MHA vs MBA

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MHA vs MBA

Management has grown to be one of the most sought-after fields of study. Be it the corporate sector, fashion industry, or hospitals, management graduates are always in demand for handling different departments and processes across varied sectors. While MBA graduates mostly fill the vacancies in top business firms, hospitals tend to prefer individuals with higher-level qualifications in Hospital Administration or Healthcare Management such as an MHA degree. Although both degrees can help you land a job in the field of management, it is a good idea to get to know the structure and the career scope of these courses before deciding on which one to pursue. This blog explores the major differences between MHA vs MBA to help you make an informed decision.

Course Name MHA MBA
Full-Form  Master of Hospital Administration Master of Business Administration
Duration 2 Years 1-2 Years
Target Industry Healthcare sector  Management sector 
Eligibility Generally not mandatory for MHA courses. A graduate degree in any stream
Top Specialisations Health Administration General Management, Finance, Hospitality Management, Healthcare Management, IT, etc.
Work experience  A bachelor’s degree in any field is required. Degree holders in medicine, pharmacy, nursing, dentistry, AYUSH, paramedicine, veterinary medicine, or allied fields are given preference. Mandatory in some courses or colleges.
Average Course Fee INR 3-10 lakhs (can be more if pursued abroad) INR 8-25 lakhs (can be more if pursued abroad)
Jobs Drug Safety Associate, Patient Representative Company Manager, Financial Manager
Top Universities University of New Haven, Valparaiso University, Texas State University, Case Western Reserve University, Cornell University, Fordham University, Georgia State University University of Technology Sydney, Rivier UniversityUniversity of Central Lancashire, Cardiff University, Johnson and Wales University, Deakin UniversityCoventry University

What is MHA?

Master of Health Administration is a 2-year postgraduate degree that enables aspiring students to comprehensively acquire the knowledge and proficiency required for building a career in Healthcare Management and Administration. It includes not only the management of health centers but also other types of health organizations and health infrastructure. The MHA course prepares students to chart out plans and steps to counter the endlessly growing challenges in the health sector. Students in this course learn the necessary skills to probe and analyze different issues that can impact the healthcare industry at any point in the future.

What is an MBA?

Master of Business Administration or MBA is a globally recognized management program offered in a wide range of specializations especially interdisciplinary ones like Financial Management, Entrepreneurship, Informational Technology, Fashion Management, to name a few. Owing to the growing specialized MBA courses, the scope of MBA has expanded as it is not just restricted to the business and corporate world only. MBA degrees primarily focus on the core subjects like finance, accounting, marketing, hospitality, and economics. It is one of the top globally recognized master’s degrees in Management with over 2000 different variants on offer!

When it comes to the difference between MHA vs MBA, you can also opt for MBA in Hospital Administration or MBA in Healthcare Management if you aim to pursue a global degree like an MBA with this specialization. The key difference between pursuing a specialized MBA in Healthcare vs MHA is that MBA focuses more on the multifarious aspects of management in the context of the healthcare sector while MHA imparts students with a holistic understanding of the healthcare industry including management, hospital support services, Medical Terminology and Human Physiology, Hospital Environment and Healthcare, BioStat, Hospital Quality Management, Hospital Engineering and Planning, Information Systems Management in Hospitals and so on.

MHA vs MBA: Which one is Better?

When it comes to courses post-graduation, the MBA and MHA are both good options. A candidate who wishes to pursue a job in the healthcare sector should pursue either an MHA or an MBA with a concentration in hospital administration. However, applicants with a medical background might consider the MBA General Management degree. Some medical professionals opt to pursue an MBA after completing their MBBS in order to learn about management in the healthcare sector and pursue leadership positions at leading hospitals or hospital networks. MBA and MHA programs are also useful for any medical practitioner who wants to open his or her own hospital or clinic. The decision between the two courses, and which is superior, can only be made at the individual level. The chart below will assist applicants who are having difficulty selecting between the two courses.

Parameters for judgment  MHA MBA 
Which course is for whom? Candidates with a medical background who are certain about their professional choice are preferred. Candidates from any background who are interested in hospital administration or wish to keep their options open.
Scope  MHA is a considerably more specialized education that equips you with superior abilities and tools to work in a hospital setting. MBA graduates can work in a variety of industries and have a considerably broader area of employment.
Cost of studying  The course price for MHA is lower than that of an MBA, but it is unquestionably more than that of any other MA degree program. Candidates should anticipate a lesser investment in MHA. MBA is an expensive course. Some even call it a money-making degree. If planning to pursue MBA abroad, it can easily cost around 30-40 lakhs on average and even more than that if opting for Ivey League and renowned colleges. In India as well, most MBA colleges have high course fees and other expenses.

MHA vs MBA: Top Universities 

Tabulated below is the list of most renowned and top-ranking universities from around the world for MHA and MBA programs respectively. 

Universities with top MHA programs  QS World University Rankings-2022 Universities with top MBA programs  QS Global MBA Rankings- 2021 
Johns Hopkins University 25 Stanford Graduate School of Business 1
University of North Carolina 100 University of Pennsylvania (Wharton) 2
Harvard University 5 Massachusetts Institute of Technology 3
Georgetown University =248 Harvard University 4
University of Barcelona HEC Paris 5
University of Southern California =112 INSEAD France 6
University of Michigan =23 London Business School 7
University of Washington =85 Columbia University 8
Hofstra University IE Business School 9
Virginia Commonwealth University 701-750 University of California Berkeley 10

MHA vs MBA: Eligibility Criteria

Both of these courses are extremely useful and continuously witness a large number of applicants. If you’re interested in any of these courses and ambitious about building a career in management, it is vital that you keep yourself aware of the different entry requirements for both of these programs. Take a look at the general eligibility prerequisites for MHA vs MBA:

MHA MBA
The minimum qualification is a bachelor’s degree in any relevant field of study. An MBA can be pursued after completing a bachelor’s degree in any field.
Admissions to the MHA course are made directly by the universities either through entrance exams or on the basis of merit. Students who want to pursue the course abroad also need to clear the GRE. There are various entrance exams at the national and international levels that are conducted for admission to MBA programs. These include the CAT and CMAT, GMAT or GRE, amongst others.
Some universities may ask for previous work experience in administrative positions in the healthcare sector though it is not compulsory. Similar to MHA, many business schools and universities prefer applicants with a minimum work experience of 2 years though it is not compulsory.
You will also need to have a valid score in the English proficiency exams like IELTS or TOEFL along with Letters of Recommendation (LOR) and Statement of Purpose (SOP) to secure admission at any university abroad. A valid score in IELTS, TOEFL or any other accepted English proficiency test along with LORs and an SOP is required to pursue an MBA abroad.

Healthcare Management vs Healthcare Administration

As mentioned in the above section of the blog on MHA vs MBA as well, the selection or the choice between an MHA vs MBA is entirely dependent on your future forecasts. You should have a good notion by now whether you want to pursue a career in healthcare or not. However, if that is not the case and you are unsure of what path to take, beginning your MBA courses might lead to a variety of options in the future. Medical and Health Services Management is a developing sector, with a predicted 23% growth over the next five years, according to the Bureau of Labor Statistics. Nevertheless, in general, MBAs and management jobs are expected to increase at a greater rate than the average for all occupations from 2018 to 2028. This expansion will provide around 700,000+ new employment. The establishment of new organizations and the expansion of existing ones are projected to fuel employment growth, requiring more personnel to run these businesses.

MHA vs MBA: Course Curriculum 

It is essential for prospective candidates to have a detailed idea of the course structure of MHA vs MBA to know what they are expected to study in the course.

Since MHA is mostly centered around healthcare administration, its curriculum encompasses the study of varied aspects of hospital management. Some of the major subjects that are part of the MHA course curriculum include the following:

  • Concept of Health and Disease   
  • Hospital Support Services
  • Biomedical Waste Management
  • Financial Management in Healthcare
  • Health services administration
  • Population Health 
  • Professional Development 
  • Managerial Accounting for Health Services 
  • Statistics for Health Management 
  • Management of Healthcare Organizations
  • Health and Health Systems
  • Healthcare Strategy
  • Health Finance
  • Information Technology in Healthcare
  • Innovation of Healthcare Services
  • Healthcare Leadership and Effecting Change
  • Health Care Human Resource Management
  • Principles of Problem Solving in Health Services Organizations
  • Health Economics 
  • Health Finance
  • Quality, Patient Safety, and Performance Improvement

MBA is a comparatively vast field of study and consists of a range of different courses as well as specializations to meet the growing requirements in management, finance, auditing, etc. Some of the main subjects covered in the general MBA syllabus include:

  • Principles of Management
  • Marketing
  • Business Planning
  • Finance Management
  • Business Laws
  • Financial Management
  • Managerial Accounting
  • Digital Marketing 
  • Managerial Economics 
  • Business Economics 
  • Business Laws
  • Entrepreneurship 
  • Strategic Management
  • Brand development
  • Business Communication
  • Consumer Behaviour and Market Research
  • Venture Ideation 
  • Operations Management
  • International Business
  • Sales 
  • Business policy 
  • Taxation 
  • Human Resource Management
  • Organizational Behaviour 

Additionally, an MBA degree can be pursued in different MBA specializations such as:

Career Prospects and Salary 

Both MHA and MBA offer a huge range of opportunities for the students. Generally, they are lucrative and offer a financially secure career. Let’s take a look at the various jobs you can opt for after completing these courses:

MHA

As is obvious, MHA is a professional school that specializes in the field of healthcare administration. An MHA degree is ideal for a candidate who wants to work in hospital administration, but it will be of little use if he or she wants to work in any other field. It does, however, have a more specialized course curriculum and so produces students with a greater degree of skill. The following are the most popular job prospects for recruitment after MHA:

  • Medical Records Administration Specialist
  • Health Facilities Surveyor
  • Hospital Administrator
  • Healthcare Analyst
  • Healthcare Auditor
  • Healthcare Consultant
  • Health Services Manager

According to the BLS, the median pay in the area of health administration is presently around $84,000 (INR 62.5 lakhs per annum), with the top 10% earning up to $144,000 (INR 1.07 crore). With an MHA degree, you may earn between $40,000 and $60,000 (INR 29-44 lakhs), in the beginning, depending on your professional path in health administration.

MBA 

MBA is an internationally renowned program that leads to professional prospects in a variety of industries. Candidates with an MBA degree may be a suitable match in a variety of industries. Career options following an MBA degree may vary based on the MBA concentration pursued. Some of the most important employment opportunities for MBA graduates include:

The MBA is a tried-and-true road to a six-figure salary, with many corporate leaders making considerably more. After completion of the MBA course, students are expected to earn around INR 5-10 Lakhs per annum as a starting salary in India. The salary or the income will definitely be fancier if students are planning to pursue their career abroad in countries like the USA, UK, Canada, Australia, New Zealand, and Europe. (INR 15-25 lakhs on average and even more) Having said that the salary is also believed to get increased with respect to the number of work experience and required skills in the industry (Upto INR 60 lakhs per annum). Also, the median salary in the field of health administration currently is $99,000 (INR 73,68,322).

FAQs

Is a MHA degree worth it?

Is it worthwhile to pursue an MHA degree? Yes, for many students, an MHA is worthwhile. The Bureau of Labor Statistics forecasts 5% employment growth in management occupations over the next ten years, which is faster than the overall average.

What is an MHA degree salary?

In the USA, the average Master’s in Healthcare Administration income is $133,040 per year or $63.96 per hour.

Is MBA in healthcare administration worth it?

A master’s degree in healthcare administration is unquestionably worthwhile. A graduate degree in health administration is connected with greater opportunities and earnings potential.

What is an MHA degree good for?

A master of health administration (MHA) degree may set a graduate apart from the rest of the healthcare workforce, making them suitable for higher-paying employment with additional responsibilities. MHA holders may be qualified for positions such as health administrator, health service manager, healthcare manager, and even chief executive officer.

Is healthcare administration a good career?

For individuals looking for hard, meaningful work in a developing area, healthcare administration is a good career option. Healthcare administration is one of the nation’s fastest-growing jobs, with high median pay and plenty of opportunities for individuals seeking to advance professionally.

Thus, while choosing between MHA vs MBA, you must consider the field that you are most interested in as well as the career goals you aim to achieve after completing your master’s. If you are planning to pursue your MBA or any other master’s degree abroad but unsure about the right university, our Leverage Edu experts are here to help you find the best university as per your chosen program and preferences. Sign up for a free session with us today!

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