Money isn’t everything, especially compared to the value of a good education. However, it’s worth looking into salary opportunities to figure out the most efficient way to apply your MBA in Health Care Administration. The Bureau of Labor Statistics predicts a 22 percent demand increase for medical and health services managers over the next 10 years. In other words: the world is your oyster. If you’re looking for a place to settle down with this lucrative degree, these four U.S. cities are good places to start.
1. Washington, D.C.
According to Indeed.com, the average MBA in Health Care Administration salary in Washington D.C. is 18 percent higher than that of job postings nationwide. An MBA holder in the city earns an average of $100,000, but reaching the ranking of Hospital CEO can rake in as much as $108,000 per year. Of course, this position also comes with important responsibilities, such as directing, planning, and organizing all of the operations of your company.
2. Boston, Massachusetts
One viable career path for MBA-holders is a Hospital Administrator, which would involve working at a hospital, nursing home or outpatient center. Professionals would essentially work behind-the-scenes to manage the health center by recruiting and hiring physicians, developing budgets, creating policies for patient services, and implementing new medical treatments and equipment. The average annual salary for this position in Boston is $82,000.
3. Providence, Rhode Island
How would you like to be the Chief Financial Officer (CFO) of a hospital in the quaint, burgeoning city of Providence, Rhode Island? A CFO would be responsible for managing the finances of the organization, which involves evaluating risks and planning for expenses. Ideally, you should have excellent skills in business, finance, management and marketing, which an MBA would easily prepare you for. The average salary for this position in Providence is $108,000.
4. New York, New York
They say an apple a day keeps the doctor away, but The Big Apple is known for attracting the nation’s top medical talent. Undertaking the position of a Research and Development Business Manager would put you in charge of the business-related aspects of the health care industry. This includes making budgets, organizing billing, referring to financial regulations, and hiring management staff. Average salary for this position runs anywhere from $99,000- $114,000 in New York City.
Enroll at CCU today and find out how to get your MBA in Health Care Administration.