MHA (Masters in Health Care Administration) Average Salary
Not everyone working in the health care field works as a doctor or nurse. Health care administration is a growing field with a high demand for qualified worked with their master’s degrees. While you can start working in the health administration field with just an associate’s degree or bachelor’s degree, getting your master’s degree means that you are able to apply for higher-level jobs that come complete with not only more responsibility, but also larger paychecks.
What kind of average salary can you expect if you have your master’s in health care administration? That depends on a number of factors, including the job title you eventually take. Here’s a look at some of the average salaries for jobs in this field:
- Chief Executive Officer (CEO): $180,000
- Chief Operating Officer (COO): $128,380
- Practice Administrator: $80,000
- Hospital Administrator: $77,195
- Healthcare Consultant: $70,839
In addition, when you have your MHA, you’ll often qualify for jobs with better benefits. For example, according to Payscale.com, CEOs average $22,500 in annual bonuses, on top of their salaries. Even in other jobs in the health administration field, you can expect to receive thousands of dollars in bonuses, as well as other benefits like better health and life insurance, more paid vacation days, retirement plans, and more. So, all of these combine together to mean that you’ll earn a lot more money every year than if you just have your bachelor’s degree.
Your exact salary also depends where you work. According to studies, you’ll earn the most money if you have a MHA by working for a foundation, federal government department, or private practice. Where you live in the United States also makes a difference in your salary. The top states for all administrators in the health care field are as follows, according to the US Bureau of Labor Statistics:
- Washington: $109,570
- Vermont: $107,810
- New York: $105,010
- Massachusetts: $104,520
- Rhode Island: $103,830
By living in a city, you can also often earn more money. The top metropolitan areas in terms of annual wage for health administrators are as follows:
- Salinas, California: $131,500
- Lawrence – Methuen – Salem, Massachusetts/New Hampshire: $126,860
- Panama City – Lynn Haven, Florida: $125,580
- Burlington – South Burlington, Vermont: $123,290
- Seattle – Bellevue – Everett, Washington: $118,680
However, with living in a city, your cost of living will also be higher, so you might make more money, relatively, by living in a more rural area, even if the salary you’re offered is lower.
In any case, your average salary as an administrator in the health care world will only increase if you go back to school to get your master’s degree. With online programs, you can get your degree as you continue to work, as well as save money on your education. This is a great way to qualify for better jobs, even if you don’t have the ability to become a full-time student currently.