<p>Pay for pharmacy professionals is increasing at a strong pace, according to the <i>2006 Pharmacy Compensation Survey - Spring Edition</i> from Mercer Human Resource Consulting.</p>
<p>Nationally, the position of staff pharmacist receives median total cash compensation (which includes base salary and annual bonus) of $98,300 compared to $93,300 in 2005, an increase of 5.4%. Other jobs in the 2006 survey showing similar year-over-year increases include pharmacy team manager, pharmacy technician, and pharmacy graduate, all with increases greater than 4.2%. (See Table 1 for a year-over-year pay comparison of select pharmacy positions.)</p>
<p>"The demand for pharmacists is skyrocketing due to the aging population, expansion of retail pharmacies and the development of new medications," says Eric Michael, Pharm.D., a senior consultant with Mercer´s Managed Pharmacy Benefit business. "As the need for pharmacists outpaces supply, pharmacy operators are compensating competitively to fill open positions."</p>
<p>"As salaries continue to rise and the pharmacist´s job transforms to one of increased responsibility and accountability in an environment emphasizing productivity over service delivery, employers will likely see higher costs," adds Dr. Michael. "And the service their employees receive may be at risk as pharmacists spend less time managing drug use and more time dispensing drugs."</p>
<p>Mercer´s survey indicates that pay levels vary considerably by geography. Compared to the national median for total cash compensation, pay for a staff pharmacist is lower in cities like New Orleans, La. ($93,700), Kansas City, Mo. ($93,300), Omaha, Neb. ($86,600) and Pittsburgh, Pa. ($84,000). However, pay for this position is much higher in many cities in California, including San Jose ($109,100) and San Francisco ($107,700). (See Table 2 for additional pay information by metropolitan area.)</p>
<p>The survey, conducted semi-annually, contains detailed information on pay levels and pay practices for pharmacy personnel reported in more than 380 metropolitan areas across the US. Survey participants include major retail pharmacy operators (drug store and supermarket chains) as well as mail-order/online pharmacy firms and hospitals/health care systems. The survey reflects data submitted by 180 organizations covering more than 209,500 pharmacy employees in 16 different jobs.</p>
<p>The survey has the support of some of the nation´s largest pharmacy operators-Brooks/Eckerd, CVS, Giant Food Stores, Kroger, Rite Aid, Stop & Shop Supermarket Company, Tops Markets and Walgreens. The survey also has the endorsement of PharmacyOneSource.com, an exclusive online resource for pharmacy professionals, and <i>PharmacyWeek</i>, a leading industry publication.</p>
<p>The <i>2006 Pharmacy Compensation Survey - Spring Edition</i> is available for purchase from Mercer at imercer.com or by calling 800 333 3070. The cost for companies that did not participate in the survey is $2,250 for single-state pharmacies and $4,500 for multiple-state pharmacies or specialty pharmacy operations (such as mail-order or online pharmacies). This survey is conducted twice a year. The <i>2006 Pharmacy Compensation Survey - Fall Edition</i> will be available in October.</p>
<p> </p>
<p><b>Table 1: Year-over-year pay comparison of select pharmacy positions</b></p>
<p> </p>
<table cellspacing="0" border="1" width="643" cellpadding="0">
<tr>
<td width="157" valign="top">
<p align="center">Job Title</p>
</td>
<td width="162" valign="top">
<p align="center">2006 Median Total Cash Compensation</p>
</td>
<td width="162" valign="top">
<p align="center">2005 Median Total Cash Compensation</p>
</td>
<td width="162" valign="top">
<p align="center">2004 Median Total Cash Compensation</p>
</td>
</tr>
<tr>
<td width="157" valign="top">
<p>Regional Pharmacy Operations Manager</p>
</td>
<td width="162" valign="top">
<p align="center">$122,100</p>
</td>
<td width="162" valign="top">
<p align="center">$118,400</p>
</td>
<td width="162" valign="top">
<p align="center">$112,300</p>
</td>
</tr>
<tr>
<td width="157" valign="top">
<p>Pharmacy Team Manager</p>
</td>
<td width="162" valign="top">
<p align="center">$104,300</p>
</td>
<td width="162" valign="top">
<p align="center">$99,700</p>
</td>
<td width="162" valign="top">
<p align="center">$94,600</p>
</td>
</tr>
<tr>
<td width="157" valign="top">
<p>Staff Pharmacist</p>
</td>
<td width="162" valign="top">
<p align="center">$98,300</p>
</td>
<td width="162" valign="top">
<p align="center">$93,300</p>
</td>
<td width="162" valign="top">
<p align="center">$88,400</p>
</td>
</tr>
<tr>
<td width="157" valign="top">
<p>Clinical Pharmacist</p>
</td>
<td width="162" valign="top">
<p align="center">$93,900</p>
</td>
<td width="162" valign="top">
<p align="center">$90,400</p>
</td>
<td width="162" valign="top">
<p align="center">$85,200</p>
</td>
</tr>
<tr>
<td width="157" valign="top">
<p>Pharmacy Graduate</p>
</td>
<td width="162" valign="top">
<p align="center">$53,600</p>
</td>
<td width="162" valign="top">
<p align="center">$51,500</p>
</td>
<td width="162" valign="top">
<p align="center">$47,800</p>
</td>
</tr>
<tr>
<td width="157" valign="top">
<p>Pharmacy Technician</p>
</td>
<td width="162" valign="top">
<p align="center">$21,800</p>
</td>
<td width="162" valign="top">
<p align="center">$20,800</p>
</td>
<td width="162" valign="top">
<p align="center">$20,500</p>
</td>
</tr>
</table>
<p><i>Source: Mercer Human Resource Consulting:</i> 2004, 2005, 2006 Pharmacy Compensation Survey - Spring Edition</p>
<p> </p>
<p><b>Table 2: Geographic pay variations for staff pharmacists</b></p>
<p> </p>
<table cellspacing="0" border="1" width="643" cellpadding="0">
<tr>
<td width="319" valign="top">
<p align="center">Metropolitan Area</p>
</td>
<td width="324" valign="top">
<p align="center">2006 Median Total Cash Compensation</p>
</td>
</tr>
<tr>
<td width="319" valign="top">
<p><b><i>National</i></b></p>
</td>
<td width="324" valign="top">
<p align="center"><b><i>$98,300</i></b></p>
</td>
</tr>
<tr>
<td width="319" valign="top">
<p>Atlanta, GA</p>
</td>
<td width="324" valign="top">
<p align="center">$97,300</p>
</td>
</tr>
<tr>
<td width="319" valign="top">
<p>Baltimore, MD</p>
</td>
<td width="324" valign="top">
<p align="center">$96,000</p>
</td>
</tr>
<tr>
<td width="319" valign="top">
<p>Columbus, OH</p>
</td>
<td width="324" valign="top">
<p align="center">$94,200</p>
</td>
</tr>
<tr>
<td width="319" valign="top">
<p>Dallas, TX</p>
</td>
<td width="324" valign="top">
<p align="center">$101,000</p>
</td>
</tr>
<tr>
<td width="319" valign="top">
<p>Denver, CO</p>
</td>
<td width="324" valign="top">
<p align="center">$98,800</p>
</td>
</tr>
<tr>
<td width="319" valign="top">
<p>Las Vegas, NV</p>
</td>
<td width="324" valign="top">
<p align="center">$97,100</p>
</td>
</tr>
<tr>
<td width="319" valign="top">
<p>Minneapolis, MN</p>
</td>
<td width="324" valign="top">
<p align="center">$101,900</p>
</td>
</tr>
<tr>
<td width="319" valign="top">
<p>New York, NY</p>
</td>
<td width="324" valign="top">
<p align="center">$100,200</p>
</td>
</tr>
<tr>
<td width="319" valign="top">
<p>Norfolk, VA</p>
</td>
<td width="324" valign="top">
<p align="center">$96,600</p>
</td>
</tr>
<tr>
<td width="319" valign="top">
<p>Orlando, FL</p>
</td>
<td width="324" valign="top">
<p align="center">$98,300</p>
</td>
</tr>
<tr>
<td width="319" valign="top">
<p>Philadelphia, PA</p>
</td>
<td width="324" valign="top">
<p align="center">$98,300</p>
</td>
</tr>
<tr>
<td width="319" valign="top">
<p>San Jose, CA</p>
</td>
<td width="324" valign="top">
<p align="center">$109,100</p>
</td>
</tr>
<tr>
<td width="319" valign="top">
<p>Tacoma, WA</p>
</td>
<td width="324" valign="top">
<p align="center">$95,000</p>
</td>
</tr>
</table>
<p><i>Source: Mercer Human Resource Consulting:</i> 2006 Pharmacy Compensation Survey - Spring Edition</p>
<p> </p>
<hr>
<p><b>Mercer Human Resource Consulting</b> is a global leader for HR and related financial advice and services, with more than 15,000 employees serving clients in more than 190 cities and 40 countries and territories worldwide. The company is a wholly owned subsidiary of Marsh & McLennan Companies, Inc., which lists its stock (ticker symbol: MMC) on the New York, Chicago, Pacific and London stock exchanges. For more information, visit <a href="http://www.mercerHR.com">mercerHR.com</a>.</p>
<p> </p>
