Certified Project Managers earn 33% more than non-certified counterparts — Survey
Project Management Institute (PMI) has released the 13th edition of its Earning Power: Project Management Salary Survey.
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Results show that survey respondents with PMP certification earn higher median salaries than those without PMP certification; 33per cent, higher on average across the 21 countries surveyed.
This latest edition of the biennial publication draws insights from over 20,000 respondents in 21 countries, 78 per cent of whom hold the PMP certification.
This report is a useful resource for professionals applying for project management roles and organisations seeking to fill them, as it helps define the earning power of project professionals around the world.
Compensation
About two-thirds (66%) of the survey participants reported that their total compensation (including salary, bonus and other cash incentives) increased over the 12 months before completing the survey.
The data also shows a broad consensus that the PMP certification is valuable not only for salary growth but also for career development.
“Project management is a fulfilling career and, with the right certification, rewarding too. The PMP certification holds the potential to boost earning power, making it a must-have for professionals.
Viewed as a scarce skill on the continent, PMI is intentional about supporting project professionals with globally recognised certifications at every career stage,” says George Asamani, Managing Director, PMI, Sub-Saharan Africa.
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GDP rebound
With 80 per cent of the countries in the Sub-Saharan region expected to perform strongly in 2024 (IMF), Ghana’s overall GDP growth is projected to rebound to 2.8 per cent, 4.7per cent, and 4.9per cent, in 2024, 2025 and 2026, respectively.
The projections are pegged on the recovery of the mainstay agricultural sector, mining and metals, construction, etc.
“With the medium-term outlook looking good, companies across all sectors are increasingly recognising the importance of project management to deliver results and drive growth.
This growing awareness has heightened the demand for certified project professionals,” says Frank Owusu-Asamoah, PMP®, President, PMI Ghana Chapter.
“In a volatile, uncertain, complex and ambiguous (VUCA) business environment, the hiring of PMP-certified project managers has emerged as a strategic imperative for companies.
Their expertise spans critical areas such as strategic decision-making, risk management and adaptability to change, all of which are indispensable in a VUCA world”.
PMI’s biennial report, “Earning Power: Project Management Salary Survey”, is an industry-leading source of data for both project practitioners and organisations who want to stay current with the salary landscape for today’s project professionals.
The report is based on self-reported salary information fielded between March and April 2023 from more than 20,000 project management practitioners, bringing accuracy to the salary figures.