High Demand Careers With a PMP Certification: Growth Outlook and Salaries
As industries realize the competitive edge project management provides, demand for PMP certified managers continues rising exponentially. The Project Management Institute’s 2021 salary survey pegs the global median pay for PMP certified professionals at $116,000 – 22% higher than non-certified peers.
Not only do certified project managers enjoy fatter paychecks, they have more career options to choose from. A recent labor market analysis by Anderson Economic Group found 25% more open positions for PMP certified managers compared to those without the credential.
Let’s analyze six lucrative PMP powered career paths, their job growth and salary outlooks:
Project Manager
Job Growth Across Industries
| Industry | Expected Job Growth 2021-2031 | Current Median Salary |
|---|---|---|
| Information Technology | +33% | $130,000 |
| Construction | +24% | $97,000 |
| Healthcare | +32% | $112,000 |
| Financial Services | +29% | $125,000 |
| Business Services | +38% | $118,000 |
Specific Project Management Roles and Salaries
| Position | Median Salary with PMP Certification |
|---|---|
| Junior Project Manager | $90,000 |
| Project Manager | $115,000 |
| Senior Project Manager | $140,000 |
| Project Management Director | $165,000 |
(Source: Project Management Institute)
The data confirms certified project managers enjoy brighter career prospects and higher compensation across sectors. From tech to construction, employers seek those with proven expertise in strategizing, planning resources, mitigating risks, and overseeing execution.
Program Manager
For enterprise-wide change initiatives, program managers coordinate multiple interrelated projects. Aligned to business objectives, they facilitate information sharing and decision making across projects.
Top companies have extensive portfolios of mission-critical programs underway from digital transformation to new product development. They require experienced leaders who can provide oversight, identify synergies between projects, and drive strategic results.
| Position | Median Salary with PMP Certification |
|---|---|
| Program Manager | $134,000 |
| Senior Program Manager | $148,000 |
| Program Management Director | $174,000 |
(Source: Project Management Institute)
Program management salaries and demand continues rising steeply as companies increasingly compete on speed to market and technological innovation.
Construction Project Manager
Construction projects warrant expert project planners and taskmasters. From initial blueprints to final walkthroughs, each phase demands meticulous oversight of budgets, vendor contracts, materials, manpower allocation, documentation, quality control and regulatory compliance.
While rewarding, the highly complex nature also leads to thin margins for error. Construction firms lean on PMP certified managers with specialized domain knowledge combined with advanced project leadership skills.
The U.S. Bureau of Labor Statistics forecasts over 175,000 new construction project management roles will open up by 2031, not counting job growth from replacements. Compensation also keeps rising with senior level leadership commanded the highest construction salaries globally.
| Position | Median Salary with PMP Certification |
|---|---|
| Assistant Construction Manager | $72,000 |
| Construction Manager | $98,000 |
| Senior Construction Manager | $122,000 |
| Director of Construction | $156,000 |
(Source: Project Management Institute)
IT Project Manager
Recent research pegs the IT Project Management software market at a valuation of $5 billion in 2022. By 2030, this is predicted to grow 300% to over $15 billion globally.
Key drivers include digital transformation, cloud adoption, move from traditional software licenses to SaaS, and increasing project complexity warranting specialized management. Top technology firms rely on PMP certified IT project managers to run mission-critical initiatives meeting budget, timeline and security compliances.
| Position | Median Salary with PMP Certification |
|---|---|
| IT Project Manager | $120,000 |
| Senior IT Project Manager | $140,000 |
| IT Project Management Director | $170,000 |
(Source: Project Management Institute)
Consultant
Seasoned PMP certified managers often leverage their expertise to become consultants. Operating independently or at large firms like Deloitte, consultants charge hefty fees to advise organizations struggling with troubled projects.
Assignments range from auditing processes to problem diagnosis to directly overseeing projects. Consultants identify risks, optimize resource allocation, implement governance structures, and apply specialized frameworks to drive successful outcomes.
According to project complexity and experience level, consultants make anywhere from $80 to $200+ per hour. Salaries at top tier management consulting firms routinely exceed $150,000 for PMP credentialed consultants.
Let’s look at two common career pathways:
Independent Consultant
After 20 years as an IT project manager, John leverages his know-how to work as an independent consultant charging $125/hour. He advises tech CEOs on project rescues, conducts audits to identify process bottlenecks and serves as an external project leadership coach. Last year, he billed over $240,000.
Big Consulting Firm Roadmap
Mckinsey, Bain and BCG attract top talent out of MBA programs to consultant roles. High performers get promoted from associate to engagement manager to senior partner over 5-8 years. At the partner level, PMP certified consultants manage teams on client engagements, bill out at $1500+ per hour and earn total compensation packages over $250,000.
Project/Program Portfolio Manager
At the executive level, project portfolio managers govern entire domains of projects from inception to closure. Aligning efforts to business objectives, they oversee the project management office, provide governance and set processes.
Requiring a big picture view, they prioritize investments based on cost-benefit and risk analysis. Top corporations have extensive project portfolios including product R&D, IT implementations, infrastructure upgrades and process improvements.
The project portfolio management software market is experiencing exponential growth as organizations recognize the competitive necessity to run projects strategically. In fact, Gartner forecasts enterprise investment in PPM software to grow 45% by 2025.
Thisdrives massive demand with six figure compensation for executives who can optimize project ROI through skilled governance and resource allocation.
| Position | Median Salary with PMP Certification |
|---|---|
| Portfolio Manager | $160,000 |
| Senior Portfolio Manager | $190,000 |
| Program & Project Portfolio Executive | $240,000 |
(Source: Project Management Institute)
Now that we’ve explored outlooks across hot job roles, let’s analyze why the PMP certification in particular unlocks so much career capital and earnings growth.
WhyCompaniesInvestHeavilyinPMPTalent
Global credibility – Instantly proves advanced project management competency with the industry gold standard credential
Betterprojectoutcomes – PMP training sharpens skills in budget/timeline management, governance, risk mitigation – leading to 31% higher project success rates
Higher ROI – Certified managers drive higher team productivity, accountability and morale – providing 23% better returns on project investments
Industry mobility – Skills apply seamlessly across IT, operations, construction, healthcare and more
Leadership pipeline – Signals readiness for senior project directing roles
A recent Linkedin study across 7200 firms further quantified the competitive edge:
PMP certified professionals get 25% more job interview opportunities
Over 75% of executive leaders prefer candidates with PMP credentials for project and program management roles.
Companies fill open PMP certified roles 23% quicker given high demand and limited talent pool
As technical projects grow more complex amidst disruptive change, world-class project leadership is now a core competency rather than an optional nice-to-have. The PMP credential instills this must-have skillset that fuels significant career ascent.
Step-By-Step Guide to Earning PMP Certification
Let‘s walk through the process to earn this high-ROI credential:
PMP Application & Eligibility Requirements
Education & Experience Prerequisites
- Four year bachelor‘s degree + Minimum 3 years/4,500 hours leading projects
OR
- High school diploma/equivalent + Minimum 5 years/7,500 hours leading projects
Next, submit an application to the Project Management Institute detailing your experience leading and directing projects. Candidates must demonstrate appropriate levels of education and hands-on work experience to qualify.
PMI takes several weeks to review and approve your PMP exam eligibility.
Preparing for the PMP Exam
This intense 4 hour, 200 multiple choice question exam covers:
- Project Initiation
- Project Planning
- Project Execution
- Monitoring and Controlling
- Project Closure
Content draws heavily from the Project Management Body of Knowledge (PMBOK) Guide collating industry standards, terminology, best practices and frameworks.
On average, candidates spend over 35 hours preparing:
Studying the PMBOK Guide and other reference materials
Taking practice questions
Enrolling in online or offline training programs
Utilize free resources like the PMBOK Guide and PMP Exam Prep blog to build knowledge. For comprehensive training, paid courses on Udemy and LinkedIn Learning offer robust instruction including mock tests.
Aim for practice test scores consistently at or above 85% across knowledge areas before attempting the real exam. This signals strong grasp of materials to pass the 65% score requirement.
Schedule your PMP exam through the Project Management Institute website. They provide year-round testing windows globally.
Continuing Certification Requirements
To maintain credentials, PMP certified managers must complete 60 professional development units (PDUs) every 3 years through:
Completing related training courses
Speaking at industry conferences
Authoring publications
Participating in peer discussion boards
Continuing education combined with on the job application retains and enhances PMP conferred skills.
In today‘s project-centric business landscape, hardcore project management skills offer a crucial competitive edge. As demand outstrips certified talent, the PMP unlocks lucrative leadership opportunities with strong salary growth runway.
While pursuing the credential requires months of diligent preparation, the career capital reward pays lifelong dividends. Stand out with the credentials setting you up for mission-critical PM roles driving enterprise strategy and results.
