Bouncing back after COVID-19

The 2023 APM Salary and Market Trends Survey highlights optimism in the profession. Here are the headline findings…

Happy and optimistic in work

Job satisfaction among respondents was very consistent, standing at 81% in 2023 vs 83% in 2021. The median average base salary for project professionals was £47,500, which has not changed for the fifth consecutive year. There was a drastic increase in the proportion of respondents who expected to increase their pay since 2021, with a rise from 48% to 65%. What’s more, 80% were optimistic that there will be a good supply of jobs in the next five years, up from 78% in 2021. After a sharp drop in 2021, the proportion of organisations looking to recruit has reached a five-year high, which could be a result of recovery from the COVID-19 pandemic.

Confidence, flexibility and opportunity

Respondents’ likelihood of changing employer increased in this survey period, returning to near pre-pandemic levels. Changing employment was fairly common, with 32% saying they are likely to change their job in the next 12 months, up from 26% in 2021. When asked why they were likely to change jobs, the most common reason was wanting to earn more (59%) and looking for a change (50%). When asked why they are unlikely to change jobs, the most common reason given was being happy with their current employer (62%) followed by being happy with their current role (52%). The 18- to 24-year-old group has the highest proportion saying they are unlikely to change employers (74%).

Where change is needed

Project professionals from ethnic minorities were more likely than their white counterparts to agree that their ethnicity has had a negative impact on their professional development (24% in 2023, down from 27% in 2021). There were also 30% of ethnic minority professionals who reported that they felt their ethnicity has had a positive effect on their professional development.

Overall, 15% of respondents considered themselves to have a disability or long‑term health condition. Of this group, 32% said it has had a negative impact on their career, while 21% said it has had a positive impact.

To access the report, visit the resources section of the APM website: apm.org.uk

Future skills

The below figures show responses to the question of what skills are needed to be a model project professional. Communication skills were the most valued skill, with 44% selecting it in their top three, followed by project leadership (38%) and stakeholder engagement (34%). Men were more likely than women to think that project leadership (42% vs 33%) and people management (33% vs 23%) were important, while women are more likely to mention communication skills (47% vs 42%).

44% Communication skills

38% Project leadership

34% Stakeholder engagement

29% People management

24% Planning and monitoring (and scheduling)

20% Risk management

16% Financial management (including budgeting, cost control)

16% Project governance

13% Resilience

12% Time management

11% Diversity of thinking

1% N/A – none of these are the most important

1% Don’t know

THIS ARTICLE IS BROUGHT TO YOU FROM THE SPRING 2023 ISSUE OF PROJECT JOURNAL, WHICH IS FREE FOR APM MEMBERS.