Hospital Pharmacist Salary

Average Hospital Pharmacist Base Salary in the United States

Average Base Salary

$124,351 Per Year

Salary Range: $74,513 to $163,993

Hospital Pharmacist Salary

$74,513

10%

$115,456

25% 

$ 124,351

AVERAGE

$144,534

75%  

$163,993

90%  

How Much Does a Hospital Pharmacist Make Per Year in the United States?

The national average salary for a  Hospital Pharmacist is $124,351 per year in the United States. It can vary depending on the employer and the skills required for that position, but generally, it will be about $124,351 or more annually for a gross salary. Taxes impact salaries, so to get the net salary we’ve crunched the data and gotten the tax information on what the take-home pay would be after the effective income tax rates. 

Technology Used

Microsoft Excel – Spreadsheet software

Microsoft PowerPoint – Presentation software

Microsoft SharePoint – Cloud-based data access and sharing software

MEDITECH software – Medical software

TPNassist – Analytical or scientific software

Recordkeeping software – Data base user interface and query software

Word processing software – Word processing software

Web browser software – Internet browser software

Knowledge and Expertise

Medicine and Dentistry

Customer and Personal Service

Mathematics

Chemistry

Biology

Law and Government

Soft Skills

Reading Comprehension

Active Listening

Writing

Speaking

Critical Thinking

Monitoring

What is the salary range of a Hospital Pharmacist?

Hospital Pharmacist salaries vary depending on the company you work for, your experience level, industry, education, and years of experience. The average annual salary is around $124,351 but a Hospital Pharmacist can earn a base salary anywhere from $74,513 to $163,993 per year with some companies paying more than others.

Pay ranges on average for a Hospital Pharmacist job title only vary a little, which may mean that there are not many opportunities to earn more income in the future regardless of the employers or your location, industry, and experience.

A salary range that only varies a little can also mean it is difficult to move up within the company, as there may not be as many opportunities for advancement or to change your job title. This lack of advancement can sometimes result in people feeling underpaid for their position, with little hope for an increase, which can impact their job satisfaction and motivation.

Finally, if you’re looking for a job and see one with a salary range that doesn’t vary that much, it might be worth considering whether the salary is low enough that you would be willing to take less pay to have more job security.

What are the Highest Salaries for a Hospital Pharmacist?

The highest Hospital Pharmacist salaries in the top 10% earn more than $163,993 per year. The salary range for the top 75% – 90% is between and $144,534 and $163,993 annually.

This salary data and salary estimates come from our Average Pay’s salary database of carefully collected and detailed information about pay across many industries and categories, along with different types of labor data.

What are the Lowest Salaries for a Hospital Pharmacist?

The lowest Hospital Pharmacist salaries are in the bottom 10% of earners who make less than $74,513 per year. The salary range for the lowest 10% – 25% is between $74,513 and $115,456 annually.   

This salary data and salary estimates come from our Average Pay’s salary database of carefully collected and detailed information about pay across many industries and categories, along with different types of labor data.

What is a Good Salary for a Hospital Pharmacist?

If we only look at the data for Hospital Pharmacist salaries and we don’t compare it to any other jobs, a good salary for a Hospital Pharmacist job would be over $124,351 per year. This is the average salary for this position in the United States. An excellent pay for a Hospital Pharmacist would be anything over the top 75%, which is $144,534 annually.

How Can I Increase My Salary as a Hospital Pharmacist?

There are a few ways you can increase your average salary for a profession as a Hospital Pharmacist. One way is to get promoted to a higher level and take on more duties within your employer. Another way is to gain more experience and skills in your career. You can also try negotiating higher compensation next performance review, when you are up for renewal or starting a new contract with a business.

Finally, you can look for a new job at a different employer that pays more. One thing not to overlook is companies often give their employees incentives and benefits outside of salaries. The total compensation, like healthcare, paid vacation days, 401k matches, bonuses, overtime, professional development, a career path in the company, and other benefits, need to be considered, which can add up to a lot more money than just a salary increase.

What are the Top Paying Industries for a Hospital Pharmacist?

The top paying industries for a Hospital Pharmacist job vary depending on the position’s specific responsibilities, employers, and qualifications. However, some common reported high-paying industries for include the following:

  • Professional, Scientific, and Technical Services
  • Retail Trade
  • Hospitals
  • General Medical and Surgical Hospitals
  • Pharmacies and Drug Stores
  • Finance and Insurance

Does a Hospital Pharmacist Have a Good Quality of Life?

Based on an average 2-bedroom apartment rental price, a Hospital Pharmacist would pay 15.63% of their monthly take-home pay towards rent. That’s $1,310 per month or $15,720 yearly for a two-bedroom apartment.

The rent is less than 30% of the monthly take-home pay for an Hospital Pharmacist, which can helps lessen a financial burden and impact their quality of life.

This is because a high rent-to-income ratio would leave less money each month for other expenses, such as food, transportation, recreation, and activities. It can lead to financial stress, impacting overall job satisfaction and motivation.

Considering the cost of living in a city when considering whether to accept a job offer is essential. If the cost of living is too high, it might not be worth it, even if the salary is good.

Does a Hospital Pharmacist make good money?

 In general, a Hospital Pharmacist can make a good salary. The national average salary is $52,632 annually which is less than the average Hospital Pharmacist salary, meaning most earn a livable wage. According to data and labor statistics from the Bureau of Labor Statistics, the average Hospital Pharmacist pay is above the median salary.

However, salaries can vary depending on the company you work for, what you are responsible for, education, college degree, work experience, job market, and your experience level. The highest-paid can earn upwards of 163,993 per year, while the lowest-paid income is less than 74,513 annually.

If you want to maximize your earnings as a Hospital Pharmacist, take on more responsibility, and gain more experience in related skills. Also, build interpersonal skills and strong leadership skills, get a certification in your field and then negotiate for a higher salary next performance review, when you are up for renewal or starting a new contract with a business.

The best thing you can do is develop yourself and gain knowledge. Many courses, additional training, and professional development opportunities in your area can help increase your skills and development in your job or related field.

You can also get your resume reviewed and look for a new employer that will hire and pay more or look for a career change that is hiring and may interest you more.

Salaries are also relative to the cost of living in different parts of the country. For example, the compensation for a Hospital Pharmacist will need to be higher if it is in or closer to larger cities like New York City or some states like California. The increase in pay in these areas is because of the higher than average cost of living and more interested applicants for employment versus someone living in a small town. With the cost of housing increasing and medical care premium costs, it is essential to ensure you are getting paid what you are worth.

How do I know I’m being paid fairly as a Hospital Pharmacist?

The easiest way is to see how close your current salary is to the average pay for your position in your state and city. If your income is below the estimated average wage in your area, you can try to negotiate for a raise.

You can use our research and tools to discover the average salary for a Hospital Pharmacist in your city or region to see if you are being compensated fairly. You may also compare your income to similar jobs and careers to determine whether you are underpaid or overpaid. Lastly, you can set up job alerts to see how the job market trends.

A few other ways you can research whether you’re being paid fairly as a Hospital Pharmacist is to do a job search to look at job postings for similar positions and see the estimate for the listed salary range. You can also talk to people in your network who have similar jobs and ask them what they earn. Finally, you can try negotiating a higher pay when you are up for renewal, having a performance evaluation, or starting a new contract.

What Factors Determine the Salary of a Hospital Pharmacist?

The money a Hospital Pharmacist can make each year greatly depends on a few components that determine an average base salary.

The company you work for is one of the main factors that affect how much a Hospital Pharmacist earns.

The compensation will also depend on the location, as some states and cities have a higher cost of living than others. Other factors that affect compensation are the number of hours worked, company size, job type, level of experience in your career, and location.