Project Management Careers at a Glance

If you are interested in furthering your career in business, then you would do well to consider either entering the field of project management, or obtaining an advanced education to obtain promotions within the field. In any business, skilled project managers are extremely valuable. When working as a project manager, you can be in charge of critical business processes, with the chief responsibility of planning, executing, and closing any variety of projects. Skill sets in management, budgeting, scheduling, and the ability to motivate employees should all be considered essential to a successful career in project management.

Types of Project Management Degrees Available

There are many degree options to choose from if you are interested in a Masters in Project Management. Master's programs will typically take one to four years for completion. You can even sometimes earn credit from project management courses (or other business/humanities courses) that you have completed. This can significantly shorten the amount of time the degree takes to earn. There are also specializations available through many programs.

• MA in Project Management: A Master of Arts in Project Management program is best for students who want to help organizations manage personnel, and many other aspect of project planning and implementation.
• MS in Project Management: The Master of Science in Project Management degree is perfect for any business person who wishes to advance his or her career in the field of project management. Students will receive instruction that helps them become better managers, able to manage a variety of tasks and better lead other employees in organizations.
• MBA in Project Management: Master of Business Administration in Project Management degree programs will obviously focus a significant amount of attention on project management in a business setting. Some courses you may take as an MBA in Project Management student include Accounting and Finance: Managerial Use and Analysis, Applied Managerial Statistics, Leadership and Organizational Behavior, and Managing Organizational Change.
• MS in Leadership - Project Management: A Master of Science in Leadership, with a specialization in project management, is ideal for students interested in making executive decisions and completing high-level tasks within their respective organizations. In order to successfully manage projects, you should be a strong leader who is able to guide employees, solve problems, and meet project deadlines. Graduates should have these essential skills.
• MS in IT - Project Management: A Master of Science in Information Technology, with a specialization in project management is a degree program aimed specifically for those interested in high level project management tasks within an IT organization. IT projects can be extremely complicated and challenging, so project managers need to have a thorough understanding of inherent technical and managerial nuances in order to successfully lead IT teams.
• MSM - Project Management: A Master of Science in Management, with a specialization in Project Management degree program is tailored specifically for those interested in managing a variety of tasks and being involved with the completion of high level projects in various organizations, and diverse business settings.

Average Salary Figures for Someone with a Master of Project Management Degree

Obtaining a Master of Project Management degree can be an excellent boost for your career and salary. Those with graduate degrees are more likely to obtain leadership positions in organizations while also being able to command significant pay increases. The low end of project management salaries is $50,000 to $80,000 annually. However, those who have experience, and demonstrated significant value to their employers can expect to receive salaries that can eclipse $100,000 or more yearly. It is important to note, however, that there can be significant variation in salary depending on the specific industry you are working as a project manager in.

Financial Aid Opportunities for Masters in Project Management Degree Programs

College degree programs can be quite expensive, especially for certain master's degree level programs. However, this should not prevent you from pursuing your educational goals. Firstly, there are many financial aid opportunities for students interested in project management. Filling out a FAFSA to see the type of federal aid you may qualify for is an excellent starting point. Additionally there are many project management scholarships and grants available. Some of these scholarships include; The Project Management Institute Educational Foundation Scholarship, The Donald S. Barrie Award, The James R. Snyder International Student Paper of the Year (ISPY) Award, the ESI International Scholarship, the University of Alaska Anchorage Hawk Consultants Project Management Scholarship, the Purdue University, Krannert School of Management scholarship, and the Wayne K. Latham Project Management Scholarship.