If you are interested in taking your management skills to the next level, then earning an online MBA in project management is perfect. In this article, we’ll discuss the career outlook for project management professionals, potential career paths and the benefits of earning your graduate degree online.
Project managers work as leaders to get projects of all sizes accomplished. They set deadlines, put together a team, communicate progress and results to stakeholders, delegate tasks and keep the project on schedule. The growing project management field needs strong critical thinkers, problem solvers and top communicators to move business projects forward successfully.
Career Outlook for Project Management Professionals
Project managers are in-demand, and the need for them will continue to grow, according to the U.S. Bureau of Labor Statistics (BLS). The BLS reports 781,400 people were employed as project management specialists in the U.S., and that number is expected to grow 7% through 2031. In May 2021 the median annual wage for project management specialists was $94,500 with the top 10% earning more than $159,140.
To enter the project management specialist occupation, you’ll typically need a bachelor’s degree in business, project management or a related field. However, to quickly gain leadership positions, employers look for candidates with a master’s degree in business administration on top of real-world experience. When it comes to project management, earning an MBA with a project management specialization can help reach all of your career and salary goals.
Career Paths for MBA in Project Management Graduates
Earning your MBA opens many doors for professionals who pursue roles in business, management, finance, etc., but the added project management specialization allows for other specific career options.
Other than the project manager, project management consultant and project portfolio manager, there are plenty of career paths for online MBA in Project Management graduates.
1. Chief Operating Officer (COO)
COOs, also known as Vice President of Operations, ensure all of the company’s operations run efficiently and profitably. They work alongside other top executives to formulate policies and plan strategies.
2. Director
A director is often employed at a small company or a non-profit. Their work includes overseeing projects and others in charge of project management. They can also manage a company’s day-to-day affairs.
3. Project analyst
A project analyst researches, collects, and analyzes data for new project developments. Efficiency and cost-effectiveness are top priorities for project analysts.
4. Cost estimator
A cost estimator usually specializes in a specific product or industry, such as construction, engineering, or manufacturing. According to the BLS, they “collect and analyze data to assess the time, money, materials, and labor required to manufacture a product, construct a building, or provide a service.”
Benefits of Earning An Online MBA In Project Management
The rise of online higher education programs allows professionals to earn their graduate degrees on their own time and have a higher return on investment. Enrolling in a fully online MBA program saves time and money because you won’t be commuting back and forth from campus and you won’t have to schedule classes around your full-time job.
With little disruption to your everyday life, earning a fully online MBA in project management online from an accredited school is an ideal situation for most people.
Concordia University Chicago’s Fully Online MBA in Project Management
Everyone at Concordia University Chicago is passionate about making online graduate programs available to working professionals like you who need the flexibility of online education to further your career.
We offer an online MBA degree program and an option of 8 different specializations. Our 100% online Project Management MBA includes all 12 courses featured in the core MBA degree program, plus three additional courses that focus exclusively on project management:
- Managing Projects
- Project Resources and Teams
- Project Monitoring and Control
The combination of the core MBA courses and the project management courses will prepare you to take on any challenge within your project management career and help you stand out from the competition. To find out more information about Concordia University Chicago’s MBA in project management online degree program, then visit our overview page today.
