Want to Earn Six Figures? Become a Project Manager
NEWTOWN SQUARE, PA, 16 December 2011 — As employment continues to fluctuate, uncertainty about job stability and the economy is keeping people on high alert. Despite these uncertain times, there is a silver lining for those in one profession that continues to thrive. New research from the Project Management Institute confirms what businesses, job boards and the media have been proclaiming for the past two years: project management is one of the hottest professions out there. According to the PMI Project Management Salary Survey, Seventh Edition, the salaries of project managers around the world continue to climb, indicating not only that project management professionals are in strong demand, but also that organizations are increasingly recognizing the value of trained project managers to their overall business goals.
Location and certification increase salaries
This year, 30,000 project management practitioners in 29 countries responded to the survey. The data was reported across all roles and experience levels.
· The median annualized salary is US$92,000; in the U.S. it is USid=”mce_marker”05,000.
· 71% of respondents reported that their total compensation (including salary, bonus and other benefits) had increased over the previous 12 months.
· Nearly 33% reported increases of at least 5% of total compensation in the last year.
Countries including the United States, Germany and Australia posted average salaries well above the median, each exceeding USid=”mce_marker”00,000. The highest project management salaries in 2011 are reported from Switzerland, where respondents averaged more than USid=”mce_marker”60,000.
The 10 countries reporting the highest median salaries (reported below in US dollars) are:
· Switzerland, id=”mce_marker”60,409
· Australia, id=”mce_marker”39,497
· Germany, id=”mce_marker”10,347
· The Netherlands, id=”mce_marker”09,775
· Belgium, id=”mce_marker”08,750
· United States, id=”mce_marker”05,000
· Ireland, id=”mce_marker”01,635
· Canada, $98,517
· United Kingdom, $96,384
· New Zealand, $91,109
The survey shows that certification, as well as geography, positively affected salaries. Project Management Professional (PMP)® credential holders in the U.S. earned an average of 16% more (approximately USid=”mce_marker”4,500) than their non-credentialed peers in 2011.
Project management is increasingly important to organizations
“These numbers are great news for project managers who are looking to expand their careers with new skills, individuals who may be interested in a career change and those who are coming out of school or military service and considering what job would best suit their future goals,” said Mark A. Langley, President and CEO of Project Management Institute. “There is a very real benefit for those with the experience and training to pursue certification. In today’s volatile economy, organizations are increasingly recognizing project management as a professional competency that provides distinct competitive advantages – and they are willing to pay for top project management talent.”
Created and conducted by PMI’s market research team, the PMI Project Management Salary Survey, Seventh Edition, provides a comprehensive look at compensation in the global project management field, measuring salaries across eight major position description levels in 29 countries. The full report is available on www.pmi.org.
About Project Management Institute (PMI) PMI is the world’s largest project management member association, representing more than 600,000 practitioners in more than 185 countries. As a global thought leader and knowledge resource, PMI advances the profession through its global standards and credentials, collaborative chapters and virtual communities and academic research. When organizations invest in project management supported by PMI, executives have confidence that their important initiatives will deliver expected results, greater business value and competitive advantage. Visit us at www.PMI.org, www.facebook.com/PMInstitute and on Twitter @PMInstitute.