Although project managers may debate their preferred methodologies, or whether soft skills or technical know-how are more important, the value of project management skills for the future workforce is not in question. In 2017, PMI (Project Management Institute) projected that employers will require an estimated 87.7 million project-oriented people in their ranks by 2027. Plus, with increased opportunities for women, a more flexible approach to implementing processes, and a seriously attractive pay packet for certified PM’s, there are countless reasons to become a project management professional now.
The talent gap: what, where, and just how wide is it?
With a massive projected requirement for project management professionals comes a drawback – for employers, at least. Their increased need for these skilled workers will be met with a not-as-fast-growing availability of PMs, due in part to certain professionals retiring from the world’s workforce. The result for aspiring project-people? A seriously promising smorgasbord of jobs to suit your talents. The healthcare sector in the U.S. alone has a predicted 17% percent growth in the number of available project-oriented jobs, with other leading sectors for job openings including manufacturing, IT and publishing, finance and insurance, plus many more.
But what will this work look like?
Anyone who’s anyone (or rather, has read a few things about current methodologies) knows that the future of project management is agile. This will include blending best practice from different methodologies, and tailoring these to your organization. Agile, by name and nature, is flexible, which will allow you to deliver and adjust projects within a more structured, sequential methodology – like waterfall. Project managers can also expect to see their day-to-day activities made easier with wearable technology (to promote productivity and good health) and the increased presence of AI to help automate tasks. For more on the many ways Artificial Intelligence will shape the Project Management Office, take a look at this great post from ITIL Training.
#WiPM (Women in Project Management)
The divide between men and women in project management-focused roles has sat at a pretty solid 70:30 ratio (in favour of men) for a long time. However, according to data from the APM Salary and Market Trends Survey for 2017, the number of female project managers entering into the profession is currently double the number of men. You only have to hop and Twitter and check out hashtags like #WiPM to find a rapidly growing community of female project professionals learning and working their way through this industry. How can women benefit from careers in project management? Well, beyond the rewarding work, wide variety of positions available and increasing demand for project managers, it comes with financial benefits – which takes us to our next point.
Enough talk – show me the money
Project management isn’t easy work, but you can be expected to be rewarded in more than just new challenges and job satisfaction. In 2017, the project management-based workforce’s wages were 82% higher on average than those outside of these roles and industries. And, 70% of respondents to the PMI’s Project Management Salary Survey for 2017 reported an increase in their total compensation within the 12 months prior to being surveyed. This survey also indicates that PMP certificate holders earn even higher median salaries by an average of 23%.
In summary: there’s been no better time to become a project management professional. The industry is rapidly growing and changing, which means a lot of room for new people and their ideas to step in. What’s clear however, is that being PMP certified largely increases your chances – both in breaking into the sphere and increasing your salary once there. Click here to read more about the benefits of PMP, and get certified today.