Even after you’ve made the decision to pursue an advanced business education, it’s likely you’ve already considered the vast benefits an advanced degree can have for your career. Nevertheless, deciding not just where but what kind of degree to pursue is an important consideration.
For individuals looking to pursue a degree in human resource management, you can obtain either an MBA with a concentration in human resources or a master’s in human resources management (MS HRM). Both types of programs prepare graduates to be leaders in their fields—so which one is right for you? And what’s the difference?
MBA with an HR Concentration
Earning an MBA with a concentration in HR will focus on “big picture” aspects of business operations, preparing you to take a strategic and leadership role in achieving organization goals and improving employee performance.
In earning your MBA degree, you will most likely be required to take some core classes to learn a broad base of business skills, including macroeconomics, finance management, marketing and accounting. Your elective courses would then specialize in human resources topics. This MBA specialization typically involves a curriculum including organization behavior and design, ethical leadership, corporate management and other in-depth HR concepts.
Since an MBA teaches core business skills in addition to human resources electives, it is possible for a graduate from this program to apply for positions with a company outside of human resources. This is a great choice for someone who is interested in HR but might also like to consider a variety of employment opportunities.
Of course, cost is an important consideration when evaluating which degree program best fits your needs. Tuition for an MBA program will likely be more expensive than for a specialized master’s degree, and the time commitment required for a full-time MBA means that you could not work during these two years. Nevertheless, it should also be considered that earning an MBA with an HR concentration would open the door to senior management opportunities and high—even six-figure—salaries.
Master’s in HR Management (MS HRM)
If you choose to earn a specialized master’s in human resources management, the curriculum will likely be much more focused on directly training students for a role in HR. Coursework would generally include studies of HR subsystems such as legal issues in the workplace, recruitment and compensation. Other courses might include psychology, organizational design and leadership.
This degree is a great option for someone who is certain about focusing on the human resource management, as all coursework would specifically relate back to the field. Graduates with this degree typically take on positions such as compensation manager, recruiter, employee benefits specialist or HR manager. HR managers typically make around $67,000 per year, although positions like benefits manager or executive recruiter can earn upwards of $80,000.
The cost of the MS HRM is typically lower than an MBA program, although the price tag is still around $30,000 per year—not including books, supplies and living expenses.
MBA vs MS HRM
In choosing which degree is right for you, it will be necessary to consider a number of factors, including program cost, career goals, salary goals and academic interests. If you are interested in human resources but still wish to gain a broader education in business, perhaps an MBA with an HR concentration is the right option. This program will give you the broader business education you desire, while also providing career flexibility if you find yourself interested in taking a different path. This program is more expensive, but it can also lead to higher management roles and therefore increased salaries.
If, however, you are certain about your interests in the human resources field, the MS HRM will absolutely provide you with the education necessary to become a leader within the industry. And while graduates with this degree typically hold positions with slightly less earning potential, the cost of the degree is also lower than that of an MBA.
For more information regarding MBA vs specialized master’s degrees, make sure to check out the following articles: