Mumbai: Project Management Institute’s (PMI) Earning Power Report reveals a significant advantage in earning potential for PMP certified practitioners. Survey respondents holding the Project Management Professional (PMP) certification report higher median salaries than those without a PMP certification―36% higher on average in India and 23% globally across the 37 countries surveyed.
The Earning Power: Project Management Salary Survey is a comprehensive biennial salary survey that 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.
The 10th edition of the survey incorporates information from more than 33,000 project management practitioners in 37 countries across the globe. The report includes eight major position descriptions and levels in its data, offering important insights on roles ranging from entry-level project managers to senior executives.
“The data provides awareness about how skill level, experience, and project management certifications impact salaries of project professionals across different industries globally and can provide them substantial earning power in a dynamic job market. The data is critical in helping recruiters, human resources, and compensation professionals establish fair and equitable salaries for project management roles within their organizations.” said PMI India Managing Director Mr. Raj Kalady.
In virtually all countries included in this study, having a PMP appears to offer an advantage in terms of median salary; however, the percentage increase in salary varies extensively by country. The PMP certification offers the greatest advantage in South Africa, where PMP holders report a median salary that is 58% higher than those who do not hold the certification. India ranks 6th in the list with 36% earning advantage over those without PMP certification
Earning Power reports salary increases over the past 12 months and lists expected salary increases over the next 12 months. Among its key findings:
· More than two-thirds of survey participants (70%) report that their total compensation (including salary, bonus, and other forms of compensation) increased over the 12 months prior to completing the salary survey. About one-quarter (26%) reported increases of at least 5% over that time period.
· The median salary for project managers varies widely from country to country, with the highest in Switzerland: US$130,866.
· Across all countries, salary increases with added responsibility. The most dramatic increase is seen in Nigeria where the median salary increases from US$13,079 for a Project Manager I to US$20,735 for a Project Manager II and US$30,305 for a Project Manager III.