Having an MBA in project management is an excellent way to build your career in the field of IT. It will give you the skills and education you need to excel in the field, and the salary you earn will depend on your ability to prove yourself. The amount you earn depends on several factors, including your education, the size of your company, and your job experience.
Part-Time MBAs
A part-time MBA is a great way to earn a degree and increase your income. It allows you to keep your job while you complete your studies. It also helps you leverage financial aid, which can help you pay for school.
Some companies offer tuition reimbursements to their employees. This helps instill loyalty and higher skills in their workers. Some companies that provide this benefit include consumer goods, technology, and financial services.
Some schools also offer assistantships. These grants provide an employee with a partial or full tuition refund. An employer may also cover a portion of the cost of books, supplies, and other related expenses. It can be helpful to talk to your human resources department before you enroll.
Salary of Project Management Graduates
Getting an MBA project management online may sound daunting, but it’s certainly possible if you’re interested in working in this industry. Online programs will let you complete an MBA in project management in as little as two to three years. This course will teach you the fundamentals of business operations and management and how to apply these skills to project management.
Getting an MBA in project management will help you land a job in this fast-growing industry. In fact, according to the Project Management Institute (PMI), an MBA is associated with higher salaries than a master’s degree.
According to the PMI, the average project manager in the United States can expect to earn a salary of about $110,000, compared to $140,000 for the top 25% of earners. This is much more than the national median salary for all other occupations.
Impact of the Company on the Salary of Project Management Graduate
Whether you are a graduate or a bona fide ole boy, you are already aware of the sheer number of project management jobs in the US but have yet to find your match. A firm grasp of the project management industry can also lead to a lucrative career as a contractor or even a job at a third-party agency. The best part is that these positions pay a well above-average salary. A well-managed project manager could earn more than their construction counterparts. Fortunately, this is not a problem as many companies, both large and small, are willing to offer the best compensation packages. For example, the average engineering and construction project manager in the UK can expect to pocket a handsome sum of cash, with the average UK salary topping out at £60,000 a year.
Career Outlook
Considering the rising demand for skilled management workers, the career outlook for project management MBAs appears promising. An advanced degree in the field gives students the skills to become successful leaders in organizations.
According to the Project Management Institute, the project management industry is expected to experience 33 percent growth by 2027. This will create 22 million new jobs. The Bureau of Labor Statistics has projected that between 2019 and 2029, the management-oriented labor force will grow by 5%.
Aside from job prospects, an MBA will enhance analytical and strategic thinking. This will allow students to achieve promotions within their current workplaces. In addition, it will add weight to their resumes. Whether you plan to pursue an MBA or a master’s degree in project management, it is important to think about your career goals before making a decision.
Choosing a program that best fits your goals is a great way to ensure you get the most out of your education. While most programs require students to have at least four years of work experience before applying, some MBA programs accept candidates straight out of a bachelor’s program.
