With 15.7 million project management positions expected to be created globally by 2020 according to the Project Management Institute’s Project Management Talent Gap Report, a career in project management can be one of the more recession-proof career paths.
Along with the growth in available jobs, there will also be a significant increase in the economic value of the profession; it is projected to grow by an estimated $6.6 trillion USD globally. And project-intensive industries, including manufacturing, business services, finance, and construction will see the greatest increase.
This enormous growth coupled with higher-than-average salaries means that now is the most opportune time for professionals to get a masters’ degree specializing in project management from New England College. Students looking to position themselves to be attractive to future employers would be well-advised to pursue studies in project management and learn the foundational skills needed for this career.
Growth of Project Management in the United States
A job market that is expected to grow at a double-digit rate means that project management professionals in the United States will be needed to fill over 6.2 million new jobs. This job growth will also mean an increase in the GDP of project-intensive industries of 37 percent, bringing the total economic impact to $5.81 trillion USD.
Higher demand for project management professionals will be reflected in the salaries they are paid, with those holding a professional certification like the Project Management Professional (PMP) earning an average of 16 percent more than those without. In addition, salaries across the profession are growing at a faster rate than the national average across all professions.
Finally, business services and manufacturing, which are the most project-intensive industries in the United States, employ the greatest number of project management professionals, contributing 2 million and 630,000 project management jobs, respectively, in 2010. Business services are projected to continue its lead, while healthcare surpasses manufacturing in becoming the other front runner in growth between 2010 and 2020. Healthcare is projected to increase project management roles by 30 percent – the highest of any project-intensive industry.
Concentration in Project Management
New England College’s Master of Science in Management’s project management concentration teaches relevant project management techniques and theories. And by studying online, students can immediately apply their education to their real-world careers. The comprehensive curriculum builds on students’ knowledge and addresses management areas of communication, management skills, strategic thinking, interpersonal skills, and leadership and their applications throughout the lifecycle of a typical project.