Corporate salaries have stagnated due to the global economic meltdown of recent years. You might wonder if it is worth investing in a credential like PMI’s Project Management Professional (PMP)(r) to improve your career and increase your compensation.
This infographic shows the popularity of the PMP in the US for companies looking to hire project managers in IT positions. The median salary you see is for PMP-certified professionals with at least one year of experience. They work across seven American states and have a range of skills, from Project Management to Business Analysis.
Conglomerates prefer PMP-certified MBAs to manage their projects in 2015, followed by MS degree holders with PMP. A PMP and an MBA are a powerful combination that further enhances the individual’s skills.
It’s also worth noting that attending a prestigious college does not hurt in the salary stakes. MBAs from George Washington University have the skills to do the job well and are followed closely by alumni of Pennsylvania State University (Penn State).
While the data suggests that project management is a more lucrative field for men than for women, PayScale’s alternative survey suggests that this disparity will eventually diminish if they have similar experience and abilities.
Silicon Valley is still the most highly paid in the tech industry. Because the Bay Area was the main engine for tech sector growth, Palo Alto, and the surrounding cities, offered huge salaries to offset the high cost of living. The Big Apple is the highest-paid city on the East Coast, and is therefore not far behind.
However, this earning potential is also a function the organisation. General Electric was, however, the highest-paying company in this year’s analysis. However, IBM Corp, HP and Microsoft are the most sought-after companies to work for. Senior Project Managers are highly valued in the IT industry, as evidenced by their hourly salaries of more than US$66. At US$85, the highest hourly wage-paying employer is Bristol-Myers Squibb Company.
The task of a project manager is to ensure that a project is completed on time and within budget. This is not just an IT role. Project managers can work in a variety of roles, including in real estate, law and merger and acquisitions, construction, or in legal. Deloitte is one of the largest employers of project managers to manage their implementation and migration projects.
Google, Twitter, and Facebook have been rated among the most popular organizations to work for. However, HP, IBM and J.P Morgan Chase & Co., Amazon, Dell, and GE are not far behind in terms popularity and the benefits they offer their employees.
According to PMI’s 2015 Global Job Report (PMI), the project management profession will grow by US$6.6 trillion. Nearly 15.7 million new job roles in project-intensive industries will be created. The report states that PM’s will be in high demand in Australia, Brazil China, India, India, and Mexico over the next few years.
PMI salary surveys show that PMP-certified managers earn more than their non-certified counterparts. Can you be a great project manager without a certification. Without a certification suffix, will you lose your ability to communicate, strategise and motivate? These skills will not disappear without a qualification. However, having tangible evidence that you have them shows potential employers your business management skills as well as organisational expertise.
Project management is an ever-evolving field. This makes it even more important in an age of rapid technological changes. 2015 is a year of project management evolutions
