Nurses in pursuit of the MBA/MSN are fortunate in receiving an advanced nursing degree with a solid foundation in business, all at the same time. This dual degree is a popular option for nurses whose career aspirations include incorporating patient care with hospital management.
Requirements for Earning an MBA/MSN Dual Degree
The average program can be completed after successfully earning between 60 and 78 course credits. The curriculum is structured so core requirements overlap between programs, allowing the student to complete his or her degree in a shorter time than it would take to acquire the degrees separately. Prerequisites include a nursing degree with current RN licensure and a BSN. GRE and/or GMAT scores might also be required, but this requirement varies from institution to institution. The dual degree allows students to earn both degrees simultaneously. You can even complete coursework for your degree online from schools like Kaplan, American Sentinel, Grand Canyon, or the University of Cincinnati. They take such classes as:
- advanced clinicals
Average Salary and Career Data for MBA/MSN Graduates
Career opportunities for the individuals who possess this unique dual degree remain bright. Healthcare employers are keen for those who demonstrate both advanced nursing experience with a strong business background. These candidates rise above the rest as they demonstrate a unique set of knowledge and know-how of many different aspects within a medical facility. According to The Bureau of Labor Statistics (BLS), the median salary for medical and health services managers was $84,270 in 2010, which breaks down to $40.52 per hour. This was the median salary with just a bachelor’s degree. Those with a combined MBA/MSN degree stand to make much higher salaries, as they offer more experience and more education and training. Job growth in this field is expected to increase by 22 percent over the next eight years.
Job Duties for an MBA/MSN Graduate
Graduates can have any number of responsibilities, depending on the job type. If the graduate chooses to remain a clinician that manages a group of nurses, he or she will use their business management skills to supervise, evaluate, and mentor their employees. On the other hand, if the graduate is attracted to healthcare management and becomes an administrator, he or she will use their “on the ground” experiences to provide a much-needed perspective and understanding to the hospital management team. The business skills learned in the MBA courses will be applied toward budgeting, reporting, and planning for the future.