The recent Salaries and Day Rates Review for Project Management Personnel, based on the 2011 Project Management Benchmark Report from recruitment specialists Arras People, shows that project and programme managers could earn up to £10,000 more per year if they hold the Association for Project Management’s APM PFQ along with the APM PMQ qualification.
“It would appear that for most programme and project management practitioners the reality is that accreditations are not only becoming increasingly mandated when looking for a new role, but more importantly they are also rewarded with higher salaries and day rates.” said the report’s author and Arras People managing director John Thorpe.
The survey of programme and project management practitioners suggests that APM PMQ can have a positive impact on both remuneration and contractor day rates with 52% of those with the qualification commanding fees of £400 to £600 per day.
The popularity of the ubiquitous PRINCE2® accreditations, long seen as an industry standard methodology, is also reflected in the survey, although the overall impact on salary is “not significant” due to the fact so many practitioners hold the accreditation.
“Many project managers have hit mandatory requirement that they have PRINCE2® which rightly or wrongly has achieved the de facto standard” said John Thorpe “The PRINCE2® accreditation does have a positive impact on the PPM practitioner distribution by salary across the whole and also when reviewed for just project managers. As expected, because it is now a baseline accreditation the actual difference is not significant reflecting its ‘me too’ position.”
With the profession facing tough economic times and jobs and contracts at a premium, increasing numbers of professionals are turning to the APM PMQ qualification to provide an edge in the employment market. A shortened route to APM PMQ, launched in 2010, specifically for those holding the PRINCE2® Practitioner qualification is especially attractive to those wishing to stand out from the rest.
Liz Wilson, head of Professional Standards and Knowledge at APM said: “Those who have achieved the APM PMQ have had their project management knowledge professionally recognised by APM. These research findings from Arras emphasise that employers place a high commercial value on this achievement, too.”
APM PMQ is part of the association’s suite of qualifications providing support for professionals throughout their career. Accredited at IPMA Level D and SCQF Level 7, APM PMQ is a knowledge based qualification for those wishing to achieve a broad level of project management knowledge sufficient to participate in projects from individual assignments through to large capital projects. Candidates can study for APM PMQ on a variety of different courses run by accredited providers or should there be a desire to undertake self study, candidates can enter one of four open examinations run by the APM.
For more information visit the APM PMQ webpage.
PRINCE2® is the Registered Trade Mark of the Office of Government Commerce in the United Kingdom and other countries.