Limit the supply

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Pharmacy career is getting saturated. More pharmacy schools are established, more pharmacists graduate, more supply than demand. It happened once in 1970s. I even feel that my salary right now is overpaid. One day, I may be laid off just like anybody else. In contrast, dentists and medical doctors are always needed. Lawyers are also on the rise, but then the schools immediately limit the number of students admitted so that the surplus will not occur. You know, some professions know how to limit the supply so that the salary will be kept up high. The average student loan for medical doctors is $800,000 and for dentists is $300,000. That amount is too high, which will lead to high health care cost to compensate for their debts.

I think AMA has the ability to open more medical schools, but they just don’t want to because it may hurt their compensation.

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