Top Project Manager Qualifications and Career Path in 2024

List of Top Project Manager Qualifications for 2024

Are you thinking about kicking off a career in project management but confused about what project managers do, the roles and responsibilities, and how to become a project manager?

Anyone who has a minimum qualification of a bachelor’s degree can apply. Companies give very high preference to candidates with a PMP certification, working experience in a related field, and required skills. Project managers are the professionals who keep their eye on the implementation of the plan, knowledge, skills, and experience from project camping to the launch of the product. They are solely responsible for the success and failure of any project they take on.

Senior project managers handle the project by organizing, planning, and executing it. A senior project manager also handles the client, stakeholders, and external resources. This article will briefly discuss the project manager's qualifications, roles, and responsibilities.

Roles and Responsibilities of a Project Manager

The roles and responsibilities of a project manager are mostly similar at every company. The work of a project manager is mainly divided into three major parts:

- Initiation and Planning of the Project:

The first and most crucial step from which a project manager starts his work is initiation and planning. After accepting any project, the manager first identifies where to start and plans things with a budget, schedule, and other things that have to be done in the project.

They also have to complete the project within budget and on time. In this phase, the idea for the project is explained and explored. This step examines the concept and feasibility of the project. After idea selection, the project manager starts working on the project's planning, consisting of budget, timing, components, and project clients.

Campaign launching is the first step that comes under planning. Campaign launching also tells about how the project has been disclosed to the public, and it determines the failure or success of the project in question. This is where one must remember that to be a project manager, the candidate first has to have project fundamentals qualification.

- Execution:

It is the most prolonged phase of the project. It takes maximum time, as this is the phase where the project manager decides all the necessary things that help grow the project. The demand for the project also depends on this phase.

During the execution phase, the project manager has to manage people, processes, and communication with clients and stakeholders. And for this job, very effective and efficient project managers are required.

Execution is the crucial factor in determining whether the project will be completed on time and whether the stakeholders are satisfied with the project's progress. Depending on the organization and project nature, a project manager decides its execution.

According to PMI's Pulse of the Profession report, authority leaders surveyed stated that 60 percent of their assignment administration techniques met goals. There is a substantial and significant distinction between planning and day-to-day implementation. This is where the clients determine whether the person executing has project manager qualifications.

- Closure phase:

This is the final phase of the project. All deliverables are finalized and transferred formally, and all documents are signed, accepted, and archived in this phase. This phase can help determine the level of project manager qualifications that the project manager has in stock.

Skills Required for a Good Project Manager

Project management is an art. To perform this art, one has to possess many skill sets. These skills make them different from a group of people. To become a good project manager, one has to show these skills:

Practical Communication:

The ability to communicate your ideas and thoughts is the primary requirement for being a project manager. When assessing the skill level of a project manager, 90% depends on his effective communication skills. When dealing with clients and stakeholders, communication skills determine if they are convinced and are part of effective communication. A good project manager has both written and verbal communication skills.

A good project manager not only impresses his clients and stakeholders with verbal communication but also with his written communication skills as well. Written communication skills help him make meeting notes, general email writing for the project, and weekly progress updates.

And verbal communication skills help the project manager present the project, leading and conducting team meetings and conversations with the team. And the discussion with stakeholders and external resources is also part of effective communication. This makes communication one of the major project manager's qualifications.

Good leadership:

Leadership is vital to the list of project manager qualifications. To handle the team, one needs to have good leadership skills. There are members from different departments in a group, and while dealing with them, it takes a good leader to be able to manage them.

During a tough time, a good project manager should be in a favorable situation; helping other people can uplift his team and increase the team members' morale. This is only possible when the leadership qualities of the project manager are exceptional.

Efficient negotiation skills:

A project manager regularly finds themselves in the position of negotiating contracts. Without skills in negotiation, one cannot claim to possess project manager qualifications.

Negotiation competencies are inherent features that aid two or more extraordinary events in agreeing to a standard logical solution. Regarding project managers, negotiation skills play a vital role in preparing their projects. So one can negotiate with stakeholders well.

Critical thinking skills:

Critical thinking skills include analyzing the problem profoundly and helping one find a relevant solution to tackle this problem in the project. With good essential thinking skills, one can sort and organize data properly to deal with the situation. And that is why critical thinking skills are required to become a good project manager.

The essential thinking skills of a project manager are essential in the decision-making process for the project's success.

Critical thinking can help identify and address workflow inefficiencies, improve management techniques, guide financial decisions, and cultivate a strategic mindset in almost any position. Project manager qualifications are incomplete without critical thinking skills.

Effective Risk Management:

Managing risk is one of the most challenging parts of the project. To identify threats, a good project manager should know the task properly. A good project manager controls risk and gets maximum output from the project.

Risk management skills become significant while dealing with a project. Without risk management, one cannot claim to have project management skills. These are the vital project manager qualifications that should be present in a senior project manager.

Check out this list of the latest project management software to use in 2024.

Importance of Project Manager Qualification from PMI

There are no specific project manager qualifications required in education to be a project manager. Anyone can apply for the post of project manager. A candidate applying for the project manager position must have a bachelor's or master's degree.

But preference is given to those who have completed a degree in management or business since a project manager has to deal with many clients and stakeholders.

Candidates who have completed a certificate program from a project management qualification institute have a very high chance of becoming project managers. In any job, professional experience is a necessary thing. One who has more than 12 years of experience and has worked for four or more years with the same company is given preferences for the role of project manager.

This is required because a project manager position is highly trusted, so one who has not worked long with an organization has less chance to be a project manager. Experience is essential as it enhances abilities and skills and builds leadership qualities.

Suggested Reads:

Top Project Manager Interview Questions and Answers

Career Scope for the Project Managers

Companies from different sectors require project managers. The area in which a project manager can work is listed below. These sectors actively look for professionals with the best project management qualifications.

• IT Sector
• Banking Industry
• Trading Sector
• Government Organization
• Healthcare services
• Finance Sector
• Construction Sector
• Animation,
• Modeling and Gaming Industry
• Law farms
• Hospitality Industry

Above all sectors, IT project professionals' or IT project managers qualifications are highly demanded these days.

Top Companies Hiring Project Manager Qualifications 

More or less, every company all over the globe hires a good project manager. For the role of a good project manager, companies pay very well. Some of the top-paying companies are listed below for project manager qualification (PMI). In order to aim specifically for the IT sector, one should have IT project manager qualifications.

• Cisco: Cisco deals in the manufacturing, sales, and telecommunications industries. Cisco is the top-paying company for a project manager. It pays $1,14959 per year, which is exceptionally significant. Those who worked at Cisco say it is a fast-paced environment, and they had a great experience there.

• Google: There is no need to introduce Google. It is one of the biggest companies in the world. If anyone in the world starts their phone or laptop, they first open Google because it is the biggest search engine globally, which provides $93700 per annum as an average salary for a project manager.

• SAIC: SAIC has a great team, and it works in the fields of IT and engineering. SAIC is known for its work in logistics and IT solutions, and because of this, it offers an excellent salary to a project manager. $96324 per year is the salary at SAIC.

• Ericsson: Ericsson is one of the leading companies in telecommunication services. Ericsson is operating in more than 180 countries. Ericsson is a Swedish company that offers $100711 per year.

• Amazon: Amazon is one of the leading companies in e-commerce. Amazon operates all over the globe and provides an average salary of $116000 per year for a project manager.

• Microsoft: The average salary of a project manager at Microsoft is $93700 per year. Microsoft is a well-known computer software provider that has been operating since 1975. Everyone has a dream to work with Microsoft, which is one of the reasons to choose Microsoft.

• Bank of America: The name says it all. Bank of America is one of the biggest names on the list of financial institutions. As it is leading in the field of banking, it provides a pretty great salary of $90,000.

• AECOM: AECOM is a company based on civil engineering. AECOM designs infrastructure for the government and private sectors as well. It operates in 150 countries and provides $89069 per year.

• JP Morgan Chase: JP Morgan Chase is operating in the banking industry and has operations all over the globe. The average salary of the project manager at JP Morgan Chase is $93350 per year.

• Accenture: Accenture provides services in more than 40 industries and offers an average salary of $95714 per year for project managers.

• Southern California Edison: Southern California Edison is a US-based company specializing in investor-owned utilities. Southern California Edison offers a salary of $104206 per year.

These are some of the best companies for PMI qualifications.

Salary Structure of Project Manager

The salary of a senior project manager is entirely dependent on the experience and skills of the candidate. PMI qualifications and Prince 2 qualifications can help one net a higher compensation. It would be ideal to have certification in project professional qualification. The average salary of the project manager is mentioned below:

Assistant Project Manager

- starting salary is INR 371,000 lakh per annum.
- The mid-level salary of an assistant project manager is around INR 670000 per annum. 
- salary is around INR 900000 to INR 1100000 lakh per annum.

Associate Project Manager

- Starting salary is INR 480000 lakh per annum.
- The mid-level salary of an assistant project manager is around INR 1000,000 per annum. 
- salary is around INR 1500000 to INR 2200000 lakh per annum.

Suggested Qualification: CAPM® Certified Associate Project Management

Project Manager

- Starting salary is INR 750000 lakh per annum.
- The mid-level salary of an assistant project manager is around INR 2000,000 per annum. 
- salary is around INR 2000000 to INR 3000000 lakh per annum.

Suggested Qualification: PMP® Certification

Senior Project Manager

- Starting salary is INR 1000,000 lakh per annum.
- The mid-level salary of an assistant project manager is around INR 2000,000 per annum. 
- salary is around INR 2500000 to INR 3200000 lakh per annum.

Suggested Qualification: PgMP® Exam Prep Training

Why become a Project Manager?

A project manager has complete knowledge and skills in handling projects. The senior project manager is fully responsible for the success or failure of the project. Developing a never-give-up attitude as a senior project manager is very demanding.

Therefore, one can get an excellent salary in this field and experience career growth. Project managers have excellent communication skills and can negotiate well with company management.

It continuously helps one in both ways, as a project manager and at the individual level. In the coming years, the demand for good project managers will also rise. There would be higher compensation offered for those who have completed project management qualification (PMI) and who have insight into senior project manager qualification.

Having a certification marking one as a project management professional can therefore go a long way in advancing one’s career. It is an opportune time to get certification in the relevant courses from well-accredited institutes. Sprintzeal is one such platform that is a trusted source for certification. Check out their courses on PMP certification and advance your career today!