MBA degrees have always signaled a job candidate’s dedication and value, but they may be more important now than ever. A Society for Human Resource Management study found that 41 percent of HR professionals expect an increased need for advanced degrees, such as MBAs, in the coming years. Their predictions align with a GMAC study, which indicated that nearly 80 percent of employers plan on hiring an MBA graduate in 2017. With so many MBA concentrations available, why get an MBA in Human Resource Development? Here are the top 6 reasons.
Human Resource Positions are in High Demand
Technology and innovation may be driving change across every industry, but there’s always a need for effectively managing human capital. When asked about their most in-demand roles, one out of eight employers told CareerBuilder that they will be recruiting talent management professionals.
Employment Opportunities for HR Managers are Growing Faster Than Average
Another benefit of doing an online MBA in HR is the increasing opportunities for employment. The Bureau of Labor Statistics expects employment to increase an average of 7 percent across all industries from 2014 and 2024. However, for Human Resource Managers, this projection is above the average, at 9 percent expected employment growth.
Every Industry Needs Human Resource Development
When you think of human resource positions, you may picture someone who works to manage a corporation. While it’s true that 15 percent of human resource management positions are within the management of enterprises and corporations, an MBA in human resource development opens the door to opportunities in a whole range of industries. Examples of fields with demand for human resource development include government, hospitals, and manufacturing.
There Is a Variety of Positions Available
A human resource concentration ensures that MBA graduates can work within a variety of industries in an array of positions. An advanced HR degree opens the door for positions such as executive recruiter and global HR specialist. An MBA in human resource development from Spring Arbor University will also prepare you to take on the position of training and development specialist, which is gaining in popularity and demand.
The After-Graduation Positions Offer Good Work-Life Balance
Some MBA concentrations and careers, like investment banking, are notorious for requiring employees to work grueling schedules. However, a benefit of obtaining an MBA in HR is that most HR managers work only during normal business hours and only 1/3rd work more than 40 hours a week.
Human Resource Development Is One of the Highest Paying MBA Concentrations
HR development MBA grads enjoyed a median starting salary of $54,100 in 2016, and human resource managers in the field earned a median salary of $106,910. Additionally, human resource directors earn an average of $84,00 annually.
While there are benefits specific to choosing human resource development as an MBA concentration, an advanced business degree is in and of itself valuable. The senior vice president of HR at AppSense stated that MBAs provide candidates “a certain amount of credibility” in the job market. Likewise, the SVP of recruitment at 2U notes that MBA grads “tend to have a broader set of skills that enable them to address business needs with a more comprehensive understanding of how their actions will impact the organization”.
An MBA in human resource development also sets candidates apart in a recruiting environment that is becoming more difficult for hiring managers. 84 percent of HR professionals stated that they had difficulty finding candidates with the appropriate applied skills. The most commonly sought applied skills were problem-solving, critical thinking, written communication, and leadership. Spring Arbor University designs their MBA coursework to cultivate both knowledge acquisition and knowledge application within students.
In addition to applied skills, technology and the changing economy have created a new demand for data analysis. An SHRM survey found that over half of organizations plan on adding more positions that require data analysis skills over the next 10 years. On top of that, over 75 percent of organizations experience difficulty recruiting for positions that require data analysis. While this modern skill set will prove useful across many job areas, human resource positions are of particular interest. In the same SHRM survey, HR was the second most common functional area in need of data analysis skills, only behind accounting and finance. Spring Arbor University’s curriculum perfectly prepares its human resource development MBA students for the work force with courses like Statistics for Business Managers, focusing on data and analysis.
To learn more about the HR development curriculum at Spring Arbor University and how it sets students up for success, read more here.