What is the Salary of a Healthcare Administrator?

Healthcare AdministratorIf you want to work in healthcare administration, learning about the average salary of a healthcare administrator is important. When you set aside time to learn about job duties, qualifications, and then average salaries in a specific field, you will develop a better understanding of the position so that you can decide whether or not it is the right fit for you. When you work towards earning a degree to work in the field of healthcare administration, you need to know that this degree will payoff in the form of a good salary and great benefits. Read on and learn more about salaries reported in healthcare administration.

What is the National Average Salary of Healthcare Administrators?

The US Bureau of Labor Statistics is an agency dedicated to projecting demand and calculating average salaries. By reviewing the information reported to the agency from a variety of sources, they can keep job seekers up-to-date with the economy and employment market trends. According to the information reported to the BLS, the average hourly rate earned by Healthcare Administrators is $43 per hour, with the lowest 10 percent earning $26 and the highest 10 percent earning $72. As you can see, there is a dramatic difference between the lower and upper ranges. To understand why there is such a large gap, you must do more research on salaries and what can affect your earning in healthcare administration.

What Are the Major Factors Affecting Health Administration Salaries?

Your salary as a healthcare administrator will depend on your career level, your level of experience, your geographic region, and the setting that you choose to work in. If you are working in a state with a high cost of living, it is only expected to earn a higher salary than you would in a low-cost region. The pay can be high in some regions where the demand for administrators is high because the demand for care is high. Some of the highest paying states include: New York, California, New Jersey, Rhode Island and Connecticut. Within these cities, some of the best cities to work in are San Jose, Santa Cruz, New York, and Hartford.

The higher your level of experience, the more you will earn. Entry-level administrators will need to work their way up and earn an advanced degree to begin earning the salary that upper level administrators make. A combination of professional experience and advanced education can help you climb up the salary ladder so that you are earning more than the average. Be sure that you choose to earn the right degree when you are trying to advance in administration.

Salary Based on Your Industry

Just because you want to be a healthcare administrator does not mean that you will always work in medical settings like hospitals or nursing care facilities. While a majority of people in this profession work in these medical settings, you may also seek positions with state or federal agencies, computer systems design firms, real estate firms or other professional organizations. The demand and the economic climate in the industry that you are pursuing will dictate how much you could potentially earn.

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You should also consider the benefits that you receive as an employee when you are comparing compensation. These benefits are valuable and can add as much as 30 percent to your salary package. Now that you know the potential salary of a healthcare administrator, you can decide if this is the career for you.