PHILADELPHIA-Thursday 23 January 2020 [ AETOS Wire ]
(BUSINESS WIRE)-- The Project Management Institute (PMI) today released its “Earning Power: Project Management Salary Survey” which reveals a significant advantage in earning potential for practitioners who hold the Project Management Professional (PMP)® certification. According to the survey, respondents with a PMP certification reported higher median salaries than those without a PMP certification -- 22% higher on average across the 42 countries surveyed. New in this edition is salary information from five countries not previously covered— Indonesia, Pakistan, the Philippines, Portugal and the Russian Federation.
The 11th edition of the survey incorporates information from more than 32,000 project management practitioners in 42 countries across the globe. The comprehensive biennial survey offers insight into the value of project management skills, experience and certifications. It is an industry-leading source of data, giving project management practitioners a greater awareness of their earning potential -- and helping employers, compensation committees, human resource departments and executive recruiters to better determine salary ranges.
“To fulfill the growing needs of The Project Economy, there is accelerating demand for project management practitioners with the right skills and qualifications,” said PMI President and CEO, Sunil Prashara. “This growing demand and interest in Project Management being a core skill for all enterprises regardless of sector is attracting competitive compensation opportunities. Our Salary Survey is a crucial tool for organizations seeking to fill project management positions, as well as for individuals competing to qualify for those roles around the world.”
Nearly three-quarters of survey participants (72%) report that their total compensation, including salary, bonus and other forms of compensation, increased over the 12 months prior to completing the survey. About one-quarter (28%) reported increases of at least 5% over that time period.
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$132,086), the U.S. ($116,000) and Australia (US$101,381). Similar to median salary variations, the rate of salary increase varies extensively from country to country. However, in virtually all countries included in the survey, salary increases when practitioners are tasked with more responsibility. The most dramatic increase is seen in the Philippines, where the median salary increases ranged from US$17,247 for a project manager I to US$24,524 for a project manager II, and US$36,167 for a project manager III. PMP certification holders demonstrate the largest salary increases in the Philippines and Indonesia -- where they report a median salary over 80% higher than those who do not hold the certification.
About the Survey
The eleventh edition of the PMI Earning Power: Project Management Salary Survey builds on features added for the tenth edition. The PMI Market Research Department continues to evolve this valuable offering to best serve the global project management community. The eleventh edition report is based on self-reported salary information from more than 32,000 project management professionals. The stratified random sampling methodology used for this study results in the ability to report meaningful compensation data for 42 countries. The report includes eight major position descriptions/levels in reporting the data. PMI worked with a third-party research firm, as well as with a volunteer group of PMI members, to make these descriptions as meaningful and “real-world” as possible. The use of these position descriptions to cross-tabulate the data throughout this report makes such information useful to everyone— from entry-level project managers to senior executives in project management. The complete report is available at https://www.pmi.org/learning/careers/project-management-salary-survey.
About Project Management Institute (PMI)
Project Management Institute (PMI) is the world's leading association for those who consider project, program or portfolio management their profession. Through global advocacy, collaboration, education and research, we work to prepare more than three million professionals around the world for The Project Economy: the coming economy in which work, and individuals, are organized around projects, products, programs and value streams. Now 50 years in the making, we work in nearly every country around the world to advance careers, improve organizational success and further mature the project management profession through globally-recognized standards, certifications, communities, resources, tools, academic research, publications, professional development courses and networking opportunities. As part of the PMI family, ProjectManagement.com creates online global communities that deliver more resources, better tools, larger networks and broader perspectives. Visit us at www.PMI.org, www.projectmanagement.com, www.facebook.com/PMInstitute and on Twitter @PMInstitute.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200122005537/en/
+1 610 356 4600 X7030
Permalink : https://www.aetoswire.com/news/pmi-salary-survey-reveals-project-management-practitioners-with-the-pmp-certification-earn-22-more/en