Construction project managers oversee all activities related to a building project, from hiring contractors to maintaining schedules and budgets. Some of these professionals pursue industry certification, such as the Project Management Institute's Project Management Professional, or PMP, certification. PMP certification could lead to increased job opportunities and higher earnings.
Certified PMP Salaries
Project managers with PMP certification earn about 10 percent more than individuals without this certification, according to the Project Management Institute (PMI). A 2009 PMI salary survey reveals that PMP managers with less than 1 year of experience earn a median salary of $86,000, while those with 1 to 5 years of experience earn a median wage of $100,000. After 5 years, project managers with PMP certification earn a median wage of $108,206, and this salary increases to $118,000 after 10 years in the industry. The median wage for project managers without PMP certification is $91,000. These figures apply to project managers in all fields, including construction.
PMP Construction Salaries
Construction project managers with PMP certification earn a median salary of $102,800, the 2009 PMI salary survey reveals. PMP-certified managers in the engineering industry earn a median wage of $106,198 per year.
Construction Management Salaries
Construction project managers earn a mean wage of $45.31 per hour, or $94,240 per year, as of May 2010, according to the U.S. Bureau of Labor Statistics. The median wage for this profession was $40.32 per hour, or $83,860 per year. The highest paying states for project managers include New York, with an average annual salary of $131,800; Rhode Island at $130,140 per year; and New Jersey, which averages $123,350 annually. (These figures represent earnings for both certified and non-certified professionals.)
PMP Certification Process
The Project Management Institute requires candidates to meet specific criteria in order to qualify for PMP certification. Candidates must have a 4-year degree in a construction-related field, as well as 3 years of experience in the industry, which should include at least 4,500 hours spent leading projects. Those without a degree must have at least 5 years of industry experience, with a minimum of 7,500 hours spent leading projects. Candidates who meet these requirements can sit for the PMP exam. Those who pass the exam must complete continuing education credits on a regular basis to maintain certification.