Survey Shows Opportunity for Increased Earning Power for Project Management Professional (PMP)® Certification Holders in India as the Demand for Project Managers Remains High
PMP® Certification Holders Earn 18 Percent Higher Median Salary than Non-Certified Professionals, According to PMI Salary Survey
Project Management Institute (PMI) recently released the 12th edition of its “Earning Power: Project Management Salary Survey,” which reveals the power of continuous education and skill-building in the project management field as it can increase professionals’ earning potential. According to the survey fielded between March and June 2021, respondents from India holding the Project Management Professional (PMP)® certification reported higher median salaries than those without a PMP certification – 18 percent higher.
The latest edition of the survey provides insights from more than 30,000 respondents from across 40 countries, of which 1743 respondents were from India. 85 percent of the total respondents from India were PMP certified. Despite the impact of the COVID-19 pandemic on the Indian economy, an increase in total compensation (including salary, bonus, and other cash incentives) was reported by around half of survey participants over the 12 months prior to completing the survey. Over 40 percent reported total compensation increased by at least 5 percent over that period.
Commenting on the report, Dr. Srini Srinivasan, Regional Managing Director – South Asia, PMI said, “. As organizations across the globe and in India accelerate their digital transformation journey, the need to upskill, in order to deliver projects successfully in a new work ecosystem, will play a significant role. The workforce today needs to brace itself with skills, training and knowledge to command better salary as well as add value to their workplace. With the economy on the path of recovery, the demand for project managers with requisite skill sets is bound to grow. Being equipped with certifications is likely to put project management professionals and changemakers in an advantageous position with better career prospects across industries.
The biennial survey offers insight into the monetary value of project management skills, experience, and certifications, giving project management practitioners a greater awareness of their earning potential in a dynamic job market. This critical data can also help employers, compensation committees, human resource departments, and executive recruiters better determine competitive and equitable salary ranges for project management roles within their organizations.
Key findings from India:
- Project practitioners in India reported a median salary of INR 19,25,800
- Project professionals in India with PMP certification reported a median salary of INR 20,00,000, whereas project professionals without PMP certification reported a median salary of INR 17,00,000
- Over 80 percent respondents are expecting higher compensation over the next 12 months, of which close to 90 percent project professionals are expecting compensation to be increased by 5 percent or more
- Across industries, project professionals from Supply Chain Management and Logistics departments registered highest median salary of INR 24,00,000
- Industry-wise, project professionals from the Real Estate industry reported the highest median salary of INR 24,00,000
- Only 12 percent project professionals in India were offered either stocks (shares) or stock options by their organizations
About the Report
The 12th edition of the PMI Earning Power: Project Management Salary Survey builds on features added for the 11th edition. The PMI Market Research Department continues to evolve this valuable offering to best serve the global project management community. The 12th edition report is based on self-reported salary information from more than 30,000 project management professionals, bringing accuracy to the salary figures. The stratified random sampling methodology used for this study results in the ability to report meaningful compensation data for 40 countries. The report includes eight major position descriptions/levels in reporting the data. PMI worked with a third-party research firm, as well as with a volunteer group of PMI members, to make these descriptions as meaningful and “real-world” as possible. The use of these position descriptions to cross-tabulate the data throughout this report makes such information useful to everyone— from entry-level project managers to senior executives in project management.
About Project Management Institute (PMI)
Project Management Institute (PMI) is the world’s leading professional association for a growing global community of millions of project professionals and changemakers worldwide.
As the world’s leading authority on project management, PMI empowers people to make ideas a reality. Through global advocacy, networking, collaboration, research, and education, PMI prepares organizations and individuals at every stage of their career journey to work smarter so they can drive success in a world of change.
Building on a proud legacy dating to 1969, PMI is a “for-purpose” organization working in nearly every country around the world to advance careers, strengthen organizational success, and enable changemakers with new skills and ways of working to maximize their impact. PMI offerings include globally recognized standards, certifications, online courses, thought leadership, tools, digital publications, and communities.
Visit us at www.PMI.org, https://www.linkedin.com/company/projectmanagementinstitute, https://www.facebook.com/PMInstitute, and on Twitter @PMInstitute.
