How Much Does An Informatics Pharmacist Make?
There is no doubt that, as health-care professionals, any pharmacy-related job plays an integral part in our society. Therefore, the salary of this industry should match its importance.
But how much does an informatics pharmacist make? And which cities offer the highest salary on average for informatics pharmacists?
The salary of informatics pharmacists in the United States of America currently ranges from a base salary of about $103,085 to about $154,627. This means that the median salary of pharmacy informatics employees lies at $128,856.
Are you currently looking to become an informatics pharmacist and interested in the labor statistics of this job title? Then you have come to the right place.
We will cover all of this and more in this comprehensive article about the pharmacy informatics salary.
Salary Ranges for Pharmacist Informatics
How much you will earn as an informatics pharmacist will depend on your workplace. While your main job of dealing with a patient’s electronic health record will not change much, your salary range might.
As an informatics pharmacist, you can either work behind the counter in a drug store or as a clinical informatics pharmacist. This job is either performed in hospitals, clinics, or even nursing homes.
The Bureau of Labor Statistics has recently released the following labor statistics regarding informatics pharmacists:
- 52% work in pharmacies and drug stores
- 13% work in medical and surgical hospitals or nursing homes
- 35% work in department or grocery stores or other general merchandise shops
As a clinical informatics pharmacist, you might have more work related to the preparation of a broader variety of medications. Therefore you might have more responsibilities in terms of medication safety. This can ultimately increase your salary.
Your experience level also plays a significant role in your salary range. Normally, newly employed informatics pharmacists will not earn as much as experienced ones.
Working in a hospital or clinic also means that you will have more colleagues and people to deal with. This means higher communication skills are required than for similar jobs at a pharmacy. With higher skills, you can also expect your payment to increase.
Keeping this in mind, the salary of informatics pharmacists in the United States of America currently ranges from a base salary of about $103,085 to about $154,627. This means that the median salary of pharmacy informatics employees lies at $128,856.
What are the Top 10 Highest Paying Cities for Informatics Pharmacist Jobs?
The best states to live in as an informatics pharmacist are Tennessee, Hawaii, and New Jersey (all playing around 2.6% and 3.5% above the national average salary). And the top 10 highest-paying cities in the United States of America are as below:
- Atkinson, NE, with an annual salary of $154,837. This is $34,628 (i.e. 28.8%) above the national average salary of $120,209.
- Frankston, TX with an annual salary of $147,682.
- Inverness, CA with an annual salary of $144,140. This is $23,931 (i.e. 19.9%) above the national average salary.
- Barnstable Town, MA with an annual salary of $143,130.
- Dimondale, MI with an annual salary of $138,099.
- Manhattan, NY with an annual salary of $137,655.
- Hooper Bay, AK with an annual salary of $136,977.
- Potomac Heights, MD with an annual salary of $133,833.
- Cambridge, MA with an annual salary of $133,418.
- Bridgehampton, NY with an annual salary of $132,920.
As these cities have a significantly higher salary than the average salary in the US for this job, it seems that moving location could be a good financial prospect.
One important thing to consider for this is that the average salary in these cities varies relatively little. When looking at Atkinson, NE, on number one, and Bridgehampton, NY on number 10.
These two are only apart by a meager 15%. Therefore, the consideration of where to move for better salaries should depend more on the cost of living and quality of life.
Quality of life for an informatics pharmacist
Speaking of quality of life, it is worthwhile looking into the potential expenditures that you might face when working as an informatics pharmacist.
The average informatics pharmacist will be able to have a take-home pay of about $8,637 per month. The current median 2BR apartment rental price lies at $2,506 per month. This means that pharmacist informatics would have to pay about 29% of their monthly take-home salary to be able to pay rent.
This would still leave quite a significant cut to add towards savings or other living expenses, such as food.
That being said, it is important to keep in mind that while informatics pharmacists make more money in a state such as New York, the living expenses are also significantly higher there.
What are the Top 5 Best Paying Related Informatics Pharmacist Jobs?
Working as an informatics pharmacist does not mean that you have to stay an informatics pharmacist forever. Several job opportunities have higher salaries that you can aim for with the right amount of experience. And, apart from your bachelor’s degree, the right level of education. Some of the following jobs potentially require an extra course:
- Physicians informatics
- Clinical staff pharmacist
- Director clinical informatics pharmacist
The above-mentioned jobs are all paid about 5.8% to 12.6% higher salaries than the average salary of an informatics pharmacist. So, if you are qualified and experienced enough, you might be able to make more money in these related positions.
How Much Tax Will You Have To Pay In Pharmacist Informatics?
As an informatics pharmacist, you can expect to pay an estimate of about 24% in average federal tax. This means that after the tax is taken out, the average informatics pharmacist should still be able to take home about $103,641 per year on an average salary. This means each paycheck should be around $4,318.
Whether you are an informatics pharmacist working in a drug store or as a clinical informatics pharmacist, there can be significant differences in how much you are paid, even though you keep the same job title.
When choosing your future employer, make sure you take into consideration how much tax you will be paying on the average salaries you’ll receive, and whether or not you will be able to afford the cost of living in that state.
All in all, working as an informatics pharmacist can be an exciting job prospect.