A Bachelor’s in Project Management can lead to some of the most lucrative careers in the field of business management and administration. According to the Project Management Institute (PMI), the job outlook for project professionals is ‘extraordinarily positive’ in the years to come. Industries such as healthcare, manufacturing and construction, finance and insurance, management and professional services, information services and publishing and utilities will be the biggest employers of project managers. If you want to become a part of this high growth occupation, the following guide on a Bachelor’s in Project Management would be of great use to you. It provides a comprehensive look into this 4-year long degree, along with a thorough analysis of what you can do with it.
Opportunities with a Bachelor’s in Project Management
The job market for project managers is expected to grow exponentially, creating thousands of new jobs in the coming years. According to the latest data from the US Bureau of Labor Statistics, Management Occupations, including project managers, are expected to grow by 5% in the years from 2019 to 2029. This high growth would result in the creation of nearly 505,000 new jobs. The demand for project managers is likely to be fueled by the formation of new businesses and organizations along with the expansion of existing ones. This growth in business activity is likely to create a need for more workers to manage new projects.
How long does it take to earn a Bachelor’s in Project Management?
A Bachelor’s in Project Management would typically take 4 years to complete, in a full-time standard study format. This roughly translates to around 120 credit hours in eight semesters. Students who take summer semesters might be able to complete the degree sooner. In addition to that, students who opt for a part-time study option or online classes might have a longer overall timeline than 4 years.
How much does a Bachelor in Project Management cost?
The cost of a Bachelor’s in Project Management would depend on a number of factors such as residency status, tuition fee, scholarships, grants and financial aid. The average cost of a public four-year college for out-of-state students is $23,890, whereas in-state students had to pay $9,410. On the other hand, private institutes charged a lot more, with yearly tuition and fees amounting up to $32,410.
Students may actually have to pay more than the basic tuition fee, since they also have to account for housing, food, books, and transport and study supplies. Please note that in most cases, students do not actually end up paying these amounts from their own pockets. Potential financing options include grants and scholarships, where students do not have to repay the amount. Student loans are another possible option for financing a bachelor’s degree.
Should I get a Bachelor’s in Project Management?
Students who aspire to become project managers need to have at least a bachelor’s degree in order to be able to get good entry level jobs. Potential subject areas could include project management, business or computer science. Furthermore, students who want to pursue a Project Management Professional (PMP) certification in the future must have a four-year degree.
Even if you do not get a Bachelor’s in Project Management degree, you can still become a project manager. As long as your Bachelor’s degree is in a business or related field, you can get a job as a project manager.
What can I expect from a Bachelor’s in Project Management?
A Bachelor’s in Project Management would take years to complete with a full-time study format. Students enrolling in this program can expect to complete coursework in a variety of business areas such as statistics, risk management, accounting, decision making, human resources and contracts. Students may also be required to complete a capstone or final year project. Most programs at the bachelor’s level make it mandatory for students to complete an internship in a relevant field.
Bachelors in Project Management degrees might also offer concentrations in specific areas like construction management, Information Technology Management, Public and Nonprofit Management, Healthcare Management and Hospitality and Tourism Management.
How to choose a Bachelor’s in Project Management?
Before investing your time and money in a Bachelor’s in Project Management, students are advised to make sure that they are making the right decision. They should analyze the course structure to see if it matches their long term goals. In addition to that, the cost of a degree should be an important concern, especially if the student is planning to take out a student loan. Other factors to consider include the format of the degree (online or on-campus), faculty credentials, notable alumni, career placement options, policy on transferring credits etc. Applicants should also look at the potential internship and practical work options offered within the scope of the degree.
Accreditation for Bachelor’s in Project Management Degrees
One of the most important concerns to keep in mind when choosing a degree is the accreditation status of the program. Please note that students enrolled in programs that are not accredited by the relevant organization would not be eligible for federal financial aid. Accreditation plays an important role in determining the quality and legitimacy of a degree in the market. It also makes the process of transferring credits and navigating the job market easier for students.
Most universities offer project management programs through their business schools. Potential accrediting bodies for business schools include the Association to Advance Collegiate Schools of Business and the Accreditation Council for Collegiate Business Schools and Programs. Project management programs are also accredited by the Global Accreditation Center for Project Management Education Programs.
Admission Requirements for a Bachelor’s in Project Management
In order to be eligible for admission into a Bachelor’s in Project Management program, students will have to meet a series of admission requirements. Even though the requirements would vary from institute to institute, there are some common factors that all applicants would have to fulfill. For instance, most colleges would have a minimum GPA requirement, usually around 3.0. Colleges would also require documents such as an application form, transcripts, letters of recommendation and test scores. It is recommended that students apply to 6 to 8 schools in order to improve the chances of acceptance.
What can I do with a Bachelor’s Degree in Project Management?
A Bachelor’s in Project Management can lead to a number of popular career paths that have a high growth and lucrative salaries. No matter what industry project managers choose to work in, their basic job description would revolve around building teams, budgeting, communicating with top management and leading their projects to success. A bachelor’s degree can also be used as a stepping stone for a master’s in project management or an MBA.
Popular Career Paths
The following is a list of some of the most popular career paths a Bachelor’s in Project Management can lead to.
- Compensation and Benefits Managers: These professionals are responsible for overseeing the compensation and benefits programs for employees in a company. They focus on pay structures and also design and execute employee benefits programs such as health insurance and leave policies.
- Industrial Production Managers: These professionals work in industries such as transportation equipment manufacturing, food manufacturing and fabricated metal manufacturing and oversee daily operations. Industrial production managers usually hire and manage their team, along with analyzing data and writing reports.
- Construction Managers: These project managers are in-charge of everything involved in a construction project, such as planning, organizing and overseeing a project. They make cost estimates, create reports to show performance, select and manage a number of subcontractors and interpret technical reports.
- Administrative Services Managers: Organizations across the board require administrative managers, who are responsible for planning, coordinating and leading the administrative aspects of a company. Among their tasks are managing records, keeping track of office security and making sure that the company is compliant with laws and regulations.
- Medical and Health Services Managers: These professionals are employed by hospitals, nursing homes, home health service managers or physician’s offices. They are involved in planning and directing of medical facilities and pay special attention to the regulatory and legal aspect of healthcare management.
How much money can I make with a Bachelor’s in Project Management?
The salary potential with a Bachelor’s in Project Management would depend largely on the career path you choose. For instance, the median salary for Construction Managers in 2020 was $97,180, Compensation and Benefits Managers made an annual median income of $125,130 and Industrial Production Managers made an annual median income of $108,790 in 2020. Please note that this salary data has been extracted from the US Bureau of Labor Statistics .
Certifications and Licenses You Can Get after a Bachelor’s in Project Management
After the successful completion of a Bachelor’s in Project Management, graduates can go for several certification options, such as the following:
- PMI Agile Certified Practitioner
- Program Management Professional
- Project Management Professional
- PMI Professional in Business Analysis
- Certified Associate in Project Management
Students are advised to research well into the eligibility requirements of each of these certificates before deciding on one option.