The Project Management Institute’s (PMI) recent Project Management Talent Gap Report estimates that a staggering 15.7 million new jobs will be created in the sector by 2020. These roles will be created globally across seven project intense industries: Manufacturing, Business Services, Finance, Oil & Gas, Information Services, Construction and Utilities.
Over the next 7 years there will be an extra 700,000 project management jobs taking the total to just over 6.1 million. PMI also estimates a 37% increase in GDP of project sensitive industries; bringing the profession to $5.81 trillion.
This is all fantastic news for those in or wanting to join the project management profession. Currently in the US, the industries that support the most project management roles are business services (2 million) and manufacturing (630,000). However the most rapid growth industry is healthcare, with over 30% expected growth of project management roles.
The study uncovered a huge difference in the average earning power of those in the project management profession, compared to non-project orientated occupations:
With the expected huge increase in PM roles, this divide is only likely to widen in the future. And if you really want to maximise your earning power…
…Get a project management qualification.
Those holding a PMP (Project Management Professionals) certificate typically earned 16% more than their non-accredited peers in 2011, whilst their salary growth was $2,800 versus $1,700 for the year.
The combination of a huge demand and excellent salaries means that there has never been a better time to get into project management.
PMP exams are based upon the Project Management Body of Knowledge (PMBOK). You can obtain your copy of the latest PMBOK Guide at IT Governance as well as a wealth of resources that will help you study and prepare for the exam.