Career Paths for Your Degree in Project Management
Organized and methodical, you like tracking things from conception to completion. You have big-picture vision but a practical streak and a bent toward efficiency. If you see yourself in that description, you could be a great fit for a career in project management.
It used to be that professionals wound up in project management almost by accident. They found out that they were good at the skills required to keep significant undertakings on track, on time, and on budget. The bosses turned to them again and again in such situations because of their record of proven performance.
Today, the world is more complicated. Regulations have increased and global economies are intertwined. That’s why, increasingly, corporations hire employees with MBAs in project management to fill these pivotal roles.
Demand Expected to Grow
Project management is a hot ticket right now, particularly in Information Technology. The Project Management Institute predicts that the profession will grow by $6.61 trillion globally by 2020, with 15.7 million jobs created. An estimated 6.2 million of those jobs will be in the United States, according to institute forecasts.
The salaries are significant, too. Depending on the specialization, certified project management professionals earn anywhere from $65,173 to $149,765 per year, according to national data from PayScale.com. Pay is higher for those with a Master’s in Business Administration, even when compared to a Master of Science. PMI puts its members’ average salary at $98,082 a year.
Numerous Job Opportunities
A Master’s in Business Administration specializing in Project Management can open doors not only in your current company, but in a wide range of industries and with a diverse group of employers.
Organizations, such as the Central Intelligence Agency, major consulting firms, universities, health care companies, and utilities often seek project managers with the right credentials.
Project-driven industries such as construction, engineering, and real estate development are naturals for project managers.
These days, corporations like insurance companies and banks often turn to project managers to help implement new practices or standards.
PMI says most project management jobs are currently in business services and manufacturing. The organization expects that health care will be the leading industry for project management job increases through 2020.
The Value of a Master’s
A project manager with a Bachelor’s degree can learn to do the job. In fact, PMI will allow these professionals to earn certification, but only after thousands of hours of experience and dozens of hours of project management education.
Other credentialing organizations, such as the American Academy of Project Management, allows experience waivers for advanced education. Project managers with Master’s degrees can earn certification through the academy with as little as a year’s experience.
Organizations in most every industry, from government to nonprofits, need project managers. Professionals with MBAs in Project Management will find a fresh job market, plus higher salaries compared to those who hold other master’s degrees.
Written by Ashford University staff.
For more information about on-time completion rates, the median loan debt of students who completed each program, and other important information, please visit: www.ashford.edu/online-degrees/program-disclosures#211.