Pay rates for project managers have continued to rise and are higher than before the financial crisis, a new salary survey indicates.
According to the Project Management Institute’s (PMI) sixth project management salary survey, project managers have not suffered income losses, but are earning more than they were two years ago.
How much more depends on factors such as location, experience, and certification level.
Of the nearly 35,000 project managers who responded to the survey, 51 per cent reported an increase in their compensation, with the global median salary reaching $US90,260.
Median salaries in the US, Australia and Germany now exceed $US100,000 for Project Management Professional (PMP) credential holders, the PMI says.
PMI president and chief executive officer, Gregory Balestrero, said although the lessons learned from the downturn won’t disappear soon, the numbers indicate that organisations are starting to get back on track and return to their pre-recession plans.
“In addition, they show that organisations are still willing and able to pay for top project management talent,” Balestrero said. “This is great news for project managers who are looking to extend their careers with new skills, individuals who may be interested in a career change and those who are coming out of school.”
The survey, conducted in 2009, measures salaries across eight position description levels in 19 countries.
A spokesperson for the PMI in Australia says the survey results correspond with anecdotal evidence of increased demand for project managers in the region.
“Out of 22 advertisements for executive level project managers on Seek, MyCareer, and in the Australian Financial Review, six required formal project management qualifications,” the spokesperson said. “This represents the importance of formal qualifications to local employers who are willing to pay for top quality project management.”
PMI members can search for region-specific salary information via a query function on the Web site: www.pmi.org.