Updated October 22, 2021 | Staff Writers
Top Industries Hiring Project Management Professionals
- Information Technology
One of the main advantages of a project management career is that it cuts across several industries. A project management professional enjoys the flexibility to work in almost any company they prefers. The elements of project management are standardized in such a way that switching from one industry to the other is seamless. Here are top five industries hiring project management professionals.
Construction is one of the top industries that require the continued support of project managers. Large and small construction firms often handle a lot of complex projects throughout the year. A project manager in a construction firm plans and executes construction jobs, from the beginning to the end. He ensures that everyone on the site is performing up to their expectation and doing it in a safe manner. He also ensures there is a constant supply of raw materials and resources. A project manager in the construction industry earns an average salary of $87,400 per year.
The financial industry has witnessed an unprecedented growth that has changed the way corporations do business for the past 20 years. Financial institutions have extensively adopted project management principles to keep up with the growth. Projects in the financial sector must be done with great caution and diligence by experts. As a result, most companies require financial project managers who have risk identification and management skills. The managers handle mergers and acquisitions, monitor stock under-writings and make crucial decisions on behalf of the company. The median salary per year is $117,990, which translates to $56.73 per hour.
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3. Information Technology
Technology remains an important job market with no signs of slowing down. The industry outweighs others in employment rates by three to one. Multinational and small companies are increasingly expanding their scope of operations to gain a competitive advantage in the market. This has led to an exponential growth of IT sectors such as OEMs, cloud computing and software development. As a result, there is an increased demand for project managers with a set of skills to monitor and evaluate these IT systems. A project manager in the IT industry helps everyone in the organization learn and develop skills to run IT projects effectively. He comes up with guidelines on how to define schedules, distribute resources, generate project plans and get approvals from the management. An IT project manager earns an average salary of $87,817 per year.
Oil and gas are the leading commodities in the energy sector, which is one of the largest industries in the world. The energy industry is also popular for having some of the largest projects. Without a regular influx of fresh talent to help manage these projects, the industry would quickly stumble. A project manager in the energy sector focuses on policy and program development. He also studies the market potential of the energy firms and evaluates the market trends and influences. An energy project manager earns an average salary of $72,436.
The health sector is growing at an increased rate. To keep up with this growth rate, hospitals and other healthcare facilities are always on the lookout for experts who can help manage various processes. There is a perpetual need for individuals to handle a network of multiple projects that often come up in the industry. A project manager ensures that the aspects of the health sector such as chain networks, resources, material supply, recruitment and the technical team are working properly. A healthcare project manager earns an average salary of $91,293 per year.
Project management professionals will continue to be in high demand due to a wide scale of projects being undertaken in various industries every now and then. The industries discussed above have reported the highest rates of employment for project managers for the past ten years.
Related Resource: The 25 Best Online Master's Programs in Project Management