Posted on July 8th, 2021
The majority of the nurses looking to extend their education have either a nurse practitioner or CRNA in their minds. However, a Master of Business Administration (MBA) can also be a good degree option. Surprised this is the reason: you can easily make a higher income and also break into the business side of nursing.
If these two doesn’t convince you, here are the other 8 reasons why getting an MBA is beneficial for nurses.
Getting exhausted at the bedside is one of the main reasons why most RNs wish to expand their nursing education.
If you have thoughts such as the below, then it is time you consider enrolling for an MBA degree.
I love being a nurse but, fatigue is taking on me
I love a nurse career but wish to explore my other talents or
I have ideas that can help hospitals and healthcare
If you have the above thoughts
By getting an MBA degree, you will do justice to such thoughts and escape bedside troubles. Besides, you can also improve your earnings. Moreover, getting promoted to administrative roles in the healthcare industry will not happen without an MBA degree.
If you are planning to give it a try in the healthcare business, then this degree will surely help, alongside if you have plans to get into a few types of leadership positions in healthcare, then learning about the business know-how is the only way out. Besides, an MBA will make you the top contender if there are any administration positions.
A BSN alongside an MBA will pace your career and, you can use your clinical skills and business prowess.
For your information, MBA with clinical experience will also open doors for new career opportunities such as nursing informatics, hospital administration, pharma and medical equipment marketing and sales. There are also openings in the government sector where you will play the role of advisor.
According to many nurses, the worst side of the healthcare industry is, seeing patients as numbers and not humans. It can easily be downplayed when you take up the administration and business reigns of hospitals. As a nurse, you can better understand the problems of patients and deal with them with humanity which further amplifies the business. More than this, as a nurse, you can engineer solutions that suit the needs of administration and patients.
Even though an advanced qualification is not always mandatory to step into every nurse administrator role, it is better to have this degree. These days many reputed hospitals are asking for it. In fact, this degree will cement the fact that you also mastered administration skills along with clinical skills.
If you need a higher income, then having an MBA degree makes much more sense.
A Registered Nurse in the US makes about $73,300 per year or $35.24 per hour and, you can significantly increase this with an MBA. On the other hand, a nurse administrator easily makes about $100,980 per year or $48.55 per hour and, this is nearly $27,680 higher per annum than what registered nurses make.
Payscale noted that the nursing administrators easily earn about $121,800 or more based on the location where they live.
The job outlook is also good and stands at 32% from 2019-2029.
Nurses having an MBA can easily expand job prospects and marketability. You can reach executive positions if you have this degree. More than all getting into C-Suite positions is much easier with an MBA degree. You also have chances for other high roles like a nurse manager, healthcare manager, nurse administrator, director of nursing and others.
MBA doesn’t need your full-time presence in the college and, you can study while you work as a nurse. Many universities offer you both part-time and full-time options to pursue this degree. As such, you can balance your work and studies.
Sounds interesting, is not it? So, check out the programs or universities that offer MBA according to your convenience and make a step towards augmenting your position in the healthcare industry if you wish to.
Tags: nurse programs, nurse career, nurse course, benefits of MBA for nurses