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A Mandated PharmD PGY-1 Year: Financial Consequences.
Adanna Chimara1, Albert Wertheimer2, Vishwanauth Persaud2
1USC Aldred E, Mann School of Pharmacy and Pharmaceutical Sciences, USA.
Currents in Pharmacy Teaching & Learning
|April 29, 2026
Summary
Completing pharmacy residency programs, including the first year (PGY1) and second year (PGY2), results in significant short-term income loss compared to entering practice directly. This financial impact is crucial for evaluating mandatory residency policies.
Area of Science:
- Pharmacy education
- Health economics
- Pharmacist workforce development
Background:
- Pharmacy education increasingly emphasizes clinical training and postgraduate residency.
- PGY1 (Post-Graduate Year 1) pharmacy residency is optional but faces growing pressure for expansion.
- Understanding the financial implications of residency is vital for policy decisions.
Purpose of the Study:
- To evaluate the financial impact of pharmacy residency training on early-career earnings.
- To compare cumulative income across different career pathways: no residency, PGY1, and PGY1+PGY2.
- To quantify the opportunity cost associated with completing residency.
Main Methods:
- A model-based analysis using national pharmacist salary data.
- Calculated cumulative earnings over five years for three pathways.
- Included average earnings without residency and stipends for PGY1 and PGY2.
Main Results:
- Pharmacists without residency earned the most cumulatively ($634,950) over five years.
- PGY1 resulted in a $66,990 (10.6%) income loss; PGY1+PGY2 resulted in a $128,980 (20.3%) loss.
- The additional PGY2 year represented a further $61,990 reduction in earnings.
Conclusions:
- Pharmacy residency training leads to a significant short-term financial loss compared to direct workforce entry.
- Mandatory PGY1 training would impose this financial burden on all graduates without system capacity.
- Expanding residency positions, preceptors, and funding is necessary for a universal PGY1 requirement to be beneficial.
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