10 Ways to Boost Earnings for pharmacists
10 Ways to Boost Earnings for pharmacists
What if you love what you’re doing as a pharmacist but you’re looking for ways to boost your earnings as a pharmacist? Here is the list of ways you can improve your earnings as a pharmacist.
- Start a side hustle, These side hustles can be related to your pharmacy skills set or it can be non-pharmacy related. These side hustles can add to serious cash over time.
- Add certifications or credentials. Another way to boost your income is to get board certified or other relevant certifications. Some employers will reimburse you for the costs incurred and most likely will give you a raise. For example, my wife received a raise after she obtained her BCGP. She moved into a position only reserved for board-certified pharmacists and got a boost in her pay.
- Promotion-Getting promoted to a pharmacy manager, director of the pharmacy, or vice resident of pharmacy can and will significantly boost your salary.
- Take advantage of geography arbitrage. For example, if you move to Tyler, Texas, you can claim an average salary of $178,000 according to data from BLS. Moving to smaller cities such as Tyler, Texas may also cut your cost of living and thus make your money work harder for you.
- Pick-up extra shifts-Pharmacists needed a vacation too and if approved you can volunteer to cover shifts for staff pharmacists on vacation. Another way to approach this is by taking extra shifts from an outpatient pharmacy if you’re a hospital pharmacist and vice versa. Another approach is to take an as-needed (PRN) position outside of your employment.
- Medical Writing-This form of freelance work plays into the strengths of pharmacists with strong written skills. Fees are usually assessed as a flat rate or according to the word count.
- Providing continuing education/workshops-This will take work upfront to put together a presentation but once it is done, the same materials can be presented to interested parties for a fee.
- Medication Therapy Management/Remote telepharmacy-These is billable that services that pharmacists can perform including making adherence calls, comprehensive medication reviews, and other medication-related services such as remote order entry review. Best of all yet, these jobs can be done remotely.
- Write a book-If you have accumulated enough relevant information in pharmacy or any other area of interest. Publishing a book can give you passive income for years to come.
- Creating a blog/podcast-Pharmacy Joe and Tony Guerra have both started a popular podcast that is listened to by thousands and created opportunities to monetize from their respective audience.
Check out these links below for additional ways to boost your earnings as a pharmacist!
19 Ways to Make Extra Money as a Pharmacist in 2020
27 Ways to Make Extra Money as a Pharmacist in 2021
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