Perks of Being a Pharmacist in 2021

Pharmacy offers a lot of perks, and some of those perks are actually perks. Non-salary incentives are increasingly being used by pharmacies to hire quality staff or retain experienced staff. You can always negotiate benefits that will not raise your salary but boost your bottom line no matter what kind of job you're seeking or how long you've been there, say the LocumCo pharmacist recruitment specialists.

A Suitable Retirement Program

Saving for retirement can be difficult when you have to pay off debts or support a family. 401(k) matching is a benefit that many employers offer, which means that, if you contribute a certain percentage of your pay, your employer will match your contribution. LocumCo pharmacist hiring experts have also noticed that employee contributions are usually matched by employers up to a maximum of five percent of employees' salaries. In helping your retirement savings grow, it's wise for you to make sure you maximize your employer contribution as a pharmacy employee.

Student Loan Repayment Program

Since student loan repayment benefits have been used to attract recent graduates for years, many pharmacies are beginning to join the bandwagon due to the high tuition costs associated with pharmacy schools, according to one of the LocumCo pharmacist hiring professionals. In order to receive full reimbursement benefits, you must agree to remain at your employer for a certain period of time. The LocumCo pharmacist hiring experts further suggest that the majority of plans place limitations on how much they'll reimburse, but any reduction in student loan debt will have a positive impact on your finances.

Freedom to Relocate

It is common practice to reimburse moving expenses and offer relocation bonuses to pharmacists who are hired for a new job across the country or transferred by their current employer in order to block the withdrawal of strong candidates. To take advantage of relocation benefits, negotiate with your employer as soon as a job offer is made or when you discuss a transfer. You should not be afraid to ask your employer whether they will cover the full price of moving, because sometimes they do!

Remote Work Opportunities

It can be hard to convince your employer that working from home will benefit the pharmacy, as pharmacists typically dispense medications and interact directly with patients. There are increasing opportunities for pharmacists to work remotely as telemedicine and mail-order pharmacy continue to expand. In the future, companies will be able to have their employees work from home, and pharmacists will be able to check their email and voicemail before heading to the office.

Vacations

Raising wages and providing bonuses are becoming harder and harder to come by. Employers are finding innovative ways to reward employees. The conditions are ripe for you to negotiate for additional vacation time in lieu of a pay raise or bonus if you have children, hobbies, or a bad case of wanderlust. It is difficult to find the time to take an additional vacation when pharmacy workloads keep increasing.

Professional Development

Ask your employer if they will reimburse you for the costs of attending a pharmacy conference or continuing education course before you empty your own pockets. Employers vary in their reimbursement policies, but you can save up to $1000 on lodging, registration, meals, and transportation when you attend a conference.

Frequent Bonuses

In exchange for a sign-on bonus, pharmacists usually agree to work for a company for a certain period of time in exchange for a lump-sum payment at the start of their careers. The popularity of signing up bonuses has declined, but some health systems or pharmacies still offer them as a way to fill hard-to-fill positions.

Savings Account

In addition to your regular spending on eyeglasses or contact lenses, OTC medicines, and copays, consider how much you spend on eyewear and contact lenses. In some employers, pre-tax income is set aside in a Health Savings Account to cover expenses that are not covered by health insurance, thereby lowering employees' taxable income.

Family Care

You can save some money at tax time when you contribute to a Family Care Account for children or disabled family members. Consider asking your employer if they have a Family Care Account program, or if they are willing to start one to assist with daycare costs if you are caring for children or disabled relatives.

Assistance Programs

A variety of services are available in your local community for employees, including tax advice, marriage counseling, and legal services. A limited number of sessions with professionals in your community are usually available free of charge or at a low cost.

You might be able to save some money by using your employee assistance plan before paying out of pocket for professional services.