By Godwin Anyebe
Nigeria, Africa’s largest economy, is an attractive destination for professionals in various fields. As Nigeria continues to develop, businesses and organizations across all sectors are increasingly recognizing the importance of effective project management to deliver results and drive growth.
This growing awareness against the backdrop of skills scarcity has heightened the demand for certified project professionals, resulting in a potential earning advantage, especially for project managers who hold the Project Management Professional (PMP®) certification.
In a volatile, uncertain, complex, and ambiguous (VUCA) business environment, the hiring of PMP-certified project managers has emerged as a strategic imperative for companies. Their expertise spans critical areas such as strategic decision-making, risk management, and adaptability to change, all of which are indispensable in a VUCA world. Moreover, the PMP certification reflects a commitment to career-long learning and professional development, which equips them to stay ahead of trends.
Project Management Institute (PMI), this week, released the 13th edition of its Earning Power: Project Management Salary Survey. Results show that survey respondents with PMP certification earn higher median salaries than those without PMP certification, 33% higher on average across the 21 countries surveyed. PMP certified project professionals in Nigeria demonstrated an even greater lift, reporting an increase of 60% in median salary than their non-certified peers.
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About two-thirds (66%) of the survey participants reported that their total compensation (including salary, bonus, and other cash incentives) increased over the 12 months before completing the survey. The data also shows a broad consensus that the PMP certification is valuable not only for salary growth but also for career development.
The survey data shows that the median salary of project professionals varies considerably from country to country and across variables. In Nigeria, it is $23,370 among project professionals.
This latest edition of the biennial publication draws insights from over 20,000 respondents in 21 countries, 78% of whom hold the PMP certification. Survey results revealed that consensus among respondents from Nigeria that the PMP certification is valuable to their careers is particularly strong.
This report is a useful resource for professionals applying for project management roles and organizations seeking to fill them, as it helps define the earning power of project professionals around the world.
“Project management is a fulfilling career and, with the right certification rewarding too. The PMP certification holds the potential to boost earning power, making it a must-have for professionals. Viewed as a scarce skill on the continent, PMI is intentional about supporting project professionals with globally recognized certifications at every career stage.,” said George Asamani, Managing Director, PMI, Sub-Saharan Africa.
“Africa’s economic prospects hinge on various elements and strategies and include policy framework, capacity building, infrastructure, access to resources, technology, and R&D, amongst others. This requires a comprehensive approach involving various stakeholders, including governments, private sector entities, and civil society, working together. The final piece of this puzzle is project management – getting all these role players to deliver successful projects.”
While there can be a monetary advantage to earning the PMP certification, there are other benefits, including the fact that certified project professionals are in significant demand across industries and geographies, and hiring managers are recognizing the value of industry certifications and skills-based hiring. Additionally, earning the PMP certification proves professionals have the skills needed for project success, helping them break into an industry they are passionate about and empowering them to build a career around their passion.
Maintaining the PMP certification proves professionals’ commitment to career-long learning, which is especially important as emerging technologies are becoming part of everyday business.