PharmaPharmacy Technician Salaries: Average Pay, Factors That Affect Wages, and Benefits

Pharmacy technicians play a crucial role in the healthcare industry by assisting pharmacists in dispensing medications, managing inventory, and providing excellent customer service. For those considering a career as a pharmacy technician or currently working in the field, it’s essential to understand the details of pharmacy technician salaries, factors that affect wages, and benefits. The average pay for a pharmacy technician varies depending on several factors such as experience, location, employer, and certifications.

Salaries can range from minimum wage to over $50,000 annually, making it a solid career path for those who enjoy working in the healthcare industry. However, understanding the factors that impact wages is crucial for those looking to Pharmacy technician schools near me or enter the profession or even negotiate a salary increase. In this blog post, we’ll delve into the various factors that affect pharmacy technician salaries, average pay across the United States, and the benefits associated with the job.

1. The average pharmacy technician salary in the US

According to data from the US Bureau of Labor Statistics, the average pharmacy technician salary in the United States was $36,470 per year or $17.53 per hour, as of May 2020. However, these figures can vary based on factors such as location, years of experience, and employer type. Pharmacy technicians working in metropolitan areas tend to earn higher salaries, while those in rural communities typically earn less. Additionally, higher levels of education or certification can lead to higher earnings. On the other hand, part-time pharmacy technicians tend to earn lower salaries, as they work fewer hours.

2. Factors that can affect pharmacy technician pay, such as education and experience

Education is a key factor in determining a pharmacy technician’s salary, as those with more advanced degrees or certifications may be eligible for higher-paying positions. Additionally, experience in the field can also significantly impact a pharmacy technician’s salary, with many employers offering increased pay for those with several years of experience. Other factors that can affect pharmacy technician pay include work setting, such as retail versus hospital pharmacies, and geographic location, with urban areas typically offering higher salaries than rural areas.

3. Benefits that may be provided to pharmacy technicians, such as health insurance and retirement plans

Many pharmacy technicians in the industry may be eligible for health insurance and retirement plans. These benefits can provide financial security and long-term stability for pharmacy technicians, allowing them to focus on their job without undue stress. Health insurance benefits may include medical, dental, and vision coverage, as well as life insurance and disability coverage. Retirement plans may include 401(k) and pension plans, which can help pharmacy technicians save for their retirement years. Employers may also provide additional benefits such as paid time off, continuing education opportunities, and flexible scheduling.

4. The difference in pay between retail and hospital pharmacy technicians

Specifically, there tends to be a significant difference in pay between retail and hospital pharmacy technicians. According to data from the Bureau of Labor Statistics, as of May 2020, the average hourly wage for pharmacy technicians in general was $17.52. However, those working in hospitals tended to earn slightly more, with an average hourly wage of $18.88, compared to retail pharmacy technicians who earned an average hourly wage of $16.99. This difference is likely due to a range of factors, including differences in the types of services provided, the skill level required, and the working conditions.

5. Opportunities for career advancement and higher pay within the pharmacy technician field

Many employers offer on-the-job training, certification programs, and tuition reimbursement for continuing education. By obtaining national certification, pharmacy technicians can distinguish themselves from non-certified candidates and qualify for higher pay and more advanced job responsibilities. Additionally, specializing in areas such as compounding or sterile products can lead to higher pay and increased responsibilities within a pharmacy setting. For those interested in furthering their education and becoming a pharmacist, experience as a pharmacy technician can provide a valuable foundation and make the transition easier.

Conclusion

Pharmacy technicians play a vital role in the healthcare industry, and their demand is expected to increase significantly in the coming years. The average salary of a pharmacy technician varies depending on factors such as location, experience, and job setting. Understanding these factors and how they affect salaries can help job seekers negotiate better salaries and benefits. With a growing need for qualified and well-trained pharmacy technicians, this profession offers job stability, competitive salaries, and benefits, making it an attractive career path for many.