A Master’s Degree in IT Project Management Can Boost Earning Potential
From small business projects to multi-million-dollar initiatives, complex endeavors require leadership. Information technology (IT) project management specialists leverage diverse skill sets to ensure projects at all scales are completed to specification. At Saint Mary’s University of Minnesota, we provide an M.S. in Information Technology Project Management program to help students make the most of their future careers. Here, we discuss a potential project management salary for graduates of this program, along with more information about this field.
Careers in IT Project Management
Large business projects involve many moving parts. An information technology (IT) project, for example, may require multiple teams of network administrators, database developers, web designers, and other specialized professionals. It also requires clear project guidelines, material and digital resources, and scheduling – not to mention funding to cover everything.
Project management professionals are responsible for keeping large-scale projects coordinated. They take control of the big picture, making sure all parts work together seamlessly and complete the project to specification. To make this possible, they juggle a variety of duties:
- Communicating with clients to understand project objectives
- Designing a plan with appropriate funding, scheduling, and staff
- Reviewing and selecting appropriate vendors or consultants
- Delegating duties to staff or consultants
- Managing finances to keep the project within budget
- Monitoring project timetables and milestones
- Identifying and resolving problems that interfere with completion
- Modifying plans to address problems or satisfy changing requirements
- Producing and distributing project documents
Nearly every industry requires large-scale projects, meaning project management specialists are in demand everywhere. Not only that, but the career is growing. The U.S. Bureau of Labor Statistics (BLS) predicts a 7% rise in employment for project management specialists across the nation over the next 10 years. This higher-than-average growth reflects an incredible need for talented professionals in this field.
Boosting Your IT Project Management Salary
Project managers are integral to the completion process of any large project. Since they use a diverse array of skills, their earnings tend to be higher than average. Salaries can vary depending on the specific job or industry, but they tend to be excellent. BLS lists a 2023 median annual pay of $98,580 per year for project management specialists with a bachelor’s degree.
With a master’s degree, however, comes the potential for even higher earnings. By earning a related graduate degree, you can increase your earning potential by around $10,000 a year. The higher credentials also make you more competitive in the job market. By providing additional skills and demonstrating your commitment, a master’s degree identifies you as a standout candidate.
Beyond the Money
While it remains an important factor, money is not the only reason to pursue a career path in information technology project management. People also look for other rewards such as intellectually engaging work, skill versatility, and opportunities to advance. Project manager careers offer excellent benefits beyond a high salary. These are just some of the reasons professionals find this field rewarding:
- Diversity: Project managers handle all kinds of endeavors, including information technology (IT) migrations, marketing expansions, or commercial construction sites.
- Variety: One job may involve planning, budgeting, risk management, stakeholder negotiations, and team coordination. It is never repetitive, keeping the work interesting.
- Impact: Skilled project managers contribute directly to successful outcomes. Their efforts make a tangible impact on the well-being of a business or organization.
- Learning: The project management field is always evolving with new methodologies and technologies. The same is true for anything involving information technology. Specialists never stop learning and improving.
- Development: Project managers develop strong administration and leadership skills that can be carried into any role or industry, allowing for professional growth.
If you’re looking for challenging work with opportunities for continued education and development, then IT project management may be the career field for you.
Becoming an IT Project Management Specialist
Make the most of your project management career with a degree from Saint Mary’s University of Minnesota. Our M.S. in IT Project Management degree trains graduates to manage projects within the information technology industry by combining project management and IT courses.
Students learn advanced tools and techniques needed to become talented and dynamic IT project managers. This two-year hybrid program features academic coursework that prepares students for professional certifications, including:
- Project Management Professional (PMP)
- Agile-PMI
- Certified ScrumMaster
- Certified Product Owner
Take Your First Step Toward an IT Project Management Career
If you are ready to begin your career journey, take your first steps with Saint Mary’s University of Minnesota. We are a private, nonprofit Lasallian Catholic university with a commitment to faith-based excellence. To learn more about how Saint Mary’s can help you start an IT project management career, consult our admission team. Request more information to begin your enrollment process today.
