The following extract has been taken from Construction Week Online.
Salaries for project managers are continuing to rise, according to latest research.
The recently released 2013 Project Management Salary Survey revealed Project Management Professional credential holders can earn upward of $15,000 more in certain countries than non-credential holders, with median salaries in the United States, Switzerland, Australia, Germany and the Netherlands exceeding $100,000.
The survey, from Project Management Institute (PMI), is based on self-reported salary information from more than 36,000 project management practitioners and provides a comprehensive look at compensation in the global project management field, measuring salaries across eight major position description levels in 33 countries.
Countries reporting the highest median project management salaries are Australia, Switzerland, the United States, the Netherlands, Germany, Canada, New Zealand, Belgium, Sweden and the United Kingdom.
The 2013 Salary Survey corroborates the findings of PMI’s 2013 Project Management Talent Gap Report, which indicates a significant upward trend in compensation for project professionals, fueled by projected growth of $6.61tr within the project management profession and the creation of 15.7m new project management roles worldwide between 2010 and 2020.
Most survey participants (71%) report that their total compensation (including salary, bonus and other forms of compensation) increased over the 12 months prior to completing the salary survey, with over a quarter (28%) of respondents reporting increases of at least 5% over that time period.
The median annualised salary recorded in the survey, across all countries, roles and experience levels is $88,399. Approximately 75% of respondents earned at least $58,249, and the upper 25% earned at least $116,183.
“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 who have experience and training to pursue certification. Organizations are willing to pay for top project management talent as they recognize the competitive advantages delivered by project management.”