Whether you’re in a cubicle and hoping to advance to the C-suite or planning an entirely new career in an exciting field, a healthcare administration program could be the key ingredient in the recipe for your career success.
Many students are reluctant to return to school because of concerns about cost. But the cost of an MBA varies greatly from program to program, and the return on your investment is both immediate and immense. Your total compensation could increase by tens of thousands of dollars, potentially enabling you to repay your student loans almost immediately.
In May 2021, the median annual wage for medical and health services managers was $101,340. And with projected growth of 28% between 2021 and 2031, that figure is likely to grow — and possibly even multiply.
If you’re considering an MBA in Healthcare Administration, here’s everything you need to know to guide your choice.
Here are the most frequently asked questions about our MBA in Healthcare Administration program and how returning to school as an adult can affect your life:
It’s never too late to go back to school. But the sooner you return, the higher your earning potential will be since you’ll have more years left in your career. Even later in your career, an MBA lends significant value and can help you capitalize on the expertise and wisdom you’ve already accumulated. Learn why going back to school at any age can be a great decision.
MBA programs are competitive because they offer incredible value. It’s important to follow the application process and assess the requirements for getting into each school.
Strong schools have program directors, advisors and enrollment counselors who can help you. And at SNU, we cater to adult learners, so we work to expedite the admission and enrollment timeline. We also understand that your grades or test scores might not be an accurate reflection of your potential, so we work with applicants to help them gain acceptance.
You don’t need work experience in business or healthcare to pursue an MBA in Healthcare Administration. However, work experience can help in at least two ways. First, it may help you access more opportunities when you graduate. It may also make you a more attractive candidate, especially if you apply to a competitive program.
Every program is different. In most cases, there’s no specific minimum GPA, but the higher your GPA is, the better. At many schools, admissions counselors prefer applicants with a GPA above 3.0. At the most competitive schools, the requirements may be higher. Each application is different, though and work experience, volunteer work and other factors that make you stand out can help you gain admission.
Online degree programs are a great option for busy working professionals. In fact, some employers prefer them because they allow you to continue working full time while attending school. If you attend an accredited brick-and-mortar institution, you’ll get the same degree whether you attend online or in person. This means your degree will have the same value, and employers may not even realize you attended online.
This depends on your lifestyle and where you go to school! It’s no secret that juggling work, school and a family can be challenging. But if you choose a school that caters to working professionals and adults, you’ll have lots of options for preserving work-education-life balance. SNU offers flexible learning options and a campus culture that treats you as a whole person, not just a student. You can attend class online or in person and continue working, spending time with your kids or both.
Demand for MBA graduates generally is increasing, and demand for healthcare administrators is skyrocketing. The Bureau of Labor Statistics projects a 28% growth in careers in healthcare administration between 2021 and 2031. This offers immense job security as well as the chance to rapidly increase your earnings.
A number of degree paths may be good alternatives, depending on your career goals and plans. Some examples include:
While both degree programs can help you climb the healthcare corporate ladder, the focus is slightly different. A Master’s of Health Administration focuses on the knowledge and skills necessary to serve as a healthcare administrator, while an MBA focuses specifically on business and management issues in healthcare.
Healthcare is a rapidly growing field, with numerous health systems reporting shortages of medical providers and administrators. Hospitals, medical clinics, teaching facilities and other health systems need innovative, creative administrators to lead their institutions through the challenges of the 21st century. A healthcare administration program equips you to improve healthcare, advocate for patients and doctors, and improve your own life.
Some of the myriad benefits of this career path include:
A healthcare administration program opens access to a wide range of career paths. In fact, many graduates change careers several times throughout their working lives. Others enjoy a long tenure at a beloved company. There’s no right path except the right path for you.
Here are some of the options you might consider:
SNU caters to busy working adults with complicated lives. We understand that you’re already juggling a lot. We see education as another piece of the puzzle — not something that should take up your entire life. That’s why we make applying, enrolling and taking classes easy.
Some highlights of our MBA healthcare administration program include:
We’re here for you, and we know we can help you succeed. Ready to learn more? Check out our free guide, “What to Expect as an SNU Professional and Graduate Studies Student.”