It’s not easy to decide whether to earn a master’s degree, nor should it be. Completing a degree is a time-consuming process; it can take a full-time student two years, and a part-time student even longer. However, when you’re done, you’ll have an improved skill set and an impressive credential on your resume.
Advanced degrees are also expensive. According to US News & World Report, those who earn a Master of Arts took on a median debt of $59,000 in 2012. That’s $21,000 more than the median debt for the same demographic in 2004.
The good news is that you may not have to foot the entire bill yourself. Some employers are willing to pay for graduate school. Even when they aren’t, the right graduate degree—combined with necessary experience—can improve your earning potential enough to provide a pretty sweet return on investment. If you aspire to the upper ranks of management, know that executives at major corporations usually hold a graduate degree—frequently a Master of Business Administration, but possibly a Master of Arts or Master of Science.
So, is a human resources master’s degree worth it? We’ll explore that question by answering the following:
According to the Bureau of Labor Statistics, “a bachelor’s degree is sufficient for most positions” in human resource management. Many employers require job applicants to hold only a bachelor’s, although some state a preference for master’s degree holders.
You can earn a bachelor’s in human resources from:
If you choose not to pursue a master’s degree, you might want to consider adding some certifications to your credentials. Though optional, human resource certifications are a great way to advance your career. According to the BLS, “many employers prefer to hire certified candidates, and some positions may require certification.” A certification probably won’t replace a master’s degree, but it can enhance your bachelor’s degree and work experience. Plus, acronyms look great on a resume.
Professional organizations offer many of the top certifications. The BLS recommends the following:
The certifications these organizations offer include:
Unsure that a master’s degree in human resources is the right choice for you? There is no harm in gaining work experience before applying to a program. Graduate schools want experienced applicants, and nearly all senior positions prefer professionals with extensive experience (often a decade or more) no matter how advanced your degree is.
You will need a bachelor’s degree to apply to graduate school, but it does not necessarily need to be in human resources. Each program has different admission requirements, but most want to see previous work experience in human resources. Some will admit you merely based on an excellent statement of purpose (and decent grades, good test scores, strong letters of recommendation, etc.). With that said, having a bachelor’s degree in HR can undoubtedly help you get into a master’s program.
The University of Southern California Master of Science in Human Resource Management program values current human resource professionals “who understand the value of a graduate degree from a topflight university and how it can advance their career.” Georgetown University is less specific about who should apply. It seeks letters of recommendation from former employers, but also mentions that “recommendations from former professors are acceptable for applicants with limited professional experience.”
The SHRM identifies three major categories of human resources graduate degrees:
Top schools that offer an online MBA where students can opt for a concentration in Human resource management include:
An MBA with a human resources concentration covers a broad spectrum of business topics, including finance, management, operations, and economics. Students complete elective courses in human resources, but how many exactly depends on the program. This is a generalist degree best suited to those who want to understand all aspects of a business. It’sespecially for those who may hope to pivot away from HR later in their careers.
A master’s in human resources focuses more intensely on HR-specific content. It offers a deep dive into the theory and practice of human resource management, but as a result, it spends less time covering all other aspects of business practice. The difference between a Master of Science and a Master of Arts lies mostly in which department offers the degree. You’ll learn more about the difference between different programs by studying their curricula than from looking at the degree designation.
A bachelor’s degree is something you might earn because an adult has told you to. A master’s degree is something people get when they have a firmer idea of where they are going (or want to go) and hope to build on their existing education.
Master’s degree programs are getting more flexible. Most still take years to complete, but some accelerated degrees take a year or less—they’re generally made for more advanced professionals. Many schools offer online master’s degree programs or hybrid programs.
It’s worth spending time comparing the differences between your first-choice programs. USC’s online MS in Human Resource Management “emphasizes the strategic role that human resources plays in the performance of global organizations, providing students with the knowledge and skills needed to be effective HR leaders.” The University of Minnesota – Twin Cities MA of Human Resources & Industrial Relations focuses on imparting “a thorough understanding of contemporary practices, underlying theories, and the major areas of human resources and industrial relations” to help graduates further their careers in the public or private sector.
The George Washington University Master of Human Resource Management (MHRM), which includes several courses in the school’s MBA program, prepares you for a more management-focused career. The program concentrates heavily on organizational dynamics, ideal if you want to work in a large company managing large teams.
Among the classes you might take in an HR master’s program include:
Graduate programs often provide a list of job titles—frequently senior positions—that past graduates hold or have held. Visit one of these websites and you’re likely to find some of the following listed:
You can earn excellent money as a human resource professional. According to the Bureau of Labor Statistics (BLS), human resources managers earn a median income of $116,720. However, that number doesn’t include managers whose jobs revolve around compensation, benefits, or training and development.
Like all fields, the amount that you can make as a human resources professional depends on factors like experience and job title. For instance, the average human resources director earns just over $88,000, whereas a Vice President of Human Resources earns an average of about $137,000, according to PayScale.
Some companies and organizations––especially small ones––may not list a graduate degree as one of their requirements. However, the very top jobs, such as VP of human resources, will likely want you to have both experience and advanced education. If you aspire to a top slot, you should seriously consider earning a graduate degree. If not, you need to determine whether the return on investment—not only in income but also in the improvement to your skills and understanding of your work—is worth it to you.
Questions or feedback? Email email@example.com