Pharmacist Salary in New Mexico and How to increase your Pay

Pharmacist Salary in New Mexico and How to increase your Pay.
The cities that pay the highest salaries to pharmacist in New Mexico include North Valley, South Valley, and Los Alamos.

The pharmacist’s salary in New Mexico is averagely $122,513 per year.

A pharmacist is responsible for the distribution of drugs and medications to the general public.

Pharmacists in New Mexico typically work in hospital pharmacies, retail pharmacies, and in health care facilities.

Some pharmacists may also specialize in compounding medications or be involved with intravenous medication therapy.

Pharmacists Salary across Cities in New Mexico

Here is pharmacist salary information for cities across New Mexico:

 CityHourly SalaryAnnual Salary
1Albuquerque$55.21$121,703
2Las Cruces$51.10$112,630
3Rio Rancho$51.92$114,444
4Santa Fe$55.91$123,237
5Roswell$52.60$115,954
6Farmington$51.19$112,827
7South Valley$64.19$141,493
8Clovis$50.75$111,863
9Hobbs$52.32$115,317
10Alamogordo$49.44$108,974
11Carlsbad$55.09$121,436
12Gallup$52.32$115,332
13Sunland Park$47.62$104,957
14Los Lunas$49$108,021
15Deming$49.87$109,917
16Chaparral$49.74$109,637
17North Valley$65.27$143,874
18Las Vegas$50$110,224
19Los Alamos$61.27$135,052
20Artesia$54.13$119,326
21Portales$48.60$107,132
22Lovington$51.65$113,848
23Bernalillo$51.42$113,342
24Española$50.33$110,941
25Silver City$51.16$112,777
26Anthony$45.84$101,036
27Grants$51.19$112,828
28Corrales$50.65$111,648
29Shiprock$59.01$130,076
30Socorro$52$114,615
Pharmacists’ salaries across New Mexico cities

10 Highest Paying Cities for Pharmacists in New Mexico

Salary information for the top 10 paying cities for pharmacists in New Mexico:

 CityHourly SalaryAnnual Salary
1North Valley$65.27$143,874
2South Valley$64.19$141,493
3Los Alamos$61.27$135,052
4Shiprock$59.01$130,076
5Santa Fe$55.91$123,237
6Albuquerque$55.21$121,703
7Carlsbad$55.09$121,436
8Artesia$54.13$119,326
9Roswell$52.60$115,954
10Gallup$52.32$115,332
Highest paying cities for pharmacists in New Mexico

Pharmacists Salary Based on Skills in New Mexico

In New Mexico, a pharmacist with good skills and certifications will be paid more than their counterpart without them. Some of these skills include:

  1. Management and administrative skills
  2. Pharmacy records and data
  3. Pharmacies and patient care issues
  4. Quality assurance and quality control
  5. Computers, communications and the Internet

Pharmacists Salary Based on Experience in New Mexico

A pharmacist with less than one year experience will earn about $109,650 while the more experienced one with 10 years of experience or more will take home $135,645 in New Mexico.

10 Highest Paying Companies for Pharmacists in New Mexico

Salary information for the top 10 paying companies for pharmacists in New Mexico:

 CompanyHourly SalaryAnnual Salary
1UCLA Health$75.67$166,792
2Meijer$74.49$164,196
3Raley’s / Bel Air / Nob Hill$71.12$156,774
4Oregon Health & Science University$69.17$152,471
5Costco Wholesale$67.82$149,484
6Riverside Health System$67.09$147,888
7TotalMed$65.48$144,330
8eTeam Inc$64.97$143,213
9Presbyterian Healthcare Services$64.86$142,975
10MedWatchers Inc$64.19$141,502
Companies that pay the highest salaries to pharmacists in New Mexico

10 Highest Paying Pharmacist Jobs in New Mexico

Some of the highest paying pharmacist jobs in New Mexico include:

  1. Clinical Staff Pharmacist $114,236
  2. Primary Care Pharmacist $112,655
  3. Advanced Practice Pharmacist $111,772
  4. Clinical Pharmacist Specialist $111,705
  5. Travel Pharmacist $109,640
  6. Nuclear Pharmacist $136,572
  7. Critical care Pharmacist $116664
  8. CVS Pharmacist $134,742
  9. Research Pharmacist $129100
  10. Retail Pharmacist $141311

More Benefits for Pharmacists in New Mexico

Employers in New Mexico provide pharmacists benefits like bonus, health insurance, 401k plans, and stock options based on their experience, skills and performance:

  • Bonus

You will get a cash bonus each year you keep your employment and your salary. The amount of the bonus will be determined by the employer.

  • Health Insurance

Employers in New Mexico are required to offer health insurance options for all full-time employees.

  • 401k Plans

Many employers in New Mexico offer 401k plans that include retirement savings plans that match up to 3% of your salary contribution up to a limit of $16,500 per annum.

  • Stock Options

Stock options are employee stock purchase loans that have multiple advantages for both the employee and the employer.

Employee benefit greatly because they receive a discount on their stocks while the employer derives a salary advantage since they get part of their salary in stocks or bonds instead of cash.

What Related Job Titles to Pharmacists Earn in New Mexico

Earning of some occupations related to pharmacy include:

  1. Surgeon: $387,090
  2. Nurse practitioner: $126,010
  3. Dentist:  $263832
  4. Patient Care Coordinator: $86,290
  5. Clinical Pharmacologist: $103809

Pharmacists Job and Salary Outlook in New Mexico

According to the Bureau of Labor Statistics, pharmacist employment will decline by 2% between 2020 and 2030.

In terms of pharmacist salary, New Mexico ranks 42nd out of 50 states.

The typical salary for a pharmacist ranges substantially (up to $18,790), implying that there may be several prospects for promotion and improved income dependent on skill level, location, and years of experience.

According to recent job posting activity on employment portals, the New Mexico Pharmacist job market is rather stagnant, since few employers are actively recruiting.

How to increase your Pay as a Pharmacist in New Mexico

To increase your pay as a pharmacist in New Mexico, here are some suggestions you can apply:

  1. Keep up with education and training offered by pharmacists. If you are not satisfied with the current salary, you can consider taking courses for pharmacists.
  2. If you are interested in the compounding field, seek training and certification, which is offered by organizations like the National Association of Boards of Pharmacy (NABP).
  3. Consider going for continuing education courses that will provide additional knowledge to your skills as a pharmacist. You should consider getting some certifications from the Board of Pharmaceutical examiners. These certifications will help you get better job opportunities and higher salary.
  4. Increase your responsibilities as a pharmacist and expand your scope to become an executive pharmacist.
  5. You can also consider running for the position of a pharmacy manager or supervisor in your workplace. Employers are seeking qualified candidates with experience and proven track records in managing a pharmacy department. They prefer candidates who have strong leadership skills and can manage a team of pharmacists.

More Career Opportunities for Pharmacists in New Mexico

There are many career opportunities that a pharmacist can consider to increase his or her salary, they include:

  1. Work for the Government

The government sector offers attractive and higher salary packages that are tax free. You can use this extra income to invest or save for your future.

2. Serve as a Hospital Pharmacist

Nobody wants to stay in a hospital for a long time because of the strict protocol and operations in most hospitals.

But if you specialize in hospital pharmacists, you can work as a pharmacist in a hospital or an outpatient clinic and enjoy good pay.

3. Work as an In-Store Pharmacist

There are many retail outlets like drug stores, supermarkets and department stores that offer decent salaries to pharmacists per hour. They also provide health insurance plans.

4. Join the Pharmaceutical Industry

Working for a pharmaceutical company is better than working in retail environments because of the high salary you can get from this industry.

Some pharmaceutical companies provide attractive packages, which include housing allowances, paid vacations and other benefits.

Conclusion

The reasons why pharmacists earn low pay in New Mexico is due to the fact that there are limited residency programs for pharmacists in the state.

And because of this, there are more candidates looking for jobs instead of the more vacancies existing in the country.

However, if you look for a job and search hard, you can get one with high salary for pharmacist in New Mexico.

Information sources: pharmapproach.com, bls.gov, glassdoor.com, indeed.combeckershospitalreview.com, pharmacytechnicianguide.com, salary.com, and payscale.com.