Masters in Health Care Average Salary
Are you assured of a higher salary if you pursue a master’s degree in health care? The answer to that question would depend on your past experiences and education, your choice of specialization and your goals. No matter if you are a certified RN or a computer technician, your objectives and your experience count for your hopes in a pay bump upon graduation.For instance, according to Herzing University online, the median income for medical and health services careers in May 2007 was $84,980. The lowest paid 25% earned $59,910 or less while the highest paid 25% earned above $99,680. If those figures represent your hopes, then you may consider achieving your advanced degree.
But, other considerations include your specialty as a health care administrator. For instance gastroenterologists may earn $70,474 annually while a person who specializes in cardiology may earn just $7,000 per year more. However, the cardiologist represents the high end of the scale. The low end is represented by family practice.
You may not want to enter administrative positions, however; therefore your search for a salary upon graduation would depend both upon salary and location. The U.S. Department of Labor’s Bureau of Labor Statistics can help answer your questions if you know the field you wish to enter.
But, the Bureau of Labor Statistics site also includes general information for those in healthcare practitioner and technical occupations. Without note to whether the numbers here reflect a higher degree or not, the median annual wage for this working group is at $56,580 per year, with the highest 90 percentile earning $117,670 per year. This last salary computes to $56.57 per hour.
Take a look at the list of health care professions at that last link and pick one that seems to suit you. For instance, the occupational therapist option also is listed at the Bureau of Labor Statistics site, and a look at that specific occupation provides more detailed information.
For the occupational therapist, employment is expected to grow much faster than average and job opportunities should be good, especially for those therapists who focus on elderly populations. Median annual occupational therapist earnings were $60,470 in May 2006. The The lowest 10 percent earned less than $40,840, and the highest 10 percent earned more than $89,450. Median annual earnings in the industries employing the largest numbers of occupational therapists in May 2006 were:
- Home health care services – $67,600
- Nursing care facilities – $64,750
- Offices of physical, occupational and speech therapists, and audiologists – $62,290
- General medical and surgical hospitals – $61,610
- Elementary and secondary schools – $54,260
As you can see above, you can determine the numbers for just about any health care field at the Bureau of Labor Statistics to determine whether an advanced degree in your field of specialty would be worth just two more years in college. You may learn that those two years may mean the difference between $26,000 per year and $54,000 per year, depending upon your specialty, your location and the facility where you choose to work. But, a higher salary can hinge on that higher degree, so take time to consider completing that degree now with a flexible online degree option.
