Average Pharmacists Salary in Memphis, TN-MS-AR
Pharmacists in the Memphis, TN-MS-AR metropolitan area earn an average annual salary of $129,250. This figure is slightly below the national average of $136,140, suggesting that while demand is present, local market dynamics and potentially other contributing factors influence compensation. The specific economic landscape of the tri-state region plays a crucial role in shaping these salary benchmarks for healthcare professionals.
Executive Summary
- Average Salary: $129,250 per year.
- Growth Trend: Salaries have shifted 11.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $161,690.
- Outlook: The Memphis area supports a robust local workforce of 1,490 pharmacists, indicating a significant presence in the healthcare sector. With a Location Quotient of 1.12, the concentration of pharmacists in Memphis is slightly higher than the national average, suggesting a healthy demand and a potentially competitive job market for these essential professionals. The presence of nearly 2.4 pharmacists per 1,000 workers further underscores the importance of this role within the region's healthcare infrastructure.
Salary Overview
The average Pharmacists in Memphis, TN-MS-AR earns-5.1%below the national average.
$62.1
$2,486
$10,771
Pharmacists Salary Trends (2020-2024)
While specific historical data for the Memphis region isn't provided, it's reasonable to assume a general upward trend in pharmacist salaries over the past four years, mirroring national patterns. Factors such as increasing healthcare needs, advancements in pharmaceutical services, and inflation likely contribute to a gradual but steady growth in compensation for pharmacists across the country, including in the Memphis metropolitan area.
Pharmacists Salary Distribution in Memphis, TN-MS-AR
The career trajectory for pharmacists in Memphis, as elsewhere, typically shows a significant salary increase with experience. Entry-level positions may start at a lower percentile, but as pharmacists gain specialized skills, supervisory experience, and potentially move into management or clinical specialist roles, their earning potential escalates considerably. The widening gap between entry-level and senior-level salaries, often seen across different pay percentiles, signifies clear opportunities for career progression and increased remuneration.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Resident / New GradClinical rotation complete. Gaining floor experience. | 10% (Entry) | $61,620 | $29.6 |
| Staff ClinicianFull patient caseload. Proficient in core procedures. | 25% (Junior) | $96,938 | $46.6 |
| Charge / SeniorShift lead. Precepts new hires. Specialized certification. | 50% (Median) | $134,230 | $64.5 |
| SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases. | 75% (Senior) | $161,563 | $77.7 |
| Director / LeadDepartment head or Advanced Practice Provider. | 90% (Expert) | $161,690 | $77.7 |
Detailed Pharmacists Market Analysis
Relocation Context
Nominal Salary
$129,250
Gross Pay
Real Wage (Purchasing Power)
$129,250
Adjusted for COL (100)
The average annual salary of $129,250 for pharmacists in Memphis aligns perfectly with the national average cost of living, which is indexed at 100. This means that the purchasing power of a pharmacist's salary in Memphis is comparable to that of a pharmacist in a typical U.S. city. Consequently, relocating to Memphis for a pharmacist position offers no immediate cost-of-living advantage or disadvantage in terms of real income.
Job Market Context
1,490
Total Jobs
2.395
Per 1K Jobs
1.12
Location Quotient
With a location quotient of 1.12, Memphis, TN-MS-AR has a slightly higher-than-average concentration of Pharmacists roles compared to the national norm.
A Location Quotient of 1.12 indicates that pharmacists are slightly more concentrated in the Memphis, TN-MS-AR area than the national average. This suggests a slightly higher demand relative to the general workforce, making the market potentially competitive but also indicating a stable presence of these professionals. While not exceptionally high, this concentration points to a healthy and established job market for pharmacists within the region.
Nearby Job Markets
Nearby Cities for Pharmacists
| City | Salary | Dist. |
|---|---|---|
| Jonesboro, AR Pharmacists Salary | $134,330↑ 4% | 64 mi |
| Jackson, TN Pharmacists Salary | $125,150↓ 3% | 74 mi |
Comparing salaries near Memphis, TN-MS-AR
Hiring Pharmacistss?
Frequently Asked Questions
How much does a Pharmacists make in Memphis, TN-MS-AR?
The median annual salary for a Pharmacists in Memphis, TN-MS-AR is $129,250. This typically ranges from $61,620 for entry-level positions to $161,690 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Memphis, TN-MS-AR is 5.1% lower than the national median of $136,140.
Is Memphis, TN-MS-AR a lucrative place for Pharmacists?
Yes, with caveats.Pharmacists in Memphis earn an average of $129,250, which is competitive given the national average cost of living. The slightly above-average concentration of pharmacists suggests a stable job market.
Is Memphis, TN-MS-AR a good place to live for Pharmacists?
The Cost of Living Index in Memphis, TN-MS-AR is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Memphis, TN-MS-AR?
Some top paying nearby cities include Jonesboro, AR ($134,330) and Jackson, TN.
How does the Memphis pharmacist salary compare to the national average?
The average annual salary for pharmacists in Memphis is $129,250, which is slightly lower than the national average of $136,140.
What is the cost of living in Memphis, TN-MS-AR?
The cost of living in Memphis is at the national average, with an index of 100.
How many pharmacists are there in the Memphis area?
There are approximately 1,490 pharmacists working in the Memphis, TN-MS-AR metropolitan area.
Is the concentration of pharmacists high in Memphis?
Yes, the Location Quotient of 1.12 indicates a slightly higher concentration of pharmacists in Memphis compared to the national average.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,490 employees in the Memphis, TN-MS-AR area with a job density of 2.395 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Pharmacists • Data source: BLS OEWS 2024 •Jobs in Memphis, TN-MS-AR