Publications
Partners
Project management professionals in South Africa are enjoying significant financial rewards, as evidenced by the Project Management Institute's (PMI) thirteenth edition of the Project Management Salary Survey.
The report revealed that individuals holding project management professional (PMP) certification receive substantial earning increases across most countries compared to their counterparts without it.
The report stated:
The Earning Power: Project Management Salary Survey is a biennial report compiled based on self-reported salary information gathered between March and April 2023 from over 20 000 project management practitioners.
Utilising stratified random sampling methodology, the survey provides meaningful compensation data for 21 countries. PMI is an international organisation dedicated to advancing project management, "by offering lifelong learning and connections to enhance high-demand skills".
According to the survey, individuals with PMP certification for less than three years on average earn nearly double the average South African salary of R46 111/pm. The average salary for individuals who have held the certification for 3–5 years is R53 796.
READ: Personal Finance | New vehicle options for the average South African salary rather bleak
The median income for project management professionals in the country stands at R83 962. Based on research by the Bureau of Market Research, only about 1.6% of the working population enjoys a personal income around this figure.
"Project management is a fulfilling career and, with the right certification, also rewarding. The PMP certification holds the potential to boost earning power, making it a must-have.
George Asamani, managing director of PMI, Sub-Saharan Africa, remarked:
Amid high unemployment rates and companies facing uncertainties, LinkedIn's Global Talent Trends | LinkedIn Talent Solutions found that opportunities for upskilling and career advancement rank among people's top priorities, second only to compensation, work-life balance and flexibility.
- Employment Increase: The number of employed persons increased by 399,000 to 16.7 million in Q3 2023.
- Unemployment Decrease: The number of unemployed persons decreased by 72 000 to 7.8 million in the same quarter.
- Inactive Population Decrease: The number of people not economically active for reasons other than discouragement decreased by 160 000 to 13.1 million.
- Unemployment Rate: The official unemployment rate decreased by 0.7 percentage points to 31.9% in Q3 2023. The expanded definition of unemployment decreased by 0.9 percentage points to 41.2% in the same period.
PMI acknowledges that while earning the PMP certification can bring financial advantages, it also offers other benefits, including the fact that certified project professionals are in high demand across industries and geographies, and hiring managers are increasingly recognising the value of industry certifications and skills-based hiring.
"For employees, developing their skills can result in much more than just a promotion or a salary increase. Upskilling is one of the most effective ways to boost employees' confidence at work. It can unlock greater purpose in people's lives and lead to a better quality of life for workers.
And in the wake of the pandemic – when many people took the time to reflect on what's really meaningful to them – focusing on these other outcomes is crucially important," LinkedIn stated.
READ: SA's unemployment decreases to pre-covid levels at 31.9% in Q3
"Earning the PMP certification demonstrates that professionals possess the skills necessary for project success, enabling them to break into an industry they are passionate about and empowering them to build a career around their passion.
Maintaining the PMP certification showcases professionals' commitment to career-long learning, which is especially crucial as emerging technologies become an integral part of everyday business," PMI emphasised.
