It's all about the basic supply/demand dynamics...
I’m in SC, 3 new pharmacy schools opened here since 2010, with more in NC and GA and here’s the result.
The entire profession suffers from over saturation. No jobs are available, current jobs get cut to part time salaries are decreasing and new grads are burdened with 6 figure loans they can’t repay.
The supply and demand remark is right.
I remember when the shortage first started in 1996. pharmacists salaries went up as pharmacies expanded and went 24 hours and the curriculum went from 5 to 6 years. Many pharmacist reduced their hours as salaries skyrocketed.
Schools responded to the demand and opened satellite campuses and pumped out more pharmacists. now hours of operation are rolling back and technology is rising and the margin pressure is causing this.
Actually law is a perfect example, still in the toilet 15 years after a massive glut, now you are either a top 20 law school grad or someone destined to clerk forever or work for bachelors degree pay with six figures in debt. I have literally been stating this would happen for 10-12 years when the expansion began. And just think, these layoffs are in a GOOD economy, just wait for the next recession- point is go find an alternative to retail or find an alternative to pharmacy, I've fortunately talked 10-20 people out of a pharmD and several are MDs DDS or RNs now. Just think an RN makes 65-70k per year in many places, and that's how much you would make with a PT <32 hrs RX job which is pretty much most new grad offers. Run, don't walk away from pharmacy and PLEASE spread the word so your friends and family know not to go into this "profession"
Schools should be regulated more. Each school should be affiliated with a medical school. Admission standards should be higher. Higher SAT scores at least 1200 to 1250. Higher PCAT scores. Everyone should be required to have a BS in chemistry or biology before they can even apply to a pharmacy school. Minimum entrance GPA of 3.6 or 3.7. The nabplex scores should be stiffer. Probably only 70 of people should be given a passing grade. Not everyone graduating from a pharmacy school should be licensed. Pharmacist should stop taking interns for 2 years and definitely be extremely more discriminatory about which schools interns are taken from. Reciprocity between states should be curtailed, you can only work in a state if you take the board again. Florida does this, but it should be even more restricted.
Maybe a new path for pharmacist should be explored. They should have the option of getting a PA along with their Pharmd. A lot of the classes should overlap. That would make pharmacist more valuable, especially in hospitals, or urgent care clinics. Give them prescriptive authority. This would be essence of a clinical profession. Then after a few years of practice.(which would be a form of internship)they could could go back to school for a couple of years and become a DO. Then they could really have clout.
4 bucks generics did all the damage
They would not be able to do the same thing to doctors, dentists, lawyers...
They tightly regulate how many schools are accredited and how many students graduate every year.
We do not take care of our profession and we are paying for it.