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How to earn more as a project manager

14 September 2016

If you’re looking to make serious bucks as a project manager, you’re in luck. Not only is Australia home to the most well-paid project managers in the world, but there are also plenty of opportunities to increase your earning potential and boost your wealth.

Depending on what you want out of your career, there are endless pathways open to you in project management. And it’s no secret that great project managers are amply rewarded for their skills. We’ve uncovered some of the best ways to make it big as a high-achieving project manager.

Get qualified

Education shouldn’t end with graduation. The highest-paid project managers are high achievers who constantly seek out further education to enhance their skillset and knowledge. While self-led study and reading is one great way to keep ahead in your field, engaging with higher levels of education, such as a Master of Project Management, gives you that competitive edge to help increase your earning potential.

Gain experience

Work experience is almost as important as education. If you want to earn a six-figure salary, you’ll need approximately 10 years of industry experience. All's not lost for industry newbies though; with the right education and qualifications, you can still get a head start on your earning potential.

If you’re looking to gain experience, it pays to first consider which field of project management you’d most like to specialise in. Getting specialised experience is one of the best ways to boost your income. Some of the highest-earning areas of specialisation include consulting, resources (such as mining), pharmaceuticals, aerospace and engineering. If you can gain experience in one of these fields early in your career, you’ll be well on your way to pocketing some serious figures.

Move with the money

Along with choosing your industry and specialisation based on where there’s money to be made, having the flexibility to move location for higher-paying work can be extremely rewarding. According to PayScale, there’s a lot of money to be found in Perth’s project management scene. However, other countries, including the United States, also pay premium rates for their project managers. Having the flexibility to move with the money, and take on evolving projects in overseas tech landscapes, can provide you with a wealth of earning potential.

To increase your skills and earning potential in project management, consider a Master of Project Management at SCU Online.

Find out more about our great online courses or speak to one of our friendly Student Enrolment Advisors today on 1300 589 882.