If you are thinking about obtaining an advanced degree in human resources, then you are on the right track. An advanced degree can help propel your career forward with additional training for success.
However, when considering your program, you will have to choose between a simple master’s degree and a full MBA. To make the choice, here is what you need to know about the advantages of a MBA in the modern workplace.
1. Prestige
There are few degrees more respected than a Master of Business Administration. No matter what industry you find yourself in, a MBA will command respect from employers, clients and colleagues. A master’s degree is still an advanced degree that can serve you well in the workplace, but the MBA is going to have more impact. With the job market being as competitive as it is today, every little bit can help. This is why getting your MBA might be a worthwhile choice.
2. Versatility
A master’s in human resources is a very specific degree, which can be great if you want to stay in human resources for the rest of your career. However, if you have aspirations to try other things in the future, you may want to pursue the MBA instead.
Most MBA coursework is broader, requiring students to take classes in different areas of business. This variety gives you extra versatility in your career, providing you with opportunities to explore other career paths after you graduate. The additional coursework may even help you discover business interests you did not know you had, encouraging new career possibilities.
3. Skills
Because a MBA requires a wider range of coursework, you will graduate with a wider range of skills as well. This can help you meet the evolving demands of the modern workplace. When studying for your MBA, you will likely take courses that focus on business organization and leadership. These skill sets will not be examined as closely with a master’s degree, which can be somewhat limiting on the job. After all, a human resources department has to interact with every other part of the company. Therefore, having a broader skill set can only help you in your daily duties.
4. Pay
A master’s degree in human resources is more affordable than a MBA most of the time, but in many cases, the savings do not hold up over time. Workers with a MBA simply earn more than their counterparts with a regular master’s degree. It can be debated as to whether or not this pay gap is fair, but it does exist.
Therefore, if you are interested in earning as much money as possible in your career, the MBA is worth the added investment upfront in order to earn more in the long run.
5. Leadership
If you are pursuing any advanced degree, you are obviously thinking about moving ahead in the workplace. With the leadership skills covered in most MBA coursework, it is usually a smarter choice. A MBA will prepare you with the leadership skills you need to stand out on the job. This small difference can give you the edge not just to get ahead in human resources but in the company at large. A master’s in human resources is focused almost exclusively on the practical and legal concerns in the profession. This information is critical, but it can be more useful when complemented with sound leadership.
While both degree programs can be useful for a prosperous business career, a MBA is a smart choice for your career in human resources.
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