How much can I earn with a PRINCE2 qualification?
PRINCE2 is recognised by the UK government and many private sector organisations as the gold standard for entering a career in project management.
It can lead to extremely varied and exciting career paths. But is it worth investing the time? What’s the payoff for taking on a PRINCE2 qualification?
The Association of Project Management annual salary survey - in collaboration with YouGov - is “the largest survey of its kind in the UK”. The 2017 report reflected the contributions of around 6,000 professionals across the UK.
The report found that the average annual salary for project managers stands at £47,500. Top professionals in the financial sector enjoy the highest remuneration averaging over £150,000 pa.
In Northern Ireland, average salaries have seen a near 10% boost - rising from £39,000 in 2016 to £42,500 in 2017.
For freelance contractors, the average day rate is £450 but there is great scope for increased earning power. In fact, contractors were the highest earners by job type with average annual earnings of £82,500. One-in-six contractors are now earning £700-£1,000 per day, which compares more than favourably against other professions.
So what difference does certification make to salaries?
The Project Management Institute’s (PMI) ‘Earning Power: Project Management Salary Survey’ found that professional certification adds a 20% premium on average salaries. This is borne out by CW Jobs which states that PRINCE2 qualified professionals net around £57,500 per annum - more than £10,000 above the median.
The future of the profession looks good too. The PMI international talent gap suggests salaries will increase due to heightened demand.
The PRINCE2 qualification can prove to be transformational for your career and, importantly, also to your earning power.