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What is Project Manager? Know about the salary

Last updated on 28th Jan 2023, Artciles, Blog

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Shamila (Data Architect )

Shamila is the Sr. Data Architect with 5+ years of expertise in ABC analysis, SPI, Factory Overhead, R&D Capex, sunk cost, economic order quantity (EOQ), and EAC. Her articles assist in sharing information and abilities in core fields and provide students with informative knowledge.

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    • In this article you will get
    • Introduction
    • How much do Project Managers make?
    • Project manager responsibilities
    • Project manager salaries around the world
    • What is the average Project Manager salary in India?
    • Comparing Project Manager salary with others

Introduction

There are several reasons to become a project manager, whether you want to progress your career or actually make a difference in your firm. However, before making a big job change, you should research project manager wage trends.In terms of expansion, the road ahead appears favourable for project management. As the sector is expected to grow by 33% between now and 2027. This equates to approximately 22 million jobs.If you’re considering a job as an entry-level project manager or want to further your abilities and become a senior project management, we’ve got the pay data you need to get started now.

Project manager

How much do Project Managers make?

A project manager earns an average of $75,524 a year in the United States. This may alter when variables such as certification, region, and professional background, including years of experience, are included.

1.Physical geography:

Where you choose to work has a direct influence on your earnings. This is mostly due to variables such as job demand and the cost of living in the specific location. Switzerland is the place to go if you want to make a lot of money. In Switzerland, the average yearly compensation for a project manager is 130,000 CHF (or $130,966 USD).

The United States comes in second at $112,000 per year. A project manager’s yearly income in Australia is 142,000 AUD (or $108,593 USD), a project manager in Canada gets more than C$82K, and a project manager salary in India is 1.563M.

2.Expertise:

Your project manager compensation will be mostly determined by your level of experience.In the United States, project managers with less than two years of experience are termed novices. Once again, your entry-level project manager income will be determined by your region. In New York, for example, you would earn more than $98K a year, but in Hawaii, you would earn $88K.

Finally, after at least six years of experience, you can earn a senior project manager pay. Senior project managers in the United States earn $123K per year, which is one of the highest project manager salaries in the world.

3.Training and certification:

A project manager may begin their job out of necessity in some cases. For example, your supervisor need someone to handle a project, but you operate in a completely different capacity.

If project management is not your area of expertise, you may self-teach using resources such as instructive articles, videos, and online courses. While this is a great method to get started in the field of project management, certification is the cornerstone of a prosperous career.However, project managers with Project Management Professional (PMP) certification earn up to 16% more than their non-certified counterparts.

4.Industry and job description:

The sector in which you work will also have a significant impact on the compensation you earn as a project manager. A construction project manager pay in the United States, for example, will average $89K per year, an IT project manager salary will average $104K per year, and a PMP project manager income would average $161K per year.

If you lack the necessary credentials or experience to become a project manager, working as an assistant project manager may be a smart first step. In the United States, the typical assistant project manager compensation is $76K per year.

Responsibilities of Project manager

Project manager responsibilities

According to Workzone, a project manager (PM) is an organised, disciplined, personable person who makes sure that a project’s milestones (or sub-deliverables) are finished on time and using the allotted volume of resources, resulting in adherence to the deadline and expected quality standards within a pre-estimated budget.

A good project manager is responsible for ensuring that a project is completed on schedule, that it does not run over budget or waste resources, and that the work is of excellent quality. They communicate with leadership/clients and team members to make needs a reality. Project managers also create thorough project plans and are knowledgeable in risk management and dispute resolution.

Project manager salaries around the world

As previously said, where you work has a significant impact on what you make as a project manager, entry-level project manager compensation, or otherwise. Here is a list of project manager salaries from across the world:

  • AUD$142K per year in Australia.
  • Switzerland – CHF130,000 per year.
  • Annual salary in the Netherlands is €66,321.
  • Germany: €63,500 per year.
  • NZ$100,000 per year in New Zealand.
  • €3,748 per month in Belgium.
  • Sweden – 47,500 SEK per month.
  • Remember to factor in the cost of living before making any radical job changes based only on project manager salary.

How much does a project manager make on average in India?

A Project Manager’s compensation in India ranges between 5,000 and 25,000. A Project Manager makes an average of Rs. 1,00,000 per year in India. PM salaries are greatest in Mumbai, Delhi, and Bangalore, where they might earn up to $150,000 per year.

Salary based on location:

  • Mumbai: ₹15,00,000
  • Delhi: ₹11,00,000
  • Bangalore: ₹10,00,000
  • Chennai: ₹9,00,000
  • Hyderabad: ₹8,50,000
  • Pune: ₹7,00,000

Salary based on experience:

  • Entry-Level (0-5 years): ₹5,00,000.
  • Mid-Level (5-10 years): ₹12,00,000.
  • Senior Level (10-15 years): ₹14,00,000.
  • Director Level (15+ years): ₹22,00,000+.

Salary based on skills:

  • Project Management Software: ₹10,00,000.
  • Microsoft Certified: ₹11,00,000.
  • Project Coordinating: ₹14,00,000.
  • Agile Software Development ₹18,00,000.
  • Information Technology Infrastructure Library (ITIL): ₹19,00,000.

Comparing Project manager salary with others

As the discipline expands, more project managers will enter the profession after graduation. Project managers will benefit from pursuing their PMP certification in order to earn a higher income and obtain the project management abilities required to succeed in their profession.

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