HR Manager: Salary and Growth as Per Industry and Location
HR Manager is an important profile in every organization. This is the person who is responsible for managing the workforce details, their salary and everything else that is related with their working, promotion, transfers etc. HR Manager is needed in all kinds of industries and businesses and there are lots of variations in the salary depending upon the place where he is working. The present and future of this job are quite promising without any doubt. With time there will be an increase in the demand for more and more people for this profile. Hence, it is very important to know that how much salary is offered to HR Managers in different industries and various locations before sending an application for this job.
This article brings to you concise but complete information concerning remuneration paid to HR managers along with variations and fluctuations. This article also takes into account the future growth aspects of this profile to bring best clarity in terms of how beneficial it is for a person to apply for this position.
The average salary of HR managers across all kinds of industries was around $99,720 per year in the month of May 2012, as per the reports of Bureau of Labor Statistics. Here is a categorization which helped in reaching this average value.
- The ones who worked for smaller companies and did not possess much of an experience formed the lower class which earned less than $59,020.
- The ones who had a Master’s Degree in Human Resource along with valuable experience in the same field formed the highest paid category of 10% employees which summed to an average value of $173,140 per year.
These salaries were made by the individuals who worked for full time during the regular business hours. It also included 30% of all those HR Managers who worked for more than 40 hours per week on a continuous basis.
Salary of HR Manager as per Industry
This is another very important categorization of salary. The amount of earnings by an HR Manager also depends upon the industry in which he or she is working. As per the reports of Bureau of Labor Statistics, the average salaries have been bifurcated as given below:
- Those who were involved in management of companies along with general working earned an annual average salary of $112,550.
- The professional HR Managers, technical and scientific service providers earned an amount of $112,210 every year.
- Those in manufacturing industries earned $97,930 every year.
- Those in government sector made an amount of $92,020 annually.
- Those who are placed with healthcare industries earned $85,870 per year.
Salary as per Location
This is another factor which influences the salary of an HR manager. Having employed in some states helps you earn more money that the other. Here are some of the locations where individuals at this position earn far better than the ones who stay in other parts of the country.
- New Jersey is the location with highest salaries. The annual salary in this area is approximately $137,850.
- Delaware ranks the second highest paying state with $132,260 as the average remuneration.
- Pennsylvania pays on an average $124,590 to individuals on this profile.
- New York pays $124,280 annually for the similar position.
Future Aspects of Growth of HR Managers
This is one of the most important positions in an organization. It is expected that with time the demand for these professionals is going to increase. The expected increase by 2022 is around 13% which is an above average increase compared to other jobs. Hence, the success of those working on the post will depend totally on the growth of the company along with the importance and growth of HR department in the organization. You may have to face quite a lot of competition if you wish to apply for this job as more and more people are becoming interested in this amazing position. But to make a difference, you need to have wonderful understanding of employment laws along with a Master’s degree and some experience which would add on to your resume. The job security is totally dependent upon your performance and your company’s working.
So all these details bring to you complete information on the salaries and expected growth of this position in different industries. Hence, if you wish to apply for this profile, you can very smartly select the location and industry to make sure that you make the best earnings possible.