The Growing Demand for HR Managers
According to the Ohio Michigan Labor Market Information, the demand for human resource managers in Ohio is projected to grow 8.1 percent through 2026 — which is much faster than average compared to other occupations. The growth of human resource management positions is not just limited to Ohio. According to the Bureau of Labor Statistics, the national demand for human resources managers is expected to grow 6 percent through 2029.
If you think about it, the strong demand for human resources managers makes sense. Each year, people start hundreds of thousands of new businesses. Even during the coronavirus pandemic, new business applications have hit record highs. Entrepreneurs need experienced leaders to help them recruit, attract, and retain talented workers. As older HR managers retire, mature companies also need new leaders to manage their human resources functions.
How Much Money Do Human Resource Managers Earn?
The national median salary for human resources managers in 2019 was a hefty $116,720 per year!
A human resources manager's salary will vary based on several factors, including the:
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A company's size, industry, and profitability
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Scope of the job responsibilities
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The employee's professional background, including work history, education, and performance
Management positions such as HR Managers or Employee Relations Managers are also stepping stones for senior and executive management positions, which pay even more. For example, according to the latest annual report from Ohio-headquartered retailer Big Lots, their Executive Vice President for Human Resource makes a whopping $513,600 a year (2019), with attractive incentives that add more to their annual salary!
How to Qualify for a Management Position in HR
Landing a management position at a large, well-respected firm is a challenge. Hiring managers will scrutinize your professional background and accomplishments, as they will likely receive dozens if not hundreds of resumes for open positions paying over $100,000.
Firms usually hire HR managers with at least five years' worth of related experience, as well as a bachelor's degree. But these are just the minimal requirements. Many HR professionals who land management promotions have seven to ten years' worth of experience or more. They've pursued continuing education in conflict management, employment law, and negotiation to be successful. They've also earned recognized certifications from related professional associations to strengthen their skills and resumes.
An MBA provides professionals with a solid grounding in all aspects of the business from marketing to accounting. Understanding how the entire organization works can give you the strategic perspective necessary to become an effective manager. Hiring managers know this, which is why an MBA is often a requirement for many management positions.
Our Online MBA in HR Management Can Help Advance Your Career
Our MBA in HR Management program at Mount Vernon Nazarene University (MVNU) can help deepen your business knowledge and sharpen your problem-solving and analytical skills. Grounded in MVNU's mission to cultivate lifelong learning and service, our program will prepare you to make sound and ethical decisions under pressure. We'll teach you how to develop people-centered solutions to business problems that can help your firm successfully navigate internal and external demands.
You can earn your MBA in 19 months at MVNU, though we also have a fast-track option that allows you to complete your degree in as little as 11 months. Our standard course requirements will give you a firm grounding in all aspects of business operations. You'll also take human resources courses that will prepare you to plan and implement ethical HR solutions at your firm.
