Unlock the Key to Career Advancement with PMP Certification - Simplilearn Leads the Way!
Whether you’re looking to advance your career, or truly make a difference within your organization, there are plenty of reasons to become a project manager. But before you make a major career decision, you’ll want to consider a project manager’s salary trends.
The road ahead looks promising for project management in terms of growth. As the field is anticipated to increase by 33 percent through 2027. Relating to nearly 22 million jobs.
If you’re exploring the possibility of becoming an entry-level project manager or looking to develop your skills and move up to senior project manager, we’ve got the salary information you need to start scaling up your career today.
How Much Do Project Managers Make?
A project manager in the United States will earn an average of $75,524 per year. This may differ when you factor in variables such as certification, geography, and professional background, including years of experience. Here’s what the project manager salaries look like.1. Geography
Where you decide to work has a direct impact on how much you make. This is largely due to factors such as demand for the role and the cost of living in the particular region. To make the big bucks, Switzerland is where you’ll find the best compensation. A project manager’s salary in Switzerland is on average 130,000 CHF (or $130,966 USD) annually.
The United States averages a close second at $112,000 per year. The average annual project manager salary in Australia is 142,000 AUD (or $108,593 USD), a project manager in Canada earns over C$82K annually, and a project manager salary in India averages ₹1.563M.
2. Experience
Your project manager salary will largely reflect the amount of experience you’ve gained over the years.
Project managers with no more than two years of experience are considered beginners in the United States. An entry-level project manager salary will once again be based on your location. In New York, for example, you would make over $98K annually, while in Hawaii, you’d earn $88K.
Finally, you can reach a senior project manager salary once you’ve acquired at least six years of work experience. Senior project managers make $123K per year in the US, which is one of the highest project manager salaries around the globe.
3. Education and Certification
In some instances, a project manager may begin their career out of necessity. For instance, your boss needs someone to manage a project, but you work in an entirely different role.
If 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, it’s important to note that project managers with Project Management Professional (PMP) certification earn up to 16 percent more than their non-certified peers.
4. Industry and Job Title
The industry you work in will also largely influence the salary you earn as a project manager. For example, a construction project manager salary in the US will average $89K annually, an IT project manager salary in the US will average $104K annually, and a PMP project manager salary averages $161K per year.
If you are lacking the certification or experience to become a project manager, an assistant project manager may be a good stepping stone. The average assistant project manager salary in the United States is $76K annually.
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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Project Manager Salaries Around the World
As mentioned above, where you work plays a major role into what you earn 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 - AUD$142K per year
- Switzerland – CHF130K per year
- The Netherlands – €66,321 per year
- Germany - €63K per year
- New Zealand - NZ$100K per year
- Belgium - €3,748 per month
- Sweden – SEK47K per month
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 you can expect to see more and more project managers enter the workforce post-graduation. It will be beneficial for project managers to go for their PMP certification to earn a higher salary and gain the project management skills they need to excel in their role.
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)®.
Get Certified Today. Earn better Tomorrow.
If you’re ready to increase your professional opportunities and project manager salary, consider enrolling in our certification training courses. You’ll learn all about the latest practices, trends, and everything else you need to know for a successful project management career.
Whether you’re beginning your career in project management or applying for a senior project manager salary, improving your skill set will undoubtedly pay off in the long run.
The PMP® Certification Training from Simplilearn and UMass Amherst 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!
