Pharmacist Salary in New Mexico

How Much Does a Pharmacist Make in New Mexico?

The typical Pharmacist salary in New Mexico ranges from $89,600 to $166,400, with the national median at $128,000.

Dispense prescription medications and provide healthcare advice Your actual take-home pay as a Pharmacist in New Mexico depends on:

• Your specific salary or hourly rate
• Federal income tax (10% to 37% progressive rates)
• FICA taxes (7.65% for Social Security and Medicare)
• New Mexico state income tax
• Local taxes (if applicable in your city)
• Health insurance and retirement contributions
• Cost of living in your specific city or region

Taxes for Pharmacist in New Mexico

As a Pharmacist working in New Mexico, you'll pay the following taxes on your income:

Federal Income Tax

Everyone in the US pays federal income tax, including Pharmacist professionals. The federal tax system uses progressive tax brackets ranging from 10% to 37%, meaning you pay different rates on different portions of your income.

FICA Taxes

Social Security and Medicare taxes (FICA) total 7.65% of your gross income:

• Social Security: 6.2% (on first $168,600 in 2025)
• Medicare: 1.45% (no income limit)
• Additional Medicare: 0.9% on income over $200,000

New Mexico State Income Tax

New Mexico has a state income tax that applies to all Pharmacist salaries earned in the state. The exact rate depends on New Mexico's tax brackets and your total income.

Use our New Mexico salary calculator to see your exact state tax based on your Pharmacist salary.

Cost of Living for Pharmacist in New Mexico

Your Pharmacist salary goes further or shorter depending on the cost of living in your area of New Mexico. Key factors include:

• Housing: Rent or mortgage payments (often 25-35% of take-home pay)
• Transportation: Car payments, gas, insurance, or public transit
• Food: Groceries and dining out
• Healthcare: Insurance premiums, copays, prescriptions
• Utilities: Electric, gas, water, internet

A $128,000 Pharmacist salary in a low-cost area of New Mexico provides significantly more buying power than the same salary in an expensive metro area.

Pharmacist Salary Examples in New Mexico

Here's what different Pharmacist salary levels look like in New Mexico:

Entry-Level Pharmacist ($89,600)

• Gross annual salary: $89,600
• Federal tax: ~$10,752
• FICA: ~$6,854
• New Mexico state tax: Varies
• Approximate take-home: $62,720

Median Pharmacist ($128,000)

• Gross annual salary: $128,000
• Federal tax: ~$20,480
• FICA: ~$9,792
• New Mexico state tax: Varies
• Approximate take-home: $85,760

Experienced Pharmacist ($166,400)

• Gross annual salary: $166,400
• Federal tax: ~$36,608
• FICA: ~$12,730
• New Mexico state tax: Varies
• Approximate take-home: $99,840

Calculate your exact take-home pay: These are estimates. For precise calculations based on your specific situation, use our New Mexico salary calculator.

Compare Pharmacist Salaries Across States

The same Pharmacist salary can result in very different take-home pay depending on the state:

• No-tax states (TX, FL, NV, TN, WA): Higher take-home pay
• Low-tax states (AZ, IN, ND, PA): Moderate take-home pay
• High-tax states (CA, NY, NJ, HI): Lower take-home pay

A $128,000 Pharmacist salary in California results in about $6,400 to $12,800 less take-home pay per year compared to the same salary in a no-tax state.

Frequently Asked Questions

What is the average Pharmacist salary in New Mexico?

The average Pharmacist salary in New Mexico varies by experience, location within the state, and employer. The national median is $128,000, with typical New Mexico salaries ranging from $89,600 to $166,400.

How much does a Pharmacist make after taxes in New Mexico?

After federal taxes, FICA, New Mexico state tax, and typical deductions, a Pharmacist earning $128,000 in New Mexico takes home approximately $83,200 to $89,600 per year.

Is New Mexico a good state for Pharmacist professionals?

It depends on your priorities. Consider New Mexico's cost of living, career opportunities, quality of life, and state tax burden when evaluating your options.

Next Steps

Ready to see your exact Pharmacist take-home pay in New Mexico?

Use our New Mexico salary calculator →

Or compare Pharmacist salaries across different states to find the best location for your career.