subject: Project Manager Salaries : What To Expect Now And In The Future [print this page] We have great news for aspiring and current project managers alike who have wondered about the future outlook of the project manager position. A recent survey conducted revealed some interesting facts about the trends of PMP salaries over the past year. Despite the well-known perils of the global economy, Project Managers have continued to do considerably well. The majority of Project Managers (71%) have reported an increase in salary over the past year. That is not all almost 33% of respondents reported increases of 5 percent or more signifying that the need for project managers continues to grow. These kinds of figures are quite rare for almost any position in this current economic climate and underscore the high premium that corporations place on keeping its leadership happy.
Salary Increases
A project managers salary is affected the most by two factors: education level and geographic location. Project managers with certifications earned more than ten percent more than their peers with less education. This should not come as a huge surprise considering that higher education levels usually signify more knowledge and skills. The geographic location of project managers played an even larger role in ones salary level. Project Managers that worked in say, Switzerland and Germany (the location with the highest salary level for project managers) made up to 60% more than their counterparts in the United States and Canada. Managers looking for the best opportunities for growth in the industry may find themselves looking overseas for their next position.
How to Earn a Higher Salary
These figures suggest what many have long viewed as the key to increasing ones earning potential as a project manager education. Because competition for good project management positions remains fierce, prospects must constantly seek new ways to differentiate themselves from the competition. Keeping adequate and relative PDUs is also important for PMPs. Your earned PDU courses help you keep on top of the latest issues facing PMPs and keep you prepared as well as up to date with PMI requirements. When youre considering a PDU course, keep in mind the topics, how relevant it is to your field and how you might be able to take the skills you learned and apply them to your team. Applying your leadership skills to your team can not only help you earn a higher salary but can be the difference between you and another candidate.
Another way to increase earning potential as a PM is to seek opportunities in other nations. Currently, many of the highest paid Project Managers reside in advanced European countries. Relocation, especially to another country can be a very difficult process, but can also provide fresh opportunities for growth and perspective. This can serve to truly enhance ones career and draw further contrasts between project managers. If nothing else, it should make life exciting and possibly more prosperous.
What to Expect In the Future
The future earning power of project managers continues to be on the upward trend. Corporations are constantly in search of individuals with leadership ability that are able to take on the burdens of large projects. If recent history is any indication, not only will demand for this kind of a position continue to increase, but its earning potential will as well. This should serve as inspiration for aspiring project managers around the world.
