Getting an advanced degree in any field is a good idea in today’s job market. Even in a field such as medicine, where jobs are in high demand, you could find yourself struggling to win positions over the competition if you only have a bachelor’s degree. Getting a masters in health administration (MHA) can without a doubt help to put your resume at the top of the pile for any healthcare administration job.
For the best chances of being offered a lucrative position, it is important to look at top employers, in terms of how many administrators they hire. As of 2008, the following types of employers hired the most healthcare administrators:
- General Medical and Surgical Hospitals: 96,910 administrative employees
- Offices of Physicians: 23,610 administrative employees
- Nursing Care Facilities: 17,960 administrative employees
- Home Health Care Services: 13,810 administrative employees
- Outpatient Care Centers: 12,030 administrative employees
Annual salary, on average, ranges from $77,050 to $94,090 at these types of employers, though it is important to remember that these numbers reflect all administrative employees, not just those with MHA degrees. With an MHA, you can expect your salary to be on the higher end of the scale.
For some people, salary potential is more important than how many administrators a specific type of healthcare employer hires. If you’re interested in the most bang for your buck (or rather the most buck for your bang), look to the following types of companies:
- Navigation, Measuring, Electromedical, and Control Instruments manufacturing: $135,930
- Electronic Shopping and Mail-Order Hosues: $123,480
- Business, Professional, Labor, Political, and Similar Organizations; $123,460
- Management of Scientific and Technical Consulting Services: $122,610
- Medical Equipment and Supplies Manufacturing: $122,150
Although it is more likely for those with MHA degrees to work in careers where they’re directly management healthcare, all of the above types of employers hire those with master’s degrees in subject matters relating to healthcare.
The top employer for one person may not be the top employer for the next. In addition to looking at salary, you also have to consider benefits packages, bonuses, job responsibility, and fulfillment from your job when you’re job hunting. You’ll always perform better in a job you love, even if you’re making slightly less money. The best employer for you will also be located where you want to live. Currently, the most health administration jobs, regardless of degree, are found in the District of Columbia, New York, Maryland, Iowa, and Oklahoma. If you’re willing to live in a larger city, you’ll likely have more job options that if you live in a more rural area, so that increases your chances of getting more offers, but if you enjoy living in a country setting, taking a high-paying job in the center of a large city may not make sense for you.
Sometimes, the best employer is yourself. One of the top employers in the healthcare industry is you, if you decide to start your own consulting firm. With an MHA and experience in the field, this is definitely an option available to you, and one you should highly consider.