So why does this four year bachelor degree fluctuate so much in remuneration?
Well it depends on the sector and the years experience that one has. In the private sector, international pharmaceutical companies such as Pfizer Inc, are well able to pay even international rates hence an RA (regulatory affairs) pharmacist with at least 5 years experience can earn up to R100 000 monthly salary!
You may need to top up your degree with a post graduate course at some point along the way when you figure out which path you want to follow, but adding a managerial or business degree can give you the edge you require. Pharmacovigilence and quality assurance/ control related course also seem to be in demand.
An intern earning R20 000 may choose to pursue a masters degree in business administration or entrepreneurship with the hope of developing a company in the future and work for themselves. However if regular (retail, hospital) employment in either the public or private sector is the aim, this route may not be necessary. Rather people skills & mamagenent or public health / and drug utilization courses are better suited and more profitable.
PhDs are very challenging and can equally become highly profitable if carefully thought through. It's mainly achieved by those willing to stay in academia or research or again those aiming for self-determining business or international careers. In academia, a senior lecturer or professor with a PhD may earn R45-R55 000 a month depending on The specific institution and experience.
The average pharmacist (64% female and 36% male) however earns about R34 000, and depending on the city or town they live in, this will also vary slightly.
There is much to gain in this wonderful profession, and career satisfaction is inevitable provided you love what you do while making strategic decisions.
Happy pharming!
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