University News

Prestige and Financial Stability Sited as Motivating Factors to Pursue a Doctor of Pharmacy Degree

Published: January 25, 2023 | Categories: All News, Faculty, Pharmacy and Health Sciences
Students in Pharmacy setting

New research published in the International Journal of Pharmacy Practice reveals the motivating factors behind individuals pursuing a Doctor of Pharmacy (PharmD) degree. The study, conducted by Dr. Natalia Shcherbakova, Associate Professor of Pharmacoeconomics at Western New England University (WNE) with colleagues Dr. Sally Huston Associate Professor of Administrative Sciences at the Keck Graduate Institute (KGI) School of Pharmacy and Health Sciences, and Senior Clinical Scientist at BioMarin Pharmaceutical Inc. Dr. Dane Osmond, found that prestige and financial stability were the most significant drivers for individuals to pursue a PharmD.

The research surveyed 110 first-year pharmacy students from Western New England University, a 4-year program in Springfield, MA. The results showed that financial stability was a significant driver for 97% of the respondents, with many citing the potential for a high salary and job security as reasons for pursuing a PharmD. Prestige of a doctorate degree was also a major factor for 88% of respondents, with many noting the status and recognition associated with holding a doctorate degree in their field.

The study revealed that students were also motivated to pursue a PharmD for its good work-life balance, the opportunity to use critical thinking skills, having patient interaction and communication, and the desire to be in a profession or service.

"This research highlights the importance of promoting the various benefits of a PharmD degree, including the positive impact on patient care, prestige, and financial stability, to attract a diverse group of highly qualified individuals to the field," said Dr. Shcherbakova.

The findings of this study have important implications for prospective students considering a doctorate in pharmacy. The PharmD allows graduates to pursue versatile careers in healthcare and pharmaceutical industry and achieve their personal, professional, and financial goals.

The full study, "Prestige and financial stability: motivating factors to pursue a doctor of pharmacy degree," can be found in the International Journal of Pharmacy Practice.