Hospital administration jobs are usually well sought after, as the salaries are very competitive and the growth in demand ensures a long and successful career full of opportunities. Not surprisingly, senior administrative positions that require a fair amount of work experience and superior education are also among the highest paying hospital jobs. The following are the top 7 hospital administration jobs by salary.
#1 Chief Nursing Officer (CNO)
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A chief nursing officer can make in average $108,916 per annum, with the typical salary ranging from $77,437 to $178,676. Most CNOs will start as a registered nurse working within a hospital, and be promoted through the ranks towards leadership roles. This also comes with higher requirements in terms of education: while a registered nurse can get by with a BSc in Nursing, executive level positions require at the very least a Master of Science in Nursing as standard. Chief Nursing Officers are in charge of the entire nursing system of a hospital: ensuring patient-care standards are meet, deciding on nursing staffing needs and best practices, managing nursing budgets, plan patient services, establishing nursing policies and procedures, etc… They usually report to the CEO of the Hospital, or the executive director.
#2 Healthcare IT Director
[wp_ad_camp_1]A healthcare IT director can expect to earn between $56,723 and $172,132 per year. In average this position earns $101,080 per annum, but as the complexity of IT systems on hospitals and medical organizations increase the salary projections for this kind of role are pretty good. Their job is to provide direction to their organization in anything regarding information technology, from choosing the right software to vetting external technology providers and third-party services. They are usually heavily involved in ensuring the hospital passes regular security audits and performs performance reviews of costs vs productivity in order to reduce the former and increase the latter. This is a very senior position, which often starts as some form of software engineer or systems administrator. Some start working for the company as healthcare information technicians, and progress from there, while others take a more management oriented path and move upwards from Project Manager. If you are interested in this kind of positions, a post-graduate degree in information technology and an MBA are very common requirements.
#3 Hospital Administrator
Hospital administrators’ salary ranges from $49,195 to $179,483, with the average salary for a hospital administrator being $96,434 per annum. Their responsibilities include facilitating the smooth operation of the day-to-day hospital activity, coordinating departments and liaising with regulatory bodies, scientific and research entities and the general community. They often have to interact with the press, for example, so great people and speaking skills are essential. This is a high commitment job, which requires extensive academic education often at Master level, though not necessary a degree in Medicine. Part of the salary is often related to bonuses and even profit sharing schemes within the hospital.
#4 Pharmaceutical Project Manager
The average salary for a Pharmaceutical project manager is $81,508 per year, which often includes profit sharing and performance related bonuses. A Pharmaceutical project manager oversees the development of new medical equipment and medicines, and coordinating different groups of people such as engineers, doctors and the technicians and nurses running the equipment or administering the medicine. This role also involves being in close contact with the researching teams at public and private entities. For example, the responsibility of halting a trial that is having too many secondary effects would lay within the Pharmaceutical project manager. Most project managers start their career as researchers, with at least a Bachelor’s degree in Clinical Research or similar. Over time, they can be promoted to leadership positions, particularly after further education in the field of project management and clinical research administration.
#5 Healthcare Insurance Actuary
An actuary working in health insurance can expect to earn between $49,870 and $151,018 per year, with the average salary being just a bit short of 80 grand a year: $79,924. An actuary typically has an advanced degree in mathematics, economics or actuarial science, and is a registered member of the American Academy of Actuaries. They must pass extensive examinations to achieve those credentials, but on the other hand they are one of the best jobs in the United States according to several rankings over the past decade. A Health Insurance Actuary will work for a self-insured medical group or an insurance company, working to minimize the financial risks for the organization and deciding on the adequate pricing for insurance by analyzing risk.
#6 Healthcare Consultant
Healthcare consultants typically earn, on average, $79,925 per annum, but the actual salaries range from $45,570 to $134,650 per annum. Healthcare consultants work with medical facilities, identifying the issues that are preventing the most efficient financial operation within the organization. This could range from inadequate staff costs to developing software or even working with the Health Information Technology department to analyze the data and improve the processes used. Skills vital for this job are Business Development and Business Analysis, but the actual career path to become a healthcare consultant is pretty diverse and includes project managers, nurse case managers or other consultants. Unlike other well paid administrative hospital jobs, this role is often freelance but contracts typically will span large periods over 12 months.
#7 Hospital Human Resources Director
Staffing a hospital is a pretty complex issue, and a hospital human resources directory can expect compensation to average $78,851, though actual pay will vary depending on the responsibilities and size of the employer. The typical salary can range from $46,149 to $132,321 depending on experience. This is a support role that ensures the health organization is compliant with the various employment legislations, has adequate HR programs and policies, and provides their employees with a great place to work in order to reduce staff turnover. Most Hospital HR Directors will have a direct hand recruiting senior positions for the organization.
This salary data has been gather from Payscale, as is current as of August 2014. The career prospects for those working in hospital administration jobs are significantly better than in many other industries, as healthcare becomes more and more complex, but change continuously. As such, we will update this article to keep it current so please bookmark and revisit often!