Generally, employers don’t need a degree in human resources while seeking HR professionals for entry-level roles. However, for professionals who have spent significant years working in human resources may need a degree to advance a career. A master’s degree is helpful in this case. In fact, earning a master’s degree in human resources has multi-pronged benefits for an HR professional.
It opens opportunities for promotions and senior management positions. The likelihood of getting promoted is increased multi-folds. Given that job growth in human resources is expected to be 13 percent year-on-year, according to the U.S Bureau of Labor Statistics, you would open yourself to a sea of career opportunities. Those who are looking to grow in their HR career, going for a master’s degree in human resources is a good way.
Here are some primary career growth opportunities which could be expected after earning a master’s degree in human resources.
1. Earn an HR certification
After your master’s in human resources, you have the opportunity to join an association of human resource professionals. For instance, you can join SHRM, HRCI, and other human resources membership organizations. Typically, a master’s degree is the entry to such organizations.
Further, credentials offered by these organizations are valuable. You have the opportunity to earn credentials if you hold a master’s degree, as it is a requisite for most credentials. Several industry-leading HR and talent management certifications can be earned. Popular options are:
. TMP (Talent Management Practitioner): You will be eligible for this certification from Talent Management Institute if you have a master’s degree and are currently working in the human resources field.
- PHR (Professional in human resources): This certification from the HR Certification Institute is globally recognized. You should have 2-4 years of experience working in human resources or any hr-related domain. Plus, a master’s degree.
2. Improve your abilities and skills
Today, human resources aren’t what it used to be. Human resource professionals get to take on a deeper role and be a part of strategic decision making in their organization’s functioning. Pursuing a master’s degree equips you with the skills required to manage the modern workforce. You will gain expertise in–
- Strategic hiring and retaining employees
- Building compensation and benefits plans
- Administering training and development programs
- Managing employee relations
- Leadership management
- Organizational development
3.Increased compensation
Jobs in human resources are expected to grow at 13 percent by 2022, according to the U.S Bureau of Labor Statistics. As new organizations form, it would require them to hire human resource professionals to manage the workforce, thus opening job opportunities for HR professionals.
In
addition, master’s degree holders earn a competitive salary than non-holders.
As of 2015, the median salary for individuals with master’s degrees was nearly
six-figure. Individuals in leadership positions earn more, close to $173,000,
according to the U.S Bureau of Labor Statistics.
Further, master’s degree
holders can grab occupational titles like VP of human resources management,
Chief learning officer, Chief human resources officer, Human Resource Manager
and so on.