A compound pharmacist is a licensed pharmacist who specializes in mixing individual ingredients to fill personalized prescription medications that are not available through commercial drugs, such as chemotherapy treatments or a pediatric dose that is typically only available in an adult dose. A compound pharmacist salary in the US is about $132,000 annually, similar to the US dollar equivalency in Australia of AU$177,000 ($140,222 USD), NZ$148,474 ($108,430 USD) in New Zealand, and C$128,000 ($103,036 USD) in Canada. Annual earnings in the UK fall in the middle of the pay range for the countries reviewed in this guide at £68,000 ($84,413 USD), followed by R779,000 ($64,398 USD) in South Africa and Rs7,85,000 ($12,241 USD) in India. Information on earning potential for compound pharmacists by geographic region, professional experience, and work setting are explained in this guide.
How Much Does a Compound Pharmacist Make per Year?
The chart below provides average annual and hourly wages for compound pharmacists in select countries worldwide.
|Compoun Pharmacist Salary||US||Canada||UK||Australia||New Zealand||India||South Africa|
Factors that Influence the Compound Pharmacist Salary
While geographic region plays a large role in determining the salary for a compound pharmacist, professional experience and work setting also influence earning potential. This guide provides information on earnings and career insight.
1. Geographic Area
Compound Pharmacist Salary in US
In the US, compound pharmacists earn roughly $132,000 per year, or $63 per hour, with an additional $3,300 possible in bonus incentive pay. On average, those with up to three years of experience earn about $91,000 per year, increasing with experience to close to $169,000 per year for those in senior level positions.
Compound Pharmacist Salary in Canada
Compound pharmacists in Canada see annual pay of about C$128,000 annually plus C$3,000 or more in additional bonus income. Those paid an hourly wage receive about C$62 per hour. Early career compound pharmacists receive about C$88,000 per year, on average, compared to well over C$163,000 per year for their senior level colleagues.
Compound Pharmacist Salary in UK
Compound pharmacists in the UK earn close to £68,000 per year, or £33 per hour, and bonus incentive pay can add another £1,700 to overall earnings. Entry level compound pharmacists can expect an annual salary of about £47,000 during the first three years of employment while senior level professionals earn more than £86,000 annually.
Compound Pharmacist Salary in Australia
In Australia, compound pharmacists see an average annual compensation reaching AU$177,000 in base pay plus another AU$4,400 in bonus income. Hourly wage earners receive an average of AU$85 per hour. Those entering this career can expect to earn about AU$122,000 annually, and with experience, see annual pay exceed AU$226,000 upon reaching the senior level.
Compound Pharmacist Salary in New Zealand
As a compound pharmacist in New Zealand, annual pay is well over NZ$148,000, or NZ$71 per hour. Bonus incentive pay can add another NZ$3,700 to overall earnings. The average entry level salary is more than NZ$102,000 per year, while those with the most experience and responsibility in senior level positions receive an average of NZ$190,000 per year.
Compound Pharmacist Salary in India
The average annual salary for a compound pharmacist in India exceeds Rs7,85,000 with more than Rs19,000 possible in additional bonus income. Hourly wage earners receive Rs377 per hour, on average. Early career compound pharmacists receive annual pay exceeding Rs5,49,000 per year while senior level professionals can see annual earnings that reach Rs10,18,000.
Compound Pharmacist Salary in South Africa
Compound pharmacists in South Africa earn an average annual income of R779,000 in base salary and more than R19,000 in bonus pay. Hourly wage earners receive an average of about R374 per hour. Upon entering this career field, the average annual salary is about R541,000, increasing with experience to roughly R1,003,000 per year upon reaching the senior level.
With additional experience, compound pharmacists can see annual pay increase between 83% and 86%. While salaries in the US are among the highest worldwide for this profession, the difference between senior level pay and entry level is about $78,000 per year, or 86%. The smallest gap between senior level and entry level pay is found in the UK where those with the most experience earn about £39,000 more per year, equating to an increase of about 83%.
Compound pharmacists work in hospitals and specialty pharmacies with many being self-employed. Retail pharmacies typically do not offer compounding services. Compound pharmacists who work in for-profit hospitals and in the private sector may see higher incomes and have more opportunities for bonus incentives compared to those in nonprofit hospitals and the public sector.
Compound pharmacists typically work during normal business hours Monday through Friday; however, some pharmacies are open extended hours in the early mornings, evenings, or weekends. Those who are employed in hospitals may be scheduled during any time of day or day or week due to the 24-hour care provided to hospital patients. Most compound pharmacists work full-time schedules of 40 hours or more, but there are part-time positions available.
Bonuses and Benefit Packages
A typical benefits package for a compound pharmacist employed by a company includes healthcare coverage for medical, dental, and vision services; paid time off for vacations, holidays, and sick time, and other perks like retirement savings accounts. Many compound pharmacists are self-employed and must cover these expenses on their own. Those who work part-time may be ineligible for all benefits and bonuses or they may receive a smaller package.
The United States Bureau of Labor Statistics estimates an average growth rate of 6% for pharmacists, including compound pharmacists, between 2016 and 2026. This is an average growth rate in line with many other occupations and is expected with a globally aging population, advancements in treatment and medicine, and improved access to healthcare. A bachelor’s degree followed by a Doctor of Pharmacy degree is required for a career as a compound pharmacist. Licensing and registration is typically required for this career field.
Compound pharmacists earn solid incomes with many regions seeing salaries well into the six-figure range, providing a good return on educational investment. Benefits and bonus pay are common for those employed by others, but a large number of compound pharmacists are self-employed and must cover these expenses on their own. Future demand for compound pharmacists is expected to remain in line with other occupations, meaning salaries should remain steady with opportunities for those entering this career field.