2019 CVS Pharmacist Rate Decrease/Market Adjustments

[PharmDBro2017]

Yeah but gotta deal with the blood!

And fecal matter. No thanks.

Hey Mr. Owl your new icon is kinda triggering me every time i see it bc it reminds me I am not in a relationship with a female. Any chance of your changing it something less offensive to reproductively starved incels? thank you.
-anteater

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[PromethazineDM]

I am willing to work as a pharmacist for 17 USD an hour in 2019. Anything lower and I am moving back to SF and working at Walmart where the minimum wage is 15 USD an hour and I know a manager there so I could prob get 16 USD an hour starting for stocking shelves where I get to listen to podcasts all day on my earbuds in a stress free environment. Apparently this is low though and most ppl say the lowest they will go is 30USD an hour?

You are willing to work $17/hr for extra liability as a pharmacist, do CE hours, and deal with stressful retail after 8 years of schooling and mountain debt of student loans? You must really like this job.

I wouldn't consider doing that low even though my work pay for CE hours or when my student loan has been paid off. There are a lot easier, more stimulating job, and less stressful job that make more than $17/hr.

 

[mentos]

You are willing to work $17/hr for extra liability as a pharmacist, do CE hours, and deal with stressful retail after 8 years of schooling and mountain debt of student loans? You must really like this job.

I wouldn't consider doing that low even though my work pay for CE hours or when my student loan has been paid off. There are a lot easier, more stimulating job, and less stressful job that make more than $17/hr.

He's not a pharmacist so don't take those posts seriously.

 

[Modest_anteater]

You are willing to work $17/hr for extra liability as a pharmacist, do CE hours, and deal with stressful retail after 8 years of schooling and mountain debt of student loans? You must really like this job.

I wouldn't consider doing that low even though my work pay for CE hours or when my student loan has been paid off. There are a lot easier, more stimulating job, and less stressful job that make more than $17/hr.

I went to school for a lot less than 8 years for the degree. Also extra liability is a joke. Pharmacists rarely get sued. I know pharmacists that have sent patients to the ED from getting them sick and because their rapport was soo good with their customers they did not get sued. The reality is that most people will not sue you for messing up. I imagine CEs will be a pain in the butt though...

 

[Son_Goku]

Are these changes only applicable to the newbies or is it even the currently employed pharmacists that are getting their pay docked?

 

[Sine Cura]

I went to school for a lot less than 8 years for the degree. Also extra liability is a joke. Pharmacists rarely get sued. I know pharmacists that have sent patients to the ED from getting them sick and because their rapport was soo good with their customers they did not get sued. The reality is that most people will not sue you for messing up. I imagine CEs will be a pain in the butt though...

It's much easier to replace pharmacists these days then techs

 

[mentos]

Are these changes only applicable to the newbies or is it even the currently employed pharmacists that are getting their pay docked?

New hires for now. They will probably try to push the current high earners away.

 

[nextyearrx]

So our district had a conference call yesterday and the DL had said that with the oversupply of pharmacists and to be more in line with the market competitors (i.e. Walgreens), that CVS was going to be making market rate adjustments with pharmacists.

No details as to if this was only a regional thing, or if it only applied to new hires. Has anyone else heard this?

Starting when does this take in to effect??

 

[AP191]

This is California only. Nurses in the two states I have worked make nothing close to $50/hr. More like 30-40. Personally know an RN who's starting wage was $24/hr in a hospital.

Agreed. My sister, a RN, started about $28 and that was an overnight shift at a hospital in Chicago right out of school. After going through a couple of jobs over 2 years, she got a job at another hospital paying $34 an hr. Don't get me wrong, it still pays well for the amount of schooling.

 

[mentos]

Agreed. My sister, a RN, started about $28 and that was an overnight shift at a hospital in Chicago right out of school. After going through a couple of jobs over 2 years, she got a job at another hospital paying $34 an hr. Don't get me wrong, it still pays well for the amount of schooling.

California is in a world of its own. I met a male nurse who made $35/hr back in 2006, he was working double time so was pulling in $70/hr. I assumed he was popular with the lady nurses but he said he had no luck cause they all dated the doctors who made much more.

 

[PharmtoCS]

Nursing is a tough profession. We think dealing with rude customers in retail pharmacy is bad enough. They not only have to deal with rude and combative patients but also all sorts of bodily fluids and smells.

 

[alpha12]

California is in a world of its own. I met a male nurse who made $35/hr back in 2006, he was working double time so was pulling in $70/hr. I assumed he was popular with the lady nurses but he said he had no luck cause they all dated the doctors who made much more.

I ain't saying she's a gold digger. LOL. He should have done the same. Find a female doctor.

 

[BMBiology]

What is the latest news? Is CVS going to cut current pharmacist salary? Like $65 to $55?

What is the new rate for new pharmacists?

 

[mentos]

What is the latest news? Is CVS going to cut current pharmacist salary? Like $65 to $55?

What is the new rate for new pharmacists?

New hires will get low $50s/hr just like Walgreens. Current pharmacists will keep their salary for now. Is it even legal to lower it?

 

[Sine Cura]

Lowering nominal wages is a third rail even CVS doesn't want to touch because it would likely trigger discrimination lawsuits (older pharmacists tend to make more)

 

[Balls on the Line]

The cruelest joke will be on those techs who ten years ago pursued a pharmD only to see a gross income of 50-75K as their old position is price controlled up by socialist policy so that it's practically a wash between pharmacist and tech pay. The state of affairs here really sucks. Not hard seeing this coming to a town near you.

 

[BMBiology]

Tax cut was supposed to go to employees. Instead CVS used this extra profit to borrow $40B to buy Aetna. So in order to pay the interest from this massive debt, CVS needs to cut pharmacist salary.

 

[Balls on the Line]

CVS debt maturity profile

 

[BMBiology]

Lowering nominal wages is a third rail even CVS doesn't want to touch because it would likely trigger discrimination lawsuits (older pharmacists tend to make more)

Yes, cutting salary can lead to age discrimination lawsuits. Cutting benefits like 401 k, HSA, vacation days is much easier.

 

[Dred Pirate]

The cruelest joke will be on those techs who ten years ago pursued a pharmD only to see a gross income of 50-75K as their old position is price controlled up by socialist policy so that it's practically a wash between pharmacist and tech pay. The state of affairs here really sucks. Not hard seeing this coming to a town near you.

WTF??? socialist policy? if anything it is capitalism that is driving RPH wages down (supply vs demand)

 

[alpha12]

New hires for now. They will probably try to push the current high earners away.

Yeah. You just fire them and hire them back. It's easy to push out people that make too much. Just lower their hours. Make them float. We all know the tricks they use. They will get older pharmacist wages in line with new ones.

 

[projektreverb]

Devil's advocate: They also make less than half of what we make in the US....

 

[Sine Cura]

How likely is it that you see gleaming temples of glass and steel in other nations like your typical prestigious U.S. teaching hospital?

 

[APN-59 rph]

How likely is it that you see gleaming temples of glass and steel in other nations like your typical prestigious U.S. teaching hospital?

The last GTOG AS that I was in a few weeks ago had crews installing a lot of fiber (among other things) which is not a simple or inconsequential job..and pays pretty well. Experienced body shop men are approaching 90k. As an aside..I am seeing a lot of customers fleeing..actually fleeing the chains because they honk so bad for everybody...

 

[PikminOC]

I disagree. Current pay for Canadian pharmacists is 71,000 USD which is around 35 USD an hour. And that wage is falling. So i think 35 USD is more than a fare wage for our training and work.

How much in taxes does the canadian pharmacist pay?

 

[PikminOC]

How likely is it that you see gleaming temples of glass and steel in other nations like your typical prestigious U.S. teaching hospital?

You see that even in regular hospitals now

 

[Modest_anteater]

How much in taxes does the canadian pharmacist pay?

A higher percent than American PharmDs.

 

[PikminOC]

Anyone watch Shipping Wars? The auction parts are good.

 

[Lexington2012]

A higher percent than American PharmDs.

I found this hard to believe. I ran some numbers, and you are correct. At an income of 71k CAD, they pay a slightly higher rate for federal taxes.

 

[nextyearrx]

CVS debt maturity profile

Where did this come from?

 

[Balls on the Line]

Where did this come from?

I know this info is tough to find. I was surprised to pull up a chart like this. Try looking for Walgreens debt profile. One would figure this info would be front and center in WBA financial statements, but all that's revealed is a long term debt figure, no maturiry profile. There are some websites that have it but behind a paywall. Sometimes an old chart is found but footnotes stipulate the data may be incomplete.

For ****s and giggles go through a WBA financial statement and the gobbely-gook about non GAAP reconciliations. I mean, how is this company not a criminal enterprise? I've said it before and I'll say it again. The powers that be did not abolish the Enron model, they made the template systemic. Any wonder why there are 21T in undocumentable adjustments just thru DoD and HUD?

I came across some info last nite about some predictions from a regarded figure in trading Here are his predictions:

Timetable:
UN Agenda 1921, The Great Global Financial Reset by no later than 2022 (much like Cyprus 2012-2013);

WWIII around 2025;

UN Agenda 2030 – all people RFID-tagged like cattle, with no other way to buy or sell, monitored 24/7 Red Chinese “social credit” style, all private property confiscated;

2045 – Age of AI robotics, human population reduced to 500 million-2 billion, all brown, heavily homosexual, transsexual, trans-humanised, rule by a technocratic elite run by evil, narcissistic sociopaths…

Furthermore, this is his prediction for the USA:
The US is headed for economic and social chaos in the cities particularly and a federal government declaration of martial law. Both the US military and police have been preparing for this. Witness the recent US military exercises held in Los Angeles. Urban warfare is coming.

They tell us in the movies what's coming. Predictive programming.

 

[projektreverb]

^where did you find that info? Alex Jones?

 

[gwarm01]

I know this info is tough to find. I was surprised to pull up a chart like this. Try looking for Walgreens debt profile. One would figure this info would be front and center in WBA financial statements, but all that's revealed is a long term debt figure, no maturiry profile. There are some websites that have it but behind a paywall. Sometimes an old chart is found but footnotes stipulate the data may be incomplete.

For ****s and giggles go through a WBA financial statement and the gobbely-gook about non GAAP reconciliations. I mean, how is this company not a criminal enterprise? I've said it before and I'll say it again. The powers that be did not abolish the Enron model, they made the template systemic. Any wonder why there are 21T in undocumentable adjustments just thru DoD and HUD?

I came across some info last nite about some predictions from a regarded figure in trading Here are his predictions:

Timetable:
UN Agenda 1921, The Great Global Financial Reset by no later than 2022 (much like Cyprus 2012-2013);

WWIII around 2025;

UN Agenda 2030 – all people RFID-tagged like cattle, with no other way to buy or sell, monitored 24/7 Red Chinese “social credit” style, all private property confiscated;

2045 – Age of AI robotics, human population reduced to 500 million-2 billion, all brown, heavily homosexual, transsexual, trans-humanised, rule by a technocratic elite run by evil, narcissistic sociopaths…

Furthermore, this is his prediction for the USA:
The US is headed for economic and social chaos in the cities particularly and a federal government declaration of martial law. Both the US military and police have been preparing for this. Witness the recent US military exercises held in Los Angeles. Urban warfare is coming.

They tell us in the movies what's coming. Predictive programming.

You finally went full Carol and got busted. Show more restraint next time

 

[IndyPrePharm]

Nodd to mr mentos on being in those days of overnights at CVS with the $5/hour differential and then to be told oh ya...your diff is going to $2/hour and it'll only start after midnight...don't fret though cuz here's your 2% pay raise to even things out cuz I'm lookin out for ya buddy. Then there was the ESPP 15% discount cut to 10% without ever an official announcement about it. Then the turning off of the lights overnight at slower stores giving the overnight rphs at those stores just one month to jump into the float pool or get out. The writing has been on the wall for years. The day is just finally here that they finally lower the wages. The rumor is true, though, in Indiana...starting wage for new grads is being cut from $55 to $52. Anyone else having the cuts should post their state and how much the cut is. I'm curious of the stats. It will be interesting to see if there will become a large wage discrepancy between retail and hospital as there used to be...but the opposite this time around with hospital rphs being paid significantly higher in years to come and retail becoming the chum bucket to work at. You've got Congress constantly pushing for raises for fed employees that raises the VA rph salaries...then neighboring hospitals doing wage analyses every 3-5 years that will subsequently raise their rph salaries to match VA's. In this scenario, I can imagine hospital wages continuing to climb slowly as retail sinks. Other thoughts? This field has been crazy full of changes ever since I entered it 10 years ago. Plan your backup investments.

 

[mentos]

Hospital pay used to be significantly lower. The only reason it rose so much was to compete with the retail chains. Expect hospitals to lower their starting pay soon.

 

[Thoughtfulsinner]

This needed to happen. You can't have pharmacists making the same as family practice MD's.

 

[WVUPharm2007]

This needed to happen. You can't have pharmacists making the same as family practice MD's.

I agree. Let's pay PCPs more then.

 

[projektreverb]

So the reason why our salaries are going down is because PCP salaries are stagnant?

 

[Momus]

So the reason why our salaries are going down is because PCP salaries are stagnant?

Huh? MDs have been enjoying close to 7% increase in salary every yr.

In fact, the trend MD salary in most specialties has been straight up.

 

[mentos]

So the reason why our salaries are going down is because PCP salaries are stagnant?

No not at all. There are tens of thousands of new PharmDs every year and not enough jobs for them all. Supply and demand.

 

[projektreverb]

No not at all. There are tens of thousands of new PharmDs every year and not enough jobs for them all. Supply and demand.

My point exactly. The point that our salaries need to go down because PCP salaries haven’t gone up (a few posts above) isn’t correct.

 

[Momus]

My point exactly. The point that our salaries need to go down because PCP salaries haven’t gone up (a few posts above) isn’t correct.

Yep, 0 raises for MDs...

Primary Care Compensation on the Rise; Family Physicians Up 17%

Medscape: Medscape Access

 

[projektreverb]

View attachment 252401

Yep, 0 raises for MDs...

Primary Care Compensation on the Rise; Family Physicians Up 17%

Medscape: Medscape Access

That’s overall physician income. What about family doc?
Edit: just realized one of the links was for that lol

I was being sarcastic FYI. If more discussion was evidence based it would be great.

 

[rxfx09]

Well this is depressing. Unless you plan on marrying someone with a decent income do not go to pharmacy school, take out $100k+ in student loans and work for anything less than $50/hour full time in a retail or similar setting. You’ll make too much to qualify for assistance (cause you’ll be broke) and too little to afford beyond the basics. Do the math. Youll most likely be living check to check or pinching pennies. And that’s not including childcare, investments or retirement. They’re preying on the desperate.

Came back to emphasize for those in the back... YOU DO NOT go to school for 6+ years and earn a doctorate’s degree to spend majority of your life stressed out at someone’s busy and understaffed pharmacy while they CONTINUE to find ways to cut your already low salary. If someone will take $45/hour someone will take $40 and $35, $30.. It’s NOT worth the investment of your time to be over educated, under valued AND under paid. The liability is too high. You are better off starting a YouTube page.

 

[ldiot]

WTF??? socialist policy? if anything it is capitalism that is driving RPH wages down (supply vs demand)

Actually guaranteed government loans to students along with enrollment targets required for state funding of universities are socialist policies which have driven up tuition, enrollment (and thereby pharmacist supply) and have also left new grads in massive debt.

I've seen universities interview applicants who didn't even complete the application just to try to meet the enrollment target that is required for state funding.

 

[Sparda29]

Weren't we getting $55/hr in 2005. We should be getting $70/hr now to compensate for inflation.

 

[WVUPharm2007]

Weren't we getting $55/hr in 2005. We should be getting $70/hr now to compensate for inflation.

I was only getting $42/hr in 2008...then started at $55/hr for CVS in 2011.

 

[mentos]

Weren't we getting $55/hr in 2005. We should be getting $70/hr now to compensate for inflation.

There wasn't a surplus back then. Supply and demand.

 

[Sparda29]

I was only getting $42/hr in 2008...then started at $55/hr for CVS in 2011.

The CVS pharmacists around here were getting $55/hr in 2006. Maybe its a regional thing.

What I'm trying to figure out is why NYC hourly rates have lagged behind California rates.

 

[ldiot]

So are they renigging on the 54.90 offers to current P4s? Or is this aimed towards old timers? Does anyone actually know?