United Arab Emirates, Dubai: Project Management Institute (PMI) has released the 12th edition of its “Earning Power: Project Management Salary Survey,” which reveals the power of continuous education and skill-building in the project management field as it can increase professionals’ earning potential. According to the survey conducted between March and June 2021, respondents holding the Project Management Professional (PMP)® certification reported higher median salaries than those without a PMP® certification 16 per cent higher on average across the 40 countries surveyed.
An industry-leading source of data for both project practitioners and organisations who want to stay current with the salary landscape for today’s project professional, the latest iteration of the biennial report underlines how further learning and training, such as acquiring professional certifications, can benefit professionals’ earnings over the course of their careers.
The survey highlights that in Egypt Project Management Professional (PMP)® certification holders earn a median salary 17 per cent higher than those who do not hold the certification. In Saudi Arabia, certified PMPs are reported to earn 6 per cent more (median salary) than colleagues and peers without the certification.
Findings published in the report also underline that, globally, the salaries of project management professionals tend to increase with higher positions, but the rate of increase varies significantly by country. The most dramatic increases are seen in Egypt and Saudi Arabia, as well as in Pakistan and New Zealand, where respondents demonstrated increases of more than 60 per cent in median salary from project manager I to project manager III.
The latest edition of the “Earning Power: Project Management Salary Survey” provides insights from more than 30,000 respondents, 79 per cent holding the PMP certification. Despite the impact of the COVID-19 pandemic on the global economy, an increase in total compensation (including salary, bonus, and other cash incentives) was reported by half of survey participants over the 12 months prior to completing the survey. Nearly one-quarter (22 per cent) reported total compensation increases of at least 5 per cent over that period.
“As The Project Economy continues to evolve and contribute to the development of increasingly innovative businesses, industries and communities, project practitioners and professionals take on even more important roles in helping to shape life, work and the world as we know it,” said Grace Najjar, Managing Director of PMI MENA. “This has placed a premium on skilled project managers equipped with the tools to build a brighter and even more sustainable future. As such, project professionals are now in greater demand than ever, their expertise commanding highly attractive compensation packages that only grow with more experience.”
“According to our Talent Gap report, the global economy will need 25 million new project professionals by 2030,” said Michael DePrisco, Interim CEO, PMI. “This pressing demand coupled with organisations’ desire to leverage future-proof talent is producing a wide range of competitive compensation opportunities across sectors and geographies. Our Salary Survey is a valuable resource for professionals applying for these emerging project management roles and organisations seeking to fill them.”
The biennial survey offers insight into the monetary value of project management skills, experience, and certifications, giving project management practitioners a greater awareness of their earning potential in a dynamic job market. This critical data can also help employers, compensation committees, human resource departments, and executive recruiters better determine competitive and equitable salary ranges for project management roles within their organisations.
When converted to U.S. dollars using normal exchange rates, median salary varies considerably among project practitioners from country to country. The countries where project practitioners report the highest median salaries are Switzerland (US$140,983), the United States (US$115,000), and Australia (US$113,664).
“As indicated by the Salary Survey report, project managers who are committed to their ongoing professional development and upskilling are in a strong position to seize new opportunities,” said DePrisco. “The data shows strong financial benefits for project managers who are well-equipped to drive change for their organisations.”
© Press Release 2022
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
