Project management can be executed across a range of different industries and in a variety of forms. However, successful project managers demonstrate several key qualities such as critical thinking, strategic leadership, sound decision-making, and adaptability.
Earning your master’s in project management allows you to explore ways of becoming a strategic leader while understanding different methodologies that you can carry out for your business.
Top 5 Benefits of Earning Your Master’s in Project Management
Become a specialized expert. An MS in Project Management is a great pursuit for those who are ready to focus on project management as a functional area of their business. The level of expertise obtained through the degree program can position you to become a trusted leader to other stakeholders involved in the business or project at hand.
An education in a specialized area such as a project management allows you to hone in on the fine details—such as pain points, theories, and solutions—within your selected field.
Project management is a growing industry. The Project Management Institute (PMI)® projects that there will be nearly 6.2 million project management jobs in the industry by 2020.* Certified project managers will be especially preferred in “project-intensive” industries such as:
- Finance and insurance
- Oil and gas
- Information services
While salaries are very industry-dependent, the median salary for project managers falls between $68,000 and $84,000, depending on location. Certified project management professionals in the U.S. can earn, on average, more than $100,000.†
Earn your PMP® certification while earning your degree. Walden University’s online MS in Project Management degree program is accredited by the Project Management Institute (PMI)® Global Accreditation Center for Project Management Education Programs (GAC). This means that while studying for your degree, you can also prepare for the certified Project Management Professional (PMP)® exam, offered through PMI.
Successful completion of the PMP® exam is highly respected, and while certification is generally not required for employment, it may help individuals negotiate a higher salary. In 2011, those who held this credential (in the U.S.) earned nearly 16% more than those who did not.†
Pair education with experience. Excellence in project management comes from a combination of knowledge and experience, and earning your degree can help give you both. Through case studies and capstone projects, you can learn from experts in the field as well as gain real-world project management experience.
Job candidates who have a robust portfolio of skills and experience will stand out among other candidates, especially to large corporations held to tight regulations and that handle large-budget projects.
Become a stakeholder in your business. As with many other higher education degrees, earning your MS in Project Management can allow you to have a bigger voice in your company and expand your career opportunities. Since the field of project management relies so heavily on knowledge of processes and methodologies, you can have a larger impact on various business models by asserting yourself as a qualified and strategic project manager after earning your degree.
You will learn to find solutions for business problems and manage the complexity of the projects themselves. Additionally, you can gain the ability to evaluate the effectiveness of the leadership and management that surrounds the everyday decisions made in your organization.
Regardless of your specific industry, an MS in Project Management can provide you with transferable and applicable skills to formulate strategies, enabling organizations to achieve their goals. With the constant demand for businesses to become smarter and more efficient, these skills become more valuable. Reach your potential as a manager, director, or educator in the project management field.
Walden University provides a variety of online education programs that you can explore, including the MS in Project Management. Find out which degree program meets your needs today.
*The Project Management Institute, PMI’s Industry Growth Forecast: Project Management Between 2010 + 2020, on the Internet at www.pmi.org/-/media/pmi/documents/public/pdf/business-solutions/project-management-skills-gap-report.pdf.
†U.S. News & World Report, Online Project Management Master’s Degree, on the Internet at www.usnews.com/education/online-education/project-management-masters-degree.
Walden University’s MS in Project Management program is accredited by the Project Management Institute (PMI)® Global Accreditation Center for Project Management Education Programs (GAC). PMI GAC is the world’s leading specialized accrediting body for project management education and related degree programs, affirming that Walden’s curriculum meets rigorous quality standards established by GAC.
Career options may require additional experience, training, or other factors beyond the successful completion of this degree program.