There’s an old adage which states the more you know, the further you can go. Nowhere is this more applicable than the ever-evolving business world, where an industry-current master’s degree can set you apart from your competition. And in today’s age of specialization, it’s possible to pick and choose a graduate business degree specifically tailored to your area of interest.
For example, one of the most in-demand roles in today’s job market is for highly trained, highly skilled human resource professionals. Not so long ago, an HR-focused student would enroll in an MBA program that covered the basics, but in today’s world, HR leadership careers have become a highly specialized, resulting in curriculums tailored to the many roles and responsibilities facing organizations with regard to their employees.
Nowadays, choosing the right degree is a little more nuanced and requires a deep dive into the differences between a more generalized business curriculum, such as a Master of Business Administration (MBA), and one designed to focus specifically on the many skills required of an HR professional, like a Master of Human Resource Management (MHRM).
What’s the Difference Between an MHRM and an MBA?
If your passion is to work with people in today’s complex, highly competitive workplaces, you’ll need a high-level understanding of such hot-button topics as recruitment strategies and labor relations. An MHRM degree will focus on building tools to address today’s most relevant workplace concerns. You’ll study topics and explore issues including recruitment, benefits, labor relations, technology, ethics, and safety through a blend of theoretical knowledge and practical skills.
Pursuing a more generalized career in business requires an advanced understanding of things like management strategies and organizational behavior. You’ll also take courses in economics, finance, accounting, and business ethics. An MBA degree helps prepare students for leadership positions in business by focusing on the knowledge and skills needed to successfully manage organizations in an ever-changing business environment. Some career-focused MBAs will also offer you a range of specializations, giving you flexibility and relevance across numerous industries.
So, MHRM vs. MBA — which sounds like a better fit for your professional interests and goals?
Career Paths: What Jobs Does Each Degree Support?
A career in human resource management can take you in many directions and into companies and organizations of all types and sizes. Even with a master’s degree and many years of experience, it’s important for professionals in evolving fields like human resources to keep up to date with best practices.
With a master’s in HRM through National University, you can expect to gain expertise in hard skills required for HR leadership jobs, like talent acquisition, strategic planning, and finance. Upon graduation, your experience and skill set can prepare you for a wide range of MHRM careers, including HR manager, talent development leader, and employee relations or HR business partner roles.
A market-relevant MBA program helps to prepare students for leadership positions in business by providing them with the knowledge and skills needed to successfully manage organizations. National University’s MBA program lets you drill down further into a specific area of interest by offering concentrations in: Behavioral Economics, Entrepreneurship, Financial Management, Global Business Management, Human Resource Management, Leadership Studies, Project Management, Strategic Marketing, and Supply Chain Management.
When you graduate with your MBA, you’ll enter the employment world with marketable management skills in both domestic and global business settings, effective team building, quantitative and qualitative decision-making, and creative problem-solving. These skills will provide you with what you need to qualify for myriad careers, such as operations manager, general manager, and many business or strategy-focused leadership roles.
Leadership Focus: People Strategy vs Business Strategy
Organizational leadership comes in many shapes and sizes, and the master’s degree you choose to pursue will point your career in a specific direction. Both MBA and MHRM degrees differ in focus. Both will help you build your leadership skills, but the former focuses on a more general approach that will apply to almost any industry, while the latter is specifically designed for HR professionals.
MHRM programs prepare leaders to manage people, culture, and compliance. HR management is the function within an organization that has a strong emphasis on people-focused leadership – recruiting, managing, providing direction, and mentoring them – individually and as part of a particular group within the company. Human resource professionals also help companies overall in developing the best-fitting processes for interactions with potential employees, current employees, and customers based on the company culture.
MBA programs are designed to prepare leaders to manage organizations, finances, and operations. An MBA curriculum will focus more on business strategy leadership. You’ll gain the knowledge and skills you need to successfully manage organizations in the ever-changing business environment. You’ll learn relevant management skills in both domestic and global business settings, effective team building, quantitative and qualitative decision-making, and creative problem-solving skills that you can immediately apply in your professional life.
Skills You’ll Build in an MHRM Program
One of the most critical skills for a human resource professional is interpersonal communication, as the job entails constant interaction with individuals; human resources, at its core, is providing service to others. With a master’s in HRM, you can expect to gain expertise in hard skills like talent acquisition, strategic planning, finance, and more, that are sought by professionals across many industries. Such HR leadership skills can include:
- Workforce planning and talent strategy
- Employment law and ethical decision making
- Performance management and employee engagement
- Advancing inclusion, engagement, and well-being for each community member
Being a critical thinker is also important when it comes to human management resource skills. Whether in screening applicants for open positions, recruiting, or interviewing, HR personnel need to be able to quickly and decisively make decisions and evaluate the pros and cons.
Skills You’ll Build in an MBA Program
Mastering soft skills is a must in the business world. MBA skills like decision-making, digital literacy, and other core components of day-to-day operations are critical and must be addressed by an MBA program. In a highly regarded MBA program, you’ll can gain teamwork experience as you improve your digital literacy. As you complete the program, you’ll be better able to think critically and communicate more effectively. You’ll hone the business management skills that are in demand and ensure success in the business sphere, including:
- Financial analysis and budgeting
- Operations and supply chain management
- Marketing and competitive strategy
- Data-driven business decision making
Successful MBA grads are prepared to manage teams, make data-driven decisions, and lead organizations effectively across a range of industries. You’ll also be able to take all of the aspects of business you learned and readily apply them to your workplace setting.
Salary Outcomes and Long-Term Growth Potential
If you’re planning to advance your education with a master’s degree, you’ll certainly want to consider the potential return on your investment. Graduate degree ROI can be somewhat subjective, but it’s easiest to measure it by comparing salary expectations for careers associated with each type of degree.
If you pursue an MHRM degree, you’ll likely do so after discovering HR managers are in demand in today’s marketplace, and employment for numerous roles are expected to grow faster than the average for all other occupations over the next 10 years. Correspondingly, MHRM salaries are attractive for HR Managers, with the median annual wage hovering around $140,000 and the highest compensated positions reaching $239,000.
MBA graduates have no shortage of career avenues to pursue. Business and management are powerful industries, and projected MBA salaries reflect that. Employees with postgraduate business and management qualifications have reported significant salary growth. In fact, MBA graduates increased their salaries by an average of 70% after earning their degree.
Which Degree Aligns With Your Strengths and Interests?
Choosing a graduate degree can be a stressful, complex decision, but once you’ve done your homework and asked yourself a few simple questions, things start coming into focus. Both an MBA and an MHRM degree can put you in position for career advancement and a salary increase, but there are significant differences in focus between the two.
If you see yourself interested in business operations and financial strategy, an MBA program offers more generalized and business-focused training. If your passion lies in people development and organizational culture and you plan on working in HR long-term, an MHRM can set you up for a people-centric future.
Conclusion
A career in business is versatile, but an MHRM and MBA serve different leadership goals. Senior-level HR occupations, such as human resources managers, involve working with people and require specialized skills, and aspiring HR leaders benefit from a specialized education, such as the MA in Human Resource Management offered by National University.
Senior-level HR occupations, such as human resources managers, involve working with people and require specialized skills that can be gained through an industry-current HR leadership education.
A more generalized business career can be mapped out if you’re interested in business operations and financial strategy. If that’s your goal, NU’s MBA has a greater focus in areas like domestic and global business settings, effective team building, quantitative and qualitative decision-making, and creative problem-solving.
At the end of the day, choosing between an MHRM and an MBA depends on you and your professional aspirations, and your career focus should guide your decision. Whichever direction you decide to go, rest assured that National University offers a market-relevant curriculum designed to help you thrive in today’s competitive business landscape.
This content has been reviewed and approved by the National University Editorial Advisory Board. Learn more about our editorial process.
