Pharmacy Benefit Manager Salary in the United States

Pharmacy Benefit Manager Salary

How much does a Pharmacy Benefit Manager make?

As of April 01, 2025, the average annual salary for a Pharmacy Benefit Manager in the United States is $135,641. According to Salary.com, salaries can range from a low of $110,958 to a high of $164,907, with most professionals earning between $122,721 and $150,960.

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Pharmacy Benefit Manager Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Pharmacy Benefit Manager Salary $110,958 US April 01, 2025
25th Percentile Pharmacy Benefit Manager Salary $122,721 US April 01, 2025
50th Percentile Pharmacy Benefit Manager Salary $135,641 US April 01, 2025
75th Percentile Pharmacy Benefit Manager Salary $150,960 US April 01, 2025
90th Percentile Pharmacy Benefit Manager Salary $164,907 US April 01, 2025
25% $122,721 10% $110,958 90% $164,907 75% $150,960 $135,641 50%(Median) Didn’t find job title? Click
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What is a Pharmacy Benefit Manager ?

In the United States, a pharmacy benefit manager (PBM) is a third-party administrator of prescription drug programs for commercial health plans, self-insured employer plans, Medicare Part D plans, the Federal Employees Health Benefits Program, and state government employee plans. According to the American Pharmacists Association, "PBMs are primarily responsible for developing and maintaining the formulary, contracting with pharmacies, negotiating discounts and rebates with drug manufacturers, and processing and paying prescription drug claims. For the most part, they work with self-insured com...

Source: Wikipedia (as of 04/18/2019). Read more from Wikipedia

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Job Openings for Pharmacy Benefit Manager

Career Path for this job

  1. Down a level:

    Benefits Supervisor

    3 - 5 years experience
    Bachelor's Degree

  2. This Job:

    Pharmacy Benefit Manager

    5 + years experience
    Bachelor's Degree

  3. Up a level:

    Benefits Senior Manager


    Bachelor's Degree

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Understand the total compensation opportunity for a Pharmacy Benefit Manager, base salary plus other pay elements

Average Base Salary

Core compensation

 
 
 
122721
150960
135641

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
122721
150960
135641
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Pharmacy Benefit Manager in the United States. The base salary for Pharmacy Benefit Manager ranges from $122,721 to $150,960 with the average base salary of $135,641. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $122,721 to $150,960 with the average total cash compensation of $135,641.

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122721
150960

 

Skills associated with Pharmacy Benefit Manager: Reporting

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Learn more about: Compensation Packages, Employee Flight Risk, Gender Pay Gap, Job Openings for This Role

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