Nothing is guaranteed, but when you earn a master’s degree in Health Services Administration, you are certainly increasing your chances of earning more money. The United States Department of Labor and Bureau of Labor Statistics (BLS) states that medical and health services managers can earn up to $104,340. This amount applies to working in state, local, and private hospitals and well as government agencies. Administrators working in outpatient medical centers can earn up to $89,480. Those who work in private practices can earn $87,540 while nursing and residential care facilities come in on the lower spectrum earning up to $80,340.
Source: United States Department of Labor Bureau of Labor Statistics Occupational Handbook
As with any occupation, salaries will vary depending on where you live. If you live in or near a large metropolitan area, then you will be increasing your chances of earning a bigger salary as a health services professional. On the other hand, depending on which field you decide to work in could cap off how much you can earn. If you’re living in an area where the cost of living is considerably low, then you should prepare to earn a little less, even for state, local, and private hospitals. At any rate, having a master’s degree in Health Services Administration will certainly increase your chances of getting the top salary available.
Increase Your Job Opportunities
A master’s degree in Health Services Administration can also open doors to more job opportunities. This is most helpful for professionals who may have earned their undergrad in another profession within the healthcare field and have aspirations to pursue an executive career. This does not only apply to healthcare professionals, but also business professionals as well. This could also apply to those who have an associate’s degree in a healthcare-related industry. A master’s degree provides you with more job opportunities because there are certain positions within the healthcare industry that employers will not consider unless the applicant has a master’s degree. When applying for a healthcare executive position, having a master’s degree in Health Services Administration will only increase your chances of getting hired for the job!
Preserve Your Job Position
If you do your job well, then you become an invaluable asset to the company. While it can be said that the healthcare industry is recession proof, that doesn’t stop medical facilities from doing cutbacks from time to time. It happens.
It’s not uncommon for large medical facilities to lay off personnel due to budget cuts. If you want to secure your position, the best thing you can do is because an invaluable employee that your employer cannot afford to lose. One of the ways of doing that is to invest in your education and boost your accolades. You will not only be an executive that your healthcare facility will be proud to have, you’ll also be securing your professional future when and if the time ever comes to downsize.
Make a Difference in the Healthcare Community
When you get your master’s degree in Health Services Administration, depending on what your job title is, you may find yourself in a position to make areal change within the healthcare community. With a master’s degree in Health Services Administration, you have the opportunity to become a healthcare executive, someone who contributes to regulating healthcare policies within his or her facility.
Many people can complain about policies in general, but very few are in a position to do anything about it. As a Healthcare Services Administrative professional, you may find yourself in a position to influence decision makers. You might even become one!
Get Ahead of the Competition!
According to the National Student Clearinghouse Research Center, the total number undergraduates from 2014-15 was 2,804,133. Today, The Hill reported in their headline that “more Americans have college degrees than ever before”. Writer, Reid Wilson reported that over a third of American adults have a four-year college degree according to the United States Census Bureau. What this means for job-seekers looking for an executive position as an administrative healthcare professional is that they need to have some sort of professional accolade that will push them ahead of the competition.
With a master’s degree in Health Services Administration, you are professionally one notch above those who have not achieved this degree academically. This could be a huge advantage for you when it’s time for your employer to promote someone to a senior executive position. Companies usually look internally for any promising candidates. When considering them, they look to their human resource department to conduct a through audit on the candidates’ work ethic and accolades. Having a master’s degree can only increase your chances of rising above the competition.
What Does a Healthcare Administrators and Manager Do?
Watch this video that explains the duties and responsibilities of healthcare administrator and managers as published on the BLS website produced by CareerOneStop.
Health Services Administrative Masters Program at FNU
Health Services Administrative Masters Program at FNU
This 36 credit-hour masters program is designed to offer a stellar education to students who are looking to pursue an executive career in the healthcare profession. With this degree, students will be prepared to work in the public or private sector working in leading positions in the healthcare administration. Students will have a more in-depth understanding of the US Health Care System as well as how finance is managed along with human resources management, with health care law and legislation and much more.
The Health Services Administration master’s degree program at FNU can also be taken 100% online and financial support is available for those who qualify.
To start a rewarding career towards being a decision maker in the healthcare industry, contact an FNU administrator to start the enrollment process today!