Drug Topics - March 10, 2008 - (Page 38) 38 DRUG TOPICS MARCH 10, 2008 www.drugtopics.com Cover Story spondents who earned additional income, the average was $5,766. Of respondents with a B.S. who received additional income, the average add-on was $5,615. On average, Pharm.D.s took home an extra $5,888. How often do you receive invitations to apply for positions elsewhere? Frequency Gender matters When asked whether they believe that female pharmacists receive the same pay as male pharmacists in the same position at their pharmacy, almost three quarters (74%) of respondents replied in the affirmative. Only 3% of R.Ph.s believe that there is a discrepancy in pay between the two sexes and 23% were in the dark regarding the gender question. Almost daily Once a week Several times a Several times a Rarely or never When it comes to practice setting, more supermarket R.Ph.s (82%) believe that female pharmacists are receiving the same wages as male Percentage of practitioners. In contrast, respondents only 65% of independents responded in this fashion. 6% More B.S.-degreed R.Ph.s 27 (78%) than Pharm.D.s month 31 (67%) estimate that female R.Ph.s are paid the same as year 32 male pharmacists in the 4 same position. Furthermore, more male R.Ph.s (84%) than females (62%) believe that women pharmacists fetch the same pay as their male counterparts. In reality, our survey found that in 2007, male pharmacists raked in higher annual salaries than female pharmacists, $108,895 vs. $105,675, respectively. Compensation worksheet Are you going on a job interview? If so, here is a listing of benefits you can explore with your prospective employer. What’s in the package? Pharmacists seem to be receiving their fair share of benefits. The most commonly received benefits are vacation (97%), health insurance (97%), dental insurance (94%), holidays (92%), life insurance (84%), and sick days (84%). Other goodies mentioned were 401K plan, vision plan, store discount, CE reimbursement, flex hours, and job sharing. One pharmacist noted that a cell phone plan was part of the benefits package. One employer offered day care to sweeten the deal. Another R.Ph. said, “discounted tuition for self and family” was in his goodie bag. One pharmacist said a subscription to Pharmacist’s Letter and membership to the Arizona Pharmacy Alliance was his employer’s idea of going the extra mile. ✔ Hourly salary ✔ Sign-on bonuses ✔ Loan repayment ✔ Relocation programs ✔ Annual incentive programs based on performance ✔ Pension or retirement compensation/401K/ deferred compensation ✔ Health benefits offerings ✔ Stock offerings ✔ Merchandise discount ✔ Holidays/vacation accrual ✔ Bereavement leave/jury duty ✔ Health and wellness incentives ✔ Recognition program ✔ Reimbursement for professional associations Perks of the job Pharmacists aren’t shy about revealing the perks that their employers have dangled in front of them to entice them to join their payroll. The most commonly received perks for new hires are sign-on bonuses (67%) and relocation expenses (33%). Only 3% of respondents mentioned a car was thrown in as a fringe benefit. Another 23% answered “other.” Of those R.Ph.s who started a new job in 2007, more chain pharmacists reported that they were offered signon bonuses (78%), followed by hospital pharmacists (68%) and supermarket R.Ph.s (67%). The average sign-on bonus for those pharmacists who received one last year was $8,000. One R.Ph. who started a new job in 2007 reported that a “staying on” bonus ✔ Reimbursement for CE http://www.drugtopics.com
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