Explore the average expected salaries for pharmacy technicians, including factors that influence earnings and career growth opportunities, in this guide.
You may be an aspiring pharmacy technician. So, this path allows you to enter the healthcare field directly after high school or college without the need for extensive training or prior experience.
As you gain experience, you can pursue certification or even advance toward becoming a pharmacist.
Yet, a common question arises: what is the earning potential for pharmacy techs? Understanding the average salary for a pharmacy technician in the U.S. and insights into the job market is crucial before making your decision.
For a comprehensive overview of standard salaries, including factors influencing earnings and strategies to boost your income, visit https://pharmtechedu.com/what-are-standard-salaries-for-a-pharmacy-technician/. Here, you'll find all you need to know about optimizing your earning potential in this rewarding career.
What Is The Standard Salary For A Pharmacy Technician?
As of 2020, the U.S. Bureau of Labor Statistics (BLS) reported the national average salary for pharmacy technicians at approximately $36,000 annually, with an average hourly wage of around $17.50.
Typically, pharmacy technicians adhere to a 40-hour workweek, aligning with the standard for many U.S. occupations.
However, the nature of pharmacy operations, which often extend beyond traditional hours and include 24/7 availability, might necessitate working shifts outside the usual 9-to-5, including weekends.
This schedule offers a mix of challenges and opportunities, providing flexibility for those balancing education or another job and the possibility of earning extra through additional hours.
Notably, while the base annual salary averages $36,000, pharmacy technicians earn upwards of $50,000 annually, equating to more than $24 an hour, according to the same BLS data.
Despite this potential for higher earnings, pharmacy technicians generally earn less compared to other healthcare professionals within the same category of healthcare practitioners and technical occupations, highlighting a variance in compensation across the healthcare sector.
Influencing Factors on Pharmacy Technician Salaries
The variance in pharmacy technician salaries, ranging from an average of $36,000 to some earning up to $50,000 annually, can be attributed to several key factors:
- Geographic location
- Employment setting
- Professional certifications and credentials
Geographic Location
According to the BLS, states like California, Alaska, and Washington are among the top payers for pharmacy technicians, with California's average reaching up to $47,620 in 2020.
Urban areas, particularly around San Jose and San Francisco, boast higher averages of over $56,000, reflecting both a strong job market and the high cost of living.
Conversely, states such as West Virginia, Arkansas, and Kentucky report lower average salaries, under $30,000, which may be balanced by a lower cost of living, illustrating the significant impact of location on earnings.
Employment Setting
Diverse work environments, including retail pharmacies, hospitals, nursing homes, and research facilities, also influence salary outcomes.
Hospital-based technicians often enjoy higher wages than their retail counterparts due to their specialized skills and the competitive nature of these positions.
The employment setting, whether in bustling metropolitan hospitals or community retail pharmacies, can significantly affect your salary, with factors like employer type and ownership further contributing to salary variability.
Professional Credentials
Holding specific credentials, such as certification from the Pharmacy Technician Certification Board (PTCB), can slightly elevate salaries.
While becoming a certified pharmacy technician may lead to a modest pay increase, it's crucial to communicate with employers about the financial benefits of certification.
Continuous education, focusing on areas like patient safety and pharmacy law and acquiring additional qualifications for medication therapy management or immunizations, can further enhance a technician's value and salary potential.
Experience in specialized areas, like prior authorizations, also positions technicians for higher-paying roles with less patient interaction, emphasizing the importance of holistic practices in career advancement.
Increasing Your Earnings as a Pharmacy Technician
While stepping into the role of a pharmacy technician brings financial limitations compared to the higher salaries pharmacists enjoy, there are strategic ways to boost your income within this vital healthcare position. Let us examine the strategic ways to increase your income.
Certification is Key
Earning a certification can lead to a pay increase of $3 to $4 per hour for pharmacy technicians compared to those without certification.
Enrolling in an online pharmacy tech course or a pharmacy technician course online can be a significant first step toward this credential.
Exploring New Employers
While exact pay rates are not universally advertised by pharmacy retail chains, job listings can provide insights into wage variations.
For instance, hourly wages might range from $14 to $15 at Walgreens and CVS, dip to $10 to $12 at Rite Aid, and peak at $15 to $16 at Walmart. Investigating different employers could uncover opportunities for higher pay.
Considering Different Work Environments
Your geographical location might offer the chance to elevate your earnings by transitioning from a retail to a hospital setting or the reverse, depending on where the higher salaries lie.
Expanding Your Skills
Augmenting your qualifications with additional duties or specialized knowledge can open doors to negotiate higher wages either in your current role or in a new position that values your expanded skill set.
Leveraging Experience
The length of time you've dedicated to working as a pharmacy technician can significantly influence your salary negotiations. With more years under your belt, you're in a stronger position to request annual raises or seek out better-paying opportunities.
Evaluating the Financial Possibility of a Pharmacy Technician Career
Starting a career as a pharmacy technician offers multiple pathways, each with its financial considerations. For many, starting with on-the-job training presents a cost-effective entry point into the field, allowing for the accumulation of practical experience at entry-level wages.
Opting for certification, which is relatively affordable at $129 through PTCB, can further enhance your credentials without significant expense, especially if your employer covers the certification cost.
Alternatively, pursuing a structured educational path through enrolling in an online pharmacy tech course or a pharmacy technician course online provides a more formalized foundation in the field.
This route, while potentially involving more upfront investment, equips candidates with comprehensive knowledge and skills, potentially accelerating professional advancement and financial rewards.
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Conclusion
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