Masters in Human Resource Management | MS in HR
Best Universities in the world for MS in HR
An organization may typically not list the monetary value of its workforce on its annual balance sheet, but that can hardly put a dent on its worthiness as a tangible asset.
Human capital, the condensed name for all that an organization benefits from in terms of its employee skillset, education, training, punctuality, loyalty and even job satisfaction, is the foundation of its success.
Physical capital such as equipment, financial assets, etc. don’t fall under human capital. Instead, it drives knowledge economy – an economy’s resource for talent, education, knowledge, competence and other skill based evaluations that are dynamic in nature.
Studies have shown, over the years, a significantly positive relationship between production and human capital. Research has indicated that education of workforce can increase GDP per capita.
There is way more beyond this first scratch on the topic of human capital. And therefore its management can significantly alter the overall value of an organization.
In fact, Human Resource Management has been quantitatively linked (directly or indirectly) to improved financial outcomes in terms of net margin, organizational outcomes in terms of client satisfaction and human resource outcomes in terms of absenteeism, employee turnover and growth.
In this article, we will explore how to gain an expert training on managing this human capital for an organization – MS in Human Resource Management.
MS in Human Resource Management – Curriculum
Most graduate level courses in HRM focus on building the skill level in human resource concepts, technical aspects, interpersonal relationship and communication. This comes along side other management training areas in accounting, finance, marketing and operations.
Typical coursework (as obtained from various university HRM course pages) is related to HR Analytics, Organizational Development, Employee Regulation and Talent Management, Employee Compensation, Labor Relations and Employment Law, Modeling in HR Organizational Behavior, Financial Analysis, Staffing, Corporate Strategy, Risk Management at Workplace, Interpersonal Relations Influence and Ethical Leadership, Diversity and Inclusion. International Relations, Negotiation Strategies, and case studies dealing with contemporary HR issues.
They are skilled in interpersonal relationship, communication, problem solving, team work, and all other organizational skills including technical and data interpretation.
All HRM courses are directed at hiring the right suited talent for an organization, their care and development, and at the same time managing organizational development. These programs are based on peer to peer learning techniques aimed at growing ones’ professional network.
Typically, MS in HRM spans a full time period of about 1 year with internship opportunities. Some universities also offer part time study without disrupting ones’ career.
MS in HRM vs MBA
Next comes the much asked MS in HRM vs MBA question. How is an MS in Human Resource Management different from an MBA with HR specialization and which one should you pursue? The answer lies in your response to three questions:
- What is your education background?
- What are your career goals?
- Are the two aligned?
Anyone with an existing business background, wanting to establish or advance their career in Human Resource Management should consider an MS in HRM over an MBA. The MS degree provides a focused study of the field. And hence the need to explore what your career goals are.
If you are determined to have a career in HRM and have the necessary business ground work to pursue the advanced level graduate degree, MS HRM is the answer.
Some programs don’t necessarily require a business undergraduate degree, however, in those cases work experience in the area is preferred.
An MBA is more suited to those who want a holistic approach to business education with the opportunity to choose their specialization through the course, including the option for HRM (Is an MBA in Human Resources (HR) worth it?).
It is also best suited for people from varied education backgrounds looking to establish a new or change careers into a business profession.
However, an MBA remains the most popular business degree and sometimes organizations prefer hiring their HR teams with a wholesome business knowledge.
Job Prospects and Salaries
A degree in HRM can help you land a specialized HR job role such as Human Resource Manager, Diversity Officer, Recruitment Manager, etc. or any top management consultant or strategist role in an organization.
According to the US Bureau of Labor Statistics, employment of Human Resource Managers is one of the fastest growing in the country.
Its demand is expected to shoot up by 6% in the near future with professional, scientific and technical services coveting the largest demand for them. This is followed by management firms, manufacturing, government and healthcare.
In the US, the median annual wage for HRM is over $120,000 USD. The lowest 10% made over $70,000 and the highest over $200,000.
In India, average base salary for HRM is over 13 lakhs INR (~$18,000 USD) which is quite competitive.
In the UK it is about £65,000 per year (~$91,000 USD).
In Canada, it is about $123,000 CAD (~$101,000 USD).
In Australia the average base salary is about $133,000 AUD (~$104,000 USD).
Top B-Schools offering MS in Human Resource Management
| University | Location | Program Name |
|---|---|---|
| Bocconi University | Italy | Master OP – Organization and Human Resources (in Italian) |
| Antwerp Management School | Belgium | Master Human Resource Management |
| Boston University | USA | MS in Human Resource Management (Online) |
| Rutgers School of Management and Labor Relations | USA | Master’s in Human Resource Management (MHRM) |
| Grenoble Ecole de Management | France | MSc International Human Resource Management in the Digital Age |
| Krannert School of Management, Purdue University | USA | Master of Science in Human Resource Management |
| University of Minnesota – Carlson School Of Management | USA | Master of Human Resources & Industrial Relations |
| Erasmus University Rotterdam | Netherlands | Masters Human Resource Management |
| University of Bath | UK | Human Resource Management and Consulting (MSc) |
| Curtin University | Australia | Master of Human Resources |
These are certainly not exhaustive and cover only a few well-known schools offering the Master’s program. MS in HRM is also mostly common outside of the US, where either they are offered as a stand alone MS degree or as a specialization under a Master in Management program.
However, it is a globally recognized degree to land a prosperous career in the Human Resource Management or Consulting industry. We suggest you research your requirements, location and career goals to narrow your school for an MS degree in HR.
If you need further professional help, drop us a line at: info [at] mbacrystalball [dot] com
Also read;
– Guide to MS Degrees
– Specialized Masters Degrees
– Best MBA in Human Resources (HR)
– Best online courses in Human Resource Management
– Vanderbilt MBA (Owen) in HR – Human Resource Management
– Second MBA from Switzerland with scholarship for HR consultant after 30