As an employee in the Human Resources department, you get to handle administrative functions and supervise the hiring of new staff. You connect with potential job candidates through the screening process and determine whether they fit the role.

In an ever-changing business environment, HR professionals too can learn to adapt to business demands to ensure the company's success. You may do so while expanding your horizon and advancing your own career through executive education.

One way of progressing in your career is by earning an MBA with a concentration in HR management. This degree can increase your credentials and give you a bargaining chip for higher financial compensation in your current position.

People taking an MBA in HR management are a rarity, but it's well worth the investment. You can gain skills in accounting, finance, statistics, marketing, strategy, and operations. Indeed, the skill set gained through an MBA program opens up different opportunities for you to work in other vital roles. 

Read more: The most vital 'human' skills for HR professionals

The US Bureau of Labor Statistics showed that job candidates with certifications or a master's degree, especially those in HR management, have the best job prospects.

With that in mind, what are the benefits of pursuing an MBA? How can it help advance your career?

Why HR leaders need an MBA

Higher compensation

HR employees with an MBA earn significantly higher pay than those without, according to CollegeData. The US Bureau of Labor Statistics explained that those with an MBA can earn around $105,000 annually. Those who pursue an advanced degree can earn $245,000 every year.

More job opportunities

An MBA in HR management can pave the way for HR employees to fast-track their careers to executive-level positions. When you finish an MBA, you can apply for higher positions such as HR manager, senior manager, Vice President of Operations, or HR director. Each post has its specific task that provides unique opportunities for employees with an MBA. You can even search for a job opening in HR that fits your skill set.

Read more: Digital skills every HR pro should master

More active leadership role

With an MBA, you can play a more active role in running the HR department of your company. You will earn the position to make more decisions in managing the business instead of just completing daily tasks. The skill set you gain will open new doors for you to take on a leadership role in the company.

Getting an MBA in HR management will open plenty of job opportunities for you. Maximise these opportunities for greater success and career development.