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What does the outlook for pharmacists look like?

I'm a 2nd year pharmacy student and I currently work at Hy-Vee Pharmacy. I have heard mixed answers for this question. #pharmacy #pharmacist #joboutlook #july20

july20 pharmacy pharmacist joboutlook
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Shelly’s Answer

The outlook depends on the setting of pharmacy. A pharmacist will give you a different outlook based on their area of practice: retail, hospital, insurance or pharmaceutical industry. Overall, the pharmacy degree can be very versatile and can open doors to a number of avenues if you look for them. With the cost of healthcare, and drug costs specifically, expected to be growing substantially, pharmacists could play a vital role in helping to manage that trend.
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EJ’s Answer

The future outlook of pharmacy is changing like other industry and you need to adapt accordingly. I used work in retail pharmacy and saw the decreased in demand. However, there are more demands in other settings like insurance or pharmaceutical industry. There are many other practice settings other than retail or hospital settings but school doesn't offer variety of rotation site. You need to explore more then you'll see how versatile pharmacy degree can be. I think demand for pharmacists will grow as the cost of healthcare and drug costs growing each year.
Thank you comment icon Thank you taking the time to comment EJ! I'm open to exploring other areas of pharmacy in hopes of finding the area I'm passionate about. Shayna
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Martin’s Answer

I graduated in 1980 with a Pharm.D. I have been a pharmacy mgr, pharmacist recruiter, pharmacy district manager, pharmacy owner, project manager for new pharmacy technologies, etc.
The current job market for pharmacists is probably the most difficult I have seen in the last 50 years. However, not all is gloom and doom. Quite the contrary.
A number of good ideas have been suggested already. I’d like to add another suggestion.
A law degree post Pharm.D. would be something to consider. A number of fellow pharmacists who have sons and daughters in pharmacy school also have the same concerns as you may have concerning the job market. Interestingly, those students have all been approached to become attorneys post pharmacy school. It appears to be an underserved market if law interests you.
Thank you comment icon Interesting, I have never considered that. I'll look into this, thank you for commenting :) Shayna
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Tia’s Answer

Great question! I graduated from pharmacy school in 2005 so I have been in pharmacy for 15 years. I think you have to change with the future outlook of pharmacy. I completed a residency (general hospital PGY1) following pharm school graduation as a way to secure my future and to move around in the pharmacy profession. Though I was fortunate to remain in Michigan, if the job markets changes, you also have to be willing to move (if possible) where the jobs are. Also, work to get certifications such as BCPS, CDE, etc also helps makes you stand out from other pharmacists as well. I use my P4 rotations to my advantage to try and get rotations that made me more marketable for a residency. I also completed most of my rotations at the hospital system where I eventually did my residency so they will become familiar with me prior to the match. We cannot control the future outlook of pharmacy but you have to make sure you are more marketable for those changes when they come.
Thank you comment icon I liked hearing people's experience, so I thank you for taking the time to comment!! Also thanks for the tips on residency, I definitely plan to complete at least a PGY1. Shayna
Thank you comment icon No problem good luck with pharmacy school! Tia C
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Steven’s Answer

As many of the answers state, pharmacy school is, at a minimum, a 6-year commitment. The curriculum is very science-based, with chemistry-related courses as a core (inorganic, organic, biochem, medicinal chem, etc.)
I don't agree with other statements that pharmacy is heavy in math - there is some math but nothing like you might encounter in an engineering space.
although a 6-year commitment seems like a lot, especially when you're younger, once you get through you will be set for life. almost all pharmacy jobs start in the low 6-figures, and you can have a ton of career choices.
My own journey started as a community pharmacist, filling prescriptions in a retail setting. From there I became a district manager for the chain I was working at, and then I became involved in my organizations managed-care division and eventually would up selling pharmacy benefits for a short time. Then I moved into the insurance industry (think Blue Cross, United, etc.) where I have had a very successful 20-year run.
On the insurance side we hire many pharmacists to do things like review prior authorization requests - we also have pharmacists working in the sales and account areas...so again, lots of places to go if you are inclined!
Thank you comment icon I appreciate you taking the time to answer this. Shayna
Thank you comment icon Interesting perspective from the insurance side. Thanks for your response! Shayna
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Dinah’s Answer

I am a P1 right now, as well as a pharmacy intern at CVS Pharmacy. I have been with CVS Pharmacy for 3 years now and most of the pharmacists I have worked with all told me that retail is really saturated and many pharmacy students are graduating and not finding a job. I am from Illinois, so I am not so sure about other states. I am at a pharmacy school in Indiana and I am coming back home to Illinois to do a residency. My pharmacy manager has been with CVS Pharmacy for over 16 years and she said that Oncology Pharmacy is the way to go. So, I researched that field and I actually found it really interesting. I am planning to do a 2 year residency in Illinois in Oncology Pharmacy. So a Pharm D degree is very versatile and has so many doors that can be opened. Research is the best way to go to find out what other areas you can really enjoy.
Thank you comment icon I have heard similar things about retail pharmacy, but I haven't heard that about oncology. It sounds like an interesting field for sure! Thanks for commenting :) Shayna
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David’s Answer

Looking at published career outlook statistics, it appears that demand for pharmacists in dispensing settings will be stable through 2028. With an aging population, there will be an increased demand for health care services, but the landscape is changing. Retail pharmacy jobs likely will be decreasing while mail-order, nursing home, and elderly living center opportunities increasing.

Keep in mind that a pharmacy degree is quite versatile, something that is often overlooked. Having the knowledge, skills, and vocabulary of pharmacy is highly valued in pharmaceutical and biotech, which are growing. Entry positions may include working as a clinical research associate (monitor), or in regulatory affairs, drug safety (pharmacovigilance), or medical information. These positions may be in a biopharmaceutical company or Clinical Research Organization that supports them. Once in industry, a pharmacist may find themselves well positioned for many positions across R and D or even on the commercial side. An internship or industry rotation is an excellent way to explore this and get experience. Some companies even offer early career "development" programs. Working in the biopharmaceutical industry is rewarding in many ways, including being a part of development and access to important new therapies for unmet medical need.

David recommends the following next steps:

Include an industry rotation as part of your Pharm D degree program.
Consider an internship in pharma or biotech.
Explore Pharmacist Development Programs or Pharmacist Fellowship Programs as a first career after graduation. While there are few of these and they are extremely competitive, they are an outstanding start of a career.
Thank you comment icon Thanks for the excellent advice David! I'm open to exploring more areas of pharmacy. Shayna
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Karina’s Answer

I think that if you pair your pharmacy degree with an additional area of focus such as business or nutrition - the sky is the limit! Consider an MBA, MPH or Nutrition degree or a pharmacy residency after you graduate. Good luck!
Thank you comment icon That's awesome to hear. Thank you K! Shayna
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