Is a Master’s Degree in Human Resources Worth It? 8 Things to Consider Before Pursuing Your MHRM
Choosing your master’s degree program will depend on a number of factors, but will ideally relate to the industry you’re interested in pursuing. Your master’s degree should enhance your expertise in a specific area while building a broad base of understanding and skill. The question becomes, then, not which degree to pursue, but what factors to consider within that specific path. For human resource professionals, there are many tools to help you achieve your professional goals, and a Master of Human Resource Management (HRM) degree is one of them.
8 Reasons a Master’s Degree in Human Resources Is Worth It
The US Bureau of Labor Statistics (BLS) suggests having a bachelor’s degree to enter into human resources, so you may wonder if you need to have a Master of Human Resource Management on top of that. Though there’s no single path that leads to practicing HR, you may want to consider the research and personal experiences of HR professionals to decide the right path for you.
1. A Master of Human Resource Management Sets You Apart
According to the BLS, all four human resources jobs listed—HR specialists, HR generalists, HR managers, and HR directors—require a bachelor’s degree, at minimum. The bachelor’s degree requirements are typically in human resources or in business administration with an emphasis in human resources through concentrations or classes. However, the BLS makes the point that candidates with master’s degrees may be preferred, which could be in part because a master’s degree in a specialized field of study can differentiate you in a pool of candidates.
2. A Master of HRM May Increase Your Earning Potential
While it varies by field, master’s degree holders typically earn more than bachelor’s degree holders, according to reports from the BLS. Often, the higher level of education you have, the higher your earnings potential could be. Other factors that affect salary may include experience, area of specialization, industry, company size, and other considerations. It’s a good idea to take a look at projected HRM job prospects and earnings before committing to a master of human resource management program.
3. A Master of HRM Satisfies Your Curiosity
If you’re considering a master’s degree, there’s a good chance you enjoy the pursuit of knowledge and strengthening your depth of knowledge in a specific area. For HRM professionals, a master’s degree in this field allows you take a deep dive into hot-button human resource management topics. With a range of courses and opportunities to explore what really interests you, it’s no wonder many HRM practitioners pursue a master’s degree. For instance, master of human resource management courses may cover business, organizational management, and of course, human resources topics.
Courses to Satisfy Your HRM Interest in Business
- BUS 600 Management Communications with Technology Tools
- BUS 661 Leading Organizational Change
- BUS 680 Training & Development
- BUS 681 Compensation & Benefits
- BUS 692 Strategies in Human Resource Management
Courses to Satisfy Your HRM Interest in Human Resources Management
- HRM 610 Employment Law and Labor Relations
- HRM 620 Job Analysis and Design
- HRM 630 Workforce Planning and Talent Management
- HRM 640 Performance Management: Metrics and Measurement of Human Resources
- HRM 650 Managing a Global and Diverse Workforce
- HRM 660 Organizational Development
Courses to Satisfy Your HRM Interest in Organizational Management
4. HRM Is Projected to Grow
According to the US Bureau of Labor Statistics, human resource management is expected to grow at a steady rate, and HR specialist jobs are expected to grow faster than many other positions—at a rate of five percent through the year 2022. In addition to HR firms, companies will continue to need HR professionals internally. Recruiters, benefits and compensation specialists, and other HR personnel will continue to play integral roles in organizations.
5. You’ll Gain Advanced Skills
Pursuing a degree in human resource management is a great way to build a foundation of skills and knowledge, and an advanced degree takes that a step further. Master’s programs often require practical application and research in your field of choice, helping you sharpen practical HR skills that can be applied in your HR career. Advancing your knowledge can lead to enhancing your skills in interpersonal communication, recruiting, screening strategies, employee relations, onboarding, scheduling, performance management, and data entry.
6. You’ll Show Your Commitment to HRM
While there are many reasons to pursue advanced, general education in business, a master of human resource management demonstrates to employers and other professionals that you are committed to growing in the specific field. It shows that you are committed to understanding HR trends, developing your career, and enhancing your expertise.
7. You’ll Expand Your HRM Network
Whether you’re just beginning your human resource management career or you’re looking to take it to the next level, networking is important. Networking expert and HR professional Michelle Tillis Lederman explains that you should utilize every chance you have to build your network and get to know others in your field. One way to do so is through a degree program—especially if it’s advanced, where you’ll have peers also looking to network.
8. A Master of HRM Provides Resources
There are many tools at your disposal as an online student, many of which are specific to your field of HRM. Those resources go deeper yet as a student in a master’s program. Resources for networking, practical application of subject knowledge, and understanding HR trends are at your fingertips in an advanced academic program.
Why Ashford Thinks a Master of HRM Is Worth It
As human resources continues to grow as an industry, Ashford University has added the advanced degree program to meet students’ needs. HR professionals look favorably upon a master’s degree, but don’t take our word for it—hear what others have to say about the master of human resource management in their day-to-day.
It’s never too late to earn your master’s degree and further your educational and career goals. Learn more about the master of human resource management and start working toward your degree today.
Written by Kelsey Bober, Content Manager for Bridgepoint Education