Salary of an industrial pharmacist
Pharmaceutical organisations who manufacture drugs may seek the assistance of pharmacists during the manufacturing process to ensure drugs are manufactured properly and efficiently.
An industrial pharmacist participates in the research, development, testing and manufacturing of drugs and often oversees the manufacturing process. In November 2010, PayScale reported average salaries based on 36 individuals working in this occupation.
Employers require a doctor of pharmacy degree (Pharm.D) from an accredited educational program, as well as a state-administered license to practice professionally. Along with education, these professionals must have strong analytical skills and knowledge of pharmaceutical production standards and regulations.
Industrial pharmacists receive a base salary and bonus. The average base salary as of 2010 ranges from £56,809 to £81,216 per year.
Average bonuses range from £3,193 to £16,532 per year.
The total average compensation ranges from £57,199 to £99,006 per year. In addition to salary, 97 per cent of the professionals surveyed on PayScale report receiving health benefits such as medical, dental and vision care.
Industrial pharmacists work mainly in pharmaceutical manufacturing, but they also can be found in industries such as drug discovery, pharmaceutical development and pharmaceutical distribution and wholesale.
The highest wages are reported in the general pharmaceuticals industry, where average salaries range from £53,586 to £78,247 per year, as of 2010. The pharmaceutical development industry pays average salaries ranging from £50,501 to £75,056 per year, and the drug discovery industry pays average salaries ranging from £51,914 to £75,168 per year.
As with most professions, industrial pharmacists increase their salary as they gain professional experience. Of those reporting their wages to PayScale, the largest majority--47 per cent--have under four years of experience and earn average salaries ranging from £38,322 to £65,276 per year, as of 2010. Those with 10 to 19 years of experience earn average salaries ranging from £59,473 to £83,999 per year.