What Can You Do With a Master’s Degree in Human Resources?
Earning a master’s degree in human resources helps graduates advance their HR careers in various roles. Many start as a generalist in HR before moving into a management role, while others specialize in certain areas, such as compensation and benefits, labor relations, or training and development.
HR careers continue to expand as the department takes on more importance. An online MS in Human Resource Management prepares HR professionals for these jobs while allowing them the flexibility to earn their degree. Graduates learn the latest strategies on attracting and retaining the best and the brightest employees, methods of resolving workplace conflict, how technology impacts HR functions and ethics, and compliance as they relate to HR.
Master’s Degree Boosts Advanced HR Careers
A master’s in HR program attracts professionals who want to boost their careers. Many of them work as generalists in an HR department and want to move on to jobs in management or work as a specialist. A graduate program in HR can also attract other professionals transitioning into HR.
Companies seek talented HR professionals because they are central to creating an employee-centered, diverse, and inclusive workplace. They also develop hiring strategies that attract top people with expertise in solving complex challenges and helping meet strategic goals.
The Balance notes that HR “owns the overall talent management processes.” Working with department managers, HR spearheads management development, performance management, and succession planning, among other talent management issues. They also create strategic compensation plans based on current market conditions and vital training programs that equip the workforce with the latest skills.
Types of Human Resources Jobs
Each of these HR careers is critical for any organization. A business can’t thrive without talented leaders filling these roles.
Pay for these jobs depends on several factors, including the size of the organization and the job responsibilities. For example, an HR manager in a smaller company may make slightly more than one who works for a large company because she handles more job duties.
All salaries and job projection numbers come from the U.S. Bureau of Labor Statistics (BLS).
Human Resource Manager
Managers direct the activities of a human resource department. They work closely with the management team to match the right applicants to the right positions. They also oversee training programs for employees. Human resources managers had an average annual pay of $134,580 in May 2020. The federal agency projects 9% job growth in the field by 2030.
Training and Development Specialist
HR develops training programs that help employees acquire fresh skills throughout their careers. HR training and development specialists create and manage these training programs. Doing so requires assessing the training needs for an organization, as well as identifying employees who make a good fit for specific types of programs, such as management training. The BLS projects an 11% growth in this field by 2030. Annual pay reached $67,440 in May 2020.
Compensation and Benefits Manager
Compensation and benefits managers develop and manage compensation plans for employees. They are crucial in establishing an organization’s compensation structure. They help set competitive employee pay rates and may manage relationships with outside vendors such as insurance brokers or investment managers. The average annual salary for compensation and benefits managers reached $137,160 in May 2020. Job growth is projected at 4% by 2030.
Labor Relations Specialist
A labor relations specialist is the lead contact for a company’s labor department. They advise management on labor issues, help create contracts, lead meetings between management and labor, and work to draft rules and regulations proposals. The average salary for labor relations specialists reached $74,870 in May 2020. Job growth is projected to decline slightly by 2030 because of the decline in union membership among employees..
Human Resource Specialist
This typically applies only to those transitioning into HR from another field. Businesses may start them in an HR specialist position. Here, they learn about HR through the experience of carrying out strategies developed by managers, including attending job fairs and working face-to-face with job applicants during the recruitment process. HR specialists earned an average annual wage of $69,430 in May 2020. Employment growth for HR specialists is projected at 10% by 2030.
Touro University Worldwide’s MS in Human Resource Management
Most employers expect HR specialists to hold a bachelor’s degree in business administration, human resources, or a related field. Coursework may include industrial relations, psychology, professional writing, and accounting.
To enter the top HR careers, professionals need a graduate degree. Touro University Worldwide’s online MS in Human Resource Management prepares graduates for these careers. The 100% online course features eight-week courses. Most students complete the program in one year.
TUW offers graduate students the opportunity to choose a concentration in either Employee Engagement and Total Rewards or Training and Development.
A master’s degree qualifies HR professionals for leadership roles guiding a company’s strategy. It’s a rewarding, challenging, and essential field as companies face the challenges of remote work, international workforces, and increasing diversity, equity, and inclusion.
