Locum Pharmacist Earnings vs. Employed Pharmacist Salary: Which Pays Better? (2025 UK Analysis)

It's one of the biggest career crossroads a pharmacist faces: the stability and structure of a permanent position versus the flexibility and high hourly rates of locum work. For years, the conventional wisdom was that locuming was the undisputed path to higher earnings.

But in the economic climate of 2025, is that still true? Recent market shifts, including a reported squeeze on rates and shift availability, have made this question more complex than ever. Let's break down the real numbers to see which path truly pays better.

The Case for Locum Earnings: The "Gross" Appeal

On the surface, the maths for locuming looks incredibly attractive. The primary advantage is the high gross hourly rate.

• Locum Rate (2025): £35 - £50 per hour

• Employed Equivalent: A pharmacist on a £55,000 annual salary, working 40 hours a week, earns approximately £26.44 per hour.

Instantly, you can see the appeal. A locum earning £45 per hour is grossing over 70% more per hour than their salaried colleague. This potential for high earnings gives you:

• Control over Income: Want to earn more? Work more shifts, target weekend or bank holiday work at a premium rate.

• Immediate Financial Reward: You are paid for every single hour you work.

Example Locum Gross Calculation:

Let's say you work an average of 4 days a week (32 hours) at £45/hour, and you take 6 weeks of unpaid holiday a year.

(32 hours/week×£45/hour)×46 weeks=£66,240 gross annual income

This figure looks substantially higher than the average employed salary. But this is only half the story.

The Case for an Employed Salary: The Full Package

An employed pharmacist's remuneration isn't just their salary; it's a comprehensive package of benefits that have significant, often underestimated, monetary value.

• Guaranteed Income: Your salary is paid reliably every month, regardless of whether it's a quiet or busy period. You can budget with certainty.

• Paid Holidays: A full-time employee in the UK is entitled to a minimum of 28 days of paid leave.¹ That's 5.6 weeks where you are earning without being at work.

  
  

• Sick Pay: If you are unwell, you still get paid. A locum earns nothing. A week off for the flu could cost a locum over £1,400 in lost earnings.

• Workplace Pension: This is a monumental financial benefit. Your employer is legally required to contribute to your pension (a minimum of 3%). This is essentially free money towards your retirement that locums have to fund entirely themselves.

• Paid Training & Development: Many employers will pay for your CPD, training courses, and professional fees.

• Other Perks: This can include company bonuses, staff discounts, private health insurance, and life assurance policies.

• Career Progression: A structured path to higher-paying roles like pharmacy manager, clinical lead, or area manager.

The Head-to-Head Financial Breakdown

To get a true picture, we need to compare the total value of both packages, not just the headline numbers.

Feature	Employed Pharmacist (e.g., £55,000 salary)	Locum Pharmacist (e.g., £66,240 gross)
Guaranteed Income	Yes. Predictable monthly pay.	No. Income depends entirely on securing shifts.
Paid Holidays	Yes (e.g., 28 days + bank holidays)	No. All time off is unpaid.
Paid Sick Leave	Yes (Statutory or contractual)	No. £0 earned when not working.
Pension	Yes. Receives employer contribution (e.g., 3%+).	No. Must fund 100% of their own pension.
Professional Fees	Often paid by employer (GPhC, Indemnity)	Self-funded.
Training/CPD	Often funded by employer.	Self-funded.
Admin & Accounting	None required.	Self-funded (Accountant fees are common).
Job Security	High. Protected by employment law.	Low. Shifts can be cancelled at short notice.

The 2025 Market Reality Check

Recent data from pharmacist groups has shown that the market is becoming tougher for locums. The "empty diary" is a greater risk now than in previous years. The calculation of £66,240 gross income assumes you can secure 4 shifts every single week.

If, due to increased competition or lower demand, you only manage to secure 3 shifts a week, your annual gross income plummets to £49,680—less than the employed example, but without any of the benefits.

The Verdict: Which Actually Pays Better?

On paper, a busy locum with a full diary will have a higher gross income.

However, once you quantify the value of the employed benefits package, the gap narrows dramatically and, for many, disappears entirely.

Consider the value of a 3% employer pension contribution on a £55,000 salary (£1,650), plus 28 days of paid holiday (approx. £6,000 in value), and the safety net of sick pay. When you subtract the professional costs a locum must pay, the total net value of an employed package is often very competitive, and sometimes even superior, to the average locum's take-home pay.

• Choose Locum if: You are financially disciplined, have a low-risk tolerance for an empty diary, excel at networking to secure direct work, and your number one priority is schedule flexibility.

• Choose Employment if: You value stability, predictability, a comprehensive benefits package (especially the pension), and a clear path for career progression.

Ultimately, "pays better" is not just about the hourly rate. It's about the entire financial picture, including benefits, security, and risk. In 2025, the stability and comprehensive package of an employed role offer a more powerful financial proposition than they have in a long time.