Health care is among the largest industries in the United States, and the need for qualified candidates at all levels and in all positions throughout the field continues to grow each year. There is a lot of flexibility in the types of positions that can be accepted, including location. From small suburban areas to large metropolitan cities, a health administration career can take job seekers where they want to go. There is considerable upward movement in the field, and the skills and experience learned in the healthcare industry make managers viable candidates in other areas as well. Plus, the health administration field has several high paying positions to pursue in organizations such as hospitals, medical facilities, hospice care, and many other healthcare facilities.
After a Master’s Degree in Health Administration
Earning a mater’s degree in health administration is the first step to finding a position in one of the highest paying positions related to the field. Forbes ranked health care administration as the eighth best master’s degree for jobs. The mid-career median pay is estimated at $87,800 and the projected employment increase is 22 percent.
Management Positions
Candidates who earn a master’s in health administration are qualified for a variety of positions in the healthcare industry. Some of the highest paying positions are CEO, hospital administrator, and medical and health services manager.
Chief Executive Officer: The salary range for CEOs varies by the size of the company or organization and experience of the candidate. From the mid-$100,000 to higher, salaries for CEOs at large hospitals can be up to one million dollars or more.
Hospital Administrator: Hospital administrators can take on various roles within a medical facility, and this position typically oversees the operations and management of the hospital’s resources and departments, ensuring that each delivers the organization’s vision and mission. The average annual salary is $93,000.
Medical and Health Services Manager: Medical and health services managers oversee the planning and operation of hospitals, health care offices, and other medical service organizations, making strategic decisions for the day-to-day operation of the facility. The Bureau of Labor Statistics (BLS) reports that with just a bachelor’s degree, medical and health services managers make an average salary of $84,270. With more experience and education, managers can make significantly more, ranging up to more than $200,000.
Specialized Positions
Some positions in a hospital, hospice center, or other healthcare facility require a master’s in healthcare management in addition to specialization in a specific area.
Healthcare chief information officers (CIO) and chief financial officers (CFO) can earn up to $300,000 or more. These executive positions often require additional training and knowledge in computer systems and finance, respectively.
The average salary for a nurse administrator or director of nursing ranges between $100,000 and $200,000. These positions typically require candidates to hold a master’s in health administration or equivalent in conjunction with several years of nursing experience.
For additional information on careers and average salaries in the health administration field, visit the Occupational Outlook Handbook, reported by the U.S. Department of Labor’s Bureau of Labor Statistics.
