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Never Recommend A Residency

TL;DR - Give students another point of view and recommend they check out fellowship opportunities.

What do you typically say when a pharmacy student asks for your opinion on additional training after graduation? Pharmacist Compensation analyzed data from 5,000+ pharmacists to help you form an opinion.

The data confirms most pharmacists (72.6%) do not pursue additional training after graduation. Those who do pursue additional training are mostly PGY1 programs (16.3%), followed by PGY2 (8.1%), and Fellowships (3%).

Residency and fellowship programs can help pharmacists specialize in certain areas of pharmacy practice. In some cases, employers prefer job candidates to have additional training and experience under their belt. Does an additional training program lead to higher compensation? On average, yes.

Pharmacists who completed a fellowship reported significantly higher compensation than all other cohorts. Interestingly, the residency trained pharmacists reported similar wages to non-residency trained pharmacists. However, your recommendations to students should extend beyond monetary gains. Check out the job satisfaction chart below:

Same story, different chart. Pharmacists who completed a fellowship reported the highest job satisfaction. Again, there did not appear to be any meaningful difference between PGY1 versus PGY2.

Conclusion - Never recommend doing a residency. Let the pharmacy schools take care of that. Give students another point of view and recommend they check out fellowship opportunities.

_{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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