If you want to work in the health sector and you want to be a leader, set your goals high and strive to become a hospital CEO. While you know that climbing up the ladder is a must, you may be wondering what formal training is required to take on such an important position. Read on and find out if a Master’s degree is necessary, or if other degrees are acceptable.
Candidates Must Attain an Advanced Degree to Be Considered for Openings
The Chief Executive Officer is the highest ranking position and executive in a hospital facility, and to hold the highest ranking position in any organization you must have an advanced degree. If you already have an undergraduate degree, you will need to set aside time to advance your formal training as you gain experience in Hospital Management and Administration.
While the training requirements can vary from facility to facility and organization to organization, you will need a Master’s in a relevant field to even have the opportunity to interview for a CEO position. There are plenty of different relevant fields of study that you can choose that will help you deal with managing a hospital. Some of the routes that you can take to compete with other graduate degree holders include:
* Master of Business Administration
* Master of Healthcare Administration
* Master of Health Management
* Master of Science in Nursing
* Master of Arts in Medical Management
What Are Some of the Routes Professionals Have Take to Become a CEO?
Your graduate degree will help you secure positions that you will need to gain experience and work your way up to CEO. Prominent CEOs in the healthcare sector have held a variety of different positions in management to fulfill the experience requirements. Some of the routes that CEOs in the field have taken include:
* Holding a position in nurse management
* Performing as a COO in a hospital
* Performing as a CFO in a hospital
* Previous experience in strategic management or executive positions outside of the sector with 3 years of health-related experience.
* 10 to 15 years of experience in Healthcare Administration
Will a Master’s Degree Pay Off?
A majority of CEOs will have more than 10 years of experience in a hospital or medical facility and 3 to 5 years experience as a manager. If you are wondering whether or not you should accumulate tuition and student loan expenses, you should take a minute to review salary ranges of hospital CEOs. CEOs, while they have very stressful jobs, are compensated extraordinarily well. The lower 10 percent earn an average of $118,000 per year, and the upper 10 percent have been reported to earn upwards of $590,000.
As the highest ranking official of the hospital you must have plenty of experience and the minimum of a Master’s degree. Virtually every single prominent hospital CEO has some experience in other lower level positions, and all CEOs have reported that they have worked alongside executive management teams before applying for an open CEO position. Choose a reputable degree program that has prepared today’s most respected CEOs, and get ready to climb.