Do You Need an MBA for a Career in Human Resources?
A career in human resource management is a wise choice.
According to the Bureau of Labor Statistics, the HR industry will experience 9% growth by 2024 — 2% greater than the 7% national industry average. And while it’s a job market that’s experiencing faster than average growth, it’s also competitive, and that’s why an MBA is so valuable.
Human resource professionals are key for shaping an organization’s strategy and development. They have to look at and understand the big picture, and an MBA is the perfect program to offer such a broad understanding.
As for which MBA programs make the most sense in terms of pursuing a career in human resource management, there are plenty of options. Business schools throughout the country offer concentrations in human resources. For example, the Quinlan School of Business at Loyola University offers a dual degree program where students can earn a Master of Science in Human Resources and an MBA.
The question is, does it make sense to enter the HR industry with an MBA?
Let’s take a look!
Human Resource Manager Job Description
HR is a critical component of every company. It deals with employee well being, and no matter the size of the business, HR specialists work with every department for recruitment, employment interviews, job placement, and labor relations.
To be successful in HR, candidates should demonstrate a few essential skills according to the HR Daily Advisor:
- Organization: An orderly approach with strong time management and personal efficiency skills.
- Multitasking: HR professionals need to be able to jump from one employee issue to the next without missing a beat.
- Comfort with Ambiguity: The “gray area” is the bane of every HR employee. What is reasonable? Was it discrimination?
- Negotiation: You need to be able to listen to two opposing views and offer a solution.
- Communication: An HR Specialist’s job is communicating with employees.
- Ethical: HR professionals are the conscience of the company and the keepers of confidential information.
Exceptional HR professionals understand the employment needs of their business and strive to meet them. They examine job descriptions and company goals to fill staffing needs. They walk new employees through new hire paperwork and ensure that all legal requirements are met. They are also the final authority on labor laws and keeping their company in accordance.
On any given day, you’ll find an HR Manager maintaining and enhancing their organization’s human resources by planning, implementing and evaluating employee relationships and the company’s policies, programs, and practices.
HR Specialist Salary
According to PayScale.com, an HR Manager with an MBA in HR can expect to earn between $46,460 – $94,165 as of January 2016. Individuals with only a Bachelor’s degree earned between $38,957 – $82,078.
Do You Need an MBA for an HR Career?
So, do you need an MBA for a role as an HR Manager? It’s not a bad idea, and many millennial MBAs are interested in the industry.
According to the 2015 Prospective Students Survey Report from the Graduate Management Admission Council, 9% of millennial MBAs were interested in a career in Human Resources. It’s a huge change from Gen X and Baby Boomers who didn’t even consider HR as an industry option.
The reality is that an MBA makes sense if HR is an ideal fit for your goals.
A good HR student is someone who’s interested in human capital, managing talent, and making an impact. If you’re a problem solver who wants to evaluate the effectiveness of your company’s programs and policies as they relate to the total strategic plan, then a career in HR is for you.
An article in the U.S. News put it this way:
“Today’s human resources professionals may have to interact with stakeholders from various departments of a business, such as finance or accounting, experts say. This can increase the need for some human resources professionals to have an MBA background because of the breadth of the degree.”
Earning an MBA can make you more attractive to potential employers since it demonstrates your skillset. An MBA in human resources also lets you keep your options open. Every industry and company needs an HR department, so there’s no limit to where you can work.
Choosing an MBA or a Master’s in HR
If you’re still unsure, ask yourself these three questions before you get your MBA.
- Are you passionate about HR? If you’re absolutely sure you want a career only in HR, then a Master’s degree might serve you better. But, if you’re still on the fence, an MBA can open you up to more possibilities.
- Do you want a broad skillset? An MBA will prepare you not only for a career in HR but a career in almost any business field.
- How do you want to be viewed? If you’re only interested in HR, then a Master’s degree might be more attractive to potential employers. However, if you want to demonstrate your total strategic business acumen, an MBA might be best.
If you’re interested in exploring other MBA jobs, make sure to check out the following articles!
About the Author
Kelly Vo
Kelly Vo is a writer who specializes in covering MBA programs, digital marketing, and personal development.
