The impact of increased pharmacy schools on pharmacists' income: is it still an attractive profession?

Pharmacy education in South Korea transitioned from a 4-year to a 6-year program in 2011, alongside an increase in the number of pharmacy schools and students. The change in pharmacy education may have reduced the attractiveness of the profession, particularly in terms of income. This study aimed to assess the impact of the increasing number of pharmacy students on the income levels and distribution among owner pharmacists, staff pharmacists, and hospital pharmacists.

This retrospective observational study used data from the Ministry of Health and Welfare to track pharmacists' annual income from 2010 to 2020. The income was categorized by sector, region, and gender. An interrupted time series analysis was conducted to estimate the effect of the increasing number of pharmacy students on pharmacists' income.

The income levels of pharmacists increased from 2010 to 2020, even after adjusting for inflation. By 2020, the income levels for owner pharmacists, staff pharmacists, hospital pharmacists reached 110 million, 58 million, and 51 million Korean won, respectively. The impact of increased pharmacy schools on the income of pharmacists varied by sector. The expansion led to a substantial increase in the income of owner pharmacists, while the incomes of staff pharmacists and hospital pharmacists showed no significant changes.

Despite the increase in the number of pharmacists, the profession remains attractive in terms of both income level and its distribution, particularly for female pharmacists. However, this increase has had a more favorable impact on the income growth of owner pharmacists compared to staff and hospital pharmacists.