APM Salary and Market Trends Survey 2017: Growing Sectors
Analysis of APM’s Salary and Market Trends survey highlights emerging sectors such as health and financial services enjoying a wave of young project professionals joining their ranks.
Survey results show the number of respondents working in the financial services sector aged 18-24 has grown by six per cent since 2016.
Looking at the financial services sector which claims almost a quarter (24 per cent) of change managers from across the survey, the data signals the sector is already undertaking the digital transformations needed to embrace new technologies and is driving the sector’s growth.
With a wide range of digital and change projects across the sector and the opportunity to work on global programmes it isn’t unsurprising to see this emergent demand is attracting a growing percentage of millennials.
For those joining the sector, average salaries for those aged 18-24 sit modestly at £27.5K, however data shows it isn’t the monetary reward that attracts those at the start of the career ladder; only 20 per cent cited it as an important factor when looking for a job. Instead it is the chance of career progression; a feature that over half of young respondents claimed as an important aspect when looking for a job.
Happily for those who progress up the ranks, the financial sector enjoys the highest percentage of those earning over £150k out of all sectors accounting for over one quarter of project professionals in the +£150k banding.
One reason for this could be an overwhelming demand for digitally savvy project managers to undertake globalised and complex technological projects, which puts high price tags on the best in the business.
“With intensifying global competition, Brexit and accelerating technology innovation, the pipeline of new talent needed to deliver existing and future digital and transformational projects is undoubtedly set to grow,” said James Driver from APM.
The APM Salary and Market Trends Survey 2017 was run by YouGov and held in collaboration with Wellingtone Project Management.
APM’s latest strategy ‘Inspiring positive change’ sets out the Association’s future ambition to engage with new sectors and communities. To read more on APM’s strategy click here.