There’s good news and bad news for pharmacy graduates: you’ll get a job, but it won’t pay too well
Of those who graduated pharmacy in 2015, 95.5% had found full-time work in four months, and 93% were in full-time work after three years, the Graduate Outcomes Survey 2018 has found.
Pharmacists were one of the most likely groups to have found full-time employment so quickly.
This contrasted with an aggregation of all study areas: 67.1% of 2015 graduates had found full-time work in the short term, with 89.2% employed thusly by 2018.
However pharmacy grads bucked the trend in one way: they were the only group of graduates whose full-time employment dropped from the short term to the long term. All other graduates – from those who studied medicine, dentistry or nursing, to engineering, communications and humanities, saw growth in full-time employment over those three years.
“By 2018, this range had contracted to 17.1 percentage points with full-time employment rates of 97.5% for Medicine, 97.2% for Rehabilitation and 95.9% for Pharmacy down to 80.4% for those who had completed courses in Creative arts,” the report noted.
In terms of salary, the median short-term salary was $56,700 for those employed in full-time work; by 2018, the 2015 grads were earning a median of $70,000.
Pharmacy graduates received the largest increase in salaries of 78% ($32,800) but from a relatively low base of $42,300, it noted. This initial salary reflects the fact that pharmacy graduates work as interns for a year.
“The lowest median salary for postgraduate coursework graduates employed full-time four months after completing their course was in Architecture and built environment with $57,500, Creative arts with $60,000 and Pharmacy with $62,600.”
Meanwhile medicine graduates experienced a large increase in median salary of 51%, ($33,400) from one of the highest beginning salaries, at $65,000; the highest-paid graduates after three years were dentists, earning a median of $110,000 in 2018.
The data also noted a gender pay gap: female pharmacy graduates were earning slightly more than males upon graduation, but there was a gap of $10,300 three years out, with men outearning women in full-time work.