HR is a popular abbreviation for Human Resources. The division of the business is responsible for finding, screening, and training job applicants. HR plays a key role in supporting organisations in dealing with the fast-changing business environment while catering to the greater demand for quality employees in 2023. Employees are the most valuable asset of any company and satisfied and well-trained employees can take an organisation to greater heights. Keep reading this blog to understand the worth of a master’s degree in HR or an MBA in HR.
MBA in HR: An Overview
A Master of Business Administration (MBA) in Human Resources is a two-year post-graduation degree programme that prepares students to recruit people and manage new or existing employees. Human resources is a vast discipline that deals with administrative responsibilities, such as recruiting and hiring, engagement and retention, payroll and compensation, strategy development, and mediating between employees and management.
An MBA in HR is worth it as it allows prospective HR professionals to develop cognitive, interpersonal, and technical skills that properly align with their work. The MBA in HR programme focuses not only on developing knowledge of the HR domain but also gives them access to some competent expertise in marketing, finance, sales, operations, and other management fields.
MBA in HR: Career Progression
The job roles in the HR domain are broadly divided into three categories: HR head, HR Manager, and HR specialist. The HR heads are the top-level authority holder in any organisation, responsible for converting top-level corporate policies into the best HRM strategies. HR managers are responsible for administering and coordinating programmes across various functional areas. Whereas HR specialists are entry-level positions in the HRM division, they organise orientation for new joiners and develop contract negotiations.
Besides these three categories, MBA in HR graduates can operate in a wide range of situations and companies, independent of the sector. Completing an MBA in HR qualifies the graduate for a variety of positions, including:
- Human Resources Manager
- Employee Relations Manager
- Executive Recruiter
- Technical Recruiter
- Human Resource Generalist
- Director of HR Training and Development
- Human Resource Entrepreneur
- International Human Resource Professional
- Compensation Manager
- Human Resource Business Partner (HRBP)
- Senior Human Resources Consultant
Top recruiter of HR MBA
More than 100 employers visit the top and renowned MBA schools every year to hire HR MBAs. The top recruiter of HR MBA graduates are:
- Accenture
- Wipro
- KPMG
- HDFC
- TATA
- Infosys
Salary Prospects of an HR MBA
Pursuing an MBA in HR can ensure high-paying jobs. The average annual salary of an HR MBA graduate in India is around INR 6,42,000. The compensation in this field is typically influenced by experience. An HR manager’s salary can be approximately INR 8,00,000, and INR 14,00,000 for a senior HR manager. At the same time, a vice president in HR can earn an annual salary of INR 35,00,000.
Conclusion
The constantly growing demand for HR professionals is creating lucrative opportunities for HR MBAs by broadening their scope. Therefore, pursuing an MBA in HR is worth it and more with its bright future. If you want to excel in HR, pursuing an MBA with an HR specialisation can be the right degree for you!