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Level Up in 2024 - Follow the Trends
January 1st, 2024
Hello there,
Happy New Year! Congrats on another trip around the sun.
It’s a natural time of year to look back and plan ahead. Among other goals, I look forward to curating more stories for your enjoyment in 2024.
Pharmacy Headlines
Today’s Insights
Level Up in 2024 - Follow the Trends
TL;DR - Certain areas of pharmacy (Pharma & Managed Care/PBM) are at the center of a Venn diagram of compensation, work-life balance, and professional growth.
Big money might be your first thought about our peers working in Pharma.
Pharmacist Compensation collected data from 2,900+ pharmacists in 2023. Total wages equals salary + overtime wages + bonuses.
But is that all it takes for the high job satisfaction they are reporting?
The above chart is the average job satisfaction reported for the top 6 areas of pharmacy (determined by number of participants). Participants rated their job satisfaction on a 0-10 scale (0 = no job satisfaction & 10 = high job satisfaction).
Work-life balance, including paid time off (PTO), is undoubtedly a factor. On average, pharmacists in Pharma, followed by Managed Care/PBM pharmacists, reported higher amounts of PTO and the least difficulty getting PTO approved. Starting to notice a trend in why they are #1 and #2 on the above job satisfaction chart?
The cherry on top of the cake is the sentiment around professional growth opportunities.
Pharmacist Compensation asked participants to rate their professional growth opportunities.
More than 60% of participants in Pharma, followed by 50%+ in Managed Care/PBM, reported very or extremely high satisfaction towards professional growth opportunities. Comparatively, Retail and Hospital pharmacists had the lowest percentage with high satisfaction and highest percentages reporting unsatisfied.
In summary, certain areas of pharmacy (Pharma & Managed Care/PBM) are at the center of a Venn diagram of compensation, work-life balance, and professional growth.
If you’re wanting a change in 2024, follow the trends towards a happier you.
Pharmacist Compensation provided the data displayed in the above charts. Join thousands of pharmacists and take the anonymous survey. All participants receive access to an interactive dashboard that can be filtered by Job Title, Company, Area of Pharmacy, and more.
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