Well, as a former pharmacy student (at Charles Sturt uni), I agree with much of what lala2 is saying. It is quite true that pharmacy industry is being saturated with graduates: with 500+ graduates every year in NSW alone (and I suspect 1000+ across the nation), and only about 5,000 community pharmacies in Australia, one can indeed find himself/herself in the situation of being left without a graduate or post-registration job.
The situation is apparently better in the rural areas, but then it's not for everyone. I was not, for example, and spent the year that I spent at Charles Sturt studying so that I may be able to transfer into USYD pharmacy course. To cut the long story short, I ended up in a different university and degree, partly because I feared the career prospect will not be exactly bright if I attempt to make headways in saturated Sydney market with Charles Sturt degree. Industry and hospital pharmacy are the alternatives that as yet do not employ many qualified pharmacists. From what I remember from days in Charles Sturt, only large hospitals (usually 200+ beds) have an established pharmacy department, and competition is already quite high.
For a university course that accepts only high-calibre candidates, and which involves longer training than many other professions, it can be disheartening to find oneself in such difficult position. While I cannot verify from personal experiences lala2's observation that most of the routine tasks in community pharmacies do not require all the skills and knowledge gained in 5 years of training, it is true that the most significant value of the pharmacists is to double-check the prescriptions to make sure that no adverse drug interaction is expected.
In regards to pay, the average income of the pharmacists in community is around 70,000-100,000 from memory (though pre-reg pay is atrociously low), and the hospital pharmacists begin from 65,000 to upwards of 100,000. If you do own a pharmacy and operate it yourself, serious income is possible (average of 225,000), but that takes years of hard work for a pharmacist to get to that level. Not to mention that a significant number do not make it there.
I personally believe that those who have passion for pharmaceutical research should consider a career in pharmacy, but if you set your minds to community pharmacy, you might find some difficulties along the way. The government won't allow the establishment of many new pharmacies in any metropolitan or large regional centres, and to achieve career satisfaction, move to the rural areas may be necessity for many. Keep that in mind when you ponder your career path.
P.S. To lala2, and any other pharmacy students on board, feel free to correct any factual inaccuracies that I may have incorporated, wrote it in a rush. Though I'm in the different pathway, wish you guys the best luck in your studies and career. Persevere, and you will get what you want eventually!