As we recover from the turbulent economic times, the project manager job outlook is clearly improving. According to a study published by the Anderson Economic Group, an average of 1.2 million project management positions will need to be filled each year through 2016.
This study found that while there are some areas that have scaled back, such as financial services and the automotive industry, many other fields are expanding, including healthcare, infrastructure development and green technologies. “The demand for project managers is definitely growing,” says Sheree Rulard, senior recruiting consultant for Beeline RPO, a workforce solutions firm with offices in the United States, United Kingdom and Canada. The two main factors contributing to this increased need for project managers are:
In a recent CNNMoney.com survey listing the top 50 best jobs in America, IT Project Manager was ranked at number five. This could be a key opportunity for project managers all over the world. CNNMoney.com also reported that the 10-year job growth is expected to be 16% and graded it a B for job security, future growth and personal satisfaction.How many other fields can say that?
There’s even more good news for project managers, according to Spencer Shaffer, president of IT staffing firm ConsultNet of South Jordan, Utah. Shaffer says that, “Experienced IT professionals and project managers will be landing more assignments because companies will be launching new projects and completing others put on hold.” He expects that many of the IT projects shelved in 2009 will forge ahead in 2010.
That means there will be thousands of projects moving forward now that decision-makers are spending prudently and proceeding with projects cautiously. The Project Management Institute® (PMI®) expects the future to be brighter than you might think, with the global gross domestic product (GDP) in projectized industry anticipated to increase in the United States by $4.5 trillion by 2016. PMI reports that, “Between 2006 and 2016, the number of project-oriented employees will grow by an estimated 8.2 million.” Qualified project managers will be able to benefit from this exceptional employment opportunity.
Although each project manager job description will reflect the specific needs of the company, the project manager will generally plan, coordinate, implement and finalize projects according to the specifications and deadlines, all while keeping the project within budget.
As a project manager, you need to define the project’s objectives, create schedules and oversee quality control throughout the entire project. To deliver the project according to plan, you will also need to attain resources, manage your team and third-party contractors and/or consultants. In addition, you will need to be able to identify, assess and minimize project risks until successful project completion.
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According to the PMI® Project Management Salary Survey, 51% of project manager practitioners reported an increase in their total compensation, with the global median salary reaching $90,260. Project Management Professional (PMP®) credential holders earn upwards of $10,000 more than non-credential holders, with median salaries in the United States now exceeding $100,000.”
On average, Indeed.com reports the average project manager salary for jobs posting nationwide as “21% higher than average salaries for all job postings nationwide.” You, too, can benefit from this highly rewarding and lucrative career. To give you an idea of how profitable this field can be, take a look at these job titles and average salaries for these project management jobs:
|Job Title||Average Salary|
|IT Project Manager||$108,000|
|Senior Project Manager||$105,000|
|Construction Project Manager||$103,000|
|Technical Project Manager||$97,000|
|In USD as of May 12, 2010 according to Indeed.com|
Project managers who want to enhance their expertise and expand their career options achieve industry-recognized certification. PMI offers prestigious project management certifications, including PMP and CAPM®. Certifications are more valuable than ever as they represent a high level of competency and dedication. It has become increasingly common to see PMI certifications as a job requirement. In addition, PMP certification can increase your salary even more:
Gain critical knowledge to lead successful projects with Villanova University’s online Project Management certificate programs. Supporting the latest Project Management Body of Knowledge (PMBOK® Guide – Fourth Edition), Villanova offers the most up-to-date information in a dynamic online classroom. By earning your Master Certificate in Project Management and attaining PMI certification, you’ll be on a clear path to job security, professional growth and better pay. Choose from these online certificate programs:
Gain critical knowledge to lead successful projects with Villanova’s online Project Management certificate programs. Acquire vital project management skills at your convenience and apply what you’ve learned immediately on the job!
Once you’ve earned either a Master Certificate in Project Management, PMP or CAPM certification, enhance your knowledge by obtaining an Advanced Master Certificate in Project Management. You will learn all the latest high-level techniques to lead and manage people and projects, plus you’ll earn PDUs necessary to maintain your PMP certification.