Masters in Healthcare Administration: Salary Details and Career Outlook

Healthcare administration is a rapidly growing field. As the large baby-boom population ages and remains active longer, the need for healthcare professionals at all levels is expected to grow significantly. According to the Bureau of Labor Statistics, the growth for medical and health services managers will increase by 20% by 2026. As the field grows, the competition for these well-paying jobs is also likely to increase.

The Value of an MHA Degree

So how can you give yourself an edge? Pursuing a Master of Healthcare Administration (MHA) degree program can help you gain the knowledge and skills needed to secure leadership positions in the healthcare industry. An MHA will prepare you for advanced roles in healthcare administration, including consultant, hospital or health services organization leader or as a change agent in public health.

In a typical MHA program you’ll learn to:

• Recognize and articulate facts, concepts and procedures related to healthcare administration theories and practices.
• Integrate healthcare administration theories, principles and practices for future application.
• Systematically apply communication, technical, analytical knowledge and critical thinking skills to administrative and clinical healthcare problem-solving.
• Evaluate the effectiveness of planning, development and implementation of healthcare administrative solutions.
• Design and create solutions to address societal, cultural and environmental healthcare issues.

Whether you’re looking to advance your career or change roles, an MHA can be a path to achieving your goals. However, a master’s degree is a significant undertaking. Even online and flexible degree options require time, dedication and hard work to excel.

Salary Expectations for MHA Graduates

While many people are motivated by the high earning potential of a career in healthcare administration, there’s no simple answer for how much you can expect to make. While there’s no one-size-fits-all salary, let’s take a look at some of the overarching data for graduates of MHA programs.

Factors Influencing Earning Potential

Healthcare administrator is an umbrella term for a vast number of careers. Therefore, earning your Master of Healthcare Administration (MHA) is only one piece of the puzzle when it comes to understanding salary expectations. Here are some of the other factors that will contribute to how much you can make with an MHA degree.

Healthcare Setting and Size of Practice

An MHA is a versatile degree that provides a broad base of knowledge, preparing you to work in a variety of settings. Depending on your career aspirations, you may want to work in the public, private or government sector. Here are some more specific examples of settings in which healthcare administrators work:

• Private and group medical practices: Ranging from individual family practices to large physicians collaboratives.
• Public health organizations: Examples include the Centers for Disease Control (CDC), the World Health Organization or state health agencies and departments.
• Nonprofits: Including international aid organizations and advocacy groups who do everything from improving public health standards to combatting crises around the world.
• Hospitals and hospital systems: Ranging from for-profit to nonprofit and small private hospitals to large public hospital systems.
• Government agencies: Like the Food and Drug Administration (FDA), Medicare and Medicaid Services or Veterans Affairs.
• Pharmaceutical and device manufacturers: Companies that develop new medical equipment and treatments for a range of illnesses, disabilities and health challenges.

Not only will your chosen sector influence your salary, the size of the organization and its resources will also be a factor. With smaller organizations often come smaller budgets, and for-profit companies may overshadow their nonprofit peers when it comes to offering higher salaries. However, you must also weigh the non-monetary aspects of your job and the rewards that come with it in addition to considering financial compensation.