Is PM a Good Career? And how well does it PAY?

TL;DR

Project management offers varied, satisfying work, long-lasting employability, and good compensation, making it a great career choice for those who enjoy problem-solving, working with people, and constant learning.

Transcript

are you considering a career in project management if you are you're probably wondering is project management a good career and let's face it you're probably also wondering does it pay well let's see so is project management a good career choice yes next question okay that's great but it also pays to Define terms so what do I mean by a good career ... Read More

Key Insights

• 💦 Project management is a great career choice, offering varied work, employability, problem-solving challenges, and the ability to make a difference in the world.
• ✋ There is a high demand for project management skills globally, leading to high salaries and contracting rates.
• 👻 Project managers have opportunities to work in different sectors and geographies, allowing for a diverse and fulfilling career.
• 🧘 Career progression options in project management include roles such as program and portfolio management, PMO roles, consultancy, and senior leadership positions.
• 📽️ The APM salary and market trend survey provides valuable insights into project management salaries and job satisfaction.
• 😆 Satisfied project managers have seen pay and benefits increase, and they are optimistic about job supply.

Questions & Answers

Q: What qualities make someone well-suited for a project management career?

A project management career suits individuals who enjoy frequent changes in their role or environment, like taking responsibility, solving problems, working with people, and constantly learning. It is not suitable for those preferring routine, certainty, or a relaxed work life.

Q: What are the compensations of a project management career?

Project management offers a satisfying and challenging profession, along with the chance to do good and win respect. In terms of compensation, there is a high demand for project managers globally, leading to high salaries and contracting rates. Furthermore, project management provides opportunities for career progression and expansion beyond core project management skills.

Q: Are there diverse opportunities for project managers across sectors and geographies?

Yes, project managers can work in various sectors and geographies, including contracting or consulting organizations that allow for exposure to multiple sectors. From telecoms to healthcare, project management offers breadth of opportunities and the chance to diversify one's career path.

Q: How well does project management pay?

According to the Association for Project Management (APM) salary and market trend survey, full APM members have an average salary of £67,500. The survey also indicates a range of salaries based on project-related roles, starting at £27,500 for support roles and going up to £125,000 for company directors or board members.

Summary & Key Takeaways

• Project management is a profession that provides varied, satisfying work and long-lasting employability, with plenty of career options and opportunities to make a difference in the world.

• It offers the chance to work with a wide range of people in different contexts, and it is a respected role in commerce, industry, and public service.

• Additionally, project management provides good compensation in terms of high salaries or contract rates, and it is a high-demand profession with a shortage of skilled project managers.