The Cost-Benefits of Becoming a Pharmacist

Abstract

　 This study determined the rate of return from becoming a qualified pharmacist based on: (1) comparisons of gender and medical professions; (2) comparisons of the females’ life course; and (3) the national examination pass rate and standard-year graduation rate. The analysis found that the starting salaries for pharmacists had risen very little in the past 16 years, the rate of return for pharmacists was particularly low for both genders and was no higher than for other health care professions, and there was a relative life course advantage. The analysis of the national examination pass rate and the standard year graduation rate found that the rate of return decreased by about 1 percentage point for each additional year of schooling for those who entered private universities. It was concluded that the decline in the rate of return was more pronounced in universities that had lower degrees of difficulty, and that the extension and quantitative expansion of the study duration from the educational reforms were the factors behind this decline.