The scope and opportunities are as versatile as any thriving profession in HR management. Besides a lucrative salary, the benefits of an MBA in HR are many for HRs are the backbones of a company. One, who is yet to complete his graduation or school studies and have a little knowledge about MBA, must be wondering one simple question.
What is MBA in Human Resource Management then? In one word, human resource professionals are people who through their managerial and leadership qualities made themselves one of the most sought-after MBA professionals.
Therefore there are more than enough reasons to consider HR management as a specialization. Statistical data shows that in 2021 the recruiting industry will account for roughly 480 million USD of the HR management technology market. The education industry came in second with $240 million. In India, the overall market value of human resources technology was approximately 1.1 billion USD in the same year. This data clearly shows how promising a career can be in this sector.
If you still can’t get an idea from the data mentioned above, worry not. In this article, we’ll dive deeper into the question and examine every possible aspect. This will include the scope, required skills, opportunities, salary, etc. Therefore, read till the next to get the clarity you need.
Various reasons can be listed as an answer to the common query: “what are the reasons to choose HR in MBA as a specialization.” But below are some of the most important and common aspects of it.
Since human resource management is all about dealing with employees of a company, it will always be prominent in every industry, from IT to finance, from big MNCs to small businesses. So, without any wonder, the MBA in HR scope is varied and many.
Human resource professionals are entrusted with several duties including employee management, recruiting, training employees, negotiating salaries and so on. In one word, all employee related aspects are taken care of by HRs.
Therefore, the scope of HRM is pretty high in the market, and hopefully in future too it will remain the same. Companies often want professionals who are efficient in several HR functions. After doing your specialization in HRM, you might want to acquire as many relevant skills as possible to prioritize yourself in this competitive market.
As an HR officer or manager, you need to handle a number of tasks which require some essential skills. While some mandatory skills like good communication abilities and leadership skills are needed, you should also acquire other skills as follows.
Firstly, you need to work on recruitment abilities. Apart from that, employee management is another area where your expertise should lie. Since an HR is also responsible for boosting employee skills and productivity through training programs, your decision making and problem solving skills will help you in these areas.
There are many benefits of MBA in HR. Since HRs are an inevitable part of any successful business, big corporates will always remain in need of skillful human resource staff. According to studies, by 2027, the worldwide HR industry is expected to be worth $38.17 billion.
Hence, the opportunities are many, but the real challenge is to stand out amongst others in this rude competitive environment. Most MBA pass out graduates suffer unemployment due to the lack of necessary skills. Besides developing the above-mentioned skills, you can also acquire additional skills to make yourself a bit unique.
A skilled HR professional is offered lucrative packages by companies all around the globe that is one of the main benefits of MBA in HR. However the salary range often differs because of results, skills, experience or colleges. It is common that colleges with a higher ranking are more likely to be visited by the top corporations. But one can yet grow their practical skills and work experience to outperform others as well.
An MBA student with a specialization in HRM can earn anywhere between 3 LPA to 30 LPA based on the job role and job title. For example, a beginner technical recruiter earns 3 LPA while an employee relationship manager can earn 8 LPA. On the other hand, professionals with higher positions like a training director may earn 25 LPA, or a global human resource might be offered 30 LPA. So what we understand from all these is that the MBA in HR salary is something which sets it apart from the rest of the available set of career paths and make it one of the most desirable jobs out there. You can further check for HR salaries in India for different job roles.
There will always be some people who will keep confusing you by stating various advantages of the other specialization choices. So, before they do, it’s better that we let you know the fundamental differences between HR management and other specializations. From this comparison too you can figure out some reasons why you choose HR in MBA.
|Parameters||HR Management||Marketing||Financial Management||Operations Management||Business Analytics|
|Avg. Salary (as beginner)||6.5 LPA||7 LPA||12.5 LPA||7 LPA||6.8 LPA|
|Opportunity||Huge opportunities for those who take pleasure in assisting others in finding happiness and fulfillment in their job.||Another huge industry with massive opportunities for people who can sell products increasing brand awareness.||Amazing opportunities especially in some particular sectors like corporate banking or corporate finance.||An all encompassing job role that often offers elite job opportunities. It has large scopes and hence large opportunities.||Business analysts are often entrusted with severely critical responsibilities and offered lucrative packages.|
● Performance management
● Industrial relations
● Job analysis
|● Planning & advertising|
● Campaign monitoring
● Multimedia content management
|● Financial report production|
● Profit projection
● Monitoring cash flow
|● Managing resources|
● Risk management
● Crafting and executing strategies
|● Market research|
● Analyzing data
● Identifying needs
● Providing solutions
|Skills Required||● Communication|
● Problem solving
● Project management
|● Strategy and analytics|
● Risk management
|● Decision making|
● Work management
● Interpersonal communication
|● Data analysis|
● Business intelligence
● Computer literacy
|Job Roles||● Recruitment coordinator|
● Employee relations manager
● Human resource assistant
|● Marketing assistant|
● Marketing coordinator
● Marketing manager
● SEO manager
● Marketing VP
|● Financial analyst|
● Finance officer
● Finance manager
● Financial representative
|● Project manager|
● Operations analyst
● Chief operating officer
● Operations supervisor
|● Data analyst|
● Research executive
● Functional analyst
● Budget analyst
International School of Management and Research (ISMR) is one of the top MBA institutions with an interesting placement rate having 400+ placement partners. Our experienced faculties along with the visiting speakers contribute in making the finest MBA professionals in the country. ISMR’s 2-year MBA program offers various specialization choices including Human Resource Management.
The benefits of MBA in HR are many. In our curriculum, the specialization activities start from the second semester and continue until the completion of the course. Affiliated to Savitribai Phule Pune University, ISMR provides marvelous opportunities to MBA aspirants who want to explore and pursue human resource in their career. You can learn more about the syllabus of the Human Resource Management Program from our website.
While MBA is one of the most prestigious courses to get into, HR is one of the most common specializations that provide lucrative opportunities to the students. MBA in HR scope and opportunities are also favorable to the pass out students, though salary largely varies depending on the job roles.
ISMR, one of the top MBA colleges of Pune, provides such splendid placement opportunities to students, though our students also hold an amazing record in off campus recruitment. On our website, every detail concerning the MBA program and specializations is available.