Project Management is one of the most popular career paths. There are many reasons for it being the choice of many. In this post we tried to list down the top 5 reasons why Project Management is a popular career choice.
HUGE IMPENDING DEMAND
As per the PMI report on Project Management Job growth and Talent gap 2017-2027
- 2.2 Million new project-oriented roles are required each year through 2027.
- 87.7 Million total individuals needed in project-oriented roles by 2027.
Further, the Project Management job openings between 2017-2027 in 6 leading sectors are
- Manufacturing & Construction – 9.7 Million,
- Information Services and publishing – 5.5 Million,
- Finance and Insurance – 4.6 Million,
- Management and Professional Services – 1.7 Million,
- Utilities – 279,000,
- Oil & Gas – 49,000
All this data makes it very clear that, the current and future job prospects for PM roles is very high.
ROUTE TO HIGHER LEADERSHIP
Project Management career path is definitely a route to Organizational leadership. A Project Manager can be considered as CEO of his project. Whatever responsibilities a CEO handles at organizational level, a Project Manager handles at the project level. That’s why many consider a Project Manager role as CEO training or leadership training.
As per PMI 10th Project Management salary survey, 2018, the median total compensation of a project manager by country is –
- USA $120,000,
- India INR 19,00,000 ($27,500),
- China ¥ 240,000 ($35,700),
- UK £ 72,000 ($96,000).
According to Glassdoor, the current average salary of an entry level project manager in USA is $69,848.
In the U.S. in 2017, wages of PM-oriented workers in projectized industries were far higher on average than wages of non-project-oriented professionals—a premium of 82 percent.
PROJECT MANAGEMENT IS AN INDUSTRY GENERIC SKILL
Project Management and Project Managers doesn’t confine to one skill or one industry. Though the low-level specifics in managing projects may vary by industry, high level Project management skills are industry generic and project managers get to learn a wide variety of skills and industries. You get to learn new technologies, and industries as part of your job, further, you will also be able to develop and horn your people management skills and business skills.
YOU CAN MAKE AN IMPACT
As Project manager you will be in a position to have a direct impact on various aspects of an organization such as people, profits, customers etc. Further, you will be handling a variety of problems in your day to day work, which will keep you away from boredom, and also help you learn more and more.