This year, 2018, for the first time in the history of the United States, health care outpaced any other industry for jobs placement.
More than ever, the demand for healthcare administration jobs has increased and doesn’t show signs of slowing down either.
For some people, this means considering certain life- and career-altering goals, such as pursuing an MHA.
Some may question the need for a Master’s in Healthcare Administration or wonder what benefits it brings. Today, we’ll take a look at a few of the primary benefits and rewards of starting an MHA program.
#1. Earn More Money
Money isn’t everything.
We’ve been told that time and again, and in many ways, it remains true. Still, money is an integral part of our day-to-day life and anyone who’s serious about furthering their career usually has it on their mind.
And speaking of money, one reason aspiring healthcare administrators might avoid an MHA program is the cost. Between tuition, books, potential room and board, and any other expenses, some people out there don’t see it as a worthwhile investment.
The good news is that an MHA degree can easily pay for itself.
For those who are looking to earn more money on their MHA career path, administration jobs with an MHA degree earn a salary between $82,000 and $117,000. The median is usually over $98,000 (and that’s possibly only with a Bachelor’s).
#2. Jumpstart Your Advancement
In any career path, it’s possible to hit a wall (or the “glass ceiling,” so to speak).
At some point, it doesn’t matter how well you’re doing, who you know, or where you are. You may find yourself on a plateau with no way to push forward.
At least for those in healthcare administration jobs, it often has to do with education. A majority of companies in the healthcare industry require an MHA degree at some point.
Many on the healthcare career path could even find themselves at risk of losing their job if not for a Master’s in Healthcare Administration.
#3. Expand Your Horizons (And Skill Set)
Of all the master’s programs available, an MHA possibly has one of the more diverse ranges of skill sets. Between marketing, accounting, and management you’ll be learning a lot more than what you probably gained from your bachelor’s program.
Skills, such as organization, research, and leadership, are all covered in detail and lead to you becoming a more well-rounded individual in the end.
This diverse set of skills allows you to take on more roles once you finish your degree. It doesn’t matter if you’re looking at a small, specialized practice or a giant hospital in a metropolitan area. Your options and choices will greatly increase.
This also gives you flexibility in your future. Sometimes, people’s lives change–and their career paths, too. With such a large set of desirable proficiencies, you’ll find you’ll be able to change roles easily and on the fly.
#4. Make Yourself Desirable
Employment goes two ways.
On one hand, you need a job to earn a living and make money to pay your bills and meet your basic needs. On the other hand, employers, organizations, and companies need to fill roles. And ideally, they’re going to want to fill those roles with the best, most qualified people possible.
Not only do many jobs in the healthcare industry require an MHA degree, but they’re also going to look more favorably upon it in the first place.
Regardless of whether the degree is a requirement or not for a position, employers are going to notice resumes with an MHA.
Not everyone is as willing to pursue higher education as others. And some with less than an MHA may still have a lot of the necessary skills and talents for the job, but on paper, they may simply not stand out. When someone takes the initiative to further their career path with a master’s degree, that act alone reflects well in the job-seeking process.
Also, we’ve already covered the healthcare industry’s growth. Jobs are more plentiful than ever and it looks like it will continue that way for at least another decade.
Why is that, though? One very big factor is that the U.S. population is aging (and fast). It is projected that nearly 20 percent of the population will be older than 65 by 2050.
With an aging population comes an increased demand for healthcare, and therefore, healthcare workers and positions.
While this is good for anyone involved in the health industry, it’s also could for those on an MHA career path.
#5. Make an Impact
Finally, in the pursuit of an MHA degree, one can expect to make more of an impact with their position.
Money, job acquisition, and career advancement are–of course–very important. But what about making a difference?
As we’ve already said, money isn’t necessarily everything. One of the greatest joys of an MHA program is a larger sense of responsibility and the opportunity to make a change.
Healthcare administrators are vital players in the grand scheme of the health industry. Doctors and nurses help people, but they can’t do their job without quality administrators behind them.
Not only do administrators help doctors do what they do best, but they can also help change how the system applies technology, uses finances, and implements standards.
It’s a highly esteemed and respected position with a lot of responsibility and power. And while other healthcare professionals will rely on your abilities and know-how, families and people everywhere will directly benefit from your changes as well.
The Benefits of an MHA Go On
Any decision in life requires the ability to weigh the pros and cons. One needs to understand the benefits to know if it’s a good investment.
When you’re pursuing healthcare administration jobs, an MHA is a valuable investment that directly leads to:
- A larger salary
- Opportunity for advancement
- An increased skill set
- Desirability in the industry
- The ability to effect change
Hopefully, you’ve learned some of the rewards that go into pursuing a Master’s in Healthcare Administration–both financially and personally. If you’d like to know more about what’s available to you, feel free to contact us right away!