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Formulary Manager Salary in the United States

How much does a Formulary Manager make in the United States?

As of August 01, 2026, the average salary for a Formulary Manager in the United States is $170,959 per year, which breaks down to an hourly rate of $82.

However, a Formulary Manager's salary can vary significantly. Here’s a look at the typical salary range:

  • Top Earners (90th percentile): $210,160
  • Majority Range (25th-75th percentile): $149,396 to $191,479
  • Entry-Level (10th percentile): $129,764
Salary Factors Salary-Boosting Skills Salary by Experience Related Job Salaries Top Paying Cities Explore Related Jobs

Key Factors That Influence Formulary Manager Salaries

A Formulary Manager's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how geographic location and company size can directly affect your earning potential.

How Do Formulary Managers Salaries Vary from State to State?

Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Formulary Managers. For example, consider the average annual salaries in these key locations:
  • District of Columbia: $189,286.
  • California: $188,568.
  • Massachusetts: $186,055.

Top Paying Cities for Formulary Manager

Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:

  • San Jose: $215,631
  • San Francisco: $213,270
  • Oakland: $208,775

Formulary Manager Salary by Company Size: Startups vs. Enterprise

Formulary Manager salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $189,570. While startup companies pay approximate $160,811.

Formulary Manager Salary by Company Size

Company Size Employees Average Salary
Startup 1~50 $160,811
Growth Stage 51~500 $169,967
Established 501~5000 $183,155
Enterprise 5000+ $189,570

Formulary Manager Salary by Industry: Top Paying Sectors

For Formulary Manager roles, the industry you choose can affect earning potential by as much as 60% (the gap between the highest and lowest paying industries). Data shows that the Healthcare and Pharmaceuticals sectors offer the strongest compensation, at 30% above the average. In contrast, Formulary Manager positions in Insurance or Edu., Gov't. & Nonprofit typically offer lower base pay, as these industries often view Formulary Manager as a support function rather than a direct revenue driver.

The top paying industries for a Formulary Manager

Industry Sector Average Annual Salary Average Hourly Rate Pay vs.Avg
Healthcare$222,247$107.030%
Pharmaceuticals$205,151$99.020%

Formulary Manager Salary: Hourly Rate, Weekly Pay, and Monthly Pay

Understanding how a Formulary Manager's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.

Last Updated on August 01, 2026
$149,396
Average $170,959/year
$191,479
$12,450
Average $14,247/month
$15,957
$2,873
Average $3,288/week
$3,682
$72
Average $82/hour
$92
Annual Salary Monthly Pay Weekly Pay Hourly Wage
75th Percentile $191,479 $15,957 $3,682 $92
Average $170,959 $14,247 $3,288 $82
25th Percentile $149,396 $12,450 $2,873 $72

Most common benefits for Formulary Manager

  • Social Security
  • 401 (k)
  • Disability
  • Healthcare
  • Pension
  • Time Off (days)

Common company salaries for Formulary Manager

Here are companies hiring for Formulary Manager and their salaries, click below for more details.

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FAQ about Formulary Manager

1. Where can a Formulary Manager earn the most?

A Formulary Manager's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, a Formulary Manager earns the most in San Jose, CA, where the annual salary of a Formulary Manager is $215,631.

2. What is the highest pay for Formulary Manager?

The highest pay for Formulary Manager is $210,160.

3. What is the lowest pay for Formulary Manager?

The lowest pay for Formulary Manager is $129,764.

4. What are the responsibilities of Formulary Manager?

Responsible for building and maintaining the drug formulary and ensuring the list is clinically sound, compliant with regulations, and aligns with the needs of payer clients and their members. Manages the end-to-end formulary lifecycle from new drug evaluation through tier placement, change implementation, and member communication. Monitors the FDA approval pipeline and assesses newly approved drugs for formulary inclusion using clinical criteria. Requires a doctorate degree in pharmacy. May require applicable license and/or certification. Typically reports to a director. Manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. Typically requires 5 years experience in the related area as an individual contributor. 1-3 years supervisory experience may be required. Extensive knowledge of the function and department processes.

5. What industry pays the highest salary for Formulary Manager?

The Healthcare industry offers the highest average compensation for Formulary Manager roles, with salaries approximately 30% above the market median.

Where Does Our Salary Data Come From?

Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.

We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)

With the most extensive online, real-time compensation data available, Salary.com helps you pinpoint your exact pay target.

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