What Are the Highest-Paying Master’s Degrees in Healthcare?

Quick Highlights:

• Healthcare master’s degrees can lead to high-paying careers.
• Healthcare jobs are growing, with expected increases by 2032 according to the Bureau of Labor Statistics.
• Research ROI and consider non-monetary benefits like job stability.
• Choose accredited programs with good networking opportunities.

If you are looking for healthcare master’s degrees that offer a high return on investment (ROI), you’re in the right place. Healthcare programs can lead to well-paying careers. By investing in a top-rated degree, you can enhance your career prospects and benefit financially. These programs typically require a commitment of time and resources, but the payoff includes higher salaries, career advancement, and the opportunity to make a significant impact in healthcare. In this article we’ll explore the top paying healthcare master’s degrees and examine what to look for in a quality program.

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Why Choose a Master’s in Healthcare?

From 2022 to 2032, healthcare occupations are expected to grow much faster than the average occupation according to the Bureau of Labor Statistics. In fact, these roles are expected to increase by 1.8 million openings a year. 

Getting the best master’s degrees in healthcare means you can work in a growing field that has many job openings. Additionally, there are many financial benefits associated with healthcare degrees. Your master’s degree can open the door to more specialized roles and higher pay.

Top High-Paying Master’s Degrees in Healthcare

If you are interested in taking the next step in your career, there are many top healthcare master’s programs you can choose from. With high-paying healthcare degrees, you can get a promotion or apply for an entirely different role in the healthcare industry. 

Healthcare Administration

By pursuing a healthcare administration master’s program, you can get a job as an administrator. In the United States, a healthcare administrator earns an average salary of $89,510 per year according to Indeed. Meanwhile, a nursing administration master’s salary is around $86,824 per year based on figures from salary.com. 

Nurse Practitioner

From 2022 to 2032, nurse practitioner roles are expected to increase by 38% according to the Bureau of Labor Statistics. The healthcare salary potential in this field is also quite high. Typically, a nurse practitioner earns $128,490 per year.  

Biotechnology 

While this field may include some of the highest-paying healthcare jobs, the amount you can earn in biotechnology depends on what job you perform. A biotechnology master’s degree salary tends to be between $64,344 and $82,511 per year according to PayScale. In this field, you can work as a:

• laboratory manager
• senior research associate
• research scientist

Pharmaceutical Sciences 

Pharmaceutical science is a field that studies how drugs work in the human body. With a pharmaceutical sciences master’s salary, you’ll typically earn $55,000 and $115,000 per year according to Zippia. Once you have a degree from one of the top healthcare master’s programs, you can get a job as a product developer, medicinal chemist, or forensic scientist.  

Health Informatics 

Health informatics is a degree field that is at the intersection of healthcare and data science. It involves the way healthcare data is stored, analyzed, and used. With a health informatics master’s salary and a job as a health informatics manager, you can expect to earn $141,000 according to American Health Information Management Association (AHIMA) 2019 U.S. Salary Survey Report.

Public Health 

Pursuing a master’s degree in public health can lead to lucrative healthcare careers. You can specialize in global health, epidemiology, and similar fields. Once you are hired in this industry, you can expect to earn between $54,750 and $85,493 per year according to PayScale. 

Evaluating ROI (Return on Investment)

Whether you are interested in healthcare management or a job as an epidemiologist, it’s important to research the ROI of different career fields. ROI is a financial term for analyzing how much extra money you gain from an investment. 

Each degree field has a different ROI level. You can calculate the ROI of your specific degree by figuring out the tuition costs, fees, and other expenses associated with attending school. You should calculate the opportunity cost, which is the work or other activities you would have carried out if you hadn’t been going to school. 

Then, you must determine the size of the salary increase you will get and how much more money you will make over the remainder of your career. With this information, you can figure out how much money you will receive in return for your original investment. 

Career Opportunities and Growth

Many people choose top healthcare master’s programs for lucrative careers, but there are also non-monetary factors to consider. For instance, many healthcare careers are incredibly stable. Even in a recession, people still get sick, so healthcare workers are always needed. 

Other than job stability, an investment in healthcare education is smart because of its growth potential. By 2030, the number of people eligible for Medicare will increase to 69.7 million people. Because people are more likely to need healthcare services as they age, the economy will struggle to find enough healthcare workers. 

If you get high-paying healthcare degrees, you can expect excellent job growth as you progress along your career path. In fact, healthcare jobs are expected to grow by 13% by 2031. 

Additional Considerations

As you review healthcare salary potential, there are a few things you should consider. To get the most out of your degree, you need to find a school with an excellent level of quality, plenty of networking opportunities, and a great location. 

Accreditation and Program Quality: Ultimately, a college degree is only worthwhile if it is accredited. You also need to find a respected institution so that employers view your degree positively.   

Location and Networking Opportunities: By enrolling in the best master’s degrees in healthcare, you can often access new networking opportunities. You may want to attend a school near where you eventually want to work so that your professional network is close by. Additionally, you should look for a geographic location that is close to many jobs in the healthcare sector. 

Explore High-Paying Healthcare Degrees

Through the top healthcare master’s program, you can prepare yourself for a lucrative career. The best master’s degrees in healthcare can help you achieve your professional, personal, and financial goals. 

While high-paying healthcare degrees can lead to a respectable salary, it’s important to research each degree option before signing up for a program. With careful planning, you can achieve the best healthcare salary potential possible.