Inaugural Asia Pacific Project Management Salary Survey offers insights into salary trends across countries, employment outlook, and core skillsets respondents think will fast-track their project management career
SINGAPORE, April 7, 2014 /PRNewswire/ -- ESI International( http://www.esi-intl.com ), the world's leading project management training company, today announced the key findings of its inaugural Asia Pacific Project Management Salary Survey, which was conducted with over 600 project management managers across multiple industry sectors in Asia Pacific, spanning mainland China, Hong Kong, India, Australia and New Zealand, as well as Southeast Asia nations including Singapore, Malaysia and Indonesia.
In addition to uncovering salary trends across countries, the study also aims to examine the factors impacting salary improvement, employment outlook, and critical competencies hiring managers look for when recruiting project management professionals.
-- Countries with the highest and lowest mean monthly
salary recorded: Across all industries, roles, and
experience levels, Australia emerged as the country
with the highest mean monthly salary registered
within the project management profession (USD11,350),
followed by New Zealand (USD9,161), Hong Kong
(USD7,500), Singapore (USD7,033), Malaysia (USD4,316),
mainland China (USD3,663), India (USD3,453) and
-- Only 9 per cent of respondents were specialised in
Agile project management: Project management
professionals across Asia Pacific have the most
experience in programme management (24 per cent),
traditional or Waterfall project management (20 per
cent), and project portfolio management (19 per
cent), regardless of the industries they are in.
While only 9 per cent of survey respondents were
specialised in Agile, organisations in regulated
industries, such as the financial services sector,
are increasingly turning to Agile to align business
needs with IT and meet regulatory compliance.
-- Most respondents did not expect a further salary
improvement in 2014: Aside from annual increment and
bonus payouts, 62 per cent of respondents did not
expect a further salary improvement this year. Given
the current competitive business environment, the
finding indicates that organisations may be looking
at investing in training programmes for skillset
development and upgrading rather than salary
revisions in the near term.
-- Better economic outlook and increased job
responsibilities attributed as top factors in improving
current salary: 44 per cent of survey respondents
attributed a better economic outlook as a factor in
improving their current salary, while 31 per cent
attributed it to increased job responsibilities, which
will require acquisition of new skills, professional
experience and credentials.
-- Project leadership, and communication and general
management skills, rated by respondents across most
industries as the top two competencies for career
advancement: Across most industries, project
leadership, and communication and management skills,
are the top two critical competencies singled out by
respondents for career advancement. Technical or hard
skills were ranked as of lower importance to their
careers by respondents across most industries.
-- Agile project management (Scrum) and stakeholder
management regarded as critical competencies by
respondents from financial services sector for career
advancement: Respondents from the financial services
sector considered Agile and stakeholder management as
the top two core proficiencies vital for career
-- Fairly bullish hiring outlook across Asia Pacific for
the first half of 2014: Hiring managers who are
looking to add new headcount to the project management
team are likely to do so within the next 3 or 6 months.
-- Communication and project leadership skills are the
most critical and sought after competencies in project
management: Hiring managers across Asia Pacific regard
communication and project leadership skills as the most
critical competencies when recruiting project management
professionals. These are also the same critical
competencies that survey respondents across most
industries think will help fast-track their careers.
"Business soft skills are just as critical for career success even for a hard skills-centric profession like project management. Continuous learning and competency upgrading is therefore instrumental in aligning both technical and business skillsets with industry requirements and advancing the project manager's career path," said Raed S. Haddad, Managing Director for Asia Pacific, ESI International. "Organisations are advised to adopt a more strategic view on training and development, given the significant cost and time advantage of developing talent internally versus hiring from the outside, in order to address staffing challenges associated with the shortages of experienced project managers today."
To download a copy of the full report, please visit: http://www.esi-intl.com.sg/pdf/RR/SGRR_ESI_International_Asia_Pacific_Project_Management_Salary_Survey_2014.pdf
About ESI International
ESI International is a global project-focused training company helping people around the world improve the way they manage projects, contracts, requirements and vendors through innovative training in project management( http://www.esi-intl.com/learning-programs/project-management ), business analysis ( http://www.esi-intl.com/learning-programs/business-analysis )and contract management( http://www.esi-intl.com/learning-programs/contract-management ). In addition to ESI's more than 100 courses delivered in more than a dozen languages at hundreds of locations worldwide, ESI offers several certificate programmes through our educational partner, The George Washington University in Washington, D.C. Founded in 1981, ESI's worldwide headquarters are in Arlington, Va., USA. To date, ESI's programmes have benefited more than 1.35 million professionals worldwide. For more information visit www.esi-intl.com.sg.
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