Show me the Money!
Everything we do in life is a project, which makes the Project Manager profession a highly sought-after one. Since project management transcends industries, there are typically numerous open PM positions that people can pursue. The Project Management Institute® projects 22 million new project manager positions by the year 2027. The demand for project management is high. You can realistically find openings inside of any industry.
It’s not just the number of project management positions that are available, but the salaries associated with these jobs that make this profession so popular. According to Salary.com the U.S. median salary for project managers is $138,967. Unless you are a professional athlete or a Hollywood star, anytime the average salary of a profession reaches six figures, people take notice.
Variety of Opportunities for Project Managers
The salary for a project manager can differ based on things like the industry, job location, size of the company, and the individual’s years of experience. Additionally, education, and more specifically certification, can have an even bigger impact on the salary range. According to the Project Management Institute®, there is a 22% difference between a Certified Project Management Professional (PMP®) and someone who is not certified in project management. As a comparison, attaining a Master’s degree (2~ years full-time effort) after having a Bachelor’s will only net you a 19.6% gain!
This large variance has caused people to seek out the PMP® certification as those three little letters after your name could be the difference between getting a job, obtaining a raise, or gaining a promotion. We personally saw a tremendous number of people looking to sit for the exam before year-end 2020. While this could have been to meet EOY goals, it’s also very likely people were looking to take the PMBOK®(Project Management Body of Knowledge) version 6 test before the new version 7 comes out in August 2021.
For those not yet inducted into the PMP® brotherhood, who wish to be, Arrowhead Consulting has your ticket (or secret handshake as the case may be). As an Approved Training Provider for PMI®, Arrowhead has all the updated materials and the tools and tricks you need to pass the version 7 test. Come attend our next PMP® Prep Course and start your journey to a “wealth” of opportunities as a newly minted PMP®.
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