With the New Year now a month old, it is a good time to take a look at the job prospects for project managers in 2017.
The entire IT industry continues to see robust growth, as Cloud-based services, mobile technology, and other innovations see increased adoption in the business world. An acute need for excellent PMs to help bring these tech initiatives to fruition means it is a robust market for management professionals.
Let’s take a closer look at the employment outlook for project managers over the next 11 to 12 months. Use these insights to help your planning whether you are a PM potentially open to a new opportunity, or your organization is hoping to add management talent in 2017.
The Robust Growth for Project Managers Continues
The Bureau of Labor Statistics (BLS) projects a bright future for project management professionals well into the next decade. The number of employed IT project managers is expected to grow by 15 percent – each year – until 2024. Needless to say, the need for PM talent isn’t expected to abate any time soon.
“Demand for computer and information systems managers will grow as firms increasingly expand their operations to digital platforms. Computer and information systems managers will be responsible for implementing these goals. Employment growth will result from the need to bolster cybersecurity in computer and information systems used by businesses. Industries such as retail trade will work to implement more robust security policies as cyber threats increase,” commented the BLS.
PM Salaries also on the Rise
The BLS reported the median wage for technology project managers to be $131,600 per year as of 2015 – their last report. This outranks the average salaries of managers in most other business sectors. The laws of supply and demand dictate that PM wages will continue to rise as the need for IT managers increases over the next 8 to 10 years.
While other crowdsourced websites, like Glassdoor and PayScale report lower average salaries when compared to the BLS, experienced and talented PM professionals should expect to be well compensated – most likely in the six-figure range – no matter their location. Earning your PMP certification is a great way for project managers to boost their salary potential above the average.
Are you looking for a new job as a project manager?
When you need additional insights on developing your technology project management career, talk to the knowledgeable team at The Ceres Group. As one of the top IT staffing agencies in the Northeast, we also know what great companies are looking for management talent. Connect with us at your earliest convenience. Contact us or search for a new job here!