Hospital Administrator Salary
For Hospital Administrators, yearly average wages total $90K annually. Total cash earnings of Hospital Administrators range from $47K on the low end to $176K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $26K and $17K, respectively. Career length is the biggest factor affecting pay for this group, followed by geography. Medical benefits are awarded to nearly all, and a strong majority earn dental coverage. Job satisfaction for Hospital Administrators is high. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 53 percent.
Job Description for Hospital Administrator
A hospital administrator makes sure that the operations of a hospital are running smoothly. The hospital administration will also oversee financial aspects of the hospital. This may involve overseeing a staff of a few hundred to a few thousand people.Read More...
Creating plans as related to the goals of the hospital is also important, in order to further the vision of the hospital and to expand operations as desired. The hospital administrator will provide employee training for any gaps that are noted when observations are carried out. When staff members are not performing up to established standards, the administrator may have to make immediate corrections or schedule a performance review. The administrator may also have to carry out various human resources duties, such as payroll and hiring. The administrator may have a budget that needs to be adhered to, so it is important to make sure that funds are allocated correctly. Cost efficient materials and operations should be utilized, without sacrificing quality. The administrator should make sure that all operations are carried out within the scope of the company’s vision and in compliance with all local and federal laws.
Since this is a management position, many years of experience in the healthcare field may be required. Usually a bachelor’s degree or a master’s degree is necessary. This job involves working with outside parties, and it may be necessary to work directly with customers. Therefore, strong customer service skills are important. Computer proficiency is important, in order to be able to communicate, create reports, and perform various research.
Hospital Administrator Tasks
- Manage daily operations of a hospital and supervise staff.
- Set budget goals and costs for service, and direct fundraising and fees for special cases.
- Liaise with external entities like regulatory bodies, the press, the community, and scientists.
- Direct and coordinate departments to formulate specific goals and to reach organization-wide goals.
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Pay by Experience Level for Hospital Administrator
Median of all compensation (including tips, bonus, and overtime) by years of experience.
The average worker who claims fewer than five years of experience earns around $74K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $98K. After working for 10 to 20 years, Hospital Administrators make a median salary of $98K. More than 20 years of experience seem related to solid financial gains; veterans in this group report earning a median of $124K.