Project Management
A degree in project management equips students to organize projects of various scope, such as overseeing the construction of a large shopping center, coordinating relief efforts after a natural disaster, or organizing the expansion of a business into a new overseas market. A project management degree program prepares students to complete projects on time and on budget. Even with the downturn in the economy, the employment outlook is positive due to a growing shortage of project management talent, according to the Project Management Institute. The key is to seek out growing industries, such as health care, infrastructure development and green technologies.
Common Career Paths:
Cost Estimators
Cost estimators are responsible for making a realistic prediction about an entire project's cost based on his or her research into the cost of line items like materials, equipment and labor. Cost estimators may break down a project into phases and provide their client with an estimate of how much each phase of a project will cost. Where cost estimators often come into play is when a company or government entity sends out a request for proposals (RFP) to general contractors for projects they need completed. Those contractors often enlist the help of a cost estimator to provide an accurate cost estimate in the proposal. Part of a cost estimator's job is to research the duration of the project, and thus come up with a close approximation of how much it will cost to pay workers during that timeframe. While they perform much of their work in an office, they must often visit construction worksites or factory work floors when gathering information. The majority of cost estimators work in the construction industry (about 59 percent), but a solid 15 percent find employment with manufacturers, according to the U.S. Bureau of Labor Statistics (BLS). The average annual salary of cost estimators is $56,510, but pay varies significantly depending on the type of industry they work in, their education level, as well as how many years of experience they have, according to the BLS. Job prospects are good, however, as employment is projected to grow a whopping 25 percent between 2008 and 2018, the BLS notes.
Construction Managers
Construction managers are the men and women in charge of a construction job site and the go-to person who keeps the job on task. They are responsible for planning, directing and coordinating various construction projects, and typically specialize in a particular type of construction, such as residential, commercial and industrial construction. They may be the only construction manager on the job site or they may work as part of a construction management team, overseeing a particular portion of the project while collaborating with other construction managers. Construction managers set schedules, hire workers, assign tasks, select subcontractors, acquire any needed permits or licenses, and ensure construction projects are completed on time and on budget. They typically aren't responsible for completing the actual labor, but they do have to make sure the construction workers assigned to the project are doing a quality job and take steps to make sure safety protocols are followed. The majority of construction managers (61 percent) are self-employed, according to the U.S. Bureau of Labor Statistics (BLS). Many work as general contractors. Faster than average employment growth is expected in the field, according to the BLS. However, today's economy has led to a slowdown in certain types of construction which could limit job growth. Bachelor's degree-holders and those with a construction background should have a better chance of landing jobs, the BLS notes. The BLS estimates 17 percent employment growth between 2008 and 2018. The average annual salary of a construction manager is $79,860, according to the BLS.
Industrial Production Managers
Industrial production managers oversee production activities at manufacturing plants, which involves managing staff, making sure manufacturing equipment is in working order and ensuring the plant meets goals for production quality and quantity. For small plants, there may be just one industrial production manager on site, but for large manufacturing plants, the manager may work as part of a management team and only be responsible for a single department. The industrial production manager must implement strategies to keep production churning, including motivating and training staff and correcting any problems that crop up that slow production. They also have to make sure that the goods being produced at the plant meet certain quality standards—everything must be packaged, sealed and assembled in a way that is attractive to the consumer. Being the one responsible for meeting deadlines and quotas can lead to long hours and can be stressful, so this is a job that is best-suited for efficient leaders who enjoy a challenge. Job prospects for industrial production managers is not as sunny as other jobs, and moderate decline in employment is expected between 2008 and 2018 due to the decline of overall manufacturing in America, according to the U.S. Bureau of Labor Statistics (BLS). Individuals who hold a college degree will have better job prospects in this field, however. Industrial production managers earn a respectable income as well. The average annual salary for industrial production managers was $83,290, according to the BLS. Your education, experience, geographical location and industry have a strong effect on your salary.
