5 Reasons Why You Should Consider a Project Management Career
These days project management career is considered to have a bright future, all thanks to globalization, cutting-edge competition, and a complex business environment. Such economic and industrial changes have brought complex problems that ordinary business people can’t solve. Be it the implementation of new software or developing a new product, everything starts as a project. The individual tasked with making that project successful is the project manager. Taking ideas from concepts to reality is the responsibility of project managers. If you have good leadership and communication skills and love to work around teams, then a project management job is the best possible way to pursue your goals. Also, project management jobs come with lots of perks like an excellent salary, promotion opportunities, chances to travel abroad, etc. Now let us discuss the top 5 reasons you should make a career in project management over anything else.
1) Constant Development
The most significant reason to build a career in project management is that learning never stops. A project manager always stays in a learning circle to find ways to do their job more effectively. Project managers constantly expand and update their knowledge of new technology, business acumen, and target customers to stay on top of their discipline.
A new project comes with a new set of goals and challenges and a new team to work with. Your work will never become boring and you will constantly learn new things with each new project. You also get an opportunity to nurture your communication and leadership skills that you cannot always build in other careers.
2) Sky High Salaries
Project management is undoubtedly one of the highest-paying jobs in the current market. The average salary of a project manager is as high as $135K in countries like the USA and $40K in countries like India. You get to work in a challenging and rewarding job that gives you an excellent salary.
You will not be earning seven figures right from day one but eventually, you will get to the point where seven figures would not be a big deal for you.
Most project managers work in construction, architecture, engineering, or information technology. Your salary will mostly depend on your experience, education, work location, and, of course, the projects you are hired to manage.
Given below are the median salaries earned by project managers in different industries:
- Information Technology project manager: $120,950
- Healthcare project manager: $90,940
- Construction project manager: $82,790
- Business services project manager: $88,075
As per Project Management Salary Survey, 10th Edition by PMI- Certified, project management professionals earn almost 23% higher average salaries than those without a PMP certification.
3) Clear Project Management Career Progression
In project management, you can easily start as a project coordinator and eventually transition to senior roles. With time you will become a project lead and start managing the whole project on your own. If you keep expanding your skills, you will not need many years of experience to manage programs and, eventually, portfolios.
Sounds simple…right? Well, the career ladder in project management is really simple. If you work hard and keep polishing your skills, you will be standing on top in no time. Besides everything, you can always move sideways into various related roles or choose a specialization and become an expert in that one area.
4) Continuously Growing Demand
Growing demand means more job opportunities. In the United States, the Bureau of Labor Statistics predicts that project management jobs will grow by 8 percent annually by 2026. And as per a different report by PMI, there will be almost 87 million job roles in project management in the world by 2027.
According to PMI, one of the reasons for such demand is an aging labor pool, with many experienced project managers getting ready to retire soon. Another primary reason is rapid advancements in technology and an ever-expanding global market. Now you can guess the opportunities you have in project management.
5) Work in a Wide Variety of Industries
Today, project management is more important than ever, and it has been implemented in almost every industry. From medium to large enterprises, every industry constantly needs skilled project management professionals.
Project management jobs are not bound to a specific industry. Project management roles give you the chance to work in a diversity of environments and industries except for a few which need specialized knowledge of the field like IT or construction projects. This augments your chances of landing a job in your preferred industry.
It is always advisable for project managers to develop their core skills in managing specific projects that they also implement across different projects and industries. Besides that, many other industries like entertainment, particularly film and concert touring, are also experiencing an expanding project management presence.
Industries, where project managers can serve, are:
- Oil and gas
- Business services
- Information services
- Finance and insurance
Final Thoughts on the Project Management Career
In summary, project managers are in huge demand and have a very bright future, currently and in the coming age. Project management will always stay relevant in the market even after Artificial Intelligence takes over and automates everything.
If you have big ambitions in your corporate life and want a job where you can constantly learn and improve yourself, then project management is the perfect choice for you. So go ahead and shape your career. And even if you work in a different industry, but your work revolves around planning and executing, you should get a degree in project management and scale your career.