{"id":5018,"date":"2024-11-02T20:31:30","date_gmt":"2024-12-10T03:49:38","guid":{"rendered":"https:\/\/healthmedicinet.com\/review\/?p=5018"},"modified":"2024-12-10T03:49:38","modified_gmt":"2024-12-10T03:49:38","slug":"hmn-is-a-pharmacy-residency-worth-it-pros-and-cons-in-2025","status":"publish","type":"post","link":"https:\/\/healthmedicinet.com\/review\/hmn-is-a-pharmacy-residency-worth-it-pros-and-cons-in-2025\/","title":{"rendered":"HMN: Is a pharmacy residency worth it? Pros and cons in 2025"},"content":{"rendered":"<p>\n<br \/>Do you know:  Is a pharmacy residency worth it? Pros and cons in 2025<\/p>\n<div id=\"main-content\">\n<div id=\"post-intro\">\n<div id=\"takeaways\">\n<h2>Key takeaways<\/h2>\n<ul>\n<li>\n<p>A pharmacy residency offers intensive learning and the opportunity to become better qualified for specialized positions, making it beneficial for those aiming to work in clinical settings.<\/p>\n<\/li>\n<li>\n<p>The competition for residency positions is fierce, with significantly more pharmacy graduates than available residency spots, highlighting the need for applicants to consider alternative paths.<\/p>\n<\/li>\n<li>\n<p>Undertaking a pharmacy residency involves financial and personal sacrifices, including a potential pay cut and a heavy workload, which can impact one\u2019s lifestyle and personal time.<\/p>\n<\/li>\n<li>\n<p>The decision to pursue a pharmacy residency depends on individual career goals, with alternatives such as PRN jobs or further education like an MBA or fellowship programs in clinical research being viable options for those seeking different career paths.<\/p>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<section class=\"table-of-contents\">\n<div class=\"anchorLinks\">\n<div class=\"mobile-only\">\n<div class=\"dropdownLists\">\n<div class=\"dropdownBtn\"><span class=\"listsIcon\"><br \/>\n\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.singlecare.com\/blog\/wp-content\/themes\/singlecare\/images\/union.svg\" width=\"14\" height=\"20\"\/><\/span><br \/>\n\t\t\t\t\t\t\t<label><\/label><br \/>\n\t\t\t\t\t\t\t<span class=\"downArrow\"><br \/>\n\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.singlecare.com\/blog\/wp-content\/themes\/singlecare\/images\/dropDownArrow.svg\" width=\"24\" height=\"24\"\/><br \/>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><span style=\"font-weight: 400;\">Whether you\u2019re halfway through pharmacy school or you\u2019re just starting to think about becoming a pharmacist, there\u2019s no question that the thought of doing a pharmacy residency will come up. Of course, your heart might be set on working in retail pharmacy. But if there\u2019s any inkling that you\u2019ll want to work in a hospital, managed care, or another clinical setting, then you may want to consider applying for a resident position.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Applying for and completing a pharmacy residency is not a walk in the park. It\u2019s a big commitment, and you\u2019ll be competing with other students who may be vying for a spot in the same program. Many students who want to join a specific residency program are left searching for other options if they don\u2019t get matched. That\u2019s because there are fewer residency positions than pharmacist candidates; in 2020, there were almost <\/span><a href=\"https:\/\/www.aacp.org\/article\/academic-pharmacys-vital-statistics\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">15,000<\/span><\/a><span style=\"font-weight: 400;\"> pharmacy school graduates and only around <\/span><a href=\"https:\/\/www.ashp.org\/News\/2020\/03\/13\/ASHP-2020-Residency-Match-Phase-I-Signals-Steady-Growth-in-Positions\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">5,000<\/span><\/a><span style=\"font-weight: 400;\"> residency positions.\u00a0\u00a0<\/span><\/p>\n<h2 id=\"3-pros-of-a-pharmacy-residency\"><span style=\"font-weight: 400;\">3 pros of a pharmacy residency\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Why do a pharmacy residency? There are several pros to completing a pharmacy residency. Many of the pros have to do with what a residency can do for your career.\u00a0<\/span><\/p>\n<h3 id=\"1-youll-learn-a-lot\"><span style=\"font-weight: 400;\">1. You\u2019ll learn a lot<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">During a pharmacy residency, you\u2019ll train and learn to work as a pharmacist with guidance from different preceptors. As a postgraduate year one (PGY-1) hospital resident, you\u2019ll learn how to work in different areas, such as cardiology, oncology, and critical care.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although you may have been exposed to these settings during <\/span><span style=\"font-weight: 400;\">pharmacy school<\/span><span style=\"font-weight: 400;\">, the learning environment in a pharmacy residency is different since you\u2019ll have more freedom as a licensed pharmacist. You\u2019ll be able to verify prescription orders, check for drug interactions, and make dosage recommendations. If you\u2019re someone who is hungry to expand your skills and knowledge in pharmacy, a residency could be something to look forward to.\u00a0<\/span><\/p>\n<h3 id=\"2-youll-be-better-qualified\"><span style=\"font-weight: 400;\">2. You\u2019ll be better qualified\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">After completing a pharmacy residency, you\u2019ll be qualified to apply for positions that prefer or require one. As more and more <\/span><span style=\"font-weight: 400;\">hospitals and healthcare organizations<\/span><span style=\"font-weight: 400;\"> require a residency, it\u2019s becoming more advantageous to complete a PGY-1 and even a postgraduate year two (PGY-2).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The organization where you complete your residency is likely to hire from its own pool of residents, and having a year or two of residency under your belt will show hiring executives that you have the appropriate training for the job. In addition, after completing a PGY-2 residency, you may be qualified to sit for a board specialty exam and become certified in a specific pharmacy area.\u00a0<\/span><\/p>\n<h3 id=\"3-youll-make-connections\"><span style=\"font-weight: 400;\">3. You\u2019ll make connections\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">As a resident, you\u2019ll be working with pharmacists who may be working on a similar career path to the one you aspire for. This gives you a chance to make connections with other pharmacists and learn from their experiences, skills, and lessons. Working well with these pharmacists might also mean the difference between getting hired at the same organization and having to apply elsewhere after completing a residency.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you had your sights set on working at a different organization after residency, it\u2019d be beneficial to have good references to count on if needed. You\u2019ll be able to practice <\/span><span style=\"font-weight: 400;\">interacting with physicians<\/span><span style=\"font-weight: 400;\">, healthcare providers, and other pharmacists as part of the healthcare team.\u00a0<\/span><\/p>\n<h2 id=\"3-cons-of-a-pharmacy-residency\"><span style=\"font-weight: 400;\">3 cons of a pharmacy residency\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In addition to the pros of a pharmacy residency, there are some disadvantages that could sway you to look at other options. The cons of a pharmacy residency include the time investment and the opportunity costs.\u00a0<\/span><\/p>\n<h3 id=\"1-youll-take-a-pay-cut\"><span style=\"font-weight: 400;\">1. You\u2019ll take a pay cut<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">One of the biggest reasons people forgo a year or two of residency is the pay cut. Many people who are thinking about going to pharmacy school don\u2019t expect to earn less than a pharmacist after graduating. But the reality is that, if you\u2019re wanting a certain job, you\u2019ll have to make a pretty big financial sacrifice while pursuing a residency.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Even after completing a residency, <\/span><span style=\"font-weight: 400;\">the increased pay<\/span><span style=\"font-weight: 400;\"> might not be as substantial as you expect. When it comes down to the raw numbers, doing a pharmacy residency is not a financially sound decision, especially with the mountains of debt that a pharmacy student takes on throughout school.\u00a0<\/span><\/p>\n<h3 id=\"2-its-a-heavy-workload\"><span style=\"font-weight: 400;\">2. It\u2019s a heavy workload<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">As mentioned, the schedule of a resident pharmacist can be quite heavy. With balancing the duties of a pharmacist and completing various projects, plus maintaining a personal life, you\u2019ll have a lot on your plate as a resident. You could be working around <\/span><span style=\"font-weight: 400;\">50 to 60 hours per week<\/span><span style=\"font-weight: 400;\"> or more. Add in the time it might take to commute to work and you could be looking at very little free time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s important not to have any great expectations for doing much else besides focusing on your residency work, as programs will want to see that you\u2019re committed. You\u2019ll have to be very disciplined about your time management skills, especially if you want to manage your relationships, hobbies, and other activities outside of work. But your friends and family should be supportive either way if it means you\u2019re pursuing something you really want.\u00a0<\/span><\/p>\n<h3 id=\"3-you-may-need-to-do-more-than-one-year\"><span style=\"font-weight: 400;\">3. You may need to do more than one year\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While a PGY-1 can be sufficient for many clinical roles, a PGY-2 is typically required for specialized positions. These specialized areas include infectious diseases, oncology, psychiatry, cardiology, pediatrics, and <\/span><span style=\"font-weight: 400;\">pharmacy management<\/span><span style=\"font-weight: 400;\">. After graduating pharmacy school, you\u2019ll be looking at a year of general clinical work followed by another year of focus in a specialty area until you start working as a full-fledged pharmacist.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some of the best accredited PGY-2 programs are only offered by certain institutions, which could require you to relocate to a different city or state. You\u2019ll want to keep this in mind, especially if you have family or other responsibilities.\u00a0<\/span><\/p>\n<h2 id=\"is-a-pharmacy-residency-worth-it\"><span style=\"font-weight: 400;\">Is a pharmacy residency worth it?\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The obvious answer is, it depends. When thinking about any important life or career decision, it\u2019s a good idea to analyze the pros and cons. Ask yourself what you envision yourself doing, whether you\u2019d enjoy it, and whether you\u2019ll be capable of doing it. After all, you\u2019ll be making some sacrifices to achieve your ultimate goals.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Keep in mind, although people in the pharmacy world tend to emphasize the importance of a residency, it\u2019s not the only way to go about getting a clinical job. Getting a PRN job at a local hospital may still be a viable way of getting a foot in the door. You could then work your way into a full-time position if the opportunity presents itself. However, you may have to put a little more work into showing your value without a residency.\u00a0<\/span><\/p>\n<h3 id=\"do-your-due-diligence\"><span style=\"font-weight: 400;\">Do your due diligence<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If you feel like a residency is right for you and your goals, then commit to finding the right one and <\/span><a href=\"https:\/\/www.accp.com\/resandfel\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">researching the available programs<\/span><\/a><span style=\"font-weight: 400;\">. However, you should never feel pressured or obligated to pursue a residency, as there are different reasons why a pharmacy residency might not be for you. For instance, you might consider applying for a Master of Business Administration (MBA) if you\u2019re interested in the business aspect of pharmacy. Another path that prospective pharmacy residents may overlook is that of a pharmacist who works in clinical research or the pharmaceutical industry. In this case, <\/span><a href=\"https:\/\/www.amcp.org\/resource-center\/group-resources\/residents-fellows\/tips-on-applying-residency-fellowship\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">a fellowship program<\/span><\/a><span style=\"font-weight: 400;\"> would be more suitable than a residency.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019ve thought about doing a residency and you\u2019re still stuck deciding, ask for the opinion of pharmacists who are where you want to be. They can describe how their own experience led them to their current job. A mentor can also help guide you and provide tips on how to be a strong applicant. After balancing the pros and cons, you\u2019ll have a better idea of whether a pharmacy residency is right for you.\u00a0<\/span><\/p>\n<p><svg style=\"display:none\">\n  <g id=\"facebook\">\n    <rect width=\"32\" height=\"32\" rx=\"4\" fill=\"var(--social-bg)\"\/>\n    <path fill=\"var(--social-ico)\" d=\"M19.51 9.32003H21.39V6.14003C20.4798 6.04538 19.5652 5.99865 18.65 6.00003C15.93 6.00003 14.07 7.66003 14.07 10.7V13.32H11V16.88H14.07V26H17.75V16.88H20.81L21.27 13.32H17.75V11.05C17.75 10 18.03 9.32003 19.51 9.32003Z\"\/>\n  <\/g>\n  <g id=\"twitter\">\n    <rect width=\"32\" height=\"32\" rx=\"4\" fill=\"var(--social-bg)\"\/>\n    <path fill=\"var(--social-ico)\" d=\"M26 9.9506C25.2483 10.2767 24.4534 10.4923 23.64 10.5906C24.4982 10.0779 25.1413 9.27138 25.45 8.3206C24.6436 8.80066 23.7608 9.1389 22.84 9.3206C22.2245 8.65317 21.405 8.2089 20.5098 8.05745C19.6147 7.90601 18.6945 8.05596 17.8938 8.48379C17.093 8.91162 16.4569 9.59313 16.0852 10.4214C15.7135 11.2497 15.6273 12.178 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                       <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Do you know: Is a pharmacy residency worth it? Pros and cons in 2025 Key takeaways A pharmacy residency offers intensive learning and the opportunity to become better qualified for specialized positions, making it beneficial for those aiming to work in clinical settings. The competition for residency positions is fierce, with significantly more pharmacy graduates [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5018","post","type-post","status-publish","format-standard","hentry","category-health-news"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/healthmedicinet.com\/review\/wp-json\/wp\/v2\/posts\/5018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/healthmedicinet.com\/review\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/healthmedicinet.com\/review\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/healthmedicinet.com\/review\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/healthmedicinet.com\/review\/wp-json\/wp\/v2\/comments?post=5018"}],"version-history":[{"count":1,"href":"https:\/\/healthmedicinet.com\/review\/wp-json\/wp\/v2\/posts\/5018\/revisions"}],"predecessor-version":[{"id":5887,"href":"https:\/\/healthmedicinet.com\/review\/wp-json\/wp\/v2\/posts\/5018\/revisions\/5887"}],"wp:attachment":[{"href":"https:\/\/healthmedicinet.com\/review\/wp-json\/wp\/v2\/media?parent=5018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/healthmedicinet.com\/review\/wp-json\/wp\/v2\/categories?post=5018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/healthmedicinet.com\/review\/wp-json\/wp\/v2\/tags?post=5018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}