Average Pharmacists Salary in Albuquerque, NM
Pharmacists in Albuquerque, NM, earn an impressive average annual salary of $136,300, slightly surpassing the national average of $136,140. This competitive compensation reflects the specialized skills and responsibilities inherent in the pharmacy profession, tailored to the economic landscape and demand within the Albuquerque metropolitan area.
Executive Summary
- Average Salary: $136,300 per year.
- Growth Trend: Salaries have shifted 7.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $172,630.
- Outlook: With a local workforce of 1,010 pharmacists and a Location Quotient of 1.18, Albuquerque demonstrates a healthy concentration of these professionals, indicating a robust and stable job market. The rate of 2.526 jobs per 1,000 workers suggests consistent demand, positioning Albuquerque as a favorable location for pharmacy careers.
Salary Overview
The average Pharmacists in Albuquerque, NM earns+0.1%above the national average.
$65.5
$2,621
$11,358
Pharmacists Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the salary for pharmacists in Albuquerque has experienced steady growth over the past four years, mirroring national trends. Factors such as increasing healthcare needs, evolving pharmaceutical practices, and inflation likely contribute to a positive salary trajectory for this vital profession.
Pharmacists Salary Distribution in Albuquerque, NM
The career progression for pharmacists in Albuquerque typically involves a significant salary increase from entry-level to senior positions. While exact figures vary, the gap between lower and higher percentile earnings signifies substantial opportunities for advancement and increased earning potential as experience and specialization grow.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Resident / New GradClinical rotation complete. Gaining floor experience. | 10% (Entry) | $93,350 | $44.9 |
| Staff ClinicianFull patient caseload. Proficient in core procedures. | 25% (Junior) | $102,225 | $49.1 |
| Charge / SeniorShift lead. Precepts new hires. Specialized certification. | 50% (Median) | $137,530 | $66.1 |
| SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases. | 75% (Senior) | $170,375 | $81.9 |
| Director / LeadDepartment head or Advanced Practice Provider. | 90% (Expert) | $172,630 | $83 |
Detailed Pharmacists Market Analysis
Relocation Context
Nominal Salary
$136,300
Gross Pay
Real Wage (Purchasing Power)
$136,300
Adjusted for COL (100)
The average annual salary of $136,300 in Albuquerque aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of a pharmacist's salary in Albuquerque is equivalent to the national average, offering a stable financial environment without significant cost-of-living pressures.
Job Market Context
1,010
Total Jobs
2.526
Per 1K Jobs
1.18
Location Quotient
With a location quotient of 1.18, Albuquerque, NM has a slightly higher-than-average concentration of Pharmacists roles compared to the national norm.
Albuquerque's Location Quotient of 1.18 indicates that the concentration of pharmacists is 18% higher than the national average. This suggests a slightly more competitive market but also signifies a strong presence and demand for pharmacy services within the region, offering ample opportunities for skilled professionals.
Nearby Job Markets
Nearby Cities for Pharmacists
| City | Salary | Dist. |
|---|---|---|
| Eastern New Mexico nonmetropolitan area Pharmacists Salary | $132,000↓ 3% | 29 mi |
| Northern New Mexico nonmetropolitan area Pharmacists Salary | $138,160↑ 1% | 29 mi |
| Santa Fe, NM Pharmacists Salary | $135,990↓ 0% | 54 mi |
Comparing salaries near Albuquerque, NM
Hiring Pharmacistss?
Frequently Asked Questions
How much does a Pharmacists make in Albuquerque, NM?
The median annual salary for a Pharmacists in Albuquerque, NM is $136,300. This typically ranges from $93,350 for entry-level positions to $172,630 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Albuquerque, NM is 0.1% higher than the national median of $136,140.
Is Albuquerque, NM a lucrative place for Pharmacists?
Yes, Albuquerque offers a lucrative environment for Pharmacists.Pharmacists in Albuquerque earn an average salary that matches the national average, while the cost of living is also at the national average, ensuring strong purchasing power.
Is Albuquerque, NM a good place to live for Pharmacists?
The Cost of Living Index in Albuquerque, NM is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Albuquerque, NM?
Some top paying nearby cities include Eastern New Mexico nonmetropolitan area ($132,000) and Northern New Mexico nonmetropolitan area.
What is the average salary for a Pharmacist in Albuquerque, NM?
The average annual salary for a Pharmacist in Albuquerque, NM is $136,300.
How does Albuquerque's pharmacist salary compare to the national average?
Albuquerque's average pharmacist salary of $136,300 is slightly higher than the national average of $136,140.
What is the Cost of Living Index in Albuquerque, NM?
The Cost of Living Index in Albuquerque, NM is 100, which is exactly the national average.
How concentrated is the pharmacist job market in Albuquerque?
Albuquerque has a higher concentration of pharmacists than the national average, with a Location Quotient of 1.18, indicating a robust job market.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,010 employees in the Albuquerque, NM area with a job density of 2.526 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Pharmacists Salaries by State
Top Jobs in Albuquerque, NM
- All Occupations Salary in Albuquerque, NM
- Office and Administrative Support Occupations Salary in Albuquerque, NM
- Food Preparation and Serving Related Occupations Salary in Albuquerque, NM
- Sales and Related Occupations Salary in Albuquerque, NM
- Transportation and Material Moving Occupations Salary in Albuquerque, NM
- Healthcare Practitioners and Technical Occupations Salary in Albuquerque, NM
- Healthcare Support Occupations Salary in Albuquerque, NM
- Business and Financial Operations Occupations Salary in Albuquerque, NM
- Management Occupations Salary in Albuquerque, NM
- Construction and Extraction Occupations Salary in Albuquerque, NM
- Browse All Jobs in Albuquerque, NM →
Semantic Salary Analysis for Pharmacists • Data source: BLS OEWS 2024 •Jobs in Albuquerque, NM