Are you already planning to start a career in project management & confused about where to begin from? Well, in this case, this article is the ideal pick-up. Here, you will learn the project manager career path and salary details for 2022.
The article mainly aims at describing the roles and responsibilities of a project manager. It also briefs project managers’ qualifications and their roles and responsibilities. By the end of the article, you will have had enough of how to become a project manager.
Why opt for Project Manager Career 2022?
This is a question that must be answered before diving deep into the article. Project management is a rewarding career path as it offers job security and a lucrative salary. The project manager career path is all about handling the project. As a project manager, you need to organize, plan, and execute plans for a business/venture. Frankly speaking, the job role is easy and enthusiastic.
Project managers are the professionals who lead a project camping. These professionals enjoy a high salary range, i.e., 20,200 INR per month (minimum salary) to 62,600 INR per month (maximum salary).
Project management is an ability, it’s an art! The project manager career path requires an individual to possess a certain skill set. Some of the top skills to be a good project manager are as follows-
1. Communication Skills
A project manager has to communicate his/her idea to the team. And, hence, the primary skill required to be a project manager is to have practical communication skills. Communication skills count in both written and verbal skills.
Project manager salary increases to significant figures with fantastic communication skills. To be a good project manager, you need to impress your clients and stakeholders. You can do this only via written and verbal skills.
2. Leadership Skills
Leadership is a requisite skill for project management qualifications. A project manager is held responsible to lead the team. Hence, good leadership skills are of utter importance. Leadership skill is all about helping and encouraging other team members.
3. Critical Thinking
Critical thinking is another skill that’s a must in the project management role. A project manager must be capable of thinking critically. This means he/she should be able to analyze the problem and offer a relevant solution to the business project.
Critical thinking skills help a project manager organize data properly, help in the decision-making process, identify workflow inefficiencies, and improve management techniques. Project manager qualifications stand nowhere without critical thinking skills.
4. Logical Negotiation Skills
Logical skills are another required domain in a Project Manager position. As a project management team, you need to be an expert at negotiating contracts. Negotiation adaptability is to assist a business in its extraordinary events, thereby offering standard logical solutions.
5. Potential Risk Management
Managing risk is both thrilling and challenging. A project manager needs to manage risks in many parts of a particular project. A good project manager could easily pinpoint risks and manage the same. He/she must possess risk management skills to maximize the output from the project.
6. Project Management Certification
A couple of ways of getting certified include:
PM/BA
Procuring a degree or certificate from a proper undergrad and graduate education.
PMP (Project Management Professional)
Given by the Project Management Institute (PMI), this is a globally perceived certification.
Agile/Scrum
Get prepared and certified by associations, similar to the Scrum Alliance.
Top Project Manager’s Qualifications
Now that you are well aware of the project management skills, let’s learn about the qualification requirements. The place to start for an individual in project management is to earn an undergraduate degree in management.
To pursue a career as a project manager, a bachelor’s degree is quite essential. An undergraduate degree provides the candidate with a background in reproving areas – management and human resources skills. Furthermore, a Bachelor’s degree in management enhances communication and interaction skills.
Today, many companies/ventures prefer recruiting candidates with a master’s degree in project management. higher education qualifications, such as Masters, help candidates acquire in-depth knowledge in this particular field. So, you must pursue a master’s degree program before applying for a position as a project manager. Remember, having a higher degree means an increased pay level in this field.
Career Scopes Project Managers 2022
Companies from different sectors look for professional and expert project managers. Below, we have listed some of the areas where a project manager can work. These career paths are lucrative as the recruiters here look for professionals with the best project management qualification.
1. IT Sector
The IT project manager is responsible for designing businesses’ progress reports. The IT sector demands many project managers to prepare & analyze a risk register. The IT project management team reviews business progress with primary employees. Project Manager pay in India in the IT sector ranges between 5.0 Lakhs to 26.0 Lakhs with a typical yearly compensation of 14.5 Lakhs.
2. Healthcare Sector
Healthcare project management is another career path that’s profit-making. Here, the job role is to plan and oversee projects in a healthcare system. Project managers also work in medical centers, hospitals, etc to ensure hassle-free project management. The average monthlypay for a Project Manager in Healthcare is INR 1,52,410.
3. Trading Sector
Trading project managers are held responsible to lead a project or participate in a trading project as a subject. This project management team is responsible to set goals, manage performance, recruit staff, and training staff to promote both individual and team success. The average project manager salary attrading is 30.7lakhs.
4. Banking Industry
Candidates who wish to pursue a career as a finance project manager must have essential skills to develop and manage cross-functional teams. These professionals collaborate with several departments and influence the staff members to complete the projects within deadlines. Project Finance Manager pay in India ranges between 4.1 Lakhs to 35.0 Lakhs with a typical yearly compensation of 13.1 Lakhs.
Project Management Certification
You must consider pursuing project management certification to acquire a lucrative job role in this industry. Think of earning a degree or certification in undergraduate and graduate education programs. You can even pursue certification from a Project Management Institute (PMI).
A project management certification serves as a great career move. This certification is essential to pursuing a career in project management seriously. Remember, these certifications offer you professional experience in managing projects.
Project Manager Salary Overview – 2022
Project Manager compensation in India ranges between 5.0 Lakhs to 26.0 Lakhs with a typical yearly compensation of 14.5 Lakhs. This annual salary is higher as compared to the national average salary in India. The Project Management Institute states that the salary package for a project manager is higher not only in India but also in the United States. The yearly compensation of a project manager in the U.S is $115,000. Job title, years of experience, educational qualification, and certifications determine the annual salary range for a project manager.
Final Thoughts
We hope this article has helped you in understanding the qualifications and career path for project managers in 2022. These skills are of utmost importance when it comes to pursuing a career as a project manager. Skills along with certification can help in building a foundation for a promising career as project manager in the coming times.
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