What are the Benefits of Getting an MSN-MBA dual Degree?

by Lauren Abraham

Woman medical admin uses an ipad in clinical setting

Today, there are many unique opportunities for those who want to pursue a career in nursing. In addition to a variety of employment opportunities in the field, there are also many options for nurses when it comes to advancing their education.

Choosing the right online degree program is essential in preparing for a particular career path. Individuals looking to succeed in nursing may benefit from an education that provides additional knowledge in another practice. Education such as earning your Master of Business Administration & Master of Science in Nursing: Nursing Leadership in Health Care Systems could be very beneficial. This MSN-MBA dual degree allows nurses to develop advanced management skills and explore a wide range of opportunities in the industry. Getting a MSN-MBA Dual Degree

Students study a variety of topics, such as nursing leadership and management, leadership theory and application, accounting, economics, operations management and ethics in healthcare settings. The online MSN-MBA dual degree program integrates advanced business theories, such as organizational effectiveness and change management, into the application of nursing practice. In addition, this online degree covers behavioral forces and relationships that have the potential to impact business processes.

At the end of the program, students complete a capstone course in which they put together a practice project proposal that addresses a business problem. Students identify the problem, search literature, propose a solution, develop a plan to implement the solution and evaluate the outcomes. This capstone project combines everything students learn in the program and prepares them for the kind of work they will do in the field.

MSN-MBA Career Outcomes

Because of the integration of advanced healthcare theories and business concepts in the MSN-MBA dual degree program, graduates are equipped to grow healthcare organizations of all kinds successfully. They are prepared to fill entrepreneurial roles and start companies or take on leadership positions in organizations. This dual degree program allows individuals to meet the needs of both their patients and the organization for which they work, making them valuable in the field.

Individuals who complete the program have the opportunity to pursue a career where they can interact with patients while overseeing other nurses. In addition, they can transition into more business-oriented roles working for a large healthcare organization. They may even find success working in the public sector, specializing in advocacy work (“What Can I Do with an MSN and an MBA,” 2016).

Some potential careers may include:

• Chief Nursing Officer

• Medical and Health Services Manager

• Clinical Manager

• Nursing Home Manager

• Director of Nursing

• Health Information Manager

• Vice President of Patient Services

• Chief Executive Officer.

Benefits of an MSN

An MSN could open new career doors.

Some nursing specializations require a master’s degree and certain positions may give preference to those who have their MSN as well. A few of the highest paying careers for MSN graduates include Certified Registered Nurse Anesthetist, Nurse Consultant, Medical Administrator roles and advanced nurse practitioners.

There is a possibility of a salary increase. 

Some nursing practices that require an MSN offer significantly higher salaries than one an RN earns. The average salary for RNs are around $64,000 and MSN graduates, on average, make $86,000. This pay increase could have the potential to help you a lot in life and be a good motivator to get your MSN.

You’ll learn more about nursing. 

Going back to school to get your MSN will no doubt expose you to different types of learning. You will discover new things and have new experiences that could overall boost your career in the future. You will also gain additional respect in the field from colleagues and other healthcare professionals. Having an MSN shows that you have drive, goals and determination which will impress employers.

You will meet new people. 

Like all programs, you will be able to network with others when you get your MSN. You will be exposed to those in advanced leadership positions or management that could offer you advice and give you knowledge going into the field. These people you may meet could potentially help you get your next job or be pivotal in a career advancement.

In today’s rapidly changing healthcare field, individuals with business and nursing knowledge can find great success. In earning a MSN-MBA dual degree, they can unlock opportunities and positively impact organizations and the lives of their patients.

Grand Canyon University’s College of Nursing and Health Care Professions is committed to developing graduates who provide quality care centered on best evidence to meet the needs of the populations they serve. To learn more about GCU, visit our website.

Written by Lauren Abraham, a junior majoring in communication at GCU.

Reference:

• Best Master of Science in Nursing Degrees. (2020). What can I do with an MSN and an MBA? https://www.bestmasterofscienceinnursing.com/faq/msn-mba/

• Sacred Heart University. (2020). The highest paying career paths for MSN Graduates https://onlineprograms.sacredheart.edu/resource/nursing/highest-paying-career-paths-for-msn-graduates

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