Following this.  I had someone in my network reach out to inquire about which one she should pursue as well.  I'm in the same situation with my PHR & SHRM-CP. 

Following.  I am also very interested in this topic.  I have team members looking to obtain their first designation and are not sure which to choose.  I have noticed more HR job postings that cite either HRCI or SHRM certifications as being preferred. 

I have the PHR and will be taking the SHRM. The SHRM is starting to look like the equivalent when you apply for an HR position. Although some companies will request for the PHR, they usually include that an "equivalent" would fine as well. I personally prefer the SHRM because I believe that their test is more relevant to the modern HR world (Personal Opinion only). The PHR is the old standard and isn't the only certification anymore. The people who require JUST the PHR without acknowledging the SHRM-CP are usually companies who have an antiquated HR group who haven't stepped into the 21st century. I would argue that the SHRM-CP is now the equivalent of the PHR and may in time become even more valuable than the PHR. I plan on skipping over the SHRM-CP and going straight for the SHRM-SCP but we will see.