The latest research from the US-based PMI lists Australia, along with New Zealand, Switzerland, the United States, the Netherlands, Germany, Canada, Belgium, Sweden and the United Kingdom, as reporting the highest median project management salaries.
According to PMI, Australia is one of the countries where PMI- credentialled project managers now command median salaries exceeding US$100,000, or US$15,000 more than non-credentialled pfroject managers.
Mark A. Langley, President and CEO of the Project Management Institute, said the 2013 Salary Survey corroborates the findings of PMI’s 2013 Project Management Talent Gap Report, which indicates a significant upward trend in compensation for project professionals, fueled by projected growth of US$6.61 trillion within the project management profession and the creation of 15.7 million new project management roles worldwide between 2010 and 2020.
Langley said most survey participants (71%) report that their total compensation - including salary, bonus and other forms of compensation - increased over the 12 months prior to completing the salary survey, with over one fourth (28%) of respondents reporting increases of at least 5% over that time period.
Specific findings of the 2013 Salary Survey include:
• The median annualised salary recorded in the survey, across all countries, roles and experience levels is US$88,399
• Approximately 75% of respondents earned at least US$58,249, and the upper 25% earned at least US$116,183
• Project Management Professional (PMP) credential holders can earn upward of US$15,000 more in certain countries than non-credential holders, with median salaries in the United States, Switzerland, Australia, Germany and the Netherlands exceeding US$100,000.
Langley said the median salary varied greatly depending on a number of key demographic factors, including country of employment, position/role, average size of projects managed (including average project budget and average project team size), and number of years’ experience in project management.
“These numbers are great news for project managers who are looking to expand their careers with new skills, individuals who may be interested in a career change and those who are coming out of school or military service and considering what job would best suit their future goals,” Langley said.
“There is a very real benefit for those who have experience and training to pursue certification. Organisations are willing to pay for top project management talent as they recognise the competitive advantages delivered by project management.”