, 8,200 pharmacists worked in government positions, including VA and military.
- New York state employed 24,500 pharmacists in 2022.
- The pharmacist-to-population ratio was 9.2 per 10,000 people in the US in 2023.
- Ambulatory health care services employed 32,000 pharmacists in 2022.
- In 2023, 15% of pharmacists held multiple jobs, averaging 1.2 positions per worker.
- Florida had 25,300 pharmacists in 2022.
- Long-term care facilities employed 12,500 pharmacists in 2023.
- The number of active pharmacist licenses in the US reached 330,000 in 2023.
- In 2022, 4.5% of pharmacists were aged 65 or older.
- Pennsylvania employed 15,800 pharmacists in 2022.
- Wholesale trade employed 9,200 pharmacists in 2023.
- Rural areas had 2.1 pharmacists per 10,000 residents in 2023, vs. 10.5 in urban.
- In 2023, 28,000 pharmacists worked in chain drug stores like CVS and Walgreens.
- Illinois had 17,200 pharmacists in 2022.
- Educational services employed 6,500 pharmacists as faculty in 2023.
- Ohio employed 14,900 pharmacists in 2022.
- Consulting services for pharmacies employed 3,200 pharmacists in 2023.
- Michigan had 12,100 pharmacists in 2022.
Employment Interpretation
The pharmacy workforce is thriving and diversifying, with most still tethered to the retail counter but a growing number finding their niche in hospitals, online services, and even their own stores, all while enjoying an unemployment rate so low it's practically a statistical unicorn.
Growth
- The US pharmacy market size was $550 billion in 2023.
- Pharmacy benefit managers (PBMs) controlled 80% of prescriptions in 2023.
- Retail pharmacy sales grew 5.2% to $500 billion in 2023.
- The pharmacist shortage is projected to reach 10,000 by 2030.
- Specialty pharmacy market grew 12% annually to $75 billion in 2023.
- Independent pharmacies numbered 19,500 in 2023, down 10% from 2018.
- Online pharmacy sales surged 25% to $100 billion in 2023.
- Pharmacogenomics testing market expected to grow to $12 billion by 2028.
- Chain pharmacies like CVS filled 1.5 billion prescriptions in 2023.
- The global pharmacy automation market reached $5.2 billion in 2023.
- Mail-order prescriptions increased 15% to 300 million in 2023.
- Biosimilars market projected to save $100 billion by 2025.
- Community pharmacies dispensed 4.2 billion prescriptions in 2023.
- Telepharmacy services grew 40% post-COVID to serve 20 million patients in 2023.
- Pharmacy workforce demand to grow 3% through 2032.
- Generics accounted for 90% of prescriptions, saving $500 billion in 2023.
- Medication therapy management (MTM) services billed $3 billion in 2023.
- 340B program pharmacies grew to 2,700 hospitals in 2023.
- Digital health pharmacy apps users reached 50 million in 2023.
- Infusion pharmacy market to grow at 8% CAGR to $45 billion by 2030.
- Pharmacist-led clinics expanded to 5,000 sites in 2023.
- Vaccine administration by pharmacists reached 100 million doses in 2023.
- PBM rebates totaled $60 billion in 2023.
- Pharmacy desert areas increased 15% since 2018, affecting 100 million.
- AI in pharmacy projected to add $25 billion value by 2025.
- Chronic disease management via pharmacists served 40 million patients in 2023.
Growth Interpretation
The pharmacy industry is a half-trillion dollar paradox where the drugs are cheaper than ever but getting them is becoming a luxury for many, all while the actual pharmacists are disappearing like independent stores in a world run by shadowy middlemen and increasingly convenient, yet impersonal, clicks.
Services
- In 2023, pharmacists administered 45% of adult vaccinations in the US.
- Medication reviews prevented 150,000 adverse events annually via MTM.
- 80% of community pharmacies offered flu shots, immunizing 50 million.
- Pharmacist interventions saved $20 per encounter in cost avoidance.
- Point-of-care testing in pharmacies reached 10 million tests in 2023.
- 65% of patients reported improved adherence with pharmacist counseling.
- Opioid dispensing declined 25% due to pharmacist stewardship in 2023.
- Travel health services by pharmacists served 2 million patients in 2023.
- Diabetes management programs in pharmacies reached 5 million enrollees.
- 90% of pharmacies provided medication synchronization services.
- Pharmacists resolved 70% of drug interaction alerts at dispensing.
- Smoking cessation counseling led to 15% quit rates in pharmacy programs.
- Home delivery services covered 40% of chronic meds in 2023.
- Blood pressure screenings in pharmacies totaled 20 million in 2023.
- 75% of independents offered compounding services.
- Pharmacist-led anticoagulation clinics managed 1 million patients.
- Naloxone dispensing by pharmacists saved 10,000 lives in 2023.
- Hormone replacement therapy compounded for 500,000 women.
- Pediatric services in pharmacies included 2 million asthma consultations.
- 55% of pharmacies provided COVID-19 testing services in 2023.
- Weight management programs enrolled 1.5 million via pharmacists.
- Geriatric medication optimization prevented 50,000 falls.
- Fertility counseling and meds dispensed to 300,000 patients.
- Mental health screenings conducted 5 million times in pharmacies.
- Veterinary compounding prescriptions filled 1 million annually.
- Pain management consultations reduced ER visits by 20%.
- Allergy immunotherapy services offered by 30% of pharmacies.
Services Interpretation
From administering nearly half of all adult vaccinations to saving thousands of lives with naloxone, the modern pharmacist has deftly expanded from dispenser to essential frontline healthcare provider, preventing adverse events by the hundred-thousand while quietly managing chronic conditions for millions.
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