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Tuesday, July 28, 2015

Pursuing an MBA Degree in Human Resources

For students seeking career advancement in the human resources (HR) field, an MBA degree from an accredited college looks very promising. The human resources field opens doors to new opportunities and management positions for MBA graduates.
The Bureau of Labor Statistics projects that by 2018, as many as 184,500 new jobs may be created in the area of human resources. MBA graduates are likely to find more career opportunities in order to demonstrate their expertise in different areas of HR management.
With the advent of new technologies, MBA programs in human resources offer flexibility to students given the increased availability of computers and electronic resources. With telecommuting and online classes, students can save money by no longer travelling to classes.

Typical coursework in human resources includes:

  • Accounting
  • Business strategy
  • Operations management
  • Marketing
MBA courses also teach you how to handle important business decisions such as hiring, position alignment, and employee compensation. As a human resource MBA student, you’ll learn about the legal regulation of the hiring and firing process, wage and hour laws, and more. You’ll also gain the knowledge and skills for managing human resources with regard to of promotions, product pricing, and product strategies.
MBA Colleges teach you how to develop the organizational skills and abilities to tackle multiple projects at the same time. In addition, you’ll learn how to manage budgets and create strategic plans.

Why is Human Resources So Important?

Although many executives focus on the bottom line and making profits, they still believe that highly skilled and dependable employees are the bread-and-butter of any business. Physical resources, equipment, and products are essential when it comes to running a business, but these physical items will never replace good, hard-working individuals in the business world. That’s why human resources (or the business of managing people) plays such an important role in any business or organization.
Human resource MBA programs teach graduates the skills needed to qualify for a Director of Human Resources position. These are typically high-paying positions, and you can easily earn a six-figure income as a director.

What’s the Salary Range for Human Resource Managers?

According to the Bureau of Labor Statistics, the mean annual salary for HR positions was $59,070 in 2008; however, this amount varies based on other factors such as experience, location, and the type of company you work for.

Salary ranges also vary greatly, depending on the industry in which you choose to work. The following table shows human resources salaries and industries:
  • Industry Salary
    • Technical Services $101,570
    • Accounting $103,990
    • Scientific Research and Development $94,860
    • Advertising $96,620
As a human resources MBA student, you will learn about the legal regulation of the hiring and firing process, wage and hour laws, and more. You will gain essential knowledge and skills for managing human resources in the areas of promotions, pricing, and product strategies.
Many corporations help pay for MBA programs for their executives, since no time is lost from work. Financial aid and scholarships are also available for MBA programs. The average MBA program that specializes in human resources lasts approximately two years; however, online study programs are available to accelerate the learning process and graduate sooner as a result. If you’re thinking about pursuing an MBA in human resources, don’t hesitate to do so. The HR field offers plenty of opportunities and high salaries for those wanting to specialize in the field.

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