which is for you

MHA vs MBA: The Way to Choose What’s Best for You

Table of contents

Introduction

Health care administration is the field regarded with the administration, supervision, and management of public health systems, health care systems, hospitals, and hospital networks in all sectors.

The MBA program covers many areas of business such as accounting, applied statistics, business communication, business ethics, business law, finance, economics, management, marketing and operations in a very manner most relevant to management analysis and strategy. An MBA may also be useful for those who pursue management careers within the public sector, government and private industry.

These admission requirements are the essential ones for all MBA and MHA programs. While some schools may dismiss some of these conditions, others may additionally insist on a minimum score:

  • GPA
  • Academic Records
  • GMAT / GRE scores
  • Work Experience
  • Bachelor's Degree
  • Letter of Recommendation
  • Personal essay

MHA in details

doctors at a meeting

The Master of Health Administration (MHA) is a master's-level professional degree required for careers in health administration, including leadership in hospitals and other health care organizations, public health infrastructure and consulting. Programs may vary considering the background; although practitioner-model programs can usually be found in medical colleges, health professions, or allied health fields, curricula may be found in colleges of business or public health.

Specialists who work in healthcare administration and management supervise the day-to-day operations of hospitals, doctors' offices, and other health care facilities. They may also work in parallel positions in corporations, nonprofit organizations, or government agencies.

The healthcare industry is expected to grow rapidly in the coming years. The BLS predicts that the number of occupations in the health care sector will grow by 19% between 2014 and 2024, resulting in the creation of roughly 2.3 million new jobs.

MBA in details

According to the American Graduate Management Admission Council (GMAC) and their recent study, 59% of business school graduates receive employment immediately after graduation. Finance and accounting, taxation, services and manufacturing were named as the industries that are most in need of professionals with business education. In addition, according to GMAC, 9 out of 10 graduates believe a business education has allowed them to earn more.

The MBA is currently the most attractive professional degree program in the world. Getting an MBA won’t come cheap. It can range from about $50,000 - $100,000 (at the lower level) to over $200,000 at the top school.

MBA in details

An MBA is only well worth the money, time, and effort if the graduate plans to work in a business-related area, in management, or as a company founder. For those in other enterprises, unless they are in a management or executive position, an MBA degree may be counterproductive. Moreover, not all MBA degrees are devised to be equal.

Is an MBA a decent career option?

In that sense, an MBA is your initiative to a well-off and well-paying career. A management course is taken into account a decent degree, but the catch is that we've hundreds and thousands of business schools, and a few of their credentials are pretty much as good as paper.

Why choose MBA over other Master’s degrees?

According to surveys, most graduates of business schools in the U.S., Europe and Asia agree that during their studies they received:

  1. a full range of necessary knowledge for business. The training also includes a large number of additional courses, each school has its own set of such disciplines - international finance, entrepreneurship, project management, the art of negotiation, etc;
  2. a complete picture of the interaction of key business processes. When you graduate with an MBA, you will see your entire organization functioning as a single system. Many graduates, noting this point, describe it as a "change of mindset.";
  3. useful business contacts (networking). Your classmates and professors will include a great number of practising business professionals, whom you may need to meet more than once. More than half of MBA graduates believe that the contacts acquired are the most significant result of business education.

Do your MHA online

study online

The online MHA program is the ideal alternative for students who want to study at home, especially those who hold other responsibilities, such as full- or part-time jobs or childcare obligations.

Online MHA degree programs range from 32 to 60 credits. If you do the course full-time, you’ll be able to complete one of the online programs within two academic years. Take a look at the schools that offer these programs online:

Can an employer procure your MBA?

team fistbump

Here is a list of companies (in no particular order) that provide tuition compensation for MBAs and place a high value on their tuition benefits:

  1. Apple Inc. - an American multinational technology company provides tuition reimbursement of up to $5,000 per year.
  2. Wells Fargo & Company is an American multinational financial services company and it also provides eligible tuition costs up to $5,000 each year.
  3. Bank of America provides employees with annual tuition assistance of up to $5,250 for professional development.
  4. Intel Corporation is an American multinational corporation and technology company that pays $50,000 per program with no annual cap and offers free tuition.
  5. Deloitte Touche Tohmatsu Limited is a multinational professional services network. These firms lead the list of firms that pay the highest salaries to MBA graduates. Deloitte employees receive full tuition reimbursement after two years with the firm.
  6. Raytheon is a major U.S. defence contractor and industrial corporation with major manufacturing facilities in weapons, military and commercial electronics. It is a frontrunner in tuition assistance reimbursement, and full-time employees are eligible for up to 10,000 per year.
  7. Ford Motor Company - an American multinational automaker - has a tuition assistance program and provides employees with tuition reimbursement of up to 5,000 per year for an MBA.
  8. Chevron Corporation is an American multinational energy corporation. It operates in more than 180 countries. The company offers up to 75% tuition reimbursement for its employees.
  9. Procter & Gamble Company is an American multinational consumer products corporation. The firm provides up to 80% tuition reimbursement with a $40,000 limit.
  10. AT&T Inc. - an American multinational conglomerate. Employees can be reimbursed up to $25,000 for graduate school tuition.
  11. An employee-owned financial organization under the Baird Scholar program of Robert W. Baird & Co. Inc. pays 100% of MBA tuition and book costs if a high-performing employee has excelled in their first few years with the company and demonstrated a commitment to investment banking.
  12. Goldman Sachs Group Inc., the world's largest investment bank. The firm offers MBA scholarships to grad-school business school students who are Hispanic, black or Native American. Those who receive the scholarship receive a cash award of $35,000 in addition to the Summer Associate's salary. If a candidate completes the Summer Associate and accepts a full-time offer, they receive another $40,000 from Goldman Sachs in addition to any full-time bonus.
  13. Credit Suisse Group AG has an MBA scholarship designed for first-year business school students who are female or Hispanic, African-American or Native American. Candidates must be enrolled full-time in the business school program and be eligible for a summer internship in the summer after their first year of business school. The candidates must have a strong interest in a career in investment banking, as well as leadership, academics and their professional lives. They receive a $40,000 scholarship for their first year in business school, as well as a summer internship in investment banking at one of Credit Suisse's U.S. offices. Candidates can also earn another $40,000 for their second year in business school if they complete a summer internship and accept a full-time offer with Credit Suisse.

Conclusion

Who is recommended to give preference to MHA?

  • Managers and owners of medical facilities
  • Entrepreneurs who are planning to open a medical facility
  • Medical facility managers planning to further develop a medical management career
  • Employees in other industries who plan to move into medical management positions

Who is recommended to give preference to MBA?

  • Businessmen who aim to upgrade their skills for business development.
  • Managers who want to improve their managerial skills and aim for networking, new business ideas and an MBA on their business card.
  • Employees in large companies - their training is usually paid for by the company so that the staff is qualified.

And remember that MBA is relevant when you already have accumulated experience, practical cases. It makes sense to get a business education only when you need to solve specific practical problems.

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