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As for the need; that is because not everyone can be a Pharmacist. School is tedious and if everyone could do it then we would not have a shortage.
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A LOT of people can be pharmacists. Universities just artificially create a shortage of them. Duh. There's tons of people applying with degrees that have 4.0s and they don't get in. Not to mention, that is insane and retarded. Why do we want the smartest people to be pharmacists when they could be engineers or scientists? That degree that they get isn't really a doctorates degree and most people would agree to that. One year out of three or 4 is devoted to experience at different pharmacy jobs. You can get a PharmD in 5 years or even 4 1/2 if you rush the first 2 undergraduate years.
Remember C = PharmD
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Pharmacist more than deserve the money they make. They a lot of responsibility and they have to be on top of their game. YOUR LIFE is in their hand!!! Your doctor can slip up with your medications but it is the pharmacist that cannot let it pass them by!!! Consider chemotherapy agents and mixes are prepared by pharmacist according to individual patient needs. Consider what their true job is.
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Are you kidding me? They already make as much as a senior engineer or senior software engineer out of college. With over time they make 150000-200000. There's like absolutely no more compounding pharmacists because all the drugs are already made. Of course a pharmacist also doesn't need to know all of the drugs because it would be impossible, and they just look at the drug info on their computer or bottle anyways. Do you have to keep up with the times as much as an engineer or software engineer? Not even close.