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Pharmaceutical Economics

A program that focuses on the application of economics and policy analysis to the study of the relationship of pharmacy services and pharmaceutical processes and products to the health care system and their impact on health care organizations. Includes instruction in health economics, pharmacoeconomics, health care systems, health care organization and management, statistics and biostatistics, outcomes research, health care policy, pharmacy services, and pharmaceutical industry operations. Examples: [Pharmacoeconomics/Pharmaceutical Economics (MS)], [Pharmacoeconomics/Pharmaceutical Economics (PhD)]

Types of Degrees Pharmaceutical Economics Majors Are Earning

Students pursuing Pharmaceutical Economics have the option of earning degrees at several award levels.

Award Level	Graduates
Master’s Degree	109
Doctor’s Degree	41

What Pharmaceutical Economics Majors Need to Know

Coursework for Pharmaceutical Economics emphasize a specific mix of knowledge, skills, and abilities — derived from O*NET surveys of workers in occupations that Pharmaceutical Economics graduates commonly enter.

Knowledge Areas

Coursework in Pharmaceutical Economics emphasizes the following knowledge areas:

• English Language — Importance 4.4 / 5; level 5.3 / 7.
• Education and Training — Importance 4.4 / 5; level 5.6 / 7.
• Mathematics — Importance 3.7 / 5; level 4.6 / 7.
• Administration and Management — Importance 3.5 / 5; level 3.9 / 7.
• Computers and Electronics — Importance 3.4 / 5; level 4.1 / 7.

^{Importance is rated 1–5; level is 1–7. Source: ONET Online — weighted across related occupations.*}

Skills

Skills emphasized by a Pharmaceutical Economics program reflects the day-to-day work of related occupations:

• Speaking — Importance 4.1 / 5; level 4.5 / 7.
• Reading Comprehension — Importance 4.1 / 5; level 4.7 / 7.
• Instructing — Importance 4.0 / 5; level 4.2 / 7.
• Writing — Importance 4.0 / 5; level 4.5 / 7.
• Active Listening — Importance 4 / 5; level 4.4 / 7.

Abilities

Abilities most relevant to Pharmaceutical Economics careers — again drawn from O*NET surveys of related occupations:

• Oral Expression — Importance 4.4 / 5; level 4.9 / 7.
• Written Comprehension — Importance 4.1 / 5; level 4.9 / 7.
• Oral Comprehension — Importance 4.0 / 5; level 4.9 / 7.
• Written Expression — Importance 4 / 5; level 4.9 / 7.
• Speech Clarity — Importance 4.0 / 5; level 4.6 / 7.

Common Job Activities

Day-to-day, Pharmaceutical Economics graduates report doing:

Activity	Frequency / Importance
Getting Information	4.6 / 7
Updating and Using Relevant Knowledge	4.5 / 7
Training and Teaching Others	4.4 / 7
Working with Computers	4.4 / 7
Thinking Creatively	4.2 / 7
Analyzing Data or Information	4.1 / 7
Interpreting the Meaning of Information for Others	4.1 / 7
Identifying Objects, Actions, and Events	4.1 / 7
Organizing, Planning, and Prioritizing Work	4.0 / 7
Making Decisions and Solving Problems	4.0 / 7

Technology Skills Used on the Job

Most frequently-cited tools used by Pharmaceutical Economics professionals:

Tool / Software	Category	In-Demand
Microsoft Office software	Office suite software	✓
Microsoft Access	Data base user interface and query software	—
Microsoft Outlook	Electronic mail software	✓
Microsoft Excel	Spreadsheet software	✓
Web browser software	Internet browser software	—
Microsoft PowerPoint	Presentation software	✓
Microsoft Word	Word processing software	—
Google Docs	Word processing software	—
Collaborative editing software	Word processing software	—
Sakai CLE	Computer based training software	—
iParadigms Turnitin	Information retrieval or search software	—
Email software	Electronic mail software	—

^{Source: ONET Online technology skills, weighted across related occupations.*}

Sample Job Titles

Real job postings for Pharmaceutical Economics graduates include:

• Professor
• Associate Professor
• College Professor
• Assistant Professor
• Instructor
• College Faculty Member
• University Faculty Member
• Teacher
• Faculty Member
• Lecturer
• Virology Teacher
• Recreation Therapy Aides Teacher
• Prosthetic Aides Teacher
• Dermatology Teacher
• Serology Teacher

What Can You Do With a Pharmaceutical Economics Degree?

Graduates with a degree in Pharmaceutical Economics commonly enter the following occupations:

Occupation	Job Growth	Median Salary	25th–75th Pctile
Health Specialties Teachers, Postsecondary	10.7%	$46,663	$40,304–$53,022

^{Job-growth = projected employment change for the parent occupation. Source: ONET / BLS Employment Projections.*}

Education Typically Required

Across the occupations open to Pharmaceutical Economics graduates, the typical level of education actually held by current workers is distributed as:

Education Level	Share of Workers
Doctoral degree	39.6%
Master’s degree	24.8%
Bachelor’s degree	14.5%
Post-doctoral training	9.9%
Associate’s degree (or other 2-year)	3.9%
Post-master’s certificate	3.1%
Postsecondary certificate	2.5%
First professional degree	0.5%
Some college courses	0.5%
High school diploma or equivalent	0.5%

^{Source: ONET Online education / training / experience requirements.*}

Who Is Earning a Degree in Pharmaceutical Economics?

Gender Distribution

This field skews predominantly female, with women earning 65.3% of Pharmaceutical Economics degrees.

Gender	Graduates	Share
Women	98	65.3%
Men	52	34.7%

Racial-Ethnic Diversity

At the national level, the racial-ethnic distribution of Pharmaceutical Economics graduates is as follows:

Race / Ethnicity	Graduates	Share
White	35	23.3%
Asian	25	16.7%
Hispanic or Latino	6	4.0%
Black or African American	5	3.3%
Native Hawaiian / Pacific Islander	1	0.7%
Two or More Races	1	0.7%
Race Unknown	3	2.0%
International Students	74	49.3%

^{See minority definition below.}

How Much Do Pharmaceutical Economics Graduates Earn?

Federal data tracks median earnings of Pharmaceutical Economics graduates 1, 4, and 5 years after completion. Wages typically rise steadily as graduates gain experience and move into mid-career roles.

Years Out	Median Earnings
1 year	$100,486
4 years	$129,383
5 years	$140,029

By year 5 out, median earnings rise to $140,029 — roughly 39% above the 1-year mark.

^{Source: U.S. Department of Education College Scorecard, field-of-study earnings tracker.}

Online Pharmaceutical Economics Programs

Online study is tracked by IPEDS for Pharmaceutical Economics. The table below shows how many graduates earned at least some of their coursework online (Distance-Ed Available) versus completing the entire program online (Distance-Ed Only).

Award Level	Distance-Ed Available	Distance-Ed Only
Master’s	1	2

^{Distance-Ed Only = degrees completed entirely online; Distance-Ed Available = degrees including at least some online coursework. Source: IPEDS Completions by Distance Education status.}

Is a Degree in Pharmaceutical Economics Worth It?

Strictly by the federal earnings tracker, Pharmaceutical Economics graduates earn a median of $129,383 four years after completion — roughly 240% above the national median for workers with only a high school diploma (~$38,000).

^{ROI estimate compares the program’s 4-yr median earnings against the 2023 BLS CPS median earnings for high-school-only workers. Source: U.S. Department of Education College Scorecard + BLS Current Population Survey.}

Related Programs

You may also be interested in these closely related fields of study:

Program	Annual Degrees Awarded
Pharmacy, Pharmaceutical Sciences, and Administration	18,055
Pharmacy	12,167
Community Health and Preventive Medicine	2,571
Pharmacy, Pharmaceutical Sciences, and Administration, Other	1,079
Industrial and Physical Pharmacy and Cosmetic Sciences	1,000
Pharmaceutics and Drug Design	603
Clinical and Industrial Drug Development	244
Medicinal and Pharmaceutical Chemistry	185
Natural Products Chemistry and Pharmacognosy	181
Pharmacy Administration and Pharmacy Policy and Regulatory Affairs	150
Pharmaceutical Marketing and Management	84
Clinical, Hospital, and Managed Care Pharmacy	20

References

The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students and international students. This number is then divided by the total number of students to obtain the racial-ethnic minorities percentage.

• College Factual
• National Center for Education Statistics (IPEDS)
• O*NET Online
• U.S. Bureau of Labor Statistics
• U.S. Department of Education College Scorecard

More about our data sources and methodologies.