is there a shortage of jobs for pharmacists?

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music lover in Norfolk, Virginia

46 months ago

Living in VA Beach currently and there seem to be no jobs available locally for pharmacists. All the chains claim they are laying off employees/pharmacists. Is there a national shortage of jobs or is there somewhere that they need pharmacists. Prefer VA or NY as licensed there.

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BSRPHJOE in Orlando, Florida

46 months ago

music lover in Norfolk, Virginia said: Living in VA Beach currently and there seem to be no jobs available locally for pharmacists. All the chains claim they are laying off employees/pharmacists. Is there a national shortage of jobs or is there somewhere that they need pharmacists. Prefer VA or NY as licensed there.

I recommend pounding the pavement or start your own pharmacy.

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music lover in Virginia Beach, Virginia

45 months ago

training is expensive and the degree takes 7 years currently. This used to be a fantastic profession, but has gone down hill in the last 15 years to the point there are few jobs available

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Todd MT (ASCP) in Lewisville, Texas

45 months ago

I am taking my PCATs this summer and applying anyways, the 6 figure salary is more motivation than a surplus...

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Todd MT (ASCP) in Lewisville, Texas

45 months ago

You may not find a job in a a popular city, but you can always go to the country, if you are willing to move you can find a job anywhere...

In Texas areas in dallas as saturated, but if you move to east dallas you can even get a job as a staff pharmacist without residency...so yes the 6 figures will always be around....

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AMY so frustated looking for job in Minneapolis, Minnesota

43 months ago

My company is planning on laying off at least 5o pharmacists, i'll be one of them, I hold pharmacist license in 2 states,PA and MA. i've been applying for jobs almost every day for any openings I see online for the past 6 months in both states and i'm willing to travel even more than 20 miles to work. No one has even contacted me a for job interview. This is really frustating ! I've been out of school for only 3 years and it's ready this hard to find a job.
So I would recommend anyone who already in pharmacy school to do a residency after you graduate. It will be extremely hard for phamacists who have no clinical experience to find a job.

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Linda Loray in West Covina, California

41 months ago

Todd MT (ASCP) in Lewisville, Texas said: I am taking my PCATs this summer and applying anyways, the 6 figure salary is more motivation than a surplus..."
That's how it is when school tries to lure to in. Everyone says a Pharmacist starting salary is 90-100k...but it depends if you actually find a job and can keep a job. I have friends who open up their own pharmacies and have to shut down business. I have relatives working in retail and long term care pharmacies who was laid off. And I know many more new-grads who come out and couldn't find any job and had to work part time else where to pay off their debts. I worked in a Pharmacy where there was a new grad Pharmacist quit after 3 days of work because she found out that she was paid way cheaper than promised. The hours are horrible, you got hours like doctors do, but just that doctors are highly considered and make more money. It's a dead ends jobs...lots of my Pharmacy Peers want to go into medicine after their 1st year working as a Pharmacists.

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condorcarol in Parsippany, New Jersey

41 months ago

We need to unionized have a walk out like they do in Italy, France
divided we fall united we stand

any leaders out there

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Ken L in Boynton Beach, Florida

41 months ago

Joe_Westley in Houston, Texas said: Shh liberal f4ggot.

I found my current job with Dulce Stetzer at www.medoptions.com/pharmacist-jobs

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kkm in Roanoke, Virginia

40 months ago

not really..A lot has changed in recent times...too many pharm schools here in va

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rjbryantrx in Wilmington, Delaware

40 months ago

music lover in Virginia Beach, Virginia said: but then what good is the six figure carrot dangling in front of you if each year you are replaced by yet another new grad who will take the job for just that little bit less. The six figure pay existed because there were few licenced pharmacists, now there is a glut in the market and you are seeing the result.

...Also beware of out living your degree. Get as much education as you can. I'm 59 laid off 9 months,applied to every agency I could. BS from 1975 no one will hire U, when they can get the PharmD at the same wage. Can't go back to school. Only school is U.Fl. 3yr, $30,000 TO GO THERE.
All jobs on line say BS or PharmD,, but they don't consider the B.S.unless U have some kind of specialty, Nuclear, etc.. The jobs I see online are specialize,expience in infectious disease, EM room, Informatatics (I had to look this one up in dictionary, had never seen word before), OH, and this one was my favorite, wanted Pharmacist with specialty in Neo-natal Transplant. Say what the heck is going on? Applied every where I could did not get no responses, Zero for 9 months. So now I'm going into Design and Animation. I never in my wildess dreams thought when I walked on stage to get my diploma, BS in Pharmacy, that I would outlive my degree. Great way to end a career living on your retirement pay for 7 yrs. until U can retire.
Not bitter, just shcoked.
Rick

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john in Staten Island, New York

40 months ago

5 years ago every store wanted you, now there are no jobs to be found. The schools pumped out to many degrees and the chains took control of the market and use techs and register people for support to cut down on pharmacist staff.

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rjbryantrx in Wilmington, Delaware

40 months ago

BSRPHJOE in Orlando, Florida said: I recommend pounding the pavement or start your own pharmacy.

Hey Joe;
I too am a fired, laid off, whatever BS with no FarmD. I pound keyboard for 10 months faithfull.. I enlisted every employment agency that popped up. Sent out 1000'S of resumes. No bites, not even 1 reply, no call to come in for interviews. Totally, totally discouraged, dismayedand discusted. What we need is legislative action. A ground roots movement. A coalition of Pharmacist that faithfully complied with every law, rule, ordinance the US and STate and Local gov. could think up.
I recently called the Delaware State Board of Pharmacy and asked them if U had 2 have a FarmD in Delaware to pactice Pharmacy, they unequivicabley responded that absolutely, the BS was the same as the FarmD.
Rick B. on unemployment

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aha in Bothell, Washington

34 months ago

rjbryantrx in Wilmington, Delaware said: Hey Joe;
I too am a fired, laid off, whatever BS with no FarmD. I pound keyboard for 10 months faithfull.. I enlisted every employment agency that popped up. Sent out 1000'S of resumes. No bites, not even 1 reply, no call to come in for interviews. Totally, totally discouraged, dismayedand discusted. What we need is legislative action. A ground roots movement. A coalition of Pharmacist that faithfully complied with every law, rule, ordinance the US and STate and Local gov. could think up.
I recently called the Delaware State Board of Pharmacy and asked them if U had 2 have a FarmD in Delaware to pactice Pharmacy, they unequivicabley responded that absolutely, the BS was the same as the FarmD.
Rick B. on unemployment

PharmD, not FarmD.

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condorcarol in Pine Brook, New Jersey

34 months ago

aha in Bothell, Washington said: PharmD, not FarmD.

I have a BS and PharmD been out for 8 months
I am a single mom we do need action

Got fired also for no reason I am 50 years of age file a age discrimation with human right commision along with other pharmacists

I think there is alot of age discrimation going on see all the young kids filling the retail slots at W

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BSRPHJOE in Kissimmee, Florida

34 months ago

You can file a wrongful discharge suit against your former employer
and I hope you are at least collecting unemployment compensation

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condorcarol in Pine Brook, New Jersey

34 months ago

Yes I am collecting unemployment
and filing was free with the human rights commission I have never done anything like this before but I witness them getting rid of pharmacists for silly stuff for over 1 year and made the observation that everyone was over 50--they cut staff and then you were written up for a customer waiting too long--I honestly use to pray that I didn't make a mistake--patient safety has taken a back sit to corporate greed
We need to fight back our profession is being destroy by the large corporations

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rjbryantrx@comcast.net in Wilmington, Delaware

34 months ago

Carol sorry about the FarmD. Since that comment I have became aware that even PharmDs are having problems getting work. I applaud your effort filing a law suit. I noticed that you were saying this about previous employer "W" . I was working for WALGREENS, when I was fired for stealing 2 lollipops 17 cents each and they had me on camera. I admitted That I had taken them. I thought that they were free compliments for people getting flu shots. Well, I guess they weren't. They said that they had an iron clad policy whereupon anyone caught stealing, is grounds for immediate dismissal. And so life goes. I was 58 years old. And I have been a pharmacy for 37 years. When I went to work for Happy Harry's in '03 I could have worked 100 hours a week. The scheduler at the time would beg us to work overtime. Walgreens bought us out in '06 and every thing was downhill after that. Walgreens grew into a vice that kept not hiring as people left and gave The pharmacy managers more and more work and less and less help. Hope you fair better than I have.RickyB.

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condorcarol in Pine Brook, New Jersey

34 months ago

Ricky

I have not worked in months I cannot secure a position
It has nothing to do with the advanced degree it has to do with age discrimination. I saw over and over again that pharmacist were systematically being singled out who were older. For eg. a pharmcist that worked for DR for over 27 years was fired bc he was caught on camera leaving the pharmacy for his coffee in the morning --he left his tech behind to watch the pharmacy for apprx 15 minutes he was fired bc of this meanwhile I worked at this pharmacy and it did not have a gate around the pharmacy at the time and the manager (non pharmacist) would be in the pharmcy early eg w/o pharmacist and that was okay-but this older pharmacist was fired bc he was told it was against the law to leave the pharmacy in charge of a tech--incidently he left for coffee for many years without any consequence (W had taken over in Feb and he was fired by June)

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Rick B. in Wilmington, Delaware

34 months ago

Your probably right in drawing that conclusion. At the time, I did not pursue the incident to a lawyer.. They had all ready written me up for invasion of personal space twice. However my main reason for not filing a law suite; I was afraid that they would show video of me taking a schedule drug off the shelf to fill a prescription and then they would that say I was stealing from them. And then file charges against me for theft of controlled substance. Besides, I don't want to work for a company that does want me and thinks they have something against me. I'm too old for that crap. I worked for Walgreens 2 times, before this last time. I left them the first time. The second time I was fired for not being to work on time, I was 1 hour late 2 times. As I drove away from the lst time I was fired, I was all down and I felt that I was really bad. Then, I realized they had done me a favor. Every day I was there I would say to myself, "if it doesn't get anybetter in the next hour I'm walking out the front door.
Ricky B.

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PoorBSPharmacist in Everett, Washington

34 months ago

I feel really bad for Rick and many other BS pharmacists who are over 50 y/o age and got laid off and not being able to find a job. I am a BS pharmacist in 30s--I have graduated with BS in Pharmacy and with honors (magna cum laude) and was the top of my class but every place prefers PharmDs! I know that I'm a very knowledgeable pharmacist and did all my internship at in-patient hospital pharmacy and can do a great job at in-patietns hospital setting but they won't even look at my resume because I don't have a PharmD and recenet hospital experience. The unfair thing is when I went to school, PharmD didn't exist yet so it's not like I had a choice. A few years after I've graduated, PharmD programs started. Having always been the top of my class and knowing a lot and provided exceptional services to the patients, now I can't find a job after being laid off from a retail chain trying to save money because I had the least seniority while the lazy pharmacists and techs are still there because they've been there longer and are protected by being union while pharmacists are non-union. At least, Rick and other over 50 y/o pharmacists worked many years using their BS Pharmacy degree while I only have used it for 10 years and am without a job!!! It's all really extremely unfair and angers me because I know that I'm one of the best pharmacists out there. Because of that 1 more year of clinical experience, they are called Doctors of Pharmacy while we are called Bachelors of Pharmacy doesn't seem fair either. BSPharmacy is 5 years plus 1500 hours of internship which is more like 1 year, 20 hours/wk so should be considered as a master's degree and not a bachelor's degree. They should have never created PharmD to create the discrimination against BS Pharmacists especially for those only in 30s and 40s. Had I known that PharmD program was going to start and that it was going to create such grief, I would have chosen med school with my excellent gpa. Life indeed is very unfair!!!

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Lee in Yorktown, Virginia

34 months ago

Why hire a pharamcist with only a BS when they can hire two techs with associates degrees and a single PharmD to manage the entire store. The field has been restructured, and the BS degree is no longer in use like it used to be.

This is happening everywhere. You either need to get a post-graduate degree or you need to get an associates degree. The BA and BS graduate is both over-educated and under-educated.

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pharmwhen in Virginia Beach, Virginia

34 months ago

that makes no sense. Pharmacists graduate with a minimum of 5 years college to earn a degree in Pharmacy. The store is still in need of techs. Therefore there is NO difference in the work that will be done. Both are licenced and have passed boards.

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Nick L in Medford, Massachusetts

34 months ago

pharmwhen in Virginia Beach, Virginia said: that makes no sense. Pharmacists graduate with a minimum of 5 years college to earn a degree in Pharmacy. The store is still in need of techs. Therefore there is NO difference in the work that will be done. Both are licenced and have passed boards.

I hear about this huge demand for Pharmacists in this part of the country (Boston MA). When I inquired about a 2nd BA/BS degree or equivalent, I was basically laughed at by the admissions rep of a major college here in the Boston area. She told me basically that my age (I am 36), unrelated experience and not having the math/science background plus not having a full time job would be basically a waste of time, money and I wouldn't find employment at all

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pharmwhen in Windsor, Virginia

34 months ago

Just to play devil's advocate - could someone in HR explain to me how a pharmacist who has a BS in Pharmacy, plus a Master's in Business Management, plus 25 yr experience, and passes the licencing exams in each state is less qualified for a position than a person who receives as PharmD degree and has 5 years experience. I hear over and over that a PharmD is REQUIRED for a position as pharmacist. If so, then require that all pharmacists with a BS degree and 5 years of college obtain the additional classes.

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Sydney in Huntsville, Alabama

33 months ago

condorcarol in Pine Brook, New Jersey said: I have a BS and PharmD been out for 8 months
I am a single mom we do need action

Got fired also for no reason I am 50 years of age file a age discrimation with human right commision along with other pharmacists

I think there is alot of age discrimation going on see all the young kids filling the retail slots at W

Same thing happened to me. Company I worked for found a way to get rid of me so they could replace me with a younger grad. Age discrimination is really bad for pharmacists now. They don't want us "burned out" folks.

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ag8864 in Bridgeport, Connecticut

33 months ago

I have Pharm.D and 3+ years of hospital experiences. I am trying to find a pharmacist job in Boston area for 4 months. No any reaponses.

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hardwrkrphNJ in newark, New Jersey

33 months ago

Sydney in Huntsville, Alabama said: Same thing happened to me. Company I worked for found a way to get rid of me so they could replace me with a younger grad. Age discrimination is really bad for pharmacists now. They don't want us "burned out" folks.

I worked at a chain drug store and the upper management kept telling the new graduate that they were the future and they wanted bright young faces in the pharmacy depts so they removed all the older managers and replaced them with the "bright young faces" but just remember all the "bright young faces" will be old tired burned out pharmacist one day then what will happen?

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PharmD in Philadelphia, Pennsylvania

33 months ago

In my opinion, Retail Chains are using the influx of new Pharmacists as leverage to promote all the programs that these companies offer, such as, Immunizations, MTM's, Discount Cards, Transfers, Price Matching, etc. From my experience over the past 3 to 5 years, the paradigm shift is quite amazing. Since the pharmacist shortage is no longer an issue and most pharmacists in a chain setting are not in a union, then most of the companies can change our job description at moment's notice. Most chains have parameters to monitor everything we do. The Pharmacy Laws are quite antiquated, and need to be updated to reflect the Pharmacist's role in the 21st Century.
***Side Note: PDM's are not hiring every new graduate. Also, PDM's are not hiring all of the graduate interns. PDM's are hiring Pharmacists who are able to Promote all programs, maintain customer service and increase script count and sales. Basically, if you are in a neighborhood where patients do not want to be bothered with a program and/or your ancillary staff is not the best, then you are SCREWED!!!
It is unfortunate that Seasoned/Experienced pharmacists are being fired. I believe the hiring/firing practices are based more on how fast you work and how many programs that a Pharmacist can successfully execute, then the age of a Pharmacist.

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Sydney in Huntsville, Alabama

33 months ago

The sad thing is what are we as pharmacists going to do about it? Everyone seems to have some vague idea about starting a union, etc. But as a pharmacist for over 20 years and graduating with just a B.S. before PharmD was even required, there was never any time or energy to go back to school after working 40+ hours/wk. And now no jobs because the chains have taken over? How can we get our respect back? How can we change the pharmacy laws to bring pharmacy back as a profession we can be proud to be a part of again?

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Lynn in Egg Harbor Township, New Jersey

33 months ago

PharmD in Philadelphia, Pennsylvania said: In my opinion, Retail Chains are using the influx of new Pharmacists as leverage to promote all the programs that these companies offer, such as, Immunizations, MTM's, Discount Cards, Transfers, Price Matching, etc. From my experience over the past 3 to 5 years, the paradigm shift is quite amazing. Since the pharmacist shortage is no longer an issue and most pharmacists in a chain setting are not in a union, then most of the companies can change our job description at moment's notice. Most chains have parameters to monitor everything we do. The Pharmacy Laws are quite antiquated, and need to be updated to reflect the Pharmacist's role in the 21st Century.
***Side Note: PDM's are not hiring every new graduate. Also, PDM's are not hiring all of the graduate interns. PDM's are hiring Pharmacists who are able to Promote all programs, maintain customer service and increase script count and sales. Basically, if you are in a neighborhood where patients do not want to be bothered with a program and/or your ancillary staff is not the best, then you are SCREWED!!!
It is unfortunate that Seasoned/Experienced pharmacists are being fired. I believe the hiring/firing practices are based more on how fast you work and how many programs that a Pharmacist can successfully execute, then the age of a Pharmacist.

I really dont agree with the previous statement when I worked retail my DM would constantly tell us he has been to this job fair and if we dont start doing what he requested our heads were on the line. I really believe that age has alot in determining how long you survive retail nor if you can follow a new program that they have started ,if it isnt true why are so many pharmacist having problems getting hire if they over the age of 50

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condorcarol in Pine Brook, New Jersey

33 months ago

Well when you see all these very competent pharmacist over 50 getting fired after being with the company from 4 to 20 years with some having a PharmD and energetic you start to connect the dots---Discrimination is alive and well --even in your own statement you seem to think that these older pharmacist can't promote all programs--so you yourself have a discrimination mind set
Before you know it you will be 50

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Lynn in Egg Harbor Township, New Jersey

33 months ago

condorcarol in Pine Brook, New Jersey said: Well when you see all these very competent pharmacist over 50 getting fired after being with the company from 4 to 20 years with some having a PharmD and energetic you start to connect the dots---Discrimination is alive and well --even in your own statement you seem to think that these older pharmacist can't promote all programs--so you yourself have a discrimination mind set
Before you know it you will be 50

Well If I have that mindset than Im really in trouble b/c Im over fifty!!! I was one of the people that got fired after 10 years of service to a chain company that no longer is around. I have alot to give to any company that is willing to hire me but that the problem no wants to hire me. I bring alot to the table and believe it's all good.

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UsedRPh. in Harvest, Alabama

33 months ago

Sydney in Huntsville, Alabama said: Same thing happened to me. Company I worked for found a way to get rid of me so they could replace me with a younger grad. Age discrimination is really bad for pharmacists now. They don't want us "burned out" folks.

It is alive and well. I'm in my 40's got out about 8 years before the pharm D was implemented. The lie told to us then was the same thing being told to new people now. That somehow retail will become more clinical. In the 90's it was called " cognitive services" , it was a BIG FAT lie. Then we had all the merger mania of the 90's, the gobbeling up of the mid size pharmacy chains, the emergence of the mega chains and PBM's. Now we have a surplus... TADA ! Corporate America has won... BTW ..." RPh one the go" played a role in this.
Did you ever get a call from a temp agency back in 07 or 06 when you were having a crappy day at work ? and they promised you the moon? You know 65 dollars an hour. Co-incidence ? Nope. The overall trend is down. You may want to consider other work even if it pays less. Look at foreclosures on the internet... Do you think overall wages are going up ? Pharmacist salaries will now start to go down because wall street & the federal reserve likes good jobs to really mean that a 100K job was eliminated and replaced by 5 jobs with pay rates of 20k. Then the elite can then say that unemployment problem was solved. Google " economic armageddon and you" in the video section to see the overall bigger picture. If they really wanted pharmacist to do the clinical magic they have been taught it would have been implemented long ago and insurance would have set it up that way.

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UsedRPh. in Harvest, Alabama

33 months ago

wait........ Here is a form for you to get paid for cognitive services........... see link below....

www.amcp.org/data/jmcp/Contemporary%20Subjects-383-393.pdf

Do you guys do that at the retail chains while working the drive thru? This was written over 10 years ago. Do the hundreds of new CVS's,Rite Aids, and Walgreens built since then use that form on the link above? Or are you talked down to and timed on how fast you pick up the phone?

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pharmwhen in Virginia Beach, Virginia

33 months ago

the hiring problem is because older pharmacists do not have PharmD degrees. The companies know that and are using it as an excuse to get rid of/not hire older workers. A PharmD is NOT a requirement to work as a pharmacist. A licence to practice in any given state IS a requirement for hire. That's what everyone has been saying.

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pharmwhen in Virginia Beach, Virginia

33 months ago

I'm reading about all this age discrimination ... if it is so rampant why are these educated, intelligent people not filing age discrimination lawsuits against these chains right and left? If they discriminate in the pharmacy, they are certainly doing it on the sales floor as well. And don't all these "kids" with PharmD degrees realize that they are getting paid less than what pharmacists were making in the past. Those over $100,000 paychecks are now well under that - at least in the mid-south.

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Rick B. in Wilmington, Delaware

33 months ago

Kudos and in total agreement with you. I think that maybe us old farts are too proud to form a union or complain to our congressmen. I have spoken to one of the State of Delaware compliance officers. I asked if you had to have a PharmD to practice Pharmacy in DE. She replied unequivocally no. That the BS was equal to PharmD in any situation. I replied to her that may be what the law says, but in the workmarket all of the companies are hiring the guys right of school. She said that was probably reality. I've been sending out resumes and filling out applications since 3/5/10 when I was fired for stealing 2- 17cent lollipops that were being give out to patients that got the H1N1 shots, I cannot find another job that I am capable of doing. I am not in the best of health having survived 37 yrs in pharmacy that was generous enough to give me HBP, elevated cholesterol, 80 extra pounds that I surely don't need, plantar fasciitis, that had to bea operated, stood up too many years. AD and Bipolar. But I could work 40 hours if given the chance. If anyone has been able to integrate back in thee work place, please feel free to share. I am getting desperate. There go I except for the grace of GOD and the blood the blood of our LORD Jesus Christ.

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Rick B. in Wilmington, Delaware

33 months ago

Kudos and in total agreement with you. I think that maybe us old farts are too proud to form a union or complain to our congressmen. I have spoken to one of the State of Delaware compliance officers. I asked if you had to have a PharmD to practice Pharmacy in DE. She replied unequivacoly no. That the BS was equal to PharmD in any situation. I replied to her that may be what the law says, but in the workmarket all of the companies are hiring the guys right of school. She said that was probably reality. I've been sending out resumes and filling out applications since 3/5/10 when I was fired for stealing 2- 17cent lollipops that were being give out to patients that got the H1N1 shots, I cannot find another job that I am capable of doing. I am

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UsedRPh. in Harvest, Alabama

33 months ago

Rick B. in Wilmington, Delaware said: Kudos and in total agreement with you. I think that maybe us old farts are too proud to form a union or complain to our congressmen. I have spoken to one of the State of Delaware compliance officers. I asked if you had to have a PharmD to practice Pharmacy in DE. She replied unequivocally no. That the BS was equal to PharmD in any situation. I replied to her that may be what the law says, but in the workmarket all of the companies are hiring the guys right of school. She said that was probably reality. I've been sending out resumes and filling out applications since 3/5/10 when I was fired for stealing 2- 17cent lollipops that were being give out to patients that got the H1N1 shots, I cannot find another job that I am capable of doing. I am not in the best of health having survived 37 yrs in pharmacy that was generous enough to give me HBP, elevated cholesterol, 80 extra pounds that I surely don't need, plantar fasciitis, that had to bea operated, stood up too many years. AD and Bipolar. But I could work 40 hours if given the chance. If anyone has been able to integrate back in thee work place, please feel free to share. I am getting desperate. There go I except for the grace of GOD and the blood the blood of our LORD Jesus Christ.

I would recomend watching the documentary called the corporation. It talks about typical corporate behavior. Have you ever heard of stockholm syndrome ? That's when the downtrodden develope some sort of sick love for thier oppressors. I'm sorry you are going thru what you are going thru, millions are,, not just pharmacists. When the USSR collapsed as it did, you had many educated people who suddendly found themselves broke. People kept waiting... hopeing for things to get back the way they were... It didn't happen....
If the system was honest and truthfull the ideas in this study would have came true.

www.amcp.org/data/jmcp/Contemporary%20Subjects-383-393.pdf

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UsedRPh. in Harvest, Alabama

33 months ago

Hey imagine if you were the stewardess and you were on this plane dealing with THIS type of customer !!!

www.wpix.com/news/wpix-man-busted-masturbating-on-plane,0,255716.story

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UsedRPh. in Harvest, Alabama

33 months ago

Article in Barrons, The Title?
LABOR WILL BE LESS OF A DRAG ON DRUGSTORES:

Here it is:
Credit
Suisse
Pharmacist-wage inflation has been a
meaningful earnings headwind for drugstores over the past decade, but structural
changes in the labor market should provide significant relief going forward.
Our proprietary analysis suggests
that pharmacy-wage growth should sharply decelerate and could flatline in the
near future, allowing the drugstores to better leverage selling, general and
administrative costs (SG&A) and accelerate earnings growth. We believe this
benefit is largely underappreciated by the market and represents another reason
to be positive on the group. We maintain our Outperform rating on Walgreen(ticker: WAG) and CVS
Caremark(CVS).
Pharmacy-labor inflation has been a
large earnings drag for drugstores. We estimate that mid-single-digit inflation
in pharmacist wages over the last decade has stolen 5% to 7% of earnings growth
annually from the drugstore industry, including a 2010 earnings-per-share hit of
13 cents (6%) at Walgreen, seven cents (3%) at CVS, and 10% to Rite
Aid's (RAD) earnings
before interest, taxes, depreciation and amortization (Ebitda). Investors may be
surprised to learn that pharmacy labor represents the largest operating expense
for a drugstore at 35% to 40% of SG&A. Rapid inflation in wages has been
driven by a shortage of qualified pharmacists, a period of aggressive
pharmacy-counter expansion, and historically strong script
growth.
The supply/demand dynamic of the pharmacist
labor market is undergoing a major change, in our view, as the number of
graduates is poised to sharply accelerate as pharmacy-counter growth slows and
companies roll out productivity initiatives. We believe pharmacy labor-cost
inflation will decelerate and could even flatline in the near future through
various cost-containment initiatives, which should result in a deceleration in
overall expense gr

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Sydney in Huntsville, Alabama

33 months ago

Hey I was there, I know. I've heard of a few other pharmacists lately who are lucky enough to be able to go back to school and change careers. It seems rather pointless though to have to do that at fifty when the average US lifespan has dropped to what 65? now because of job stress and the economy and especially if you've worked as a pharmacist most of your life.

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flip in Burlington, Iowa

33 months ago

aha in Bothell, Washington said: PharmD, not FarmD.

He knows that. It's actually a funny spoof of the the great "PharmD"

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condorcarol54 in Pine Brook, New Jersey

33 months ago

The article in Baron indicates to me that corporations are stealing our livehoods
and the schools are partners in crime

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PharmD in Philadelphia, Pennsylvania

33 months ago

Lynn in Egg Harbor Township, New Jersey said: I really dont agree with the previous statement when I worked retail my DM would constantly tell us he has been to this job fair and if we dont start doing what he requested our heads were on the line. I really believe that age has alot in determining how long you survive retail nor if you can follow a new program that they have started ,if it isnt true why are so many pharmacist having problems getting hire if they over the age of 50

Hello Lynn, I have seen FIrst Hand young/new pharmacists demoted, fired or threatened over the past 2 years. The point I am making is that it doesn't matter how long you work for a company, all they want are Pharmacists (new or experienced) that will promote/execute every single program. In fact, in the district I worked in, it was a seasoned Pharmacist who successfully executed the vaccination program. I have seen "older" or "seasoned" pharmacists hired over the past 2 years. I used to work in an extremely competitive market, and the direction of retail is not just dispensing medication or counseling. I speak to pharmacists at different chains in this region, and it is the same story about programs and not necessarily age. ALL pharmacists at my former chain/district were threatened on a weekly basis about execution of programs. If we did not execute the company initiatives, then we were in violation of company policies and will get fired. For the RPh's that I know that were able to transition out of retail found jobs in mail order and medical information companies. My suggestion is to switch your resume to a CV format to define the areas you specialized in Retail (ex: asthma education, clinical interventions, dur rejects), then apply to medical information positions. ex www.alliancehealthinfo.com/en/careers Good Luck!

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PharmD in Philadelphia, Pennsylvania

33 months ago

Lynn in Egg Harbor Township, New Jersey said: Well If I have that mindset than Im really in trouble b/c Im over fifty!!! I was one of the people that got fired after 10 years of service to a chain company that no longer is around. I have alot to give to any company that is willing to hire me but that the problem no wants to hire me. I bring alot to the table and believe it's all good.

Also, on usajobs.gov there is an open announcement for pharmacists.

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fitzceros in Minneapolis, Minnesota

33 months ago

Sydney in Huntsville, Alabama said: The sad thing is what are we as pharmacists going to do about it? Everyone seems to have some vague idea about starting a union, etc. But as a pharmacist for over 20 years and graduating with just a B.S. before PharmD was even required, there was never any time or energy to go back to school after working 40+ hours/wk. And now no jobs because the chains have taken over? How can we get our respect back? How can we change the pharmacy laws to bring pharmacy back as a profession we can be proud to be a part of again?

I work 40 hours a week, I go to school full time and will be going to Pharmacy school. I won't work then, but I am doing it now and you're right...I'm dog tired. But even a grad has to stay up on innovation, CE, and if you want to position yourself, you should study hospital, home care, nuclear, TPN, etc. to make yourself marketable. If the stream dries up, you find a different stream, you don't sit there and die of thirst. I will do an internship, as many rotations as I can, and be willing to look further than 50 feet from my house for a job. Odd hours, too.

Oh, and I have four kids.

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fitzceros in Minneapolis, Minnesota

33 months ago

PharmD in Philadelphia, Pennsylvania said: Hello Lynn, I have seen FIrst Hand young/new pharmacists demoted, fired or threatened over the past 2 years. The point I am making is that it doesn't matter how long you work for a company, all they want are Pharmacists (new or experienced) that will promote/execute every single program. In fact, in the district I worked in, it was a seasoned Pharmacist who successfully executed the vaccination program. I have seen "older" or "seasoned" pharmacists hired over the past 2 years. I used to work in an extremely competitive market, and the direction of retail is not just dispensing medication or counseling. I speak to pharmacists at different chains in this region, and it is the same story about programs and not necessarily age. ALL pharmacists at my former chain/district were threatened on a weekly basis about execution of programs. If we did not execute the company initiatives, then we were in violation of company policies and will get fired. For the RPh's that I know that were able to transition out of retail found jobs in mail order and medical information companies. My suggestion is to switch your resume to a CV format to define the areas you specialized in Retail (ex: asthma education, clinical interventions, dur rejects), then apply to medical information positions. ex www.alliancehealthinfo.com/en/careers Good Luck!

My point precisely. Thank you for saying it better than I.

And people...no union is going to help you be more flexible and professional. Show one case where that has ever happened and I'll eat my hat. Captain your own ship, folks. The partnerships you seek needn't be with other pharmacists. Develop relationships with department heads at hospitals, clinics, etc. This is the networking you need, not a mafioso dues taker who understands less about your profession than the retail folks you work for now!

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Sydney in Huntsville, Alabama

33 months ago

Yes and good luck. Things may be different once you become a real pharmacist and have worked for 20 yrs in the profession. Thanks for the advice but not everyone is lazy and dying of thirst.

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