Does a CAPM certificate attract lucrative packages?
Certified Associate in Project Management is intended for individuals with little or no expertise in project management. In order to be CAPM Certified, individuals have to invest and dedicate themselves to the field of project management. There is a lingering question that will likely cross our minds: Will I be compensated adequately if I possess CAPM Certification? Of course, you will. The certificate offers returns in the form of lucrative salaries and various such perks. Many surveys have portrayed project management as one of the highest-paying careers.
The project management labor force is expected to grow 33% by 2027 in seven project-oriented industries. This necessitates the employment of more professionals to fulfill 22 million new project management job roles. As a result, there will be no shortage of opportunities for CAPM professionals. There is ever-lasting demand that raises compensation packages thereby, allowing professionals to negotiate their desired salary. Having a CAPM Certification has proven to increase an individual's salary by 25%.
What is the highest CAPM Salary?
Earning a CAPM certificate significantly increases the professional’s salary. It is stated they can earn an average salary of USD 90,000 a year. However, these may vary depending on location, experience, job roles, and companies. The following are high paying job roles for CAPM Certificate.
- IT project manager: Information Technology field is predicted to increase at a pace of 13% by 2030, exceeding the total growth rate of other professions. CAPM Certification holders can operate in the IT area since they are experts in project management. IT project managers are in charge of managing the process of planning, executing, and allocating tasks related to an organization's information technology (IT). They lead initiatives to adopt new software solutions, expand IT operations, and manage and mitigate risks. USD 88, 853 is the annual average salary of IT project managers.
- Finance project manager: In recent years, the financial industry has seen an increase in the use of project management to enhance effectiveness, efficiency, adaptability, and quality. CAPM professionals are equipped with budget management knowledge. This enables them to simplify repetitive, monotonous, and complicated tasks and extract value from them using key project management techniques. They also boost an organization’s cash flow, long-term investments, costs and revenue, and overall performance. They are paid USD 77, 176 per year.
- Industrial engineering project manager: Industrial engineering is a relatively new field in project management. Jobs for this position are expected to expand 10% by 2030. An industrial engineering project manager assigns duties to each member of the team and sets a timeframe for completing the tasks. They monitor the progress and assign resources as necessary. If issues arise during the implementation of a plan, such project managers investigate to find the best solution. An industrial engineering manager's annual compensation is USD 1,03,523.
- Manufacturing project manager: Project management is tremendously advantageous to the manufacturing business in terms of producing effective and efficient goods. CAPM certified professionals manage project deadlines, schedules, and equipment while also ensuring that safety guidelines are followed and possible risks are mitigated. They also assess new construction designs and examine various production procedures. The average salary of a manufacturing project manager is USD 75,728 a year.
CAPM Certificate holders are in great demand in nations such as United States, United Kingdom, Canada, Japan, and Australia. The table demonstrates how wages for CAPM practitioners vary between nations.
|Country||Salary(local currency)||Salary(in USD)|
|United States||USD 91,000||USD 91,000|
|United Kingdom||GBP 40,000||USD 48,914|
|India||INR 6,80,000||USD 8,597|
|Canada||CAD 60,000||USD 46,960|
|Australia||AUD 88,000||USD 61,966|
|China||CNY 280,000||USD 41,450|
|Japan||JPY 928,000||USD 7,015|
|Brazil||BRL 364000||USD 70,931|
|Germany||EUR 55,000||USD 56,304|
|Saudi Arabia||SAR 168,000||USD 44,731|
|UAE||AED 108,000||USD 29,403|
Top 4 companies offering the best salaries for CAPM certified professionals
CAPM professionals are in great demand in a plethora of industries. Many major corporations, like Google, Microsoft, and Apple, are interested in employing these professionals to manage their projects. Let's see how much a CAPM certification holder makes in the top firms.
Google: Google hires less than 1% of applicants in the field of project management and is thus one of the most challenging firms to get a job. They require individuals with a strong understanding of various product development processes as well as market expertise. CAPM Certificate holders have the potential to secure work at Google as they possess the required skillset. Google pays project managers USD 158,125 per year on an average.
Microsoft: Getting a job as a project manager at Microsoft is tough. To manage several projects, the company expects the project manager to be well knowledgeable in project management approaches and tools. CAPM professionals demonstrate those skills and are qualified for project manager jobs at Microsoft. In addition, they can earn up to USD 144,139 each year approximately.
Dell: Dell Technologies is a great place to work and has a pleasant working environment. It also provides several possibilities for entry-level project managers to expand their knowledge and expertise. The average annual compensation for project managers at Dell is USD 154,728.
HP: HP is an excellent organization for developing individual profiles, and boosting salary packages based on the performance. They recruit project managers who are skilled at managing projects according to their scope, ensuring on-time delivery and within budget. A project manager's average yearly salary at HP is USD 124,888.
The following table may provide candidates with a better overview of the salaries offered by some of the most prominent global companies.
|American Express||USD 113,788|
Being CAPM certified not only enhances an individual's project management knowledge and skills but also their career progression and salary. Therefore, it is wise to invest in CAPM Certificate and obtain long-term profits