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For the sake of this thread discuss about financial benefits, career out look, recession proof. These are my two main interests for various reasons at the moment. So please disregard the talk about "do what you love" This thread is based on the objective outlook of both professions. Basically which one do you think is the most stable, will put me financially in a good spot, and why. I don't want to have to worry about finding a different career because no one is hiring or don't make enough to afford basic necessities.
Nursing
1) tuition: 75k-85k total for program
length: 16 months
Degree: BSN
salary:60-85k
Goal: become a nurse practitioner (another probably 30-70k) NP salary: 80k-150k
Pros: short length of schooling, debt seems reasonable for amount I would make, lots of opportunities as far as career goes, in demand. I think career as NP will be very good as well which is my goal. in demand career
cons: hard job, really stressful, hands on with pts
Pharmacy
2)tuition: 240k total for program
length: 4 years
Degree: pharm D
Salary: 100k+ to 150k
Pros: make 6 figure salary straight out of school minimum, hit mid career salary very soon, not as invasive with pts, different kind of stress
cons: lots of loans, saturation issue?, maybe forced into only retail pharm cvs or walgreens? lol
I am a nurse, and a guy, and I'm assuming you're a guy.
First, Nursing is still highly female dominated, so be prepared for the drama.
2nd, do not, I repeat, do not, spend a fortune on your nursing degree. You appear to be looking at those for profit nursing programs, you will not be able to pay off the loans easily. Sure, you'll make a livable wage, but only just enough. Most RNs make between the high $20 / hr to maybe low $40 / hr range ($40 an hour is after you're at a hospital for many years). You'll be in the $50 range if in California.
Nurse Practitioners are starting to get oversaturated and unfortunately the degrees aren't highly regulated like MD's and PAs... a lot of the nurse practitioner programs are fluffy in terms of academic rigor and it seems that a lot of NPs are not very well prepared.
If you have the intelligence and high GPA, I'd recommend to become a pharmacist. If you're a so-so GPA, then become a nurse, but keep in mind, you will not get rich (and if you have a so-so GPA, the NP program may not be for you). Again, if you go for the high cost program, bear in mind your student loans (if you get them) for $85k will be a $1000+ a month payment. I'm paying over $500 a month for $44k in debt. If you're making $28 an hour, you'll be drowning in debt as you'll only be pulling around $4000-$4200 a month before taxes.
Pharmacy
2)tuition: 240k total for program
length: 4 years
Degree: pharm D
Salary: 100k+ to 150k
Pros: make 6 figure salary straight out of school minimum, hit mid career salary very soon, not as invasive with patients, different kind of stress
cons: lots of loans, saturation issue?, maybe forced into only retail pharmacy CVS or Walgreen's? lol
Saturation would be a problem if (1) there are too many pharmacies, and (2) more graduate pharmacy schools are opening to graduate more pharmacists. Saturation can be corrected as pharmacists retire and leave the workforce; the number of pharmacies decrease by mergers, acquisitions, and store closings; and the number of patients or the number of prescriptions a patient needs increases.
Pharmacists are not restricted to working in retail pharmacy. Central fill pharmacies, hospital pharmacies, apothecary pharmacies, and pharmacology are growing specialties.
If I am a pharmacist starting out in retail, I would be in a floating pharmacist or staff pharmacist position, take up additional shifts, and do anything to reduce my expenses.
Nursing. Pharmacy is a struggle. It is really hard to get the Permanente positions and there is a lot of competition. The state licensing is hard as well. Nursing offers way more flexibility and it is much easier to move around.
*my friend’s mom and sister are pharmacists and the last few years have been rough. Her sister has struggled to land entry level jobs where she lives and isn’t licensed in another state so she cannot leave and move easily. She started in retail and hated it, but nothing is happening outside of retail for he. Her mom got forced out of retail pharmacies after a long career with the decline of retail and industry consolidation.
Also don’t believe the hype about those high wages. My friend’s sister could not find many full time opportunities. My friend’s mom never made that much at all.
Being a traveling nurse in high cost areas can pay off handsomely. Housing stipends are very high and you can make a profit if you keep a permanent residence in a low cost area (or none at all) and get roommates while on assignment. My friend managed to save an additional $1000-1500 on assignments in California and NYC since stipends for housing were $2000-3500.
Nursing. When you earn lots of experience after working a number of years in hospitals or long term care centres, and if you are ambitious you can become a Unit Manager. And if you study some business management, you can become a Clinical Team Leader, and then Director of Care or Facility Leader.
pharmacy is starting to teeter a bit. and where in the world would you be paying 240K for school? right now it's probably more in the 120K-150K range. 4 years? is this a year round, for profit? it's a six year program at traditional schools.
lots of pharmacy schools opened in the last 10 years or so, there's a lot of grads. take a look at the pharmacy subreddit for issues related to pharmacy.
those other jobs mentioned are not easy to come by either. many hospitals are working towards requiring a residency, central fill can be pretty boring, pharmacology is not the same as having a degree in pharmacy. PBMs are a tough gig to get due to nice office environment, good hours.
someone above mentioned if they worked retail they would float. when starting out in retail that often is going to be what you have to do, not a choice you make. one company (can't remember which?) is starting folks at 32/week in some areas, no FT jobs are being offered.
also keep in mind companies are essentially lobbying boards of pharmacy/legislatures to change the pharmacist/tech ratios in stores so there's more techs/fewer pharmacists on duty at any given time. they will continue to do this as it reduces their costs. it's happening in all states. so even though folks may retire, fewer are needed to replace them. also....mergers.
anyway, check out pharmacy subreddit. there is a job market thread at the top of the subreddit.
Check out:
allnurses.com for nursing careers and working environment
forums.studentdoctor.net, Pharmacy section, for pharmacy careers and job prospects
The pharmacy Reddit (referred to in a post above) is also good.
Since you list as a Nursing CON "hands on with patients" I'd suggest pharmacy. But you will still have to vaccinate people and also give constant patient teaching and that is hands on. Also, most nurses that last are not in it for the money.
RN has more paths to getting to the same salary as a pharmacist if you only cared about money...
NP aside, CRNAs make the same too for a different kind of job
There may be in theory "more paths" but increasingly at least hospitals want the BSN. For new grads many also want to see a 3.0 or above GPA as well.
Here in NYC nearly nil of the major hospital/healthcare systems hire ADN new grads or even with experience; they want the BSN. Lots of ADN newly licensed nurses are having to go elsewhere (down south, upstate, mid-west, etc... ) to not only gain experience but complete a bridge course so they have a four year degree. With those things under their belts then they try to come back to the area.
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