Is a Master’s Degree in Healthcare Administration Worth It?
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Credit: skynesher / E+ / Getty ImagesThe demand for highly qualified healthcare leaders and administrators continues to grow. These professionals work behind the scenes to ensure the efficient delivery of services at medical and healthcare facilities. You typically need a master’s degree in healthcare administration (MHA) to advance your career in healthcare leadership. This guide can help you decide whether an MHA degree is right for you.
Getting Your Master’s Degree in Healthcare Administration: What to Know
The Bureau of Labor Statistics (BLS) projects that healthcare manager jobs will dramatically increase by 29% between 2023 and 2033. This explosive job growth far exceeds the 4% national average for all occupations.
While employers will require only a bachelor’s degree for some positions, a master’s degree in healthcare administration can lead to career advancement, more job opportunities, and higher pay.
You can earn a master’s degree in healthcare administration in 12-18 months. The length of your program will depend on whether you enroll part-time or full-time.
What to Expect in an MHA Curriculum
An MHA program provides advanced training in management, operations, and finance specifically for the healthcare environment. Common undergraduate majors for medical and health services managers include business administration, public health, and healthcare administration.
The MHA curriculum requires 36-60 credits covering topics such as financial management, health economics, strategic planning, HR management, and healthcare law and policy. Some programs allow students to build hands-on experience through residencies and practicums at healthcare facilities. MHA students develop skills in:
- Effectively leading teams
- Big-picture thinking and strategic planning
- Problem solving and communication
- Quality improvement in healthcare delivery services
- Financial stewardship
Programmatic accreditation is important to ensure that an MHA meets industry standards. The Commission for Accreditation of Healthcare Management Education is the nationally recognized programmatic accreditor for MHA and other healthcare management programs.
MHA Salary and Career Outlook
Healthcare administration may appeal to leadership-minded professionals seeking career flexibility in a high-paying field.
Medical and health services managers earned a median annual salary of $117,960 in 2024, according to the BLS. The industry employed 562,700 medical and health services managers as of 2023, a figure that is projected to jump to 723,300 in 2033.
About 30% of these healthcare leaders work in hospitals, with the rest working in physicians’ offices, nursing and residential care facilities, government agencies, and outpatient care centers.
Other possible career paths for MHA degree-holders include:
- Chief Operations Officer
- Finance manager
- Hospital administrator
- Clinical informatics manager
- Administrative services manager
- HR manager
- Risk and compliance manager
Explore some careers, job growth, and earnings potential for MHA holders.
Medical and Health Services Manager
Medical and health services managers plan and coordinate the business operations of healthcare providers.
- Average Salary: $117,960
- Job Growth: 29%
Administrative Services Manager
These professionals ensure that organizations run smoothly and efficiently by supervising staff and overseeing policies.
- Median Salary: $106,880
- Job Growth: 6%
Human Resources Manager
HR managers oversee administrative operations and strategic planning for healthcare organizations, including the recruitment, hiring, and training of new staff.
- Median Salary: $140,030
- Job Growth: 6%
Finance Manager
Finance managers guide the budgeting, financial operations, and investment activities of healthcare facilities and other organizations.
- Average Salary: $161,700
- Job Growth: 17%
Source: Bureau of Labor Statistics, Payscale
Earnings Potential Is on the Rise for This Industry
The nation’s growing healthcare industry is driven largely by an aging population in need of care. Employers often pay a premium for highly qualified healthcare administrators with experience.
While the lowest 10% of medical and health services managers earned less than $69,680 in 2024, the highest 10% earned more than $219,080. Earnings depend on various factors, such as experience, education, and location.
The Bottom Line: Is a Master’s Degree in Healthcare Administration Worth It?
Earning a master’s degree in healthcare administration can be a good investment based on potential earnings, career advancement, and job growth. But an MHA degree may not be the right move for everyone.
You’ll have to consider factors such as the cost of tuition, the 12-24-month time commitment to earn an MHA, and your long-term goals. Plus, you should have a desire to work in the healthcare field with all its complexities and other unknowns.
Is a Master’s Degree in Healthcare Administration Worth It? FAQ
Healthcare administration can be a rewarding career with earnings and job growth potential far above the national average for all occupations. Unlike other business degrees, an MHA provides specialized healthcare knowledge and leadership preparation valued by employers.
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