Report of the 2007–2008 Academic Affairs Committee

Economic Analysis of Earning a PhD Degree After Completion of a PharmD Degree

“…5,[8][9][10][11][12][13] To encourage pharmacy graduates to enter graduate school, researchers have suggested colleges and schools use such interventions as stressing scientific inquiry, utilizing marketing models, mentoring students, promoting flexibility within pharmacy curricula, and providing competitive stipends to graduate students. 8,[14][15][16][17][18][19][20][21][22] Completion of graduate education constitutes an investment. The pharmacy school graduate who chooses to invest in graduate education must forego considerable financial incentives associated with entering pharmacy practice directly.…”

“…In the last 30 years, pharmacy educators have stressed the need for faculty members with PhD training and the skills learned therein to advance the profession. 10,15,25 Given the financial opportunity cost and time associated with pursuing a graduate degree, why then would anyone with a US pharmacy degree consider pursuing graduate school? There are 2 hypotheses that justify pursuing graduate school: (1) there are long-term financial incentives associated with obtaining a PhD and/or (2) pharmacy school graduates are motivated to pursue the PhD degree by nonfinancial motivational beliefs.…”

Junior Pharmacy Faculty Members’ Perceptions of Their Exposure to Postgraduate Training and Academic Careers During Pharmacy School

“…1 Previous recruitment and retention research has focused on interventions that stress scientific inquiry (to pharmacy students), use marketing models to promote academic careers, promote mentor/ mentee faculty/student relationships, align individual and institution value systems, promote flexibility within pharmacy school curricula, and provide competitive stipends to individuals who pursue postgraduate training. 4,[10][11][12][13][14][15][16][17] Despite faculty recruitment and retention being labeled as a "top issue and challenge" by AACP, 9 a shortage of pharmacy faculty members still exists. Arguably, an understanding of US pharmacy degree earners' perceptions of commonly pursued postgraduate training paths (residencies, fellowships, and graduate school) is crucial to addressing the faculty shortage given that postgraduate training is a prerequisite for faculty appointment.…”