Master of Science in Pharmacy Administration degree programs are specifically designed for aspiring pharmacists and are paired with a 1- or 2-year residency. Entrance into a master's program in pharmacy administration offered jointly with a residency usually requires a Pharm.D. On the other hand, programs that award only a master's degree in pharmacy administration typically require prior completion of a bachelor's program in chemistry, biology or allied health sciences with a cumulative GPA of 3.0 or better. Some schools require applicants to have taken the Graduate Record Examination (GRE) and provide letters of recommendation.
Master's Degree in Pharmaceutical Administration
Master's-level students learn about the world's pharmaceutical markets, and they study the many government regulations regarding the testing and distribution of new drugs. The pharmaceutical administration core curriculum includes studies in social and behavioral aspects of pharmacy, marketing and customer service, health care economics and health care financial management. Coursework includes the following:
- Social and public policy
- Pharmacoeconomic evaluations
- Patient-reported health outcomes
- Business administration
- Industrial pharmacy
Employment Prospects and Salary Information
Students who hold a Pharm.D. can become pharmacists. Employment of these professionals is expected to rise 3% between 2014 and 2024, which is slower than the average for all occupations, according to the U.S. Bureau of Labor Statistics (BLS). The BLS reported in May 2015 that pharmacists made a median salary of $121,500
Graduates of bachelor's or master's programs in pharmacy administration who don't hold a Pharm.D. may become health services managers, typically at the assistant level if they don't have prior work experience. The number of employed health services managers is projected to increase 17% between 2014 and 2024, according to the BLS, which is much faster than average. The median salary for health services managers as of 2015 was $94,500.
A Ph.D. in Pharmaceutical Administration focuses on research, health policy and education. This program includes courses on evaluating clinical outcomes or quality of care, organizational behavior, pharmacy management, instructional methods and issues related to medication use. Graduates of Ph.D. programs are qualified for post-secondary education careers, as well as senior-level research positions.
Students who earn a master's degree in pharmaceutical administration can enter a lucrative career field with a median salary in excess of $121,000. Students can advance their career even further by pursuing a Ph.D. and correlating a career as a senior-level researcher.