Healthcare Management Salary and Career Guide
| 2 Min Read
Healthcare management and healthcare administration are growing career paths enabling industry professionals to leverage their real-life experience to take their careers – and earning power – to the next level. By securing an MBA with a focus in Healthcare Management, you can put your career on track to serve in a variety of leadership roles within healthcare facilities or in healthcare-related businesses.
As the healthcare industry continues to expand, the demand for industry leaders – who can offer skills and insight in both healthcare and business – is expected to spike. If you’re interested in a healthcare management career path, this guide provides an overview of the skills and education requirements that will be needed in the coming years and the steps you can take to get there.
- Detailed research documenting the continued growth of the healthcare industry
- The changing skill sets healthcare management candidates must have
- Traditional and non-traditional leadership roles now available to healthcare management professionals
- And more!
Want to learn more about a career in healthcare management? Download the Complete Guide to Healthcare Management to learn how you can advance in this growing field. Then view this infographic to better understand Healthcare Management Salary Factors.
When you’re ready to take the next step and start working toward an MBA with a Healthcare Management specialization, explore the online Master of Business Administration from Our Lady of the Lake University. Classes start three times each year, and there is no GRE/GMAT requirement to apply. Request more information or call 855-275-1082 to speak with an admissions advisor.
Healthcare Management Salary Factors
Looking to take the next step in your career as a healthcare management professional? Here’s what it takes to land a job in a successful senior position.
Factors That Can Affect Salary
Graduates with an MBA with a concentration in healthcare earn within the top 10% of earnings for management positions in the healthcare industry.
The highest healthcare manager/administrator salaries have been found in the following areas:
- Washington D.C.
- Rhode Island
- New Jersey
- New York
The most commonly yearly salary for a healthcare manager/administrator in these states: $105,000
Salary based on the number of physicians in an organization:
- $150,756 (more than 26)
- $115,000 (6 to 26)
- $89,459 (up to 6)
Daily responsibilities within an organization could include:
- Improve efficiency and quality of service
- Create departmental goals and objectives
- Ensure your facility is compliant with new laws and regulations
- Recruit, train, and supervise staff
- And more!
The salary range for a hospital CEO with 4 years experience versus 20+ years.
- 4 Years: $59,495 – $150,117
- 20+ Years: $115,553 – $245,774
Median Salaries for Healthcare Professionals by Industry
|Industry||Median Annual Wage||% of Industry Employment|
- Lowest 10% Earnings: $55,890
- Median Annual Wage for Healthcare Management Professionals: $92,810
- Highest 10% Earnings: $161,150
Ready to increase your earning potential? Explore the MBA with a Healthcare Management specialization at Our Lady of the Lake University.
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