Today’s world is driven by fast workflows. Management divides every problem into several projects and allows low-level managers to resolve them using various teams. Slowly, but surely, project management is becoming the standard way of executing tasks within assigned timeframes and budget constraints while ensuring that all requirements are met.
Companies need a structured approach to schedule, organize, control, and manage their resources and deliver results efficiently. However, as the demand for skilled project managers increases, there is a widening gap between the number of project management professionals companies and the talent available in the market.
By 2027, businesses will may 87.7 million project management roles vacant worldwide. This means that the US alone will have 8.8 million positions vacant in the coming years. For someone who wants a lucrative career with significant growth opportunities, project management is one of the best fields available for professionals.
Despite that, many promising professionals don’t strive to get into this profession. In this article, we will discuss 10 reasons to adopt project management as a career.
10 Reasons Why You Should Pursue Project Management as a Career
Demand and Future Prospects
As we discussed earlier, PM professionals are high in demand. As PM oriented jobs continue to increase, there will be a growing need for skilled PM workers. Choosing project management as a career puts you ahead of the curve and opens significant opportunities for you.
Higher Compensation
Project management is a field that promises high monetary compensation for work. PM professionals shine in complex scenarios and know how to handle and resolve difficult situations effectively.
The 10th Edition of Project Management Salary Survey reports that the annualized median salary of project managers in the US alone is $120,000. Moreover, managers who clear the PMI’s PMP exam are eligible for even higher salaries.
The same report found that 26% of survey participants enjoyed an increment of at least 5% in the last year, which is extraordinary. When asked about the total salary of participants, it was found that the certified project managers earned 25% higher compensation after earning their certification.
The best thing about this trend was that it remained consistent across all major industries. In fact, managers experienced in agriculture and mining reported that they earned earn $173,000 annually on average, whereas the 75th percentile of respondents earned as much $200,000.
Even project managers in industries with less annual income received substantial incredible salaries with the least paid sector being Healthcare ($130,000 annually). As the research by PMI shows, the PMI certification can set you up for a higher salary regardless of which industry you belong to.
People Orientation
If you are a fan of working with people instead of sulking and working in a corner alone, then project management is the perfect career choice for you. If you are good at managing people, project management can help you push your career to the next level.
Opportunities for People in Varied Industries and Sectors
Many professionals only achieve limited growth because their existing field doesn’t have many opportunities. However, being a project manager allows you to work across major industries and achieve substantial regardless of where you are.
McKinsey and Co. reported that 60% of senior executives consider strong project management skills as an essential part of their future strategy. This means project managers can break the bounds of their existing industry and acquire a more lucrative position in an industry of their choosing.
From digital marketing and IT to construction projects, project managers can thrive in any industry that relies on deliverables. Therefore, choosing project management as a career can open endless opportunities for you.
Prepare Yourself for a Position in Higher Management
The exposure you get as a project manager makes it easier for you to pursue a position in higher echelons of management alike. As you learn to manage people in a project team, you learn important lessons in leadership, communication, resource management, strategic planning.
Starting as a project manager helps you master these essential traits. In other words, if you pursue project management as a career, you increase your chances of becoming a part f high-level management.
Act as an Agent of Change
Project managers must act as agents of change. They must be good at identifying and executing necessary changes after completion of the project wherever it’s necessary. Being able to manage such changes and successfully enjoying challenges is the hallmark of a good project manager.
Is It Necessary to Gain PMP Exam Certification for Becoming a Project Manager?
Although clearing PMI’s Project Management Professional (PMP) certification is not essential for becoming a project manager, it is certainly important for achieving greater growth in that role.
However, one of the requirements for appearing in the PMP exam is 35 hours of project management training verified from a Registered Education Provider (R.E.P.). PMI has enforced this requirement for a good reason. Such online project management training courses help candidates revisit the core foundations of the project management methodology.
It is one of the most efficient ways to learn the key principles, techniques, tools, and practices needed in project management. But for that, you need to give your entire focus and attention to these training lectures.
At the same time, since you are pursuing project management training in an online classroom environment, you will get to prepare for the exam interactively. Not only will it help you prepare for the PMP exam in a defined timeframe, but it will also set the pace for your preparation approach.
Conclusion
In conclusion, adopting project management as a career can be a fruitful decision for any project manager. The demand for project managers is huge and they have a bright future ahead of them. From earning earn handsome packages to maintaining a good lifestyle, project management is the perfect field of learning how to deal with new challenges and learn new things daily.
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