Jobs for healthcare-oriented Master of Business Administration (MBA) grads are fulfilling and versatile, with many opportunities for advancement. One can earn an excellent salary after completing a specialized program like the online MBA with a Concentration in Healthcare Administration program from Texas A&M University-Corpus Christi (TAMU-CC). The following are five of the top-earning jobs for healthcare MBAs with salary figures gathered from May 2024 ZipRecruiter data.
1. Director of Operations
Primary responsibilities include employee management, improving productivity, research and development. The director of operations helps develop and implement strategies to improve standard operating procedures. The salary range for the director of operations is $34,000 to $179,500. It’s also possible for the director of operations to advance to vice president of operations, with an average salary of $155,780. Another benefit of reaching the vice president level within a healthcare organization is the potential to earn other types of compensation, such as bonuses, profit sharing and commission.
2. Practice Manager
Primary responsibilities include the daily operations of private medical offices or public medical clinics, staffing, scheduling, resolving patients’ complaints, ensuring legal compliance, improving operations and managing financials. The salary for a medical practice manager ranges from $39,500 to $113,000. Career advancement can include promotions to operations director or human resources manager.
3. Executive Director
Primary responsibilities include senior management of organizations and businesses, reducing organizational costs, improving efficiency, operational oversight, leadership and reporting to the chairperson. The executive director also helps the company institute philosophy, monitor the budget and oversee assets. Average salaries for executive directors in medical settings range from $48,000 to $150,000. Career changes may include advancement to office manager, chief operating officer (COO) or vice president of business development.
4. Nursing Home Administrator
Primary responsibilities include managing the residents in the nursing home, overseeing the facility management system, supervising and coordinating all departments, understanding legal regulations, evaluating staff, managing the budget, and training and educating staff members. To work as nursing home administrators, nursing professionals must have licensure and keep their knowledge current through ongoing professional development. The average salary for a licensed nursing home administrator is $122,327. Typical advancement opportunities for nursing home administrators include executive director and other more senior administrative roles.
5. Healthcare Administrator
Primary responsibilities include managing nurses and nursing assistants, training staff, conducting performance reviews and obtaining facility accreditations. Healthcare administrators must have a degree in nursing, healthcare or business. Along with healthcare-specific knowledge, these professionals must know how to conduct market analysis and manage financial operations. The current salary range for healthcare administrators is $32,500 to $239,000.
An MBA Designed for One of the Fastest-growing Occupations
An MBA in healthcare administration can open doors to a variety of career paths. With an online program, a student can earn their degree in the comfort of their own home, according to their own schedule — invaluable benefits for working healthcare professionals.
While this article surveys only five jobs for healthcare MBAs, many more positions are available, such as chief nursing officer (CNO), hospital administrator and other types of medical and health services managers. Plus, the medical and health services manager occupational group (which includes all the above positions) is one of the fastest-growing occupational groups in the country, according to the U.S. Bureau of Labor Statistics (BLS).
The online MBA in Healthcare Administration from TAMU-CC offers both professional and personal growth, which brings stability to the healthcare industry. There will always be a demand for excellent healthcare services. For professionals drawn to helping others live well, an MBA in healthcare administration may be the right choice for rapid, rewarding career advancement.
Learn more about TAMU-CC’s online MBA with a Concentration in Healthcare Administration program.
