How much will I earn? What is my annual salary? However you spin it, knowing our earning potential is important to us (especially in our Western Society). Understanding the numerical value placed upon our skills, experience and certifications is greatly advantageous for organisations and us as individuals.
Knowing the weight placed on this information the Project Management Institute (PMI) takes it upon themselves to provide worldwide biennial statistics on a PM’s Earning Power. Here at QVC, we’ve taken it upon ourselves to provide our readers with the juiciest, most relevant bits.
(For the more visual learner, Info-graphics are available).
- Certifications such as PMI’s globally-recognized Project Management Professional (PMP)® provide a significant advantage (20% higher on average) when it comes to salary and earning potential than those without a PMP certification.
- The median annual salary, across all countries, roles and experience levels, is $81,000 (USD).
- 27% of participants reported salary increases of at least 5% in the year before they completed the survey.
- Number of years of project management experience continues to have an impressive impact on salaries across the globe.
- Australia ranked 2nd in the highest medium salary, with our PM’s averaging $139,037 ($108,546 USD), which is over $27,000 above the worldwide median.
- Australia is ranked 3rd in starting/low experience salaries (< 3 years) with a mean of $89,999 ($70,263 USD).
- In Australia a PMP certification provides a mean salary increase of 18% ($21,000), with professionals holding the certification for over 10+ years expecting an increase of $44,075 from non-certified individuals.
- In Australia Portfolio managers work the longest of us all, averaging 49.4 hours per week, followed closely by Directors of PMO at 48.6 hours per week.
- Most of Australia’s PM’s work in either the Information Technology (26%), Financial Services (10%) or Telecommunication (10%) Industries.
The highlights above are only a fraction of the information available in the complete survey. For more information on salaries and your earning potential, download the full document from The Project Management Institute.