Headline figures announced for APM Salary and Market Trends Survey 2017
Posted by Kirsten on 26th Apr 2017
This year’s APM Salary and Market Trends Survey 2017, designed and compiled in collaboration with Wellingtone Project Management, has proved to the be the largest salary survey yet.
Powered by global research firm YouGov the survey reached out across every sector to explore what the project profession looks like in 2017.
The results are now in and on first examination statistics show a promising reflection of a profession which has an emerging base of diverse young workers in their first years of work. Compared to just last year, those with less than five years of project management experience is up four per cent. With four per cent more respondents having less than five years of experience in a project career the survey not only highlighted an increase in new blood coming into the profession, but the diversity in working options and earning potential available across various levels of seniority and employment choices.
Also on the rise is a promising six per cent in female participants, showing a positive change in the gender balance across the profession. Following on from 2016 results, the gender wage gap has stayed roughly the same at 30 per cent, however in-depth analysis included in the 2017 survey shows this disparity could be attributed to just over 20 per cent of female respondents working part time, compared to just 10 per cent of men.
Contract vs permanent
Across the profession contractors fared the best, taking home on average almost £53,000. This figure was however raised by almost £30,000 for APM members who enjoy an average salary of £82,500. Impressively over a third of respondents in this category reported six figure salaries. Those working part time and less than 8 hours a week still took home roughly £17,000.
Looking at the entire survey, including apprentice, part time-workers and contractors, the average reported take home salary was £37,000, rising to £55,000 for APM members. For those in the South East this average rose to £42,500 and £57,500 respectively.
The survey showed a gradual increase in earnings starting at £22,500 for those aged 18-24, rising roughly £10,000 every ten years to a peak average for those aged 45-53 who reported an on average income of £47,000.
Happily almost 50 per cent of those surveyed expect their salary to rise in the next 12 months.
Job satisfaction and certainty
Satisfaction across the survey continues to be high with 80 per cent of respondents reporting to be satisfied in their current role. Interestingly it was those aged 55-plus who claimed to be the most satisfied. Despite 65 per cent of respondents staying put for the next year in their current role, those seeking a new job will be hunting out improved salary and more dverse and interesting work with opportunities for career progression.
The survey was conducted while in a time of deep uncertainty around Brexit, so when asked, “To what extent do you think Britain leaving the EU (i.e. Brexit) will have a positive or negative impact on your career overall?” it wasn’t surprising to see that over 40 per cent of respondents were unsure of their career future. However for those that were sure, over 36 per cent believed the effect to be negative compared to just 15 per cent who expected Brexit to have a positive important on their career.
Skills and training
“Looking underneath the headlines, approximately half of respondents expect to need new skills and training over the next five years,” commented Vince Hines, managing director of Wellingtone Project Management, who worked in collaboration with APM on the Survey.
“The continuing development of APM qualifications and the introduction of Chartered status will help to provide the route for many working in project management today, helping to develop the skills our industry needs,”
“Although the average salary represents a drop from the 2016 survey data – a third of respondents reporting earning less than £30,000, compared to only 11 per cent in the 2016 report – this is very much driven by broader survey participation across industry.
“Wellingtone is delighted to be associated with this report. It is by far the largest survey of its kind in the UK and is the recognised authority on project management salaries.”
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The third APM Salary and Market Trends Survey, run in collaboration with Wellingtone, is now available!