As of July 01, 2026, the average salary for a Formulary Manager in New York is $181,285 per year, which breaks down to an hourly rate of $87.
However, a Formulary Manager's salary can vary significantly. Here’s a look at the typical salary range:
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Formulary Manager Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $203,043 | $16,920 | $3,905 | $98 |
| Average | $181,285 | $15,107 | $3,486 | $87 |
| 25th Percentile | $158,419 | $13,202 | $3,047 | $76 |
KPH Healthcare Services - East Syracuse, NY
Pharmacy Careers - New York, NY
Hispanic Alliance for Career Enhancement - New York City, NY
Beau Jo's Management Company - EVERGREEN, CO
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.
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:
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:
Formulary Manager salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $201,148. While startup companies pay approximate $170,559.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $170,559 |
| Growth Stage | 51~500 | $180,285 |
| Established | 501~5000 | $194,351 |
| Enterprise | 5000+ | $201,148 |
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.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Healthcare | $235,670 | $113.0 | 30% |
| Pharmaceuticals | $217,542 | $105.0 | 20% |
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.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $203,043 | $16,920 | $3,905 | $98 |
| Average | $181,285 | $15,107 | $3,486 | $87 |
| 25th Percentile | $158,419 | $13,202 | $3,047 | $76 |
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