25 Best Online MSN/MBA Dual Degree Programs – 2023
Written By: Brooke Schmidt, RN, BSN
Are you a registered nurse looking for a way to combine your nursing expertise and business mindset to build an upper level, rewarding career? Are you motivated enough to earn two new degrees? If so, an MSN/MBA dual degree program is an excellent way to get ahead and catapult your career.
May be you like the idea of earning a dual degree but do not know where to begin. Perhaps you find yourself wondering, “What are the best online MSN/MBA dual degree programs?" If that sounds like you, this article could be what you need to help you prepare for your next career move. In this article, I will share a list of the 25 best online MSN/MBA dual degree programs for 2023. I will also provide some program information, including the cost of this dual degree, how long it takes to graduate, and more. Continue reading if you want to find answers to all this dual degree offers.
WHAT EXACTLY IS THE GOAL OF AN ONLINE MSN/MBA DUAL DEGREE PROGRAM?
The best online MSN/MBA dual degree programs strive to prepare students for a healthcare leadership and management career. By combining MSN leadership and management courses with advanced classes in business management, students develop a deep understanding of the inner workings of healthcare systems. Students learn to develop and implement important healthcare policies, manage teams of nurses or other healthcare professionals, improve patient care through quality measures, and manage financial considerations that impact healthcare organizations. Successful MSN/MBA graduates understand complex healthcare systems from a clinical and business point of view.
IS AN ONLINE MSN/MBA DUAL DEGREE PROGRAM HARD TO COMPLETE?
Online MSN/MBA dual degree programs provide an accelerated option to earn two degrees simultaneously. Because you must meet the requirements for graduate degrees, the programs can be challenging to complete. You will master rigorous curriculum plans, which may include content and topics for which you have little or no previous experience. Although MSN/MBA dual degree online programs can be challenging, with hard work and dedication, you can develop a plan that works and promotes successful outcomes.
7 MOST IMPORTANT SKILLS AND ABILITIES YOU WILL GAIN IN AN ONLINE MSN/MBA DUAL DEGREE PROGRAM
MSN/MBA dual degree online programs will prepare you with a wealth of knowledge, skills, and abilities to help you become an effective nurse leader and administrator. The seven most important skills and abilities you will gain in this specialized dual degree program include the following.
1. You will learn to identify and solve organizational issues:
Long gone are the days spent focused on individual patient concerns or issues faced by only a few nurses. In MSN/MBA dual degree online programs, you will gain the ability to identify and solve organizational issues on a large system level. Your new ability will help you work towards solutions for large systemic problems to ensure better patient outcomes and improve the working conditions for nurses and other healthcare workers.
2. You will learn to develop strategic financial plans for healthcare systems and organizations:
As a student in one of the best MSN/MBA dual degree online programs, you will gain the skills and ability to understand and apply financial planning strategies to meet a healthcare system's or clinical setting's needs. You will have a foundational knowledge of a working budget, how to manage expenses, and what strategies to implement to ensure everything functions well.
3. You will gain the knowledge and skills needed to lobby for legislative changes designed to promote better patient and organizational outcomes:
Online MSN/MBA dual degree programs will teach you about how legislative issues and policies impact healthcare systems and the delivery of services and provide you with a foundation of knowledge necessary to create and implement new healthcare legislation and policies. In so doing, you can help drive evidence-based practice and improve care for patients and improve working conditions, including staffing ratios and nurse pay.
4. You will develop essential leadership and management skills:
Credentials are only one part of being an effective leader or manager. As a student in an MSN/MBA dual degree online program, you will gain the skills that will garner respect and trust from your employees, peers, and patients. Through didactic learning and hands-on, immersive experiences, you will graduate feeling confident in your ability to lead and manage others.
5. You will learn to implement evidence-based practice to guide sound business decisions:
The best business decisions are backed by science and proven concepts, and online MSN/MBA dual degree programs prepare you with the knowledge and clinical experiences needed to implement EBP in making good decisions. Your clear understanding of evidence-based practices can guide your decision-making, helping you create measurable and objective goals for the company.
6. You will develop the skills necessary for creating organizational budgets and account management:
One of the key skills you need in business administration is the ability to create budgets and manage financial accounts. In MSN/MBA dual degree online programs, you will learn about fiscal management, including methods for creating and implementing budgets and maintaining accounts in an efficient way. Not only is this skill relevant to business, but it is also something you can apply to your personal life and finances.
7. You will develop strong interprofessional collaboration skills:
Success in any career, especially management and administration, requires effective collaboration and communication skills. Online MSN/MBA dual degree programs are designed to teach you effective ways to communicate and collaborate with interdisciplinary teams to promote effective team, organizational, and professional outcomes.
5 MAIN ADVANTAGES OF ONLINE MSN/MBA DUAL DEGREE PROGRAMS
Deciding whether to pursue a new career or earn an advanced degree (or two) is a major life choice. Comparing advantages and disadvantages and getting your questions answered can help you decide which path is right to help you achieve your goals. The following are five main advantages of choosing to further your degree and career through online MSN/MBA dual degree programs.
1. Graduates of MSN/MBA dual degree online programs earn generous incomes!:
One of the greatest advantages of pursuing one of these dual degree programs is you can earn an excellent income. On average, graduates earn more than $140,000 annually. Additionally, many nursing and business executives receive handsome benefits packages, which can be worth tens of thousands of dollars!
2. You will have an advantage over other job applicants:
Graduates of MSN/MBA dual degree online programs have the edge over applicants with only one degree. Your dual degrees, business knowledge, and nursing experience will make you a competitive applicant for many jobs in healthcare and business administration.
3. You can work in nursing, business, or a role that combines both roles:
While your initial intent may be to find a job within a healthcare company, graduating from online MSN/MBA dual degree programs gives you other options. You can leverage your MBA degree to seek positions in almost any field if you want to try different types of work later.
4. You will gain hands-on experience in two specialized fields:
The curriculum for online MSN/MBA dual degree programs includes practical training experiences focused on both nursing and business administration. The experiences you have while in the program allow you to learn from well-qualified preceptors in settings similar to those where you will likely work after graduation, giving you a boost in the right direction! Also, you can include your practical training experiences on your resume, which can be a significant advantage when applying for jobs after graduation.
5. Having two degrees creates excellent long-term job stability:
Another major advantage of MSN/MBA online dual degree programs is that you will have two degrees that can stand independent of one another. Having both degrees means greater job prospects and better stability for the long term.
3 MAIN DISADVANTAGES OF ONLINE MSN/MBA DUAL DEGREE PROGRAMS
MSN/MBA dual degree online programs have several advantages. However, it is also important to note that there are some disadvantages associated with the programs. Here are three of the main disadvantages to consider.
1. The coursework is challenging!:
To say the coursework in MSN/MBA dual degree online programs is difficult is an understatement. You will combine two master’s degrees into one pathway while still learning the content needed to earn each degree. It takes dedication to succeed in the programs, but you can do it!
2. The degrees you earn in online MSN/MBA dual degree programs are considered non-clinical:
Non-clinical nursing degrees do not allow you to sit for APRN certifications and do not increase your scope of practice for direct patient care. While you can still work under your RN license, you may not be compensated more if you choose to stay in the RN-only role.
3. Finding preceptors can be challenging:
Many MSN/MBA online dual degree programs require students to locate clinical sites and preceptors independently. While the school must approve your choices, the responsibility may fall on you. Depending on your geographic location and the number of facilities and master’ prepared preceptors, you may feel at a disadvantage when searching for qualified preceptors and sites.
WHO ACCREDITS MSN/MBA DUAL DEGREE ONLINE PROGRAMS?
Each degree conferred by the best MSN/MBA dual degree online programs carries its own accreditation. There are five main agencies that accredited these specialized dual degree programs: the Accreditation Commission for Education in Nursing (ACEN)
, the Commission on Collegiate Nursing Education (CCNE)
, the Association to Advance Collegiate Schools of Business (AACSB)
, the Accreditation Council for Business Schools and Programs (ACBSP)
, and the International Accreditation Council for Business Education (IACBE)
WHEN DO MSN/MBA DUAL DEGREE ONLINE PROGRAMS START?
Online MSN/MBA dual degree programs may have one to six start dates throughout the year, depending on the school. Schools with larger faculty pools tend to offer more start dates than schools with limited faculty. The following are examples of the start dates for five of the programs featured in this article.
The MSN/MBA dual degree online program at John Hopkins University
begins once yearly in the fall semester
At Southern Adventist University
, students enrolling in the online MSN/MBA dual degree program can choose from three start dates each year
in the fall, winter, and spring semesters.
The University of Maryland
begins its MSN/MBA dual degree online program in the fall
of each year.
The MSN/MBA dual degree online program at Cedarville University
begins in the fall semester annually
• West Virginia University
offers fall and spring start dates
for the online MSN/MBA dual degree program.
HOW MANY CREDITS ARE THERE IN MSN/MBA DUAL DEGREE ONLINE PROGRAMS?
The credit requirements for MSN/MBA dual degree online programs vary among schools but tend to average between 50 and 90 credits. One of the great things about these programs is that some classes count toward both degree requirements, reducing the number of credits needed compared to completing the degrees separately. The following is a list of some of the credit requirements for a few of the nation’s best programs.
At the University of Maryland
, students enrolled in the online MSN/MBA dual degree program complete between 66 and 72 credits
The MSN/MBA dual degree online program at Texas Tech University
requires students to complete 57 credits
The Kent State University
online MSN/MBA dual degree program features a 56-credit curriculum
The MSN/MBA dual degree online program at the University of Texas at Tyler
is a 63-credit hour program
To complete the online MSN/MBA dual degree program at Loyola University of New Orleans
, students must complete 67 credits
HOW LONG ARE MSN/MBA DUAL DEGREE ONLINE PROGRAMS?
Online MSN/MBA dual degree programs can take two to six years or longer to complete. Some programs offer students the option of choosing part-time or full-time study, while others may offer only part-time or full-time study tracks. Your status as part-time or full-time and the number of credits you need are the main factors contributing to the time it takes to graduate. Take a look at the following five examples of the length of some of our featured programs.
At DeSales University
, the online MSN/MBA dual degree program can be completed in three to five years
, depending on whether you enroll part-time or full-time.
The MSN/MBA dual degree online program offered by Benedictine University
is designed to be completed in four years
Students enrolled in the online MSN/MBA dual degree program at Post University
earn their degrees in approximately 24 months
• Lamar University's
MSN/MBA dual degree online program can be completed in as few as 36 months.
The University of Nebraska Medical Center
offers its online MSN/MBA dual degree part-time with the option to graduate in four to six years
HOW MUCH DO MSN/MBA DUAL DEGREE ONLINE PROGRAMS COST?
MSN/MBA dual degree online programs can cost between $25,00 and $100,000 or more. Some schools charge different tuition rates for students based on whether they live within the school’s state or are non-residents. Other schools offer online students in-state tuition rates, regardless of where they live. One of the perks of dual degree programs is that some of your credits are shared between the two degrees, which can reduce your out-of-pocket expense, especially at schools that charge tuition based on a per-credit rate. The cost of some of the best online MSN/MBA dual degree programs in the nation are listed below.
Tuition at Drexel University
costs $1,069 per credit hour. The online MSN/MBA dual degree program is an 82-credit hour program, which means tuition costs an average of $87,658
At Lamar University
, the MSN/MBA dual degree online program costs approximately $25,681
The online MSN/MBA dual degree program at Carlow University
features a 60-credit hour curriculum and costs $675 per credit. Therefore, the estimated cost of tuition is $40,500
At the University of Mary
, students complete 60 credits and pay a rate of $570 per credit, which means the average cost of the MSN/MBA dual degree online program’s tuition is $34,200
Tuition at Post University
is calculated at a rate of $560 per credit. The MSN/MBA online dual degree program requires 60 credits and costs an average of $33,600
WHAT IS THE MINIMUM GPA REQUIRED TO GET INTO ONLINE MSN/MBA DUAL DEGREE PROGRAMS?
The minimum GPA required for admission to online MSN/MBA dual degree programs ranges from 2.5 to 3.3. The following list reflects the admission GPA required to get into some of the programs featured in this article. Be sure to verify the admission GPA needed at each school where you plan to apply.
The minimum GPA to be considered for admission to the online MSN/MBA dual degree program at DeSales University
is 3.0 on a 4.0 scale
At Robert Morris University
, candidates with a minimum college GPA of 2.5
are preferred for admission to the MSN/MBA online dual degree program. In some circumstances, candidates may be extended an invitation to interview for conditional admission if other aspects of their application are satisfactory.
Prospective students seeking admission to the online MSN/MBA dual degree program at Drexel University
should have a cumulative college GPA of at least 3.0
. If your college grade point average is less than 3.0, but you have relevant professional experience, you are still encouraged to apply.
At Spring Arbor University
, admission to the MSN/MBA dual degree online is contingent upon having a 3.0 college grade point average
on the most recent 60 academic credits earned.
• Moravian University
to the online MSN/MBA dual degree program with a current BSN degree to have a minimum undergraduate GPA of 3.0. Students currently enrolled in an MSN program must have a current MSN grade point average of at least 3.3 on a 4.0 grading scale.
WHAT ARE THE ADMISSION REQUIREMENTS FOR ONLINE MSN/MBA DUAL DEGREE PROGRAMS?
MSN/MBA dual degree online programs typically have stringent admission criteria. Although some schools may have only one application, candidates must meet the requirements for admission as if applying to the programs individually. As you research programs of interest, review admission guidelines carefully to ensure you submit the correct documents and meet specified criteria for both components of the dual degree programs. The following are examples of the admission criteria for five of the nation’s best programs featured in this article.
The online MSN/MBA dual degree program at Johns Hopkins University
has the following admission criteria
. Applicants must be graduates of an accredited BSN program or an entry-level MSN program accredited by the CCNE or ACEN and have a minimum scholastic GPA of 3.0. Candidates must provide official transcripts from all post-secondary schools, three letters of professional recommendation, a Goal Statement, and a current resume. All applicants must complete an undergraduate statistics course with a minimum grade of "B," have two years of relevant work experience as a registered nurse and have an active, unencumbered license to practice as a registered nurse. After meeting other criteria and passing the first phase of the admission process, viable candidates will participate in an admission interview
with program faculty.
Applicants for the dual MSN/MBA degree at the University of Nebraska Medical Center
must meet the admission requirements
for each program separately. The combined requirements for admission include candidates must have a BSN degree conferred by an accredited program, with a minimum GPA of 3.0 for all college coursework, and an active and unrestricted nursing license. Candidates must submit a professional resume, a personal statement, and professional references and complete an admission interview. In addition to meeting other admission criteria, applicants must complete MBA prerequisite courses, including Principles of Accounting, Macro and Microeconomics, Statistics, Algebra, and English Composition for international students.
• Moravian University
requires candidates seeking admission
to the online MSN/MBA dual degree program to have earned a baccalaureate nursing degree from an accredited program and have a minimum college GPA of 3.0. MSN students seeking to transfer into the MSN/MBA dual degree need a 3.3-grade point average for their current MSN degree. Additional admission requirements include submitting a GMAT score and completing an undergraduate statistics course. Candidates must provide official transcripts, a professional resume, a cover letter addressed to the admissions committee, a statement of intent or career goals, two letters of recommendation, and must possess a Pennsylvania RN license. Applicants will also complete an interview during the admission process.
Admission to the MSN/MBA online dual degree program at Southern Adventist University
requires meeting the following criteria
. Applicants must have earned an undergraduate degree in nursing, have a minimum undergraduate GPA of 3.0, and submit all official transcripts from any college or university they have attended. Candidates should provide three recommendation forms, a written statement, a current resume, and a GMAT score generated in the last five years. Applicants with a GPA of 3.25 or above or a 3.0 and above with five years of business-related management experience do not need to submit a GMAT score. A minimum of two years or 4,000 hours of work experience as a registered nurse is also required. The final admission requirement will be completing an admissions interview with a faculty member.
• West Virginia University
for the online MSN/MBA dual degree programs to apply and be admitted to both degree programs concurrently. Applicants must have at least two years of professional work experience and possess a baccalaureate degree in nursing. Candidates must have a minimum nursing GPA of 3.0 and a cumulative college grade point average of 3.0 for all attempted college coursework and complete a three-credit hour undergraduate statistics course. Applicants must submit a professional resume, a written statement of purpose, and one letter of reference.
WHAT KIND OF COURSES WILL YOU TAKE IN ONLINE MSN/MBA DUAL DEGREE PROGRAMS?
Online MSN/MBA dual degree programs offer a rich curriculum combining advanced nursing content and clinical experiences with graduate-level business classes and practical training. The classes included in these programs' curricula vary by name but cover similar content. The following are examples of some classes students take when enrolled in some of the nation’s best programs.
At Texas Tech University
, the MSN/MBA online dual degree program’s curriculum
includes classes such as Population Health Essentials for Advanced Nursing Practice, The Nursing Administrator: Standards of Excellence, Informatics, Quality & Safety, Health Law Survey for the Nurse Executive, Financial Management Concepts, Leadership, & Ethics, and Financial & Managerial Accounting.
• Kent State University
combines its MSN and MBA curriculum to bring you some exciting courses
such as Law & Ethics, Managerial Finance, Macroeconomic Environment of Business, Leadership in Nursing & Health Care Management, Health Care Organization Structure & Behavior, Theoretical Basis for Nursing Practice, and Program Development & Evaluation for Nurse Administrators.
Students enrolled in the online MSN/MBA dual degree program at the University of Texas
at Tyler study courses
, including Translation Science, Health Policy & Population Health, Health Care Informatics, Organizational System Leadership, Advanced Financial Management, Global Business Perspectives, and Strategies in Human Resources.
The MSN/MBA online dual degree program at Lewis University
such as Applied Biostatistics for Advanced Nursing Practice, Healthcare Organizations, Systems, and Policy, Population Health, Fundamentals of the Business Enterprise, managerial Accounting, Investment Analysis, and Financial Management for Nurse Leaders.
At Southern Adventist University
, the online MSN/MBA dual degree program features classes
including Healthcare Technology in Advanced Practice, Health Promotion Across the Lifespan, Theory & Research for Advanced Practice, Accounting for Control & Decision Making, Strategic Decision Making, Business Analytics, Healthcare Economics & Finance, and Advanced Nursing Leadership & Role Development.
WHAT KIND OF PRACTICAL TRAINING WILL YOU UNDERGO IN ONLINE MSN/MBA DUAL DEGREE PROGRAMS?
Practical training for MSN/MBA dual degree online programs typically includes practicum or capstone experiences for the MSN portion of your degree. Some MBA programs also require residency or experiential hours, but the requirements may vary as they are determined by each school. The practical training required at some of the nation’s top online MSN/MBA dual degree programs include the following.
At John Hopkins University
, students in the online MSN/MBA dual degree program complete 504 nursing practicum hours and a business residency
. Nursing clinicals, which are focused on organizational leadership in healthcare, are spread over three semesters and include corresponding clinical courses. MSN practicum involves hands-on experiences in diverse settings with a clinical preceptor. As you progress through the program, your practicum experiences will also focus on working with other nurses or leaders who are in director or administrator positions in long-term or community settings. Your final practicum offers flexibility for you to design your practicum experience based on your career goals and interests.
The MSN/MBA dual degree online program at the University of Mary
includes 500 hours of experiential learning
. Practical training experiences include 220 hours earned initiating a Capstone Project, through which you will work alongside other students to find clinical practice problems and make suggestions or recommendations on how to solve them. An additional 200 hours are earned planning, implementing, and analyzing the outcome of your Capstone Project, and 80 hours in a Healthcare Leadership Rotation. Clinical advisors will assist you in locating appropriate clinical sites, preceptors, and capstone advisors to provide guidance.
At Cedarville University
, students in the online MSN/MBA dual degree program complete two clinical practicums, earning 600 clinical hours
. Clinical practicums are in various healthcare settings under the direct supervision of a qualified preceptor. Practicum experiences offer an up-close focus on leadership roles within healthcare organizations. The school of nursing faculty will oversee all practicums and ensure you gain the necessary experiences to fulfill your degree requirements.
Students enrolled in the MSN/MBA dual degree online program at Post University
participate in leadership-focused nursing clinicals
. The university offers clinical placement assistance to ensure you have adequate clinical experiences with qualified preceptors. The program culminates with the completion and presentation of an MSN Capstone Project focused on analyzing a program, company, or healthcare system and creating an evidence-based project to solve the identified problem within your chosen organization. In addition to leadership-focused practical training, students complete an advanced health assessment clinical assignment, which is a core requirement for the MSN degree.
Practical training for the online MSN/MBA dual degree program at Lamar University
consists of two nursing administration practicums
. Each practicum lasts for eight weeks. The first practicum involves a focus on midlevel change and systems theory. You will get firsthand experience learning to plan for and organize systems for healthcare delivery. The second practicum focuses on quality improvement models and how they affect human resources departments and their functionality.
3 MAJOR CHALLENGES STUDENTS FACE IN ONLINE MSN/MBA DUAL DEGREE PROGRAMS AND HOW TO OVERCOME
Online MSN/MBA dual degree programs can be complex and come with their own unique challenges. Despite challenges, if you know what to expect and prepare mentally, you have a better chance of overcoming the challenges and succeeding. The following are three of the major challenges you may face in MSN/MBA dual degree online programs and how to overcome them.
CHALLENGE #1: Learning to Think Like a Manager
About the Challenge:
Undergraduate nursing programs do not include business classes. Therefore, transitioning to a business mindset can be challenging, especially at the beginning of your program. You will take MBA classes alongside students who earned an undergraduate degree in non-nursing fields. This means they may have previous business experience, and it can be challenging to keep up with them.
How to Overcome:
Online MSN/MBA dual degree programs are designed to help you transition to include master’s-level nursing as well as business administrative roles. The best way to overcome the challenge of changing your way of thinking is to practice. Spend some time familiarizing yourself with basic business information. Before starting your dual degree, you can read books, watch videos, or even take introductory business classes. Although the business side of things may not be familiar, nurses provide customer service and excel at communication, so we have more skills than others may give us credit for. Leverage your patient and interprofessional communication skills to overcome this challenge and prove you are up for the challenge.
CHALLENGE #2: Learning to Prioritize Patient Outcomes While Managing Business Affairs
About the Challenge:
MSN/MBA dual degree online programs feature rigorous curriculum plans focused on both business and upper-level nursing. Learning to manage business matters such as budgets, staff training, and satisfaction while prioritizing patient care and promoting patient outcomes can feel overwhelming at times. Knowing where to cut costs without sacrificing care and risking losing your staff or clients can be very difficult. Learning to navigate these skills may be one of the more challenging parts of these dual degree programs.
How to Overcome:
Healthcare is not perfect, nor will it ever be. The best we can hope for is to constantly work towards having positive patient outcomes and satisfied staff while keeping our healthcare organizations profitable and compliant. Learning to prioritize patient outcomes while balancing business affairs takes practice. Take advantage of practical learning experiences while enrolled in your program. Ask questions and use every opportunity to learn how successful leaders manage these issues.
CHALLENGE #3: Maintaining High Academic Standards
About the Challenge:
MBA and MSN programs are known for being difficult independently. When you combine the curriculum for online MSN/MBA dual degree programs, the challenges double. These programs require students to meet and maintain high academic standards for admission and progression toward graduation.
How to Overcome:
It is possible to overcome the challenges associated with maintaining grades and meeting high standards. The key is knowing your strengths and weaknesses and creating a plan for success. The easiest way to overcome this challenge and keep up with the academic standards is to get organized. It is always harder to catch back up if you fall behind. Make a calendar of all due dates, exams, and practicum experience hours. Plan ahead to avoid a last-minute rush resulting in lower grades or missed deadlines.
WHAT ARE THE BEST ONLINE MSN/MBA DUAL DEGREE PROGRAMS IN THE NATION?
(Based on our ranking methodology, the following are the 25 Best Online MSN/MBA Dual Degree Programs in the nation for the year 2023.)
VIEW OUR RANKING METHODOLOGY
WHERE DO GRADUATES OF ONLINE MSN/MBA DUAL DEGREE PROGRAMS MOSTLY WORK?
Graduates of online MSN/MBA dual degree programs can choose to work almost anywhere. The following are three of the most common settings where graduates of these programs find employment opportunities.
1. Large Healthcare Corporations:
Healthcare corporations can span entire states or even large portions of the country. These organizations need qualified nurse leaders and administrators with knowledge of the clinical and business sides of operations. Healthcare corporations employ several people with nursing and business backgrounds, so it is only natural that these are one of the main settings where graduates of MSN/MBA dual degree online programs work.
Another top place of employment for online MSN/MBA dual degree program graduates is hospitals. Graduates may work as nurse managers, chief nursing officers, directors of nursing, or administrators.
3. Insurance Companies:
When you think of jobs for graduates of online MSN/MBA dual degree programs, insurance companies may not be the first thing to come to mind. However, many insurance companies employ nurses with business administration experience to fulfill numerous roles. Nurses can work as case managers, audit claims, and even provide phone triage. Additionally, insurance companies need nurse administrators and leaders to manage their teams of nurses. Nurses in these leadership roles provide business and clinical guidance to ensure the company meets its goals.
5 BEST JOBS FOR GRADUATES OF ONLINE MSN/MBA DUAL DEGREE PROGRAMS
MSN/MBA dual degree online programs prepare students for successful careers in healthcare with a focus on the business and administrative side. Here are five of the best jobs you can hold that will utilize your dual degrees:
1. Chief Nursing Officer:
In this role, you will be the top nursing-related executive within a company or healthcare organization. You will oversee the nursing staff, implement and maintain policies, work with other executives, and ensure patients receive quality nursing care.
2. Nurse Manager:
Nurse managers work in many capacities, managing nurses and interprofessional teams, including nurses, CNAs, techs, assistants, and more. Nurse managers maintain safe staffing levels, foster a positive work environment and work with other managers or administrators to ensure operations run smoothly.
3. Operations Director:
In this role, you will be in charge of a specific program or operation. You may manage a subsection of a larger company in the capacity of a nursing operations director or operations director for home health and hospice services. One of the best parts of this job is that it will allow you to combine your nursing and business knowledge with a specific area of interest.
4. Marketing Director:
This may not be an obvious choice for someone with a nursing background, but with an MSN and MBA degree, you will have the knowledge and skills to understand what healthcare consumers are looking for. Combining your clinical skills and business-savvy mindset, you can improve marketing strategies and lead a team of professionals for healthcare and health-related companies.
5. Director of Nursing Practice:
This job focuses on developing and implementing nursing practice guidelines. By monitoring and evaluating evidence-based practice updates and emerging research, you can ensure your company or organization maintains quality patient outcomes. You will also work with other healthcare professionals and support other nursing managers and their staff.
WHAT STARTING SALARY CAN NEW GRADUATES OF THIS PROGRAM EXPECT?
Graduates of online MSN/MBA dual degree programs earn an average of $46.18 per hour, $1,847 per week, or $8,010 per month. This pay is equal to a yearly salary of $96,060.
WHAT AVERAGE SALARY CAN GRADUATES OF MSN/MBA DUAL DEGREE ONLINE PROGRAMS EXPECT?
Graduates of MSN/MBA dual degree online programs with some experience can leverage their degrees and work experience to earn higher salaries. On average, graduates earn $68.60 per hour, $2,744 per week, and $11,890 monthly. This pay is equivalent to $142,681 yearly!
10-YEAR JOB OUTLOOK FOR GRADUATES OF MSN/MBA DUAL DEGREE ONLINE PROGRAMS
The 10-year job outlook for graduates of online MSN/MBA dual degree programs is well above the national average for other career fields. With an expected increase of 45.68% between 2021 and 2031, you will enter a high-demand field.
This job outlook is being driven by a need for more qualified nurses due to a high number of nurses retiring, voluntarily leaving the field due to burnout, and increased demand for healthcare services. The nursing shortage is not just tied to direct care nurses but to nurses filling executive and leadership roles as well.
|(Source: U.S. Bureau of Labor Statistics)|
IS THE COST OF AN ONLINE MSN/MBA DUAL DEGREE PROGRAM WORTH THE RETURN ON INVESTMENT (ROI)?
Depending on which of the MSN/MBA dual degree online programs you pursue, you could invest between $25,000 and $100,000 to earn the dual degrees. Even the most expensive of these programs cost less as a dual degree option than you would pay earning the degrees separately. As you weigh your options to decide if pursuing one of these programs is the right option for you, it is good to compare your possible out-of-pocket expense to your earning potential after graduating.
The average annual salary for graduates of these specialized dual degree programs is nearly $143,000. If you take advantage of scholarships and grants, you can reduce your costs without an obligation to pay back debt. When you consider all these factors, the cost of an online MSN/MBA dual degree program is worth the return on investment.
BONUS! 5 IMPORTANT PERSONALITY AND CHARACTER TRAITS THE BEST ONLINE MSN/MBA DUAL DEGREE PROGRAMS LOOK FOR IN APPLICANTS
MSN/MBA dual degree online programs need students to have the following personality and character traits to be successful. Use this list as a guide and find ways to incorporate these traits into your written statement or during your interview:
Graduates of online MSN/MBA dual degree programs manage nursing teams and business affairs. As such, strong leadership skills are a must. Admission faculty seek applicants with a proven track record of leadership. You can demonstrate this trait by showing proof of leadership roles you have held in an academic, paid, or volunteer capacity.
High-level executives, program directors, and managers need confidence in themselves and their leadership abilities. When you are confident in your knowledge, skills, and experiences, employees are more likely to follow your leadership. When applying to MSN/MBA dual degree online programs, you can show confidence by crafting a well-thought-out, professionally written statement of intent and acing your admissions interview.
Success in online MSN/MBA dual degree programs requires perseverance. Admissions faculty seek candidates who are not deterred by challenges or difficult situations. Do not be afraid to submit additional application materials if you feel they will demonstrate times when you persevered to accomplish a goal. Also, if an admission interview is not required, you may still request one. Both steps show that you are motivated to persevere and be successful.
Admissions faculty for online MSN/MBA dual degree programs want students dedicated to pursuing a career in healthcare leadership. You can prove your dedication by creating a statement of goals outlining what you want to achieve. Having a plan in place before applying shows them you are serious and want to earn your degree.
One of the most important character traits MSN/MBA dual degree online programs look for in candidates is honesty. This is a hallmark trait that nurses and business leaders need to have. Falsifying information leads to mistrust and turmoil and does not benefit the individual or company they work for. Show that you are honest by providing accurate information and disclosing any vital information early during the admission process. Being honest can go a long way and prevents any issues later.
MY FINAL THOUGHTS
Do you have a better grasp on, what are the best online MSN/MBA dual degree programs? Hopefully, the list of the 25 best online MSN/MBA dual degree programs for 2023 has given you a place to start. Use the information discussed in this article about the program specifics to make an informed decision. Any of these schools will provide a well-rounded education and get you on your way to your exciting new career!
FREQUENTLY ASKED QUESTIONS ANSWERED BY OUR EXPERT
1. What Is The Best Online MSN/MBA Dual Degree Program In The Nation?
The best online MSN/MBA dual degree program in the nation is offered at Johns Hopkins University, located in Baltimore, MD.
|Johns Hopkins University - Baltimore, MD|
2. Is It Easy To Get Admission Into Online MSN/MBA Dual Degree Programs?
Admission to online MSN/MBA dual degree programs is often competitive, as candidates must meet admission requirements for both degree programs. There is often a limited number of spots available for incoming students, which can also make the entrance to the program competitive.
3. What Is The Minimum GPA To Get Into MSN/MBA Dual Degree Online Programs?
The minimum GPA required for admission to MSN/MBA dual degree online programs typically ranges between 2.5 and 3.0.
4. Can I Get Into MSN/MBA Dual Degree Online Programs With A Low GPA?
Some online MSN/MBA dual degree programs accept students with a GPA as low as 2.5. It is important to keep in mind, however, that the higher your GPA, the more competitive an applicant you become.
5. What Is The Typical Cost-Per-Credit For MSN/MBA Dual Degree Online Programs?
The per credit for MSN/MBA dual degree online programs typically ranges between $400 and $1,000.
6. Can I Work Part-Time And Complete This Program?
Most online graduate programs, like online MSN/MBA dual degree programs, are designed for working students. However, it is necessary to consider your school and work schedules carefully, as your courseload can be rigorous.
7. Can I Work Full-Time And Complete This Program?
While it may be possible, working full-time while enrolled in MSN/MBA dual degree online programs can be challenging. Make sure you talk with your employer and your admissions or faculty advisor to ensure your job and school schedule will not impact each other.
8. What Are The 3 Hardest Classes In Online MSN/MBA Dual Degree Programs?
The most challenging classes will vary based on your strengths and weakness. Many nurses report that the most difficult classes in online MSN/MBA dual degree programs are Healthcare Economics, Statistics, and Data Analysis.
9. How Much Do New Graduates Of This Program Make Per Year?
New graduates of online MSN/MBA dual degree programs make approximately $96,060 annually.
10. On An Average, How Much Can Graduates Of This Program Make Per Hour With Experience?
With experience, MSN/MBA dual degree online program graduates can make around $68.60 per hour!
11. On An Average, How Much Can Graduates Of This Program Per Month With Experience?
The average monthly income for graduates of online MSN/MBA dual degree programs is $11,890.
12. On An Average, How Much Can Graduates Of MSN/MBA Dual Degree Online Programs Make Per Year With Experience?
Experienced professionals with a dual MSN/MBA degree earn an average of $142,681 annually.
Brooke Schmidt, RN, BSN
Brooke Schmidt is a registered nurse with 10 years of clinical experience. She is currently living in Oregon and enjoys exploring the Pacific Northwest with her family. Brooke graduated from The University of Portland with a Bachelor of Science in Nursing degree. During her time in school, Brooke developed a passion for geriatrics and chose a specialized practicum to gain further experience with this population.