Are you considering a career in human resource management? If so, you’re probably wondering how much you can expect to earn. According to data from the U.S. Bureau of Labor Statistics, the median annual salary for HR managers is $104,440. But of course, salaries can vary depending on factors like experience, education, and location.
So if you’re thinking about pursuing an MBA in human resource management, what can you expect to earn? Here’s a look at some data from PayScale.com on MBA salaries for HR professionals:
- Entry-level HR managers with an MBA earn a median salary of $85,000.
- Mid-career HR managers with an MBA earn a median salary of $115,000.
- Experienced HR managers with an MBA earn a median salary of $138,000.
As you can see, there’s a pretty significant jump in pay between entry-level and experienced HR professionals.
MBA in human resource management salary: what to expect?
MBA in human resource management salary levels is among the highest of any field, according to the US Bureau of Labor Statistics. The median salary for an HR manager is $106,910 per year, while the top 10% earn more than $172,860 annually.
With an MBA in human resource management, you can expect to earn a significant salary and enjoy job security. The demand for HR managers is projected to grow by 7% through 2026, which is faster than the average for all occupations.
How an MBA in human resource management can help your career?
An MBA in human resource management can help you earn a high salary for several reasons. First, MBA graduates tend to earn more than other college graduates. Second, an MBA in human resource management can help you get a job in a top company. And third, an MBA in human resource management can provide you with the skills and knowledge you need to be an effective human resources manager.
The top MBA programs for human resource management?
There are many different types of MBA programs available, but not all of them are ideal for those looking to enter the field of human resource management. To help you choose the right MBA program for your career goals, we’ve compiled a list of the top programs for human resource management.
- Harvard Business School
- Wharton School of the University of Pennsylvania
- Stanford Graduate School of Business
- Booth School of Business at the University of Chicago
- Kellogg School of Management at Northwestern University.
The benefits of an MBA in human resource management :
An MBA in Human Resource Management is a terminal degree that prepares students for management-level jobs in human resources, personnel management, and industrial relations. The degree program is designed to give students the knowledge and skills they need to manage employee benefits programs, payroll systems, employee development programs, and other HR functions.
An MBA in Human Resource Management can lead to a career as a human resources manager, compensation and benefits manager, labor relations manager, or training and development manager. Salary levels for these positions vary depending on the size of the company and the location, but the median annual salary for human resources managers was $106,910 in May 2019, according to the U.S. Bureau of Labor Statistics.
The drawbacks of an MBA in human resource management :
An MBA in human resource management is not always the best choice for those seeking a career in human resources. Here are some of the drawbacks of this degree:
-It can be expensive. An MBA is a significant investment, and there is no guarantee that you will see a return on that investment in the form of a higher salary.
-It may not be necessary. In many cases, a bachelor’s degree in human resources is all that is required to qualify for most entry-level HR positions.
-It could limit your career options. An MBA in human resource management may make you more attractive to employers in the HR field, but it could also limit your options if you decide to pursue a different career path.
Is an MBA in human resource management worth it?
MBA graduates with a concentration in human resource management bring in some of the highest median starting salaries of any business field, at $115,000 per year.
There are several reasons why an MBA in human resource management is such a popular and valuable degree. For one, the skills you learn in an HR MBA program are highly transferable to other industries and businesses. You’ll learn how to effectively manage and motivate people, how to resolve conflict, and how to create an inclusive workplace culture – all skills that are valuable in any organization.
In addition, we expected the human resource management field to grow significantly in the coming years. The Bureau of Labor Statistics projects that employment in human resources will grow by 9% from 2019 to 2029 – faster than the average for all occupations. This growth will create plenty of opportunities for MBA graduates with HR expertise.
So if you’re interested in a career in human resources, an MBA in human resource management is worth considering. With the right program, you can gain the skills and knowledge you need to be successful in this growing field.
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How to make the most of your MBA in human resource management?
Your MBA in human resource management can lead to several career paths. Here are a few tips on how to make the most of your degree and maximize your earnings potential:
- Get experience in a variety of HR roles.
The more experience you have in different HR roles, the more marketable you will be to potential employers. Try to get experience in as many areas of HR as possible, including recruiting, benefits administration, and employee relations.
- Consider pursuing a certification.
Several HR-related certifications can help you stand out from the crowd, such as the Senior Professional in Human Resources (SPHR) or the SHRM Certified Professional (SHRM-CP). Pursuing one or more of these certifications can help you earn a higher salary and advance your career more quickly.
- Stay up-to-date on industry trends.
To be successful in any field, it’s important to stay up-to-date on industry trends. This is especially true for the ever-changing field of human resources. Make sure you’re reading industry publications and attending conferences and seminars regularly so you can stay ahead of the curve and offer value to your employer.
What to do after getting your MBA in human resource management ?
After you receive your MBA in human resource management, you will be able to work in a variety of industries in a management or leadership role. To be successful in this role, you will need to have strong communication and interpersonal skills, as well as a deep understanding of HR law and best practices.