How Much Does Project Management School Cost?
Project Management School Prices
Project managers coordinate human resources and operations around the completion of a specific, temporary goal (or project), such as constructing a building, developing new technology, or launching a new product. Successful project management demands organization, vision, planning, assertiveness, and communication, among other skills.
Project managers can be found in all types of organizations—from construction to manufacturing to engineering—and their skills are increasingly in demand. Formal project management training is available at the certificate, associate's degree, bachelor's degree, master's degree, and PhD degree levels.
Project Manager Considerations
Given the diverse skill set that project managers possess and the variety of fields they work in, summarizing the career in a paragraph or two is all but impossible. To learn more about this challenging yet rewarding profession, spend some time on the Project Management Institute (PMI) website. Good places to start are the pages: “What is Project Management?” and “Who are Project Managers?”. The Bureau of Labor Statistics (BLS) also provides a good overview of what it takes to manage projects.
Anyone interested in a project management career should also find the following information useful:
Salary and Job Prospects
According to 2011 data collected by PMI, the median salary of project managers in the Unites States is $105,000 per year. By definition, median salary means that 50% of project managers earn less than this amount and 50% earn more. Globally, the median annual salary of project managers is $92,000.
The same survey that produced this salary data also indicates that the income of project managers is on the rise across the world. PMI additionally notes that over the next decade there will be approximately 1.2 million project manager positions around the world to fill each year.
The PMI Global Accreditation Center for Project Management Education Centers (GAC) provides accreditation for bachelor's, master's, and doctoral degree programs. Attending a GAC accredited program ensures that students receive an education in project management that meets exacting standards of quality. It also puts students on course to receive professional certification, including Project Management Professional (PMP) and Program Management Professional (PgMP) credentials.
Becoming a project manager, however, isn't dependent upon attending a GAC accredited project manager academic program (read what the U.S. Department of Education has to say about accreditation). Students interested in attending a project management education program accredited by the GAC can click here (for North American programs) or here (for a global directory).
Project Management School Average Costs
The actual costs of project management education programs vary significantly. Check with individual schools for the most accurate pricing information.
Expect to pay the following approximate amounts to earn a degree in project management:
- Associate's degree: $6,000-$6,500
- Bachelor's degree: $35,000-$115,000
- Master's degree or PhD: $15,000-$70,000
- Note that the prices above are for tuition and fees only. Room and board, books, and other associated educational costs are extra.
- Source: The College Board Trends in College Pricing 2012
- Earning a certificate in project management—which can not only advance one's career but also satisfy the education requirement necessary to take one of PMI's certification exams and/or generate credits towards a degree in project management—costs approximately $5,000 to $10,000.
- Financial aid can help you pay for an education. Learn more at the U.S. Department of Education federal student aid website or by contacting the financial aid department of individual schools.
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