When exploring where a career in healthcare management can take you it is important to analyze all of your options, especially in the administrative side of the industry. An administrative career in the healthcare field can be quite a lucrative move and financially pay dividends as well. It can help position you into a role that will challenge you, challenge your leadership skills, and reward you for your efforts. Being in a high level administrative role will allow you to impact so many different people. You will have immediate impacts on the infrastructure of your organization, the development of your employees, and allow for you to impact patient care.
But how can you attain one of these high level positions in the healthcare field? It won’t happen overnight, as it takes years of planning, credentialing, and experience to achieve these roles. It will take usually a Master’s degree or higher educationally, coupled with years of experience in the field. Roles like these are usually a reward for all your hard work and paying your dues in the field. But what roles exactly are the best paying in the field?
- Hospital CEO– The Bureau of Labor and Statistics explains that even in modest settings as a mere General/Surgical Hospital Administrator, the averages come to well over $100k a year.” (eCareers, 2013)
- Chief Nursing Officers– The average salary though is just under $125,000 a year. (Payscale, 2016) According to research the more urban areas of the country do pay higher than the rural areas. Areas like New York City, Los Angeles, Miami, and Chicago offer the highest pay rates. Typically these cities have the budgets and the larger facility which will allow for higher pay for CNOs.
- Research and Development Careers-. According to Salary.com these positions pay really well also, with the average salary around $128,000 a year. Some positions depending on tenure and experience can even pay up to $163,000 per year!
- Chief Technology Officers– The average national salary according to Indeed.com for CTOs is around $107,000 per year.
- Pharmaceuticals Project Managers– According to Payscale.com, the median salary for Pharmaceutical Project Managers is nearly $84,000. But in some areas of the country they make as much as $130,000. There are really some financially rewarding positions in this industry.
So which of these roles is the right fit for you? Perhaps now you know a little more about the financial side of the equation so you can carefully map out the right path. Truth is, all of these are esteemed roles and can allow for you to impact large amounts of people. But don’t let money be the only that is guiding you. First, ask yourself who you want to impact and help. After all, the healthcare field truly is all about helping others.
Dunn, L. (2014, August 18). The Most Important Thing a CEO does. Retrieved October 22, 2016, from http://www.beckershospitalreview.com/hospital-management-administration/the-most-important-thing-a-ceo-does.html
ECareers, H. (2013, May 15). 5 Highest Paid Jobs for Healthcare Administrators. Retrieved October 22, 2016, from https://www.healthecareers.com/article/career/5-highest-paid-jobs-for-healthcare-administrators
Payscale. (2016). Chief Nursing Officer (CNO) Salary. Retrieved November 11, 2016, from http://www.payscale.com/research/US/Job=Chief_Nursing_Officer_(CNO)/Salary
Salary.com. (2016). Research and Development Manager Salaries. Retrieved November 11, 2016, from http://www1.salary.com/Research-and-Development-Manager-salary.html
Indeed.com. (2016). CTO Salary. Retrieved November 11, 2016, from http://www.indeed.com/salary/CTO.html
Payscale.com. (2016). Project Manager, Pharmaceuticals Salary. Retrieved November 11, 2016, from http://www.payscale.com/research/US/Job=Project_Manager,_Pharmaceuticals/Salary