Salary Outlook + Things You Can Do with a HR Management Degree

Today’s changing business environment requires leaders who understand that a company’s people are its most valuable resources. Professionals who earn their master’s in human resources management will develop the knowledge and skills to be a successful leader of any organization.

A human resource management degree will provide you with the full range of human resource topics, including compensation and benefits, law and ethics, and training and development. Also, students develop advanced leadership skills that help them to manage major organizational changes, deal with conflict and build teams effectively.

As the economy continues to gather strength and expand, companies are expanding and new ones are being created. There are many good work opportunities for professionals who are highly skilled in human resources management. Some of the best opportunities today include the following:

#1 Human Resource Manager

Human resource managers are responsible for planning, directing and coordinating the various administrative functions of many different organizations. They are responsible for interviewing, recruiting and hiring new staff, as well as consulting with top executives in the company on strategic plans. They also are a key link between upper management and regular employees.

Some of the common duties of HR managers are:

  • Planning and coordinating the workforce of an organization to suit the talents and skills of the employees
  • Provide a link between employees and management
  • Develop plans and oversee plans for benefits for employees
  • Be a consultant with other company managers to advise them on important HR issues, such as sexual harassment and equal opportunity
  • Supervise and coordinate the work of support staff and specialists
  • Provide oversight of the company’s recruitment, interviewing, selection and hiring
  • Handle any staff issues, including the mediation of disputes and handling disciplinary procedures

Human resource managers also work closely with the top executives in a company to lay out the firm’s strategic plans for the long term. The most important aspects are to maximize value of the company’s employees and to ensure that they are being used in an efficient manner. They may assess the productivity of each worker and make recommendations to the change the structure of the company to meet budget goals.

The job outlook for HR managers is bright, with a 9% increase in jobs expected by 2024. It is thought that more companies are expanding and being developed today, so more HR managers are needed to oversee company programs.

The median salary in this field is $106,910.

#2 Compensation and Benefits Manager

A compensation manager plans, develops and oversees many programs to determine how much a company will pay each employee. Benefits managers are responsible for planning, directing and coordinating retirement plans, health insurance plans, disability policies and other benefits that a company offers to employees. Some of the common duties of these managers are:

  • Setting the pay structure and benefits for the company
  • Determining what the proper wage is for a certain employee; modify or develop compensation plans as needed
  • Evaluate benefit policies and programs for employees to assess if they are competitive, current and legal
  • Choose and manage any outside companies or vendors for benefits, insurance and investments
  • Supervise and coordinate the activities of compensation and benefit specialists
  • Ensure that benefits and pay for employees are in compliance with state and federal regulations

There are some managers who may manage the benefits and compensation for a company themselves. In large companies, these managers may specialize on one area. But both compensation and benefits managers will meet regularly with senior executives and other managers to offer their expertise and recommendations on benefits, compensation and related matters.

Jobs in the benefits and compensation manager field are expected to grow by 6% by 2024, which is about average. Some of these functions are outsourced to contractors by many companies today, so your best job opportunities could be with contracting organizations.

The median salary is $116,000 per year.

#3 Compensation, Benefits, and Job Analysis Specialist

Compensation, benefits and job analysis specialists are responsible for running a company’s compensation and benefits program. They also are responsible for evaluating position descriptions so that details can be determined related to a person’s salary and job classification.

These positions have the following common duties:

  • Conduct research of the benefits and compensation plans for your own and other companies to ensure that the current offerings are fair, competitive and accurate
  • Perform cost and data analyses to compare benefits and compensation plans
  • Evaluate job descriptions to determine the classification and salary of each person
  • Ensure that the company is in compliance with state and federal laws
  • Collaborate with benefit vendors, insurance companies and financial advisors
  • Summarize research and analysis performed in written reports
  • Provide recommendations to human resource executives

In a smaller company, you may be responsible for all compensation, benefits and job analysis. In bigger organizations, you may specialize in one area.

This job will grow by 4% by 2024, which is slower than average. Some companies are outsourcing these jobs to contractors. So, you may find your best job options working for a consulting company.

The median salary as of 2016 was $62,000 per year.

#4 Training and Development Manager

A training and development manager plans, directs and coordinates training programs to enhance the skills and knowledge of employees of a company. They also are responsible for the oversight of training and development specialists.

Some of the common duties of a training and development manager are:

  • Assess the needs of employees for training
  • Align the training performed with the strategic goals of the company
  • Create a training budget and ensure that training spending is within allocated budget
  • Update company training programs to ensure that they are teaching current skills
  • Oversee educational material creation, including online learning programs
  • Review training materials from vendors and choose the ones with the best content

Today’s competitive job marketplace means that companies need to have a more productive and knowledgeable workforce. To attract the best employees, it is important for companies to offer good training programs. This is key to both bring in good employees and to keep them trained with the latest job skills so the company remains competitive.

Employment in this field will grow by a steady 7% by 2024. The median salary is $105,800.

#5 Administrative Service Manager

An administrative service manager is responsible for planning, directing and coordinating supportive services of a company. The responsibilities vary widely depending upon the industry and the size of the organization. Some of the common duties for this position are:

  • Buy, store and provide supplies to the organization
  • Provide supervision of administrative personnel
  • Set deadlines and goals for the company or specific departments
  • Recommend possible changes to human resource procedures or policies to improve the operation of the organization
  • Set up budgets and financial plans for equipment, contracts and supplies
  • Ensure that the facility is meeting health, environmental and security standards

One of the common specialties for people with an HR background in this occupation is records and information manager. This professional is responsible for developing, monitoring and managing the records of a company. They report to top executives, and ensure that employees in the company are following information management guidelines.

The median salary in this field is $90,000 per year, and jobs are increasing at a solid 8% by 2024.

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