Well, let me inform you that you have several types of Project Managers from several kind of industries. Whether you’ve always loved using project management software to complete projects, or you’re just really good at communicating with people, staying organized, and leading teams, you’re probably reading this article because you’ve chosen project management as your career path.
Great choice! Project management can be a rewarding career, both mentally and financially. It can be even more lucrative if you earn your project management professional (PMP) certification, which can increase your annual salary by more than 20%.
The question is, which industry do you want to work in?
If the construction, healthcare, or pharmacy industries all equally call to you, or if you’re just wondering in which industry a PMP-certified project manager can make the most money, you’ve come to the right place.
In this article, we’ll look at the top five highest-paying job markets for PMP-certified project managers, along with the average U.S. salary, a brief overview of the job responsibilities, and pros and cons of the role.
Let's take an engineering project manager. Such manager get a $124,000 annual salary and they are one of the smartest persons on the planet and they need to be like that. An engineering project management professional keeps engineers focused on completing the task at hand for project success.
Engineering PMs work with, you guessed it, engineers. They also communicate with clients to make sure the end product is what the client wants. A successful project means guiding the development of a product to completion within a specified timeline and budget.
An engineering project manager has the satisfaction of seeing something very real, useful, and tangible at the end of their project—a large bridge, a new computer chip, or a satellite. On the other hand, the engineering PM must have extensive knowledge of the product they are overseeing, so experience as an engineer in that field may be a prerequisite.
The next one is the Aerospace Project Manager with an average annual salary of $130,000. If you were the kind of kid who built model airplanes and dreamed of flying, but became a project manager instead, a job as an aerospace project management professional might be just what you’re looking for.
Aerospace PMs work with engineers and designers to make sure new aircraft is delivered on time and on budget. Focus areas include risk management and quality control. A successful project means overseeing proposals leading to the development of new aircraft and aerospace systems.
An aerospace project manager gets to work with airplanes and some of the most advanced technology on the planet. Because aerospace projects have a lot of moving parts (like, a lot) there are lots of opportunities for something to go wrong if anything is missed.
And than we have the Pharmaceutical Project Manager with an average annual salary of $$133,000.
Pharmaceutical PMs work with doctors, researchers, and engineers to ensure that research and development activities stay on schedule and on budget. A successful project means overseeing the development of new medication for the treatment of diseases or other health problems.
A pharmaceutical project manager can literally help find a cure for cancer and save millions of lives—talk about a rewarding career. On the flip side, pharmaceutical PMPs need an advanced healthcare degree or experience to approach top-tier salaries. Also, pharmaceutical research can move at a frustratingly slow pace in order to ensure compliance with necessary quality and safety regulations.
And now we come to the consulting project manager. Such person has about $134,000 per year. A consulting project management professional is different from a project management consultant—the first works as a project manager for a consulting company while the second works as a consultant who specializes in project management. We’re talking about the first of the two.
A consulting project manager is the chameleon of the project management universe. The consulting PM could work with environmental engineers one month and sales managers the next. A consulting project manager’s goal depends on the industry of the company they are working with on a case-to-case basis. In general, the goal is to furnish industry expertise and advanced knowledge to the client so that they can be successful in their project.
A career as a consulting project manager is especially rewarding for someone who enjoys variety, as they will be asked to wear every hat from a construction helmet to a computer technician’s… computer hat? However, that same unpredictability could be dizzying for someone who works best in a defined environment.
Resources project managers have an average salary of $135,000 annually and that's not bad. Resources PMs work with farmers, mining, and oil companies to make the process of extracting and growing natural resources as efficient as possible by eliminating waste and improving communication. A successful project means overseeing the procurement of natural resources for efficient delivery to end consumers.
Resources project management offers plenty of opportunities to travel and be outdoors. Because of the specific processes related to each natural resource, background as an engineer in a given field (farming, mining, drilling) may be required.