As the economy slowly recovers, new opportunities are opening in a variety of industries. Companies are actively looking for qualified applicants to fill high paying skilled jobs. If you are studying for your business administration degree at Minnesota School of Business, or have just graduated, you should consider a career in the growing field of project management.
A recent study by the Anderson Economic Group found that the project management job outlook is improving and growing. The study also found that an average of 1.2 million project management positions would need to be filled annually thru 2016.
Project Manager – Looking Forward
While some industries have scaled back, such as the automotive industry and the financial services sector, many other sectors are expanding. The demand for project managers in healthcare and green technologies is growing. As the government begins to fund infrastructure development projects, there will be an increase in project management positions thru 2016 and beyond. Two factors seem to be driving the growth of project management jobs in the current economy. The first is strong growth in new infrastructure projects worldwide. The second is a shift in demographics as the workforce ages and more workers reach retirement age.
In a recent CNNMoney.com poll of the top 50 jobs, IT Project Manager came in at number five. CNNMoney.com also reported that the ten year projected growth in project management is expected to average 16% annually and gave it grade of B for job security, future growth, and personal satisfaction.
Although each industry’s job description will vary slightly, a project manager generally plans, coordinates, implements, and finalizes projects while keeping in mind technical specifications, budgetary constraints and deadlines.
As a project manager you will define a project’s goals and objectives and then create schedules and oversee all aspects of that project. You will be responsible for acquiring any resources needed. You will also manage your staff and team of outside contractors and consultants. You need to be able to rapidly solve any problems that arise and work towards keeping risks to a minimum until the project is complete.
The Project Management Institute lists the average annual salary for a project manager in the range of $80,000 – $95,000 depending on where in the country you live and work. It is possible to increase that number by as much as $14,000 per year if you become PMP certified. Certification not only increases your annual salary, it can open up increased job opportunities and is worth pursuing.
Your business administration degree can open up a wide range of opportunities in today’s competitive job market. Project management is a growing field that offers a competitive starting salary and personal satisfaction. Pursuing a career as a project manager can offer you not only job security but also a clear path to professional growth.