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About lunacaptain

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  1. Associate owners for SDM are not required to put in any capital of their own. They are essentially a step above manager for that store (or several stores) and are paid a base salary of 120k + a percentage of the pharmacy's revenue. For an independent or a banner such as IDA or Medicine Shoppe, 800k-1.5mm is about what it costs to open one up.
  2. I just got off the phone with Scotiabank and got an emailed offer of the details for UBC Pharmacy: Line of credit up to $175k with all funds being disbursed annually Rate of Prime 1 year grace period Also included in the SPSP program: Free unlimited transaction chequing account with unlimited eTransfers Free Savings account $5k of Overdraft protection on the chequing account $10k worth of credit cards with no annual fees $5k for AMEX Gold https://www.scotiabank.com/ca/en/personal/credit-cards/american-express/gold-card.html $5k for Scotia Infinite Passport VISA https://www.scotiabank.com/ca/en/personal/credit-cards/visa/passport-infinite-card.html Seems very decent, although I do want to compare to the other big banks before signing up for this one.
  3. I'm staying in my hometown. Vancouver rent and car insurance is pretty expensive so I'll save some money by staying at home.
  4. The $25000 figure you're referencing is for the PharmD program for practicing pharmacists (for those who want to upgrade from a BSc). UBC actually has the most expensive pharmacy tuition in Canada, followed closely by UofT.
  5. There isn't a physical mailed admission letter, only 2 emailed admission letters: one from the faculty of pharmaceutical sciences and one from the undergraduate admissions office. You can also download the one from the admissions office on the SSC.
  6. The thing is, the OPA, the BC Pharmacy Association and all the other provincial associations (not the Colleges, which regulate the profession) that ostensibly lobby for pharmacists' interests are fairly powerless against nation-wide corporations like SDM, Loblaws, Safeway, etc. In the end it's about the bottom-line. The employer will want to maximize profits and cutting costs is the easiest way. That's just capitalism unfortunately. Nurses and teachers don't work for corporations usually so they have some of the strongest unions and bargaining associations. For hospital pharmacists however, it's a different story. They are under the HEU (in BC that is), and are therefore mostly immune against poor working conditions, wage cuts ect.
  7. I'd like you to give a proper reasoning instead of just stating something so vague.
  8. Yeah I listened to that episode yesterday actually! After reading so much doom and gloom it was surprising to hear that.
  9. I've heard the same thing as well, what my dad said was that Alberta pharmacists have a more advanced scope of practice than Ontario or BC and I'm speculating that the saturation isn't as bad? Slightly higher wages though (43 retail 50 hospital). UofA pharmacy is actually quite competitive, with 900 applicants competing for 138 spots! So in general I think Alberta seems to be a "better" province for pharmacists with better wages, less saturation, more advanced scope of practice. Ontario seems to be the worst province, BC is somewhere in the middle.
  10. Interesting find and calculation. I do agree that 360 openings per year in the entirety of BC is entirely reasonable given the amount of retail pharmacies and hospitals, so theoretically they should be able to comfortably absorb all of the 224 grads per year. Which is why I'm struggling to understand the root of saturation in the market. The only explanations could be that 1) BC licenses vastly more IPGs than locals per year 2) New Pharmacy grads are flocking to BC from other provinces (unlikely) 3) the number of Pharmacy positions are vastly cut and phased out (also unlikely due to number of job postings). If the workbc numbers were true, then there would be a bottleneck in terms of the number of jobs, but a quick look at indeed poses a different picture, which is truely confusing... I don't have hard numbers for IPGs, but it's not like you can write a few licensing exams and start working right away (like for dentistry). You have to go through UBC's CP3 program for 6 months and pass, pay 12k for it, pass the OSCE and then you can get licensed. I'd be surprised if every single international Pharmacist was willing to go through this. I'm going to do more research into the exact number of IPGs licensed per year to confirm whether or not saturation is stemming from that. Otherwise, I don't see what the problem is by looking at the numbers themselves. 224 students for 360 jobs (estimated), 80K tuition (more if you consider living expenses) for a job that will minimally make you 80k starting out assuming full time hours . (An hourly rate of $39.00 equates to a weekly pay of $1,560, monthly pay of $6,760, and an annual salary of $81,120.) In terms of a data point for salary, my dad made 108k last year as a hospital pharmacist in Victoria, BC. Coworkers made anywhere from 90k (staff) to 128k (level 2 specialist). Of course, in an ideal world, there would only be 110 or so students for those 360 jobs, tuition would only be 40k, and we would be paid 100k right away after school at 23 years of age, but that's the result of supply and demand unfortunately. In regards to the tuition increase, I heard rumors that UBC had to pay off their 300 million dollar pharmacy building they had just built but I'm leaning more in the direction that they just wanted to profit more off the program and decided to do it as it switched to a PharmD from Bsc. Moving forwards, it would be much better if BC could limit the number of IPGs and have government funded post- graduation mandatory residencies spots much like medicine, but one can only dream.
  11. Not sure if this is completely accurate, these are the stats for projected job openings for the lower mainland/southwest: Mainland / Southwest Employment in 2019: 2,820 Average annual employment growth(%) 2019-2029: 0.4% Expected number of job openings 2019-2029: 590 So if UBC graduates 224 students per year, and an estimated 80% of those students want to stay in the lower mainland (so 179), there will be 1790 graduates competing for these 590 jobs over the next 10 years? If the entire province is taken into account and 95% of students want to stay in BC, there would be 2128 (224*10*0.95) graduates competing for 970 predicted job openings? These are all rough estimations and I haven’t accounted for IPGs but this seems on the low side. I can count over 260 retail pharmacies and 21 hospitals in metro Vancouver alone, yet only 590 job openings in an entire decade for this area? That would be an average of 59 per year, which I find it hard to believe given the amount of pharmacies and hospitals in the area. Unless workbc’s definition of a “job opening” is a full time permanent position, which then would somewhat make sense given the amount of floating and part-time work that happens at the beginning of one’s career. Otherwise, just by data alone there would be an estimated 46% (970/2128) chance of landing a job offer after graduation? I’m trying to make sense of the numbers but unless I’m doing this wrong it seems… bad. Also how do RNs have a projected 19580 openings, and lawyers have a projected 5160 openings, while pharmacists have 970?
  12. Interested in this as well, it would be helpful if UBC published employment statistics for Pharm (like they do for law) but they don't.
  13. You can only reach 70k in accounting after you've done your CPA, which in and of itself requires 30 months of work as a staff accountant and two years of part-time study. Starting pay for accountants is absolute crap at 37K or so for big4, which is pretty much the poverty line in major cities. So in the grand scheme of things, Pharm isn't really that bad. Where I live (Victoria) wages are in the 43ish range and saturation isn't as bad. So what I would say to anyone complaining about Pharm: aside from Med/Dent, what mainstream, white-collar profession gets you 80K-90K right out of school? There aren't that many options. In order, I would rank it like this: Med>Dent>Optometry>Pharm>Law>Accounting>Nursing>sonography/medical lab tech>
  14. I got the formal acceptance letter email from the UBC admissions office at 11:57am. The SSC was updated to admitted at the same time.
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