If you’re in search of a medical job that can earn big bucks, the pharmaceutical industry offers plenty of high-paying jobs. From sales to research and development, the pharma industry has a place for everyone. With the right skills and qualifications, you can earn a comfortable living.
Highest Paying Pharmacy Jobs
The pharmaceutical industry produces the medications we use to stay healthy. Understanding the different professions allows you to see which job roles are suited for your unique skillsets. This article will explore the highest paying pharmacy jobs in the market, their salaries, and their job function.
An informatics pharmacist uses technology to enhance patient outcomes and medication administration.
Implementing electronic health records streamlines communication between physicians and pharmacists for medications. Information sharing helps to expedite pharmaceutical services and prevent errors.
They’re responsible for evaluating health information systems and establishing metrics for the systems. Also, they optimize the use of technology in medication administration.
You’ll need a bachelor’s degree in pharmaceutical studies along with information technology. Also, you’ll want to complete a Pharm D program, where you learn skills like dispensing medication. Afterward, you’ll need to complete a residency program specializing in pharmacy informatics.
Informatics pharmacists earn on average $120,165. However, about 45% earn more than that and can earn up to $175,000.
Clinical pharmacologists are mainly responsible for researching and developing medicinal drugs. In particular, they help to identify new drug therapies. Their duty is to design new drug trials, submit applications to the FDA and monitor for potential drug side effects.
They must document how the diseases react to drugs over time. Their clinical trials can result in the development of cures and vaccines for many conditions.
Clinical pharmacologists must at least obtain their MD degree and medical license. However, many have a Ph.D. in clinical pharmacology too.
These professionals get paid handsomely, making $120,756 annually. 21% of clinical pharmacologists earn between $137,500 to $151,499.
Inpatient pharmacists are professionals that dispense medication in a hospital setting. They will monitor the supply, dispense and test the quality of medications that are stocked and used.
These pharmacists are more specialized than retail due to the dire situation of patients in hospitals. Patients often require frequent medicine changes, whether it’s increased, stopped, or replaced. It’s up to the inpatient pharmacist to ensure the right medicine is dispensed.
They work alongside doctors and the pain management team to ensure patients have the appropriate dosages.
You’ll need to abstain from a Doctor of Pharmacy Degree and get your NAPLEX license to become an inpatient pharmacist.
On average, inpatient pharmacists make $130,702 annually, but 12% of them make $156,000.
Medical Science Liaison
If you’re interested in the technical and business side of pharmaceuticals, you might want to consider a career as a medical science liaison. These individuals focus on fostering relationships. For example, they will work with physicians or educational institutions to have their products adopted.
They raise awareness around diseases and carry out educational presentations for pharmaceutical companies. These professionals provide information about their employer’s products.
They ensure physicians use the pharma products properly and act as advisors on clinical trials. Also, they publish trial results in various scholarly journals.
Medical science liaisons need their doctoral degree specializing in a therapeutic area. On average, their salary is $169,541. But it can vary depending on their location, experience, and employer.
Biostatisticians are perfect for people who like to apply theory to pharmaceuticals. Their primary role is to use data summaries and statistics to draw analyses. For example, biostatisticians will conduct various studies and collect public health data. Then they analyze the data to predict how certain biological reactions can develop.
These professions work with medical colleagues to develop new research studies. They’ll utilize mathematical models to identify changes in biological conditions.
Becoming a biostatistician requires a bachelor’s degree in biostatistics, statistics, or mathematics. However, many jobs are looking for a master’s or doctoral degree. One study found that 29% of new hires need a doctorate for this role. You’ll need strong skills in mathematics, analytical or scientific software, and medical knowledge.
The average base salary for biostatisticians is $145,163, while some top companies pay much more.
Pharmaceutical Sales Representative
Enjoying a lucrative career in pharmacy doesn’t always mean becoming a pharmacist. Having a lot of soft skills can come in handy, especially if you want to become a pharmaceutical sales representative.
These reps work for pharma companies and focus on selling their products to clients. They primarily inform, educate and sell physicians on their products. They’re responsible for arranging appointments, delivering samples, and closing the sale.
A pharmaceutical sales representative requires strong interpersonal skills and knowledge of these products. Combining the two helps influence doctors to prescribe them to their patients.
These reps make on average $89,862 annually but have the earning potential to make up to $129,500 annually.
Fortunately, becoming a sales rep is much easier than other technical jobs. While they only require a bachelor’s degree, getting your graduate degree in life sciences or business is beneficial. You can also become certified as a CNPR, which equips you with extensive pharmaceutical knowledge.
Drug manufacturers are in charge of the production and distribution of medicine. They produce medical devices or medicines and transport them to health care facilities. This includes hospitals, pharmacies, medical supply stores, and mail order facilities.
These individuals must be extremely knowledgeable about biology, chemistry, and supply chain management.
Drug manufacturers are more hands-on, and they are required to use various equipment to produce the product. The basic steps for producing drugs are milling, granulation, coating, and tablet pressing.
X-rays are used to ensure that the consistency and quality of drugs are precise.
Many jobs require full certification to operate pharmaceutical production machinery. And they will need their bachelor’s or master’s degrees.
Drug manufacturers earn an average base salary of $82,444.
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Born and raised in the UK, Will went into medicine late (31) after a career in journalism. He’s into football (soccer), learned Spanish after 5 years in Spain, and has had his work published all over the web. Read more.