Is an MBA in Human Resources Worth It?

Every company in every industry and every region needs great people. And to recruit, retain and advance those people, they need effective HR leaders. For human resources professionals, that means opportunities are everywhere. According to Lightcast, a leading source of labor analytics, the number of U.S. jobs related to human resources is expected to grow by 9.8% between 2022 and 2032.

Human resources professionals rely on a broad base of expertise, including everything from general business strategy to in-depth knowledge of labor law. One way to develop this skill set is to earn an MBA in HR. This degree can help differentiate you from other job candidates while also preparing you to advance quickly within the field. 

At a Glance: MBA in Human Resources Degree

Master of Business Administration (MBA) programs prepare professionals to take on leadership positions within any type of organization. Their curriculums typically include financial principles, management best practices, marketing strategy and more.

MBAs in HR build on the core MBA curriculum with additional coursework devoted to the skills and knowledge human resources professionals need to thrive in their careers. Focus areas include strategic human resource management, workplace law and organizational development. MBAs in HR typically take one to two years to complete and can be earned full time or part time. Some MBA programs require in-person attendance, while others are available online. Franklin’s flexible MBA in HR is delivered 100% online and can be completed in as few as 12 months. 

What Are the Benefits of an MBA in HR?

An MBA in HR offers numerous benefits and unique advantages compared to other MBA programs and HR master’s programs. Graduates develop the strategic business knowledge they need to operate at the top level of an organization, learn to lead through times of change and disruption and prepare to take on complex roles in an ever-changing business and legal context. An MBA in HR can help you gain the knowledge and confidence to work effectively with boards of directors and other C-level executives and to understand how HR plays into broader business strategy. Since many organizations prefer to promote and hire leaders with an MBA, the degree can open the door to executive positions and higher salaries.

Learn more about the benefits of an MBA in HR. 

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Is Getting an MBA in Human Resources Worth It? 

Any graduate degree, including an MBA in HR, requires a financial investment as well as a significant commitment of time and energy. Before embarking on a degree program, it’s always a good idea to consider your long-term career goals and how studying will fit into your life.

Consider Your Earning Potential

An MBA is a powerful point of leverage when applying for new roles and moving into higher-level positions. At some organizations, a graduate degree is even a prerequisite for moving into executive management. 

Regardless of your specific goals, earning a graduate degree is a powerful way to open up opportunities for long-term salary growth. 

According to Lightcast, for mid to senior-level HR jobs with salaries publicly advertised in 2022, the median salary for jobs requiring an MBA was $116,000, while the median advertised salary for jobs requiring a bachelor’s degree was $90,500. If an MBA helps you to earn an executive-level position, the salary dividends can be even higher. 

Calculate the Cost of Your Degree

The cost of a specific degree program is an essential consideration for most prospective students. According to Fortune, total tuition costs for part-time MBAs often range from $60,000 to $200,000. Full-time MBA programs can cost even more if relocation is required, and the time commitment can make it challenging to maintain a full-time salary.

However, earning a high-quality MBA in HR is possible without sacrificing your financial stability. At Franklin, an MBA costs under $30,000, and the part-time, fully-online format makes it easy to fit the degree program around your career and personal life. 

Estimate Your Potential Return on Investment

Your return on investment for an MBA in HR will depend on the types of roles you hope to hold and the cost of your degree. If your goal is not to advance to mid- to senior-level HR positions, the time and cost of an MBA may not be worth it to you. However, an MBA can have a massive ROI for HR professionals who hope to take on roles with increased responsibilities. The low cost of Franklin’s MBA in HR program and the higher salaries of jobs requiring an MBA mean that the degree can pay for itself very quickly. 

How Do You Know if a Human Resources MBA is Right For You?

An MBA in HR can be a powerful career driver. But is this degree and career the right fit for you personally? Before embarking on an MBA program, take time to reflect on your strengths and passions to ensure this move is right for you as a person, not just for your professional goals. 

While a wide range of skills is necessary for success in human resources, the following traits are particularly important for professionals considering an MBA in HR.

• Analytical abilities: Effective HR professionals need to be able to identify and understand trends within both their organizations and their broader industries. You should be comfortable working with analytics software and making decisions based on data. 
• Critical thinking: Leading a human resources function involves a complex set of responsibilities. You’ll need to be able to make solid, timely decisions that take numerous factors into account. 
• Teamwork: To achieve great results, organizations need teams that can work together well. HR leaders need to be able to use their teamwork skills when collaborating with other company leaders and model strong teamwork for other leaders and individual contributors at all levels of the company.
• Communication: Motivating and developing employees requires leaders who can communicate a company's values and goals to team members at all levels. Communication skills are especially important for HR leaders during times of challenge and change. 
• Flexibility and adaptability: Changes to business strategy and broader economic forces often come with HR impacts. As an HR leader, you’ll help employees confidently navigate uncertainty and transitions.
• Reporting: HR leaders must be able to help other senior leaders make decisions by providing actionable, accurate information about the company’s employee base. Often, that means building reports that draw on both qualitative and quantitative findings. 

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Fulfill Your Potential at Franklin 

However you envision your career in HR progressing, an MBA in HR from Franklin can help you develop the foundational skills and capabilities to reach your goals. 

With eight MBA start dates each year, our online program is here when you're ready. Designed for working professionals, the Franklin MBA in HR can be completed in as few as 12 months, 100% online. 

Our curriculum is rooted in real-world cases and analyses and delivered by instructors who are leading practitioners in the field. You'll build actionable knowledge about theory and best practice in essential areas like change management and labor law, as well as an understanding of business strategy, operations and more. Throughout the program, you’ll gain insights that you can apply right away to your professional career, preparing you to grow faster than you thought possible. 

Learn more about how an MBA in HR at Franklin can help you meet your goals.

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