job prospects for pharmacy? (1 Viewer)

[donthaveaname]

is it true that because so many people are being accepted into pharmacy, that pharmacy graduates will have difficulty finding a job?

my friend keeps telling me this and i just wanted confirmation.

I was also told that 75% of newly opened pharmacies fail within the first 5 years. it this true or is she just making it up?

and is it true that we are not allowed to open up new pharmacies, and the only way to own one is to buy one off someone else?

and one more question, does anyone know what the average salary of a pharmacist in retail and a pharmacist in research is?

thanks

 

[+Po1ntDeXt3r+]

not really

ask your friend what are they on

possibly .. but im thinking like 60% true max... 50% of new businesses fail in the first year.. was what i remember from some commerce class

kinda there are strict restrictions for pharmacies.. protectionist policies enforced by federal rules .. curious.. cos it doesnt happen in the US/UK anymore

retail > research... ive heard after PGY1 its lik 60-90 k depends on how much you work.. but its not too much thinking...research can be more rewarding intellectually and monetarily if you are very good at it in terms of grants.

 

[nchoy]

It is not too difficult to find a part time / locum job especially if you are prepared to work odd hours. Full time employment is a different matter.
Mianly big/chain pharmacies are looking for full time pharmacists & they normally put a Manager in charge of the pharmacy, therefore, you are mainly be responsible for the dispensary at the most.
Whether you are taking over an existing pharmacy or opening one brand new, it will still cost a lot of money. Depending on the size of the pharmacy, you may need at least $600,000 to buy one.

 

[rcr4fags]

i havent seen a pharmacy close down yet. NONE

you shouldnt worry about OPENING a pharmacy. your what 17 havent even got a degree and thinking about opening one?

you prob need to work at least 10 years to be able to properly manage a pharmacy, and then have enough $$$ to buy or open one up.

getting a job in pharmacy in metro sydney IS hard to get especially in the first year.

 

[danz90]

Apparently Pharmacists are still in a skill shortage, and employment rate for graduates is around 97-100%.
Job prospects are "Good" according to the Aust Govt Job-Prospects Site.

 

[nchoy]

Apparently, one of the main reasons why phramacist is in demand is being a subject favoured by female at uni and once they get married & have kids, they tend to sort of " retire ".( NO offence to any female pharmacists ) I remembered a few years back, pharmacy guild ran refresher courses for female pharmacists hoping that would ease the shortage.

 

[lionking1191]

It is not too difficult to find a part time / locum job especially if you are prepared to work odd hours. Full time employment is a different matter.
Mianly big/chain pharmacies are looking for full time pharmacists & they normally put a Manager in charge of the pharmacy, therefore, you are mainly be responsible for the dispensary at the most.
Whether you are taking over an existing pharmacy or opening one brand new, it will still cost a lot of money. Depending on the size of the pharmacy, you may need at least $600,000 to buy one.

they are expensive, but you cn usually secure loans from banks with your pharmacy degree so it's not so bad.

 

[nchoy]

they are expensive, but you cn usually secure loans from banks with your pharmacy degree so it's not so bad.

Yeh, but that is still a lot of money. Ususally, pharnacy wholesaler will also come to the party & do some sort of gurantee on the loan. However, I think the banks are not as generous as they used to be.

 

[-::Sanni::-]

I agree with rcr4fags. I've had some work experience at our local pharmacy and there is a WHOLE lot of stuff you need to do to get everything managed and organised. SO when if I get my pharmacy degree there is NO WAY i'm starting my own pharmacy. I'm going to learn and work for a couple of years in another pharmacist's business and then perhaps I might think about opening up a business.

That statistic for pharmacies failing in the first 5 years sounds something like from business studies....preliminary year, i think. If I remember correctly I think it was for small businesses. But if you become a franchisee of a large business like Amcal, then I think you'll be safe from being unsuccessful because the franchisor assists the franchisee in opening and setting up their business. Plus you'll instantly get the good reputation of the business and hence customers/patients are most likely to trust you.... think about it like McDonalds. <= oops...I got carried away XD

Oh! And the salary question might be answered in the website My Future, i.e. http://www.myfuture.edu.au/ I think it should be there! ^^ In fact I'll go check it out my self right now!

 

[-::Sanni::-]

Oh if you had trouble finding it...like me! XD Here's the link: http://www.myfuture.edu.au/services/default.asp?FunctionID=5050&ASCO=238200A I think it's for retail pharmacists. In 2006, 75.8% of full time working pharmacists received $1000 or more per week. I think that's pretty good! ^^

Oh by the way, I forgot to mention in my last post that pharmacists are direly needed in rural areas! That's why the government/the Pharmacy Guild of Australia are offering $10,000 per annum for four years for students who plan on working in a rural area. That's just proof of why pharmacits are really needed. I didn't quite meet the criteria so I couldn't apply for it for this year. But I'll try again at the end of this year! ^^

 

[nchoy]

I think you get between $35 to $40 an hour as a pharmacist. Pre reg year is a lot less, more like $ 18/hour.
It cost a lot of money to join a franchise though.

 

[-::Sanni::-]

I think you get between $35 to $40 an hour as a pharmacist. Pre reg year is a lot less, more like $ 18/hour.
It cost a lot of money to join a franchise though.

Oh i didn't know that. But $18/hour is pretty good for pre registration year.

Yeah it would cost a lot of money to buy a franchise. But to start a business from scratch is quite expensive too, maybe even more so.... But even if it is costly to get a franchise, you would surely get enough money to recover the cost, eventually.

 

[nchoy]

Oh i didn't know that. But $18/hour is pretty good for pre registration year.

Yeah it would cost a lot of money to buy a franchise. But to start a business from scratch is quite expensive too, maybe even more so.... But even if it is costly to get a franchise, you would surely get enough money to recover the cost, eventually.

I forgot to mention, you also need to pay a monthly franchise fee. I guess it depends on where the business is. I have known someone who does really well without a franchise name.
No $ 18 an hour is not too bad. $40 an hour is even better. HEHE!
YEh . it would be better to get more experiences before u start your own business. The main thing I am worry about is deregulation of the industry. Woolworths & Coles are not going to give up that easily.

 

[-::Sanni::-]

...The main thing I am worry about is deregulation of the industry. Woolworths & Coles are not going to give up that easily.

Deregulation of the industry? What do you mean by that?

 

[lionking1191]

Deregulation of the industry? What do you mean by that?

as in woolies/coles setting up pharmacy equivalents of 'liquor store'

 

[nchoy]

Deregulation of the industry? What do you mean by that?

Couple years back, they try to get the govt to change the regulation so non pharmacists can own pharmacies. They were really confident that they got it. I remembered my local Woolies had actually allocated space to put a pharmacy in the store. As soon as the regulation changed, they will put one up straight away.

 

[-::Sanni::-]

I'm sorry I'm a bit thick....umm, so Woolies and Coles have liquor stores that are equal in number to pharmacy stores? Or do you mean that they are making pharmacy stores? :S

 

[lionking1191]

I'm sorry I'm a bit thick....umm, so Woolies and Coles have liquor stores that are equal in number to pharmacy stores? Or do you mean that they are making pharmacy stores? :S

yeah setting up pharmacies inside the stores if deregulated - what nchoy said above.

 

[nchoy]

I'm sorry I'm a bit thick....umm, so Woolies and Coles have liquor stores that are equal in number to pharmacy stores? Or do you mean that they are making pharmacy stores? :S

At present, a pharmacy must be owned by a registered pharmacist, and also to qualify to dispense PBS ( national health medication ) , the pharmacy must have a government approval no. Woolworths & Coles have been trying to get their hand on these so that they can become owner of pharmacies. AFAIK, they would want to have the pharmacies situated in their premises ( similar to some of the liquorland attached to a Coles supermarket ). Imagine, you as a pharmacist, will be under a store manager's management.

 

[lionking1191]

Imagine, you as a pharmacist, will be under a store manager's management.

yeah.. and having lolly (the non-medicinal type) at the cash register + putting 'special' or 'every day low price' on half your stock...