Project Management Institute (PMI) has released the 13th edition of its, Earning Power: Project Management Salary Survey. Results show that survey respondents with PMP certification earn higher median salaries than those without PMP certification, 33percent 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, 78percent 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.
About two-thirds (66percent) 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 recognized certifications at every career stage,” says George Asamani, Managing Director, PMI, Sub-Saharan Africa.
“Africa’s economic prospects hinge on various elements and strategies and include policy framework, capacity building, infrastructure, access to resources, technology, and R&D, amongst others. This requires a comprehensive approach involving various stakeholders, including governments, private sector entities, and civil society, working together. The final piece of this puzzle is project management – getting all these role players to deliver successful projects.”
With 80percent 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 2.8percent, 4.7percent, and 4.9percent 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 PPM-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.”
While there can be a monetary advantage to earning the PMP certification, there are other benefits, including the fact that certified project professionals are in significant demand across industries and geographies, and hiring managers are recognizing the value of industry certifications and skills-based hiring. Additionally, earning the PMP certification proves professionals have the skills needed for project success, helping them break into an industry they are passionate about and empowering them to build a career around their passion.
Maintaining the PMP certification proves professionals’ commitment to career-long learning, which is especially important as emerging technologies are becoming part of everyday business.
The PMP certification is one of the most globally recognized and respected certifications in the field of project management. Issued by PMI, the PMP certification is a universally accepted standard that signifies an individual’s expertise, experience, and commitment to the highest level of professionalism in the field of project management.
