These in-demand professionals command a high salary and opportunities across industries, according to the Project Management Institute.
By 2027, employers will need nearly 88 million people to work in project-based roles, according to a recent report from the Project Management Institute (PMI). Despite this increased demand, there still aren’t enough professionals available to fill these roles.
Increasing demand for project managers is driven by a number of factors, including the more project-driven global economy, Cindy Anderson, vice president of brand management at PMI, told TechRepublic.
SEE: How to build a successful project manager career (free PDF) (TechRepublic)
“Most organizations are undertaking digital transformations as new technologies change how we work,” Anderson said. “As organizations restructure to focus on value delivery, embed new technologies, and incorporate customer input into operations, there is an increasing need for people who can lead projects of all types in all sectors.”
Seasoned project managers are also beginning to reach retirement age, further increasing the number of open roles in the field worldwide, Anderson said.
Project management could be a particularly lucrative career path for younger employees, Anderson said, as these in-demand positions are often high-paying, particularly for those who go on to earn certifications like the Project Manager Professional.
“As individuals who grew up in a digital environment, they already possess some of the skills needed for success as project professionals—a combination of technical and leadership skills, plus strategic and business management competencies,” Anderson said. “Starting a career in project management can offer substantial opportunity in terms of professional development, salary growth, and having a seat at the table when organizations implement strategy—today and into the future.”
In summary, here are three reasons why younger generations in particular should consider a career as a project manager, according to PMI:
1. There has been a significant uptick in demand for project talent
This is particularly true in quickly developing economies, PMI’s report found. As project management practices expand within industries including healthcare, publishing, and professional services, there are opportunities for a wider range of roles and job openings across industries, according to PMI.
2. Attrition rates
Opportunities are growing, but many current project managers are beginning to retire from the workforce, PMI found. This creates an even greater jobs outlook for skilled projects professionals.
3. The career is financially rewarding
In the US, project management-oriented workers were 82% higher than those of non-project-oriented professionals. The talent shortage in the area makes salaries even more competitive, PMI noted.
The median project manager salary in the US for those with a PMP certificate was $112,000 as of 2017, according to PMI data. That year, the median salary for those without a PMP certificate in the US was $92,000.
For more, check out How to become a project manager: A cheat sheet on TechRepublic.