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Average Pharmacists Salary in Madison, WI

Pharmacists in Madison, WI, earn an impressive average annual salary of $138,800, slightly surpassing the national average of $136,140. This competitive compensation reflects the specialized skills and critical role pharmacists play within the healthcare ecosystem of Madison, a city known for its robust medical and research institutions.

Executive Summary

  • Average Salary: $138,800 per year.
  • Growth Trend: Salaries have shifted 7.8% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $177,420.
  • Outlook: With a local workforce of 900 pharmacists and a Location Quotient of 1.04, Madison exhibits a healthy and slightly above-average concentration of these professionals. This indicates a stable demand for pharmacists, suggesting a robust job market that aligns with the national average in terms of professional density.
2024 Market Data

Salary Overview

$138,800

The average Pharmacists in Madison, WI earns+2.0%above the national average.

BreakdownBased on 40h/week
Hourly

$66.7

Weekly

$2,669

Monthly

$11,567

Pharmacists Salary Distribution in Madison, WI

The career path for pharmacists in Madison, WI, offers significant earning potential, with salaries scaling considerably from entry-level to senior positions. Experienced pharmacists, particularly those with specialized certifications or in leadership roles, can command salaries well above the average, with percentile gaps clearly signifying opportunities for career progression and increased compensation.

Experience LevelMarket PercentileAnnual WageHourly Rate
Resident / New GradClinical rotation complete. Gaining floor experience.10% (Entry)$103,110$49.6
Staff ClinicianFull patient caseload. Proficient in core procedures.25% (Junior)$104,100$50
Charge / SeniorShift lead. Precepts new hires. Specialized certification.50% (Median)$143,940$69.2
SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases.75% (Senior)$173,500$83.4
Director / LeadDepartment head or Advanced Practice Provider.90% (Expert)$177,420$85.3

Detailed Pharmacists Market Analysis

Relocation Context

Nominal Salary

$138,800

Gross Pay

Real Wage (Purchasing Power)

$138,800

Adjusted for COL (100)

The average pharmacist salary of $138,800 in Madison, WI, is perfectly aligned with the national average cost of living, which stands at an index of 100. This means that the purchasing power of a pharmacist's income in Madison is equivalent to the national average, offering a stable financial foundation for residents.

Job Market Context

900

Total Jobs

2.222

Per 1K Jobs

1.04

Location Quotient

Above Average

With a location quotient of 1.04, Madison, WI has a slightly higher-than-average concentration of Pharmacists roles compared to the national norm.

A Location Quotient of 1.04 for pharmacists in Madison, WI, suggests a job market that is slightly more concentrated than the national average. This indicates a healthy demand and a competitive environment where employers value the presence of skilled pharmacists, potentially leading to more specialized roles and opportunities.

Nearby Job Markets

Nearby Cities for Pharmacists

CitySalaryDist.
Janesville-Beloit, WI Pharmacists Salary$136,000↓ 2%33 mi
Rockford, IL Pharmacists Salary$137,790↓ 1%59 mi
Fond du Lac, WI Pharmacists Salary$133,970↓ 3%68 mi
Milwaukee-Waukesha, WI Pharmacists Salary$146,730↑ 6%72 mi
Oshkosh-Neenah, WI Pharmacists Salary$133,440↓ 4%77 mi

Comparing salaries near Madison, WI

Hiring Pharmacistss?

Frequently Asked Questions

How much does a Pharmacists make in Madison, WI?

The median annual salary for a Pharmacists in Madison, WI is $138,800. This typically ranges from $103,110 for entry-level positions to $177,420 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Madison, WI is 2.0% higher than the national median of $136,140.

Is Madison, WI a lucrative place for Pharmacists?

Yes, Madison, WI offers a lucrative environment for pharmacists.Pharmacists in Madison earn slightly above the national average salary, and the cost of living is on par with the national average, indicating strong purchasing power for their income.

Is Madison, WI a good place to live for Pharmacists?

The Cost of Living Index in Madison, WI is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Madison, WI?

Some top paying nearby cities include Janesville-Beloit, WI ($136,000) and Rockford, IL.

How does Madison's pharmacist salary compare to the national average?

Pharmacists in Madison, WI, earn an average of $138,800 annually, which is slightly higher than the national average of $136,140.

What is the cost of living in Madison, WI for pharmacists?

The cost of living in Madison, WI, is exactly at the national average (index of 100), meaning a pharmacist's salary there has the same purchasing power as it would nationally.

Is there high demand for pharmacists in Madison, WI?

With a Location Quotient of 1.04, Madison has a slightly higher concentration of pharmacists than the national average, suggesting a stable and potentially growing demand for these professionals.

How many pharmacists are employed in Madison, WI?

There are approximately 900 pharmacists employed in Madison, WI, contributing to a local workforce density of 2.222 jobs per 1,000 workers.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 900 employees in the Madison, WI area with a job density of 2.222 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Pharmacists • Data source: BLS OEWS 2024 •Jobs in Madison, WI