MBA in Healthcare Management Salary

MBA in Healthcare Management Salary

Earning an online healthcare MBA degree in is the most direct way to become a deeply skilled professional on the path to management-level positions. These avenues are less impacted than clinical and administrative positions, which you might jump into if you were a registered nurse or another entry-level medical staff member.

What Is an MBA in Healthcare Management?

If you’re someone who always puts others first, you probably enjoy leading by example and helping others who look to you for guidance. An online MBA programs in healthcare management could be a natural fit for you because of your leadership skills, business background, and drive to succeed. The growing healthcare industry needs more qualified professionals. Having an MBA in healthcare management can help you stand out in the crowd. A program like this will give graduates the right skills to work as department directors, CEOs, and financial planners for hospitals, nursing homes, and acute care facilities.

What Can You Do With an MBA in Healthcare Management?

Why Should You Get An Online MBA In Healthcare Management?

An online ​MBA in healthcare management is ideal for busy individuals who want to advance their career and move forward, but do not want to take the traditional route of face-to-face classes. It can be personalized to fit your schedule, allowing you to divide your time between professional and academic obligations. For example, you may be working at a hospital or clinic part time and want to build on those skills while still being able to work part time.

While an MBA covers many different subjects — including finance, leadership, marketing, and leadership — many programs offer the opportunity for students to select a specialization.

Individuals in these specialties are prepared to perform specific roles in the industry.

Individuals with this degree earn an average yearly salary between $65,000 and nearly $100,000, as mentioned in the career section above. Also, check our guide on scholarships for business majors and cost of a masters degree here.

Online MBA In Healthcare Management Salary

You can earn a reasonable salary in the administrative healthcare field with a bachelor’s degree, but an MBA qualifies you to earn significantly more.

Graduates of an online MBA in healthcare management can typically expect to earn more than someone with a bachelor’s in healthcare management. According to PayScale, the average annual salary for a graduate with a bachelor’s degree is $44,100, compared to $76,338 for a master’s graduate.

Graduates of a master’s degree in healthcare management program typically experience more opportunities for promotion than someone with a bachelor’s in healthcare management, as leadership roles demand more knowledge and training.

In the table below, we provide an overview of the average annual salaries for two healthcare roles. For one role, an MBA is required and for the other only a bachelor’s degree is necessary. They both perform similar tasks, yet have salary differences of $7,197 between them. Check out our guide on landing a job here.

Comparison Of Average Annual Salary By Occupation And Degree Type

Occupation & Degree TypeAverage Annual Salary
Practice Administrator (MBA)$73,289
Healthcare Administrator (Bachelor’s)$66,092

Professional Organizations For Healthcare Management

Each healthcare management professional is on a path that he or she chooses — in terms of training and education, work settings, and professional affiliations. The field of healthcare management encompasses many different areas of expertise including communications, financial analysis, sales and marketing, human resources, information technology (IT), facility management, and much more.

Healthcare Financial Management AssociationThese organizations offer medical training and education to professionals working in healthcare. This organization provides members with access to a job board and certification opportunities.
The American Health Information Management AssociationThe American Health Information Management Association has more than 100,000 members worldwide and offers training, webinars, and conferences to professionals in the field.
National Association of Healthcare Access ManagementThis organization provides members with conferences, webinars, professional certification, and a conference for patient access professionals. Peers working in scheduling, admissions, patient finances, and guest relations can interact with members.
American College of Healthcare Executives
The American College of Healthcare Executives (ACHE) is a healthcare management institution with a goal to make healthcare safer and more accessible for patients. The association conducts research, offers career guidance and resources, holds leadership positions, and provides continuing education.
American Hospital AssociationAHA provides educational tools for hospital professionals. AHA also keeps members informed on current events and how they relate to healthcare.

FAQs About MBA in Finance Careers