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Masters In Human Resources Careers + Salary
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According to the Occupational Outlook Handbook provided by the Bureau of Labor Statistics (BLS) for between 2016 and 2017, the median annual salary for a manager in human resources is somewhere around $102,780. However, it’s important to remember that when you obtain your master’s or MBA in human resources, the salary you get is likely to vary according to your specialization within the field, where you’re located, and how many years of experience you have. Careers in human resources, and the salaries associated with them differ greatly because they are connected to a wide range of businesses. According to the BLS, the technical consulting and scientific firms may offer the highest salaries. However, It’s important to remember that your options and salary potential will depend on a variety of different factors.
Here are some of the best jobs for people with a graduate degree in human resources, as well as much these careers are expected to pay on average.
Vice President of HR, Chief HR Officer
Starting at the highest paying job out there for professions in human resources, a chief HR officer is responsible for watching over all of the human resource systems, goals, and policies within a company. This expert oversees everything from hiring and recruiting, to training and development, as well as covering issues with contracts, benefits, labor relations, disputes, policy development and more. Professionals in this position can earn up to $214,427 on average.
Human Resources Director
A human resources director takes control of all the human resources-related activities within a company. These might include implementing and creating policies that span the entire company, as well as dealing with issues such as the retention and recruitment of employees, considering issues with pensions, insurance, promotion, the termination of employees, and benefits. HR directors must also study the industry they work in to develop a system for compensation that takes the cash-flow of the employer into consideration, while still attracting necessary talent. They can earn up to $142,860 a year.
Compensation and Benefits Manager
Benefits and compensation managers are responsible for implementing and creating benefits and compensation programs for corporations. These managers use their grasp of corporate policy, benefits, and insurance to select the best programs for their employees. These professionals modify and review benefits and compensation programs to make sure that they enable businesses to retain and attract the best talent. These managers can earn an average of $94,291 a year.
Development and Training Manager
Development and training managers are responsible for managing training and education of employees within a corporation. These professionals organize orientations for new employees, sessions for training for various employees, courses on personal development, and anything else staff members may need to excel in their career. These managers are also in charge of composing the training collateral for staff, such as books and manuals. These professionals earn up to 87,700 a year.
Human Resources Consultant
A human resources consultant helps corporate managers to devise employment structures, policies, benefit issues, performance incentives and anything else that corporations may need help with. These consultants can come in as independent experts to provide insight into human resource problems within a company. This consultant analyzes a company’s human resources situation, as well as its employee and labor relations. They can earn up to $87,000 a year.
Labor Relations Specialist
Labor relations specialists form the bridge between the labor unions that employees get involved with, and the corporations where they work. Labor relations specialists must be experts in state, federal, and local labor issues, so that they can devise contracts which adhere to both the politics and laws of labor. Labor relations specialists must remain constantly updated in ensuring clients are compliant at all times. These professionals may earn up to $83,298 a year.
Executive recruiters, sometimes known as headhunters, search for individuals to fill senior executive job positions, generally in non-profit facilities or corporations. Executive recruiters need to know their industries well enough to be able to convince prospects who are often employed in other companies to come and work at a different company. These people interview candidates for skill and fit, and may earn a salary of up to $78,785 a year.
HR Training Manager
Human resources training managers use their master’s or MBA degree to train and hire employees, advise managers on issues regarding their organizational policy, and develop initiatives such as performance management programs, compensation, and benefits. These professionals engage in data analysis, performance management, project management, employee relations, and organizational developments. On average, they can earn around $68,660 a year.
An account manager is responsible for many things, but mainly the job is to maintain and maximize profitability while ensuring that customer needs are satisfied. This could mean developing new business solutions with existing clientele, or bringing new clients on board. Job seekers with an interest in this role require a good outgoing personality and communication skills. The highest-paying skills are contract negotiation, account sales, and strategic sales, and these professionals earn an average of around $63,147 a year.
Human Resources Manager
A human resources manager supports the growth and operations of a company by watching over daily operations, budget development, and business planning for human resource programs. The responsibilities of these professionals includes dealing with matters like planning, managing and coordinating various aspects of human resource initiatives, compensation, benefits and so on. The highest paying skills in this job include organizational development and performance management, and professionals may earn an average of $63,024 a year.
International Human Resources Associate
An international human resources associate plays a general role within the human resource department of a company, managing matters from a position of global responsibility. These individuals may post job requests for staff, assist in recruiting efforts, review compensation packages, and engage in various other activities. They are often required to be multilingual and live, or have experienced living in the companies their associate focuses on. The average annual salary is around $62,400.
Human Resources Business Analyst
A human resources business analyst implements, determines, and evaluates the metrics of a business to help improve existing and ongoing customer information needs. These professionals communicate complicated data in ways that other people can understand and develop strategies to meet requests and user needs. The average salary in this career depends on where you’re hired, but the median is currently at around $59,876 a year.
Recruitment, Employment and Placement Manager
A recruitment, employment, and placement manager is responsible for overseeing how and when a company will hire new employees. These individuals direct their team towards places where they might be able to find new talent, as well as educate them on techniques for screening candidates or deciding which candidates to pursue. These individuals have excellent communication and interviewing skills and will work closely with hiring managers in different departments of a company. They can earn an average of around $56,110 a year.
A career counselor provides information, guidance, and advice to undergraduates, graduates, and post graduates who need help determining what job to get with their degree. These individuals assist clients in assessing their abilities, interests, skills, and values, so that they can related those to opportunities for employment, training, and even further study. In 2010, the average median salary for career counselors was approximately $53,380 a year.
Human Resource Generalist
A human resource generalist is responsible for watching over the daily human resource tasks that take place within an organization. They generally report to HR managers or directors, and this role may not require a masters in human resources, but it can be a great place to obtain experience while you are working on furthering your education. HR generalists administer employee compensations, training, and benefits, and verify HR documents. The average salary is around $49,329 a year.
What Kinds of Companies Look for Graduates?
The BLS suggests that a number of industries employ large numbers of human resources managers and individuals with extensive human resources educations such as a MBA, including:
- Computer systems design companies
- Employment services
- Hospitals and care facilities
- Local government bodies
- Enterprises and companies
The industries that pay the highest salaries for human resource experts include:
- Financial Investment – $148,390
- Subscription programming – $150,330
- Motion picture and video – $153,910
- Commodity contracts intermediation, brokerage, and securities – $163,110
- Information services – $166,250
What kind of Earning Potential Do People with a Master’s in Human Resources Have?
The BLS suggests that the highest earning ten percent of people in human resources positions that require a master’s level of education may earn anywhere up to $183,590. On the other hand, specialists, recruiters, and various other high-level positions can earn much lower salaries in the region of $60,000 and under.
Resource and References:
- Human Resources – A description of human resources and how it relates to the business sectors and careers of today. (Wikipedia.org)