The number of management jobs in human resources continues to grow, driven partly by the changes that have occurred in human resources in recent years. Business leaders once viewed human resources as a support department for the rest of the company. They managed scheduling job applicant interviews, making sure all the new employee paperwork was signed and handled placing recruiting ads. In some cases, they also oversaw training.
All that remains part of the job of an HR manager, but the job has grown into one that plays an important role in formulating business strategy. That’s because success is closely tied to the people an organization hires – and the good employees they manage to retain.
HR managers have become leaders in how to better incorporate human capital management into business success.
An In-Demand Job
For those considering a master’s degree in human resources management , it’s hard to remember a better time to make the move. It’s an especially attractive option for human resource professionals who want to move up into leadership positions. Now, they can earn a graduate degree through a flexible, online program, such as the Master of Science in Human Resource Management offered by Touro University Worldwide.
Certainly, the job market is good. The federal government projects a 9% increase in the number of HR managers by 2026. They also report an annual median salary nationwide of $110,120.
In large metropolitan areas with the highest concentration of human resource managers, those numbers can be even higher. They include the following cities and their metropolitan areas (with mean annual wage in parenthesis):
- New York City ($150,550)
- Boston ($145,020)
- Washington D.C. ((148,130)
- Dallas ($142,620)
- Minneapolis ($127,070)
- Los Angeles ($126,940)
- Miami ($117,850)
- Chicago ($115,930)
A Critical Need
In a report released earlier this year, McKinsey & Company said that putting an “HR Business Partner” plan in place is a critical change in how organizations approach human resources. In some cases, companies have created new positions within HR to handle this new strategy. It’s yet another opportunity for those with a master’s degree.
In a typical situation, an HR business partner would work as a partner with key departmental leaders within an organization. They would have a strong role in talent recruitment and retention, working with department heads to create a plan that uses their expertise on the latest trends and strategies in human capital management.
This also provides value to the department leaders. Rather than spending many hours of legwork on recruiting a new employee, that task can be handled by an HR manager whose job focuses on these issues.
The Expanding Role of the HR Manager
HR managers also have a larger role with executives at many companies. Because of their expertise in human resources, they are the best suited to advise executives on components such as compensation packages, employee benefits and employee retention strategies.
With the evolving role of HR, expect jobs for those with master’s degrees and expertise in the field to continue to multiply. Earning an online master’s degree may be the first step to achieving your ambitious goals for a career as an HR manager.