Pharmacist Salary in Summit, NJ: $154,044 (2026)
Quick Answer:A full-time pharmacist in Summit, NJ earns a median $154,044/year (≈ $74.06/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 29-1051). Once you factor in Summit's price level (15% above national, BEA RPP 115.2), that paycheck buys what $133,719 would nationally. Nominal pay sits 6.8% below the New Jersey state average.
Based on BLS state-level estimates · View source
Pharmacists in Summit, New Jersey, can expect a median annual salary of $154,044 in 2026, positioning them above the national figure of $143,489. Salary ranges for pharmacists in the region reflect the diverse roles available, spanning from $120,371 at the lower end to $180,420 at the upper tier. These figures are based on 2025 BLS data projected to 2026, considering local economic conditions and price adjustments. The competitive compensation in Summit is influenced by the increasing demand for specialists, particularly those with residency training, who are preferred for hospital and specialty roles. With only five pharmacists employed in this area, the job market in Summit suggests strong potential for those seeking positions in clinical settings.
About the Summit Market
Salary estimated from New Jersey average ($140,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $120,371 | $57.87 |
| Lower Range (P25) | $148,255 | $71.28 |
| Median (P50)(typical) | $154,044 | $74.06 |
| Upper Range (P75) | $167,356 | $80.46 |
| Top Earners (P90) | $180,420 | $86.74 |
Median Salary Position
7.36% above the national average
2026 Salary Percentile Distribution in Summit
In Summit, NJ, the pharmacist salary spread from the 10th to 90th percentile is $60,049 (2026 est.). At $154,044, the local median is 7.36% above the national median of $143,489.
Salary Calculator
At 40 hours/week in Summit: You'd be above the median
How Summit Pharmacist Pay Compares
Summit median: $154,044/year (2026)
| Compared To | Median Salary | Summit Pays |
|---|---|---|
| New Jersey Average | $165,284 | -6.80% less |
| National Average | $143,489 | +7.36% more |
Pharmacists in Summit, NJ earn a median of $154,044 per year (2026 est.), which is 7.36% higher than the national median of $143,489 and 6.80% below the New Jersey state average of $165,284.
Cost-of-Living Adjusted Salary
Summit has a cost of living 15.20% above the national average.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Summit, NJ has a cost-of-living index of 115.2 (above the national average of 100). While the nominal salary of $154,044 is competitive, the higher cost of living reduces purchasing power to an effective $133,719 — a 13.19% reduction.
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2019 BLS Actual
$137,513
2025 BLS Actual
$151,276
2026 Current Est.
$154,044
2019–2027 Growth
+14.1%
Salary Trajectory for Pharmacists in Summit (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 1.83% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $137,513 | Actual |
| 2020 | $138,179 | Actual |
| 2021 | $138,028 | Actual |
| 2022 | $142,516 | Actual |
| 2023 | $146,037 | Actual |
| 2024 | $150,299 | Actual |
| 2025 | $151,276 | Actual |
| 2026(current) | $154,044 | Estimated |
| 2027 | $156,863 | Projected |
Based on 7 years of BLS OEWS data for the Summit metropolitan area, the median pharmacist salary grew 10.0% from $137,513 (2019) to $151,276 (2025). At a 1.83% compound annual growth rate, salaries are projected to reach $156,863 by 2027 — a total increase of $19,350 (14.07%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Summit metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 1.83% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $120,371 – $148,255 |
| 3-5 years (Mid Career) | $148,255 – $154,044 |
| 5+ years (Experienced) | $154,044 – $167,356 |
| 10+ years (Top Earner) | $167,356 – $180,420 |
PharmD salary ranges estimated from BLS percentile data. Individual pharmacist compensation varies by employer, certifications, and specialization.
Pharmacist Job Market in Summit
In assessing pharmacist pay in Summit, NJ, the local cost of living index of 115.2 indicates that compensation here must account for higher expenses compared to the national average. This means that while salaries may seem attractive, the purchasing power might not be as robust as it appears. Among various employers, pharmacy chains such as CVS, Walgreens, and specialty pharmacies are significant players offering competitive wages. Compensation variations are evident, driven by factors like board certification stipends, shift differentials, and the continuing impact of retail chain consolidations. To maximize pay in Summit, pharmacists should consider pursuing specialized certifications through BPS and seek roles that value advanced training, such as those requiring a PGY-1 residency. This strategic approach will not only enhance earning potential but also secure a place in the evolving landscape of pharmacy.
More salary data for Summit, NJ:
Frequently Asked Questions
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Written by Sofia Chen, PharmD
Career Analyst
Sofia Chen has 10 years of experience in community pharmacy. She specializes in medication therapy management.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $151,276 for pharmacistsin the Summit metropolitan area. A 1.83% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Summit is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 1.83%, derived from historical BLS wage trends for pharmacists (SOC 29-1051).
Compiled and verified by Sofia Chen, PharmD, a licensed pharmacist with 10+ years of clinical experience. · View source data at BLS.gov