So it would seem... It comes down to a basic supply and demand principle, as does anything where making money is concerned.
Some facts about pharmacy:
22 schools of pharmacy in the UK
~180 students admitted to each school per year
~3600 pharmacists qualify EVERY YEAR
~7000 people miss out on a place to study pharmacy EVERY YEAR
~ 12000 Community Pharmacies in the UK. TWELVE THOUSAND ACROSS THE UK.
So let's look at those figures ^ - Pharmacy schools are missing out on 7000 peoples' money every year. Do you think they will cull the amount of graduates, or do you think they will take more on in the future? Hmm, tough one, but I think they may try and capitalise on the losses here.
So, aside from the fact you have a fairly prosperous business model for taking on lots of pharmacy students each year, you have the fact that there is potential for bigger growth in the sector as well. You also have to consider that with about 18,000 extra qualified people looking to work as pharmacists in the UK every 5 years (the time it takes to do an MPharm + reg), coupled with the fact that jobs are already taken, and it stands to reason you will be lucky to find work in a good position with your pharmacy degree. You also have to pay attention to what the current working professionals are saying, which is automation of the industry, and the likelyhood that the number of pharmacist positions in the UK will considerably lower in the next few years with new streamlining measures in the NHS, and business-measures being adopted in the community.
Oh and of course, the figures above DO NOT include foreign pharmacists seeking work in the UK. Competition is too feirce without foreign pharmacists to consider.
Basically, if the current model keeps on this way, you're stuffed. But it's not looking like it will sttabilise, it's looking like it will churn out EVEN MORE graduates in the future because there are still 7000 people missing out on studying pharmacy every year. ALARM BELLS SHOULD BE RINGING. Something is seriously out of balance in this profession!! The majority of you graduates will not be able to work as pharmacists, and those of you who do manage to find work, will have no job security, poor working conditions, and about 100 people waiting to step in and take your job. Sounds like a nice career? Not to me!