Pharmacy Administration Salary and Career Facts

<p>Careers in pharmacy administration are available for pharmacists who want to run either retail pharmacies or clinical pharmacies. These pharmacists handle both the medical and business aspects of leading a pharmacy establishment. Alternatively, some pharmacy administration jobs are available for administrators who wish to do research and educate future pharmacists. These professionals may work in medical facilities or academic institutions. </p> <p>Below is a table outlining the basic requirements for these careers. </p> <p /> <table border="1"><tr><th> </th><th> Retail Pharmacy Manager </th><th> Clinical Pharmacy Manager</th></tr> <tr><td> <b>Degree Requirements</b> </td><td> Master's or Doctorate</td><td> Doctorate</td></tr> <tr><td> <b>Education Field of Study</b> </td><td> Business Administration, Pharmacy Administration, Pharm.D. </td><td> Pharmacy Administration or Pharm.D.</td></tr> <tr><td> <b>Key Responsibilities</b> </td><td> Conduct theoretical or applied research, supervise chain pharmacies </td><td> Conduct theoretical or applied research, supervise pharmacies in healthcare facilities</td></tr> <tr><td> <b>Job Growth (2020-2030)*</b> </td><td> 2% decline (all pharmacists) </td><td> 2% decline (all pharmacists)</td></tr> <tr><td> <b>Median Salary (2021)**</b> </td><td> $137,238 </td><td> $141,088</td></tr> </table><p><i>Sources: *U.S. Bureau of Labor Statistics, **PayScale.com</i> </p> <h3 id="section---WhatTypeOfWorkWouldIDoInPharmacyAdministration">What Type of Work Would I Do in Pharmacy Administration?</h3> <p>A career in pharmacy administration could enable you to focus on research, education and/or management. If you want to concentrate on research, you may pursue theoretical or applied research that allows you to collaborate across the health sciences and other fields. Research fields range from evaluating medication compliance to examining the role of the pharmacist in managed care. </p> <p>As an educator, you may help teach students the skills and tools to tackle issues encountered in pharmaceutical practice. If you're considering management, you can advance to supervisory positions in chain pharmacies, hospitals and healthcare facilities. </p> <h3 id="section---WhatTypeOfEducationDoINeed">What Type of Education Do I Need?</h3> <p>To work in pharmacy administration, you'll typically need an advanced degree such as a Master of Science, Master of Business Administration or Ph.D. in Pharmacy Administration. Some of these may be available as dual-degree programs with a Doctor of Pharmacy (Pharm.D.), the professional degree for pharmacists, and some Pharm.D. programs include pharmacy administration as part of the required coursework. These graduate courses cover topics such as communication, administration, law, business and management, medication safety and ethics. It's recommended that you have a bachelor's degree in pharmacy that includes undergraduate courses in business or a bachelor's degree in a related science. </p> <h3 id="section---WhatCareersAreAvailable">What Careers Are Available?</h3> <p>Pharmacy administration careers can include administration of healthcare institutions such as nursing care facilities or hospitals, or management opportunities in chain pharmaceutical organizations. With a doctorate in pharmacy administration, you may be eligible for more advanced employment in government agencies or the pharmaceutical industry. </p> <h3 id="section---WhatIsTheEarningPotential">What Is the Earning Potential?</h3> <p>Salaries in pharmacy administration vary based on education and experience. According to <i>PayScale.com</i> in December 2021, a pharmacy manager in a retail pharmaceutical chain earned a median salary of $137,238, while a clinical pharmacy manager earned a median salary of $141,088. </p> <h3 id="section---WhatAreSomeRelatedAlternativeCareers">What Are Some Related Alternative Careers?</h3> <p>If you are interested in academic research and teaching, you may want to consider a job as a postsecondary teacher at a college or university, specializing in biochemistry or another medicine-related subject. For this career, you would need to earn a Ph.D. Alternatively, if you are interested in medical facility management, you could become a health services manager, where you would be in charge of coordinating operations within a clinic, nursing home or hospital unit. This job only requires a bachelor's degree, but applicants with postgraduate education and healthcare industry experience may be preferred.</p>