The Project Management Institute (PMI) has indicated that seven project-intensive global industries will create over 15 million new project management roles in this decade. These seven industries – construction, utilities, manufacturing, business services, finance and insurance, oil and gas, and information services, plus healthcare in the United States – will increase the demand for qualified project managers with PMP Certification by over 12%. The PMI study expects there will be over six million workers in project management roles in the United States by 2020, managing trillions of dollars in projects each year.
How Do I Become a Project Manager?
Many of these project managers will be promoted into their new roles from their current jobs, as subject matter experts, technicians, or administrators. In many organizations, project management is a common alternative to functional or departmental management. As these experts grow in their current roles, they will be groomed for project leadership through a combination of formal training, on-the-job experience, and mentoring.
What is the Salary for a Project Manager?
As you might expect, this growth in the demand for talent is also driving above average salary increases. However, not all project managers are seeing the same salaries. Those who held the Project Management Professional (PMP)® credential earned an average of 22% more than their non-credentialed peers, according to PMI’s annual salary survey. The median salary for project managers in the United States was approximately $81,000.
About PMP Certification
According to PMI, the Project Management Professional (PMP)® is the most important globally-recognized and independently validated credential for project managers, for those who have demonstrated experience and competence in leading project teams. To apply for the PMP, you need to have a combination of experience leading and directing projects and 35 contact hours of formal project management education. The specific number of hours of experience varies, depending on whether you have a four-year degree. Once your application is accepted, you may then sit for the examination. Candidates have four hours to complete 200 multiple-choice questions, based on the PMP Examination Content Outline. (Click image to enlarge)
About CAPM Certification
The Certified Associate in Project Management (CAPM)® is a good entry-level certification for those who are new to project management, or want to complement their professional or technical skill set. In order to sit for the CAPM exam, a candidate needs to demonstrate either 1500 hours of project team experience or 23 hours of formal project management education. Candidates have three hours to complete 150 multiple-choice questions, based on the Project Management Body of Knowledge, Fifth Edition.
A review of job openings on career sites such as Careerbuilder and Monster.com will demonstrate the high value employers place on the PMP credential. But more importantly, it provides credibility for the credential holder, as someone who has mastered the standard processes, vocabulary, and ethical practices of a demanding field of management.