Project Manager Salary

Project Management is an important and highly valued profession in many industries, and the salaries of project managers reflect this. However, the average project manager’s salary varies significantly from industry to industry, and even within the same industry, salaries can vary greatly depending on a person’s experience and work location.  

In this blog, we’ll look at the average Project Manager’s Salary and discuss the things that can affect their pay. 

How Much Do Project Managers Make?

According to the Bureau of Labor Statistics, the average salary for a project manager in the United States is $109,000 per year. This is much more than the average salary across all jobs, which is $40,820. But it’s important to remember that these numbers show a limited pay range that project managers can get.

 Factors Influencing Project Manager’s Salary

Many aspects affect the salary of a project manager. We’ve talked about these things in great detail below. Before you decide what to do next, think about all of these things:

  • Experience
  • Location
  • Industry
  • Skillsets
  • Job Roles
  • Company

Let us understand exactly how the mentioned pointers affect the project manager’s salary in the upcoming sections.

  •  Experience

Generally, the more experience a project manager has, the higher their salary. This is because experienced project managers can handle difficult projects and take on more responsibility. 

The survey from PayScale revealed the following details:

Experience (Based on the level) Years of Experience Salary (Payscale, December 2022)
Entry-Level <1 $59k
Early Career 1-4 $67k
Mid Career 5-9 $80k
Late Career 10-19 $90k
Experienced 20+ $93k
  • Location

The location of the project manager can also significantly impact their salary. For example, project managers in major cities/countries tend to command higher salaries due to the higher cost of living. 

The project manager’s salary details in different locations are as follows:

Location  Salary (Payscale, December 2022)
USA $76,314
UK $49520 (£40,382)
India $16536 (?1,365,861)
Australia $68959 (AU$101669)
Canada $55710 (C$76,127)
  • Industry

As mentioned, the type of industry a project manager works in can significantly impact their salary. Different industries pay project managers differently. For example, construction project manager’s salary is $67,853, while a project manager in the healthcare industry earns around $73,547.

The below depicts the project management salary across the different industries based on the research done by Payscale:

Industry Salary (Payscale, December 2022)
Construction  $67,853
Agriculture $92,887
Finance $170,000
Healthcare $73,547
Pharmaceuticals $79,301
  • Skill Sets

Soft skills can be learned in the classroom, in the real world, and on the job. Technical skill is another thing that makes a difference. For example, if the job is in project management for construction, having a lot of sketching skills would look good on your resume. This would also improve your chances of getting paid well as a first-time project manager.

The pay of a project manager depends on many different skills. Here are the list of project management skills and their respective salary:

Project Management Skill Salary (Payscale, December 2022)
Project Management $76,560
Project Coordinating $72,880
Strategic Project Management $80,321
Client Interaction $74,523
Communication $74,083
  •  Job Roles

This is another way to look at average salaries. Different job positions earn differently. According to PayScale, the following are the median annual salaries for these other job titles:

Job Roles Salary (Payscale, December 2022)
Project Manager (Unspecified Type / General) $77,334
Project Engineer $73,607
Director of Operations $94,087
Operations Manager $71,039
Mechanical Engineer $77,489
Information Technology (IT) Manager $92,751
Project Manager, Information Technology (IT) $89,988
  • Company/Employer

Salary greatly affects how well an employee does their job. The more employees are paid fairly, the better they will do their jobs. On the other hand, workers will do less work if they make less money. Similarly, different companies pay differently. Let us look into it deeply now:

Company Name Project Management Salary (Payscale, December 2022)
Northrop Grumman Corporation $94,937
Booz, Allen, and Hamilton $109,640
Siemens $86,033
CISCO $93,173
Facebook $104,7766
IBM $88,898

Other Factors Affecting Project Manager Salary

Education

In most cases, project managers with higher levels of education, such as a master’s degree, will earn higher salaries than those without. The higher the education, the more salary is.

Certifications

Employers may be more likely to hire you if you have a Project Management Certification. This can lead to a higher salary sometimes. For example, the Project Management Institute polled professionals in the US and found that those with a Project Management Professional (PMP) certification could make 23% more than non-PMP certified.

Conclusion 

Project managers are in high demand and can earn substantial salaries. However, a project manager’s salary will depend on various factors as we discussed above. Understanding these factors allows you to determine the appropriate salary for your skills and experience.

Invensis Learning provides a wide range of Training & Certification courses for enterprises worldwide. We create effective training solutions to drive performance, improvements, and standards in real-world workplace situations.

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Lucy Brown has many years of experience in the project management domain and has helped many organizations across the Asia Pacific region. Her excellent coordinating capabilities, both inside and outside the organization, ensures that all projects are completed on time, adhering to clients' requirements. She possesses extensive expertise in developing project scope, objectives, and coordinating efforts with other teams in completing a project. As a project management practitioner, she also possesses domain proficiency in Project Management best practices in PMP and Change Management. Lucy is involved in creating a robust project plan and keep tabs on the project throughout its lifecycle. She provides unmatched value and customized services to clients and has helped them to achieve tremendous ROI.

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