Selecting and enrolling in a Master’s program is a big decision. According to U.S. census results, in 2021, only 14.4% of all American’s had completed an advanced degree, such as a Master’s degree, professional doctorate (such as a medical or law degree) or doctorate. Although getting an advanced degree is quite challenging, the benefits of a Master’s degree are well-established – according to the Bureau of Labor Statistics, people with a Master’s degree earn an average of 19% more on an annual basis and achieve more career advancement (in a shorter time) than people without a Master’s degree.
However, a Master’s degree goes beyond just career advancement, it is also about personal development. As popular astrophysicist Neil deGrasse Tyson has expressed, while a Bachelor’s degree program involves learning what to think, an advanced degree is more about learning how to discover and question the state of existing knowledge. It just so happens that the critical thinking skills that are learned in a Master’s level degree program are also valuable to employers and can advance your career too, so it’s a win-win! This article will walk you through some key things to consider as you are exploring whether a Master’s degree program is for you.
The curriculum should approach the topic of healthcare management/administration from a variety of different perspectives and should include a mix of academic and practical approaches. You may also want to consider whether the Master’s program considers things just from the perspective of health systems and hospitals or if the perspective of all of the various stakeholders (such as health insurance, pharmaceuticals, DME, post-acute care, and pharmacy to name a few) are represented.
Healthcare Management/Administration Master’s programs are generally found in Colleges (such as a College of Business or a College of Public Health) which are then part of a University. When looking at a Master’s program, an important consideration is whether the Program, College and University are well-known in the healthcare industry.
Various rankings are available to review, but it is important to make sure the rankings are legitimate and are based on quantifiable data as opposed to just being tied to membership in a particular association or are part of a marketing campaign. Ask around and also feel free to speak with alumni of the program you are considering; many programs will connect you with alumni and you can also reach out via LinkedIn.
Although the curriculum and professors are the most important aspects of a Master’s program, the program’s network is a close second. One of the primary benefits of a Master’s program is joining the network of people who are enrolled in the program and who have graduated from the program.
The alumni from the College and the University are also an important part of any Master’s program since this will be valuable as you look to expand your network. This alumni network should be available to you as a resource during your Master’s program (for example, as you look for a topic for your Capstone project) and as a fellow alumnus when you graduate. Leverage your personal/professional/academic networks, this is how you find your next career path!
Although the academic component of a Master’s program is important, a Master’s program should go beyond just lectures, tests and papers – as Neil deGrasse Tyson put it in the quote from the opening paragraph of this article, a Master’s program should be teaching you how to discover and how to apply research and knowledge to identifying and solving problems.
A Master’s program is more about critical thinking rather than just memorizing facts and figures; critical thinking is about challenging existing ideas or concepts by pulling from the existing academic literature and applying it to exiting concepts and thought. Can you construct an argument supporting or refuting a premise? Can you critically analyze and test a thesis? Can you apply conclusions and concepts from academic sources to real-world problem-solving and strategic planning?
A good Master’s program will focus less on tests and quizzes and memorization and more on forcing you to think critically about important topics/problems facing the world (or an industry, such as the healthcare industry). Many Master’s programs do this by offering case studies during classes and also offering a culminating experience, such as a Capstone project which requires students to identify and work towards solving a real-world problem (or at least proposing a solution to a problem).
While cost is certainly an important factor associated with choosing a Master’s program, it should not be the single deciding factor. Like with anything in life, you get what you pay for and a Master’s program is investment in yourself and your career. Financial aid is generally available and many companies offer tuition-reimbursement programs for Master’s degree programs; be sure to check with your company’s HR and/or Talent Development department for details.
Going back to school can be an intimating experience, especially if it has been several years since you were last in a classroom setting (for most people, this is their undergraduate program). Many colleges offering Master’s programs also offer Certificate programs which offer a discrete series of courses (usually three to five courses) on a particular topic. These Certificate programs are usually focused on a specific topic, such as Artificial Intelligence and Healthcare or Patient Experience and allow students to take a few courses, gain expertise in a current topic of importance to their position and career, and walk-away with a credential which they can add to their resume (and LinkedIn profile).
If you are looking at a Certificate program, one thing to ask about is whether courses from the Certificate program are applicable to the full Master’s degree. This is known as “stackability” of courses or credits. If you want to gain experience in a discrete topic or just ease into graduate school, a Certificate program can be an excellent way to do this; however, if you are interested in perhaps earning a full Master’s degree at some point and want to use the credits from the Certificate program, be sure to ask whether the Certificate credits apply to the full degree program and ask how long you have to enroll in the full degree program in order to apply them. Think of the Certificate as a mini-Master’s program, but also something that you can complete and walk-away with a transcriptable, tangible achievement.
One of the primary concerns about going back to school has to do with fitting it into your schedule. Many people pursuing a Master’s degree have fulltime jobs, families (complete with children or parents who may need caregiving), and other responsibilities, so an important question to ask when considering a Master’s program is “how will this fit into my busy life/schedule?” A few things to take into consideration:
If you’re going to participate in a Master’s or other graduate program, you’ll want to take full advantage of all of the resources you have available to you.
Although earning a Master’s degree, or even a graduate Certificate, can be a challenging endeavor, ultimately it is an investment in yourself and it is worth it in the long-run. The old adage ‘it is the journey and not the destination’ is particularly applicable to attending graduate school. Don’t just focus on earning a particular grade or just completing the work; focus on what you are learning on a week-to-week basis and how it applies to your job and the job you want in the future). I always suggest to my students that they keep a journal of their experiences in graduate school – this is also helpful when you sit down to do your Capstone project or your culminating experience.