Healthcare administrators are the decision-makers who keep hospitals and clinics running smoothly. With a Master of Business Administration (MBA) in healthcare administration, you can become a leader responsible for setting the course for the healthcare workers helping patients on the frontlines. The benefits of earning an MBA in healthcare administration are many — job stability, excellent pay and leadership opportunities, to name a few. Making the decision to pursue your online MBA in healthcare administration is the first step along a career path that’s as dynamic as it is rewarding.
High Demand for Healthcare Administrators
Earning an MBA in healthcare administration gives you entry into an ever-growing professional field. According to the U.S. Bureau of Labor Statistics, the need for medical and health services managers is projected to grow by more than 30 percent over the next decade (which is much faster than the average for all occupations). Between 2020 and 2030, an estimated 51,800 medical and health services managers will be needed each year, to account for people leaving the field or retiring.
Jobs for MBAs in Healthcare Administration
You may ask yourself, “is an MBA in healthcare administration worth it?” Overwhelmingly, the answer is yes. Once you’ve completed your MBA in healthcare administration, you can choose from a wide range of careers that provide huge leadership and growth opportunities. Some people with an MBA in health administration can go on to lead an entire hospital, while others chose to manage a specific department within a clinic. Some careers with an MBA in healthcare administration are even more specific, like managing medical records or offering consulting services to care providers. No matter which job you choose, strategic thinking and people leadership are skills that are central to your job.
Increasing your Salary Potential
Although a postgraduate degree isn’t a guarantee for job placement or a six-figure salary, having an MBA in health administration improves your chances of earning a top salary in that field. The average salary of a master’s in healthcare administration depends greatly on where you’re working and in what capacity. A job at a private facility may pay more than a public one, and you’ll likely earn more as an executive than a manager. However, according to the BLS, the median annual wage for health administrators was $104,280. Compare this to $41,950, the median annual wage for all occupations, and you can see that better salary is one of the benefits of an MBA in healthcare.
Opening Up Career Paths
In a highly competitive job market, earning an MBA in health administration gives you a leg up among candidates who don’t. Employers typically require a bachelor’s degree, and most prefer an MBA for senior health administration roles. The time you dedicate toward getting an online MBA in healthcare administration pays off when you have the advantage of an advanced degree to set you apart.
How Can You Earn an MBA in Healthcare?
The opportunities and advantages of an MBA in health administration are many. At Tiffin University, there are flexible options that allow you to earn a degree that will jumpstart a fulfilling career in healthcare. Tiffin’s online MBA in healthcare administration offers flexible start dates, so you can begin your courses when it’s best for you. You can start your MBA in healthcare administration online in January, March, May, July, August or October. You can also earn your degree on campus, with courses starting in January and August.
Discover how earning an online MBA in healthcare administration at Tiffin University can be the beginning of a career with lifelong benefits.