Careers in Project Management: Diverse, Challenging, and Rewarding

In the broad sense, project management is a core component of every profession. Every day, we set goals both large and small for ourselves and come up with plans for achieving them. Professional project managers apply the same process, albeit with a much wider scope, to complex endeavors such as product and software development, scientific research, and urban planning.

Project managers work in a wide range of industries, from information technology and finance to aerospace engineering and manufacturing. They supervise employees, monitor progress, report to upper management, and ensure that material and financial resources are used efficiently. Not all project managers go by that name: their exact titles may vary depending on the industry. However, project management is emerging as a distinct function with different responsibilities from other leadership positions.

Paths in Project Management

Opportunities exist for project managers in virtually every industry and at every major company. These three jobs are some of the most common. All data was gathered by the U.S. Bureau of Labor Statistics in 2008.

Construction Manager

Responsibilities include supervising building projects from start to finish, hiring contractors, setting a budget and timeline, and overseeing daily operations. Some experienced construction workers advance to management positions without formal training, but most employers seek out candidates with a bachelor's degree in construction science, construction management, building science, or civil engineering. A growing number of campus-based and online colleges and universities now offer a master's degree in project management, a credential that could help aspiring construction project managers stand out from the pack.

• Mean annual salary: $89,770
• Mean hourly wage: $43.16
• Top paying states: New York, New Jersey, Washington

Computer and Information Systems Manager

In the technology world, management teams often include one or more individuals who focus exclusively on managing information technology projects. They set budgets and schedules, hire vendors and specialists, and coordinate numerous contributors with diverse skill sets. A bachelor's degree in management information systems or a related discipline, such as business or management, is essential. A master's degree in project management or business administration can help project managers advance more quickly and negotiate better salaries.

• Mean annual salary: $118,710
• Mean hourly wage: $57.07
• Top paying states: New York, New Jersey, California

Engineering Managers

These managers coordinate every aspect of machinery and product development projects, proposing budgets, supervising employees, and enforcing quality standards. Many engineering managers hold a bachelor's degree in engineering and begin their career as engineers. They often become eligible for management positions by earning a master's degree in engineering management or business administration. For working engineers with full-time jobs, an online degree program can be a convenient way to obtain these extra credentials.

• Mean annual salary: $120,580
• Mean hourly wage: $57.97
• Top paying states: California, Massachusetts, New York

The Bureau of Labor statistics does not collect data on project managers in other industries, but a 2006 survey commissioned by the Project Management Institute, the largest project management association in the U.S., found that full-time project managers earned a median annual income of $96,000, including salary and bonuses.

The Future of Project Management

Projects in every industry are becoming increasingly complicated, often involving teams of workers in different parts of the world and with disparate areas of expertise. As a result, project management is growing both as a key function within each company and as a stand-alone occupation. Membership in the Project Management Institute has increased from about 43,000 members in 1999 to 208,000 in 2005 and even more today. With the right training, you could take advantage of this growth while establishing a highly profitable career with excellent opportunities for advancement.