More and more professionals are enrolling for different MBA streams to improve their career opportunities. Many candidates opt to enroll for a Masters in Business Administration in HR. It is observed that Human Resource personnel have tremendous career advancement opportunities, thus more students are opting to acquire an MBA in HR.
Importance of MBA in HR
The US Bureau of Labor Statistics suggests that employment opportunities increase greatly if you are equipped with a masters in human resource. Employers are on a hunt for individuals who are well versed in industrial and labor relations, human resource management human resource administration.
MBA programs in HR concentrate on various aspects of human resource such as:
- Employee health and safety
- Benefits and compensations
- Human resource management
- Information analysis and quantitative analysis
- Labor law
- Industrial psychology
Advantages of earning an MBA in HR
There are many advantages associated with an MBA in HR.
- According to the Bureau of Labor Statistics, top management positions require a master’s degree in human resources.
- An MBA in this field helps you earn better salary and position.
- If you are working presently in a company, a master’s will help you to advance further and earn better as you will be perceived as an asset to the company.
- Your probability of getting a promotion will be higher than those of your colleagues who do not have an MBA.
- If you are just starting out on your career, you will earn better entry- level pay than others.
- You will further chisel your leadership and management skills and learn in depth about effective communication.
- Another major advantage is the exposure and knowledge you receive will help you in your everyday human resource practices.
An MBA in this field is not limited to HR positions, but instead provides knowledge and skills which can be applied to various fields. Therefore students of MBA in HR fill varied executive positions within the corporate world.
MBA in Human Resources helps you to evaluate and improve the company’s HR along with equipping you with the right knowledge to design and implement new HR policies of the company.
Although MBA in HR is definitely advantageous, the cost associated is on the higher side, which is its biggest disadvantage. The tuition fees, school fees, books cost and transportation combined make up to an expensive education. Therefore it is important you secure financial aid before enrolling, unless of course you can afford to fund your education on your own.
Human Resources MBA opens up many avenues for the student as you are able to secure job in different fields. The most common careers involve supervisory positions. Apart from these positions, many graduates also opt for other careers such as employment recruiters, employee relations experts etc. The degree also helps in advancing the hierarchy and earns promotions.
HR training is best suited for those aspiring for high-level careers or wishes to advance their skills in order to better their portfolios. There are many reputed colleges offering MBA in this discipline. You can also enroll in an online MBA program offered by many universities. But before you enroll for an online program, make sure that you first verify and authenticate the university and check its credentials. Accreditation is extremely important in order to ensure that it aides you in furthering your career opportunities.
Future prospects for HR MBA graduates
The field of human resource and management is fast growing and the business demand for professionals is high. New regulations and guidelines regarding business administration and employee management have further increased the demand for professionals. According to BLS, employment opportunities for specialists and professionals in human resource and labor relation is expected to increase by 22% between 2008- 2018. Thus pursuing an MBA in Human Resources is an apt career move as the demand is set to increase.