There are plenty of reasons to become a project manager, whether it’s the opportunity for advancement or the ability to truly make a difference within an organization. While non-monetary reasons differ from person to person, one thing is certain—project manager salary is always an essential component of the decision-making process when it comes to your career. The road ahead looks promising for project management in terms of growth: the project-management-oriented field is anticipated to increase by 33 percent through 2027 - almost a whopping 22 million jobs.
So in case you’re exploring the possibility of becoming an entry level project manager or looking to develop your skills and move up as a senior project manager, here’s all you need to make an informed decision regarding project manager salaries. We’ll compare the project manager salary difference between certified and non-certified project managers around the world and show you how to start scaling up your career today.
How Much Do Project Managers Make?
A project manager will earn an average of $66K per year in the United States. This may differ when you factor in variables such as certification, geography, and professional background, or years of experience, for that matter different organizations too. Here’s what the project manager salaries look like based on the aforementioned variables.
Where you decide to work has a direct impact on how much you make, based on such factors as demand and the cost of living in a particular region. To make the big bucks, Australia is where you’ll find the best compensation. In the land down under, a project manager salary is highest on average to the tune of $134,658 annually.
Switzerland averages a close second at $133,605 per year. The average annual project manager salary in the UK is £45,000. The average project manager salary in India is over 12 lakhs per annum. On the other hand, a project manager in Canada earns over C$82K annually.
2. Experience and Location
Your project manager salary generally will reflect the amount of experience you’ve gained over the years. Let’s say you’re starting an entry-level position in the United States, meaning no more than two years of work experience. Your entry-level project manager salary will begin at the lower end, once again depending on location. In New York, for example, you would make over $77K annually, while in Hawaii, you’d earn $62,888. A mid-level salary with three to five years of work background bumps you up to $101,957.
Finally, you can reach a senior project manager salary once you’ve acquired at least six years of work experience. Project managers make $110K per year in the US, which is one of the highest project manager salaries around the globe. Hawaii, on the other hand, doesn’t even break six figures with an average senior project manager salary of $98,403.
3. Education and Certification
If you have to begin your project management career out of necessity, for instance, your boss needs someone to manage a project, but you work in an entirely different role, and project management isn’t your specialty, you may self-teach and use resources like informative articles, videos, and free courses. While this is an excellent way to start exploring the world of project management, certification is the foundation of a lucrative career. However, you must note that project managers with Project Management Professional (PMP) certification beat out their non-certified peers by up to 16 percent.
Simplilearn in partnership with Purdue university also offers an expertly curated PG program in project management, that will help you reach that salary mark, and flourish in your career.
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Project Manager Responsibilities
According to Workzone: “A project manager (PM) is an organized, disciplined, personable individual who ensures that the milestones (or sub-deliverables) of a project are completed on time and using the allotted volume of resources resulting in adherence to the deadline and expected quality standards within a pre-estimated budget.”
Essentially, a good project manager is responsible for making sure a project is finalized on time, doesn’t go over budget or wastes resources, and ensures work is of high quality. They communicate between leadership/clients and their team members to turn needs into realities. Project managers also put together comprehensive project plans and have expertise in risk management and conflict resolution.
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To get a thorough hang of a project manager’s roles and responsibilities, you can start learning our tutorial now!
Project Manager Salaries Around the World
As we mentioned, where you work factors into what you make as a project manager, entry-level project manager salary, or otherwise, here’s a list of some of the project manager salaries around the globe:
- Australia - A$110K
- Switzerland - CHF130K
- The Netherlands – $64K
- Germany - €62K
- New Zealand - NZ$100K
- Belgium - €72K
- Sweden - KR 506K
Remember, you must crunch the cost-of-living numbers before making any drastic career moves based on project manager salaries alone.
Comparing Project Manager Salary with Others
As the discipline grows and PMPs continue to have higher salaries than those without PMP certification, you can expect to see the demand for project managers continue to increase, particularly those entering the professional workforce post-graduation. Furthermore, hard project management skills like the ability to use project management software and expertise in recognized project management techniques will become even more of a necessity. Professionals with PMPs/ PGPs will be preferable for hiring candidates.
Are you prepared enough to grab the aforementioned project manager salaries?Try this quick free PMP Practice Exam Questions and find out now!
Of course, PMP certification isn’t the only certification available to aspiring and seasoned project managers. A job board survey conducted by Business News Daily revealed what companies search for in terms of accreditation. Not surprisingly, PMP was the most widely-sought qualification, followed by Certified ScrumMaster (CSM)®, Certified Six Sigma Green Belt (CSSGB), Certified Six Sigma Black Belt (CSSBB), and Certified Associate in Project Management (CAPM)®.
Are you prepared enough to grab the aforementioned project manager salaries? Try this quick free PMP Practice Exam Questions and find out now!
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Whether you’re striving for an entry-level project manager salary or a senior project manager salary, improving your skill set will undoubtedly pay off in the long run. The globally-recognized PGP certificate from Simplilearn and Purdue University can help you land lucrative roles in IT, manufacturing, finance, healthcare, and other exciting industries. Get started today and grab that amazing project manager salary now!