How Much Do CPMs Make?
What is CPM:
Different Global Certification bodies and professional associations grant certifications in the project management profession. Candidates with the fundamental knowledge of project management like basics of organization, planning, and implementation of diverse projects, are eligible for this Certified Project Management certification. With growing importance, this certification has become the need of the hour. To manage different organization processes in the most sophisticated way you have to make sure the presence of a Certified Project manager in your company. To get a competitive edge on your competitors this addition might play an important role.
Responsibilities of CPM:
After being successful in managing projects on a sporadic basis managers stumble into professional project management. A certification indicates how much potential a manager has about pursuing a career in project management. The absence of Certified Project Manager can lead your firm to low profits. The main responsibility of the CPMs is to keep the project aligned with its objectives.
The role may include following responsibilities:
- To ensure professional interconnection between all stakeholders and project team members.
- To choose relative processes for the project.
- Identify and analyze assumptions and constraints.
- Leads and monitors process planning efforts and finds out dependencies between activities.
- Accommodate other stakeholders and team in process execution.
- Plan cost and time reserves for the project.
- Delegate project management activities with more proactive approach.
CPM Salary Package:
In order to land the best job opportunity, people take a switch in their professional career from managing projects to be a Certified project manager. Being a project manager in your firm you observe a salary hike for those who have certification in project management. For being a part of that elite group of CPMs they had to endure a lot of struggle as the test is relevant to all kinds of management perspectives. It is one of the most important factors that influences CPM’s salary.
All over the world 34 countries were taken into account to get information from 27,000 project managers and they declared the following information. There exists a sizable amount of difference i.e, 20%, when we perform comparison of Certified Project Manager salary and Non-CPM Manager salary.
In the USA a CPM professional gets $111,000 in comparison with a non-CPM professional who gets 91,000$. With an average CPM salary of $130,966 Switzerland is at the top of the list succeeded by The USA ($112,000), Australia ($108,593) , and Germany ($88,449). Countries paying the lowest salary to project managers include China ($20,000), India ($20,000), Nigeria ($20,000), and Egypt ($20,000).
Different career paths are offered by companies according to their frameworks, current situation, and culture. Moreover, to get experience under different project management roles is concerned with experience, effort, results and situation. Whatever the role is, the salary of CPM increases rapidly. There is a point to be noted that the experienced CPM gets double salary than a fresh candidate.
CPM certification makes a certain difference:
According to a survey, 80% CPMs make 20% more than non certified project managers. It’s needless to say that certification impacts salary and other non paid benefits, it really makes a great difference. This fact can not be underestimated that it maximizes your possibility of being hired by a well known institution. It’s undoubtedly well-worth for a manager to get this certification to secure future benefits.