Delve into the rising demand for project management professionals and the potential career paths in this field. Discover the industries most frequently employing project managers, and learn how individuals can earn a tech-level salary without extensive tech training.

Key Insights

  • There is a significant talent gap in project management, with the field growing at a rate of nearly 2.5 million jobs per year, predicting a total of 90 million project management jobs by 2027.
  • The average salary for a project manager is around $116,000, more than double the national average salary across all occupations in the United States.
  • Project management offers multiple entry points, allowing individuals with diverse backgrounds and industries to transition into this career.
  • Project managers can specialize in various industries, including training and education, business services, real estate, healthcare, and more.
  • Transitioning to project management from other fields can significantly increase income, as demonstrated by a case where a transition from higher education to project management tripled an individual's income.
  • While the tech industry is known for high salaries, project managers can earn similar income levels without the need for extensive technical training, making it an ideal career choice for individuals whose strengths lie in soft skills.

There is currently a significant talent gap in project management because demand is skyrocketing. An analysis done by PMI in 2012 shows that the demand for Project Managers is growing faster than in other fields. They estimate that there will be more than 90 million Project Manager jobs by 2027, with a current growth rate of nearly 2.5 million jobs each year. 

Project Managers Earn Double the National Average

According to PMI, the median salary for a Project Manager is around $116,000. 

The average salary for a Project Manager is more than double the average salary in all occupations. The average salary in the United States across all occupations is around $50,000 annually. Project Managers make more than double the national average. 

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Project Management Has Many Entry-Points

Successful Project Managers are required to have many skills, from leadership and management to finance and project management methodologies. Project Managers can grow from many backgrounds and industries. 

There is no single path to becoming a Project Manager. Some Project Managers use experience in a particular industry to launch their careers. `For example, a nurse with experience leading teams might transition into a Healthcare Project Manager. Some Project Managers focus on education over experience by pursuing relevant degrees, such as the new graduate programs in project management. 

It’s possible to pivot into project management from another career. In an interview with CNBC, a Charlotte, North Carolina, Project Manager reported that transitioning from higher education to project management had tripled her income. 

You Can Specialize in an Industry That You’re Passionate About

Project Managers are needed in every industry. You can bring your current industry experience and training into your Project Manager career. 

The list of industries that regularly employ Project Managers is growing as demand continues to increase. Here are some of the industries that most frequently employ Project Managers:

  • Training and Education
  • Business Services
  • Real Estate
  • Healthcare
  • Construction
  • Manufacturing
  • Government
  • Financial Services
  • Legal
  • Engineering
  • Aerospace
  • Pharmaceuticals
  • Consulting
  • Mining and Agriculture

You can combine your passion for aviation or education with project management. 

You Can Earn a Tech Salary without Tech Training

The Tech Industry is known for high salaries. Project Managers make tech-level income without as much need for technical training. Project Managers are generalists with preferred skills like good communication, planning, organization, and flexibility.

CNBC ranks project management in the top five most in-demand non-technical skills. Project management makes it possible for people whose strengths are soft skills to earn a lucrative salary.