One of the most common questions we’ve been getting this month is “What is the average salary for a project manager?” So in today’s post, we’ll go over what the average project manager salary is and why it might not be as high as you expected.
The average salary for a project manager depends on what kind of project manager you are.
If you’re working in IT, the salary range is around $95K-$115K per year. If you’re working in construction, the range is around $83K-$98K per year. The most common title for these roles is “project manager,” but there are other titles you can use as well: systems engineer, process improvement specialist, and more.
What is the average salary for a project manager
This is a great question and one that is hard to answer because there are many factors that can affect a project manager’s salary. For example, your location (country, region, city), industry sector, years of experience in the field, education level and role all have an effect on salaries. On top of this, you also need to be aware that companies often use different titles for project managers, so they may not be included in salary surveys at all. Fortunately there is some data available to help answer this question and you should use it as a starting point for determining what you should earn as a project manager.
PMI’s Most Recent Salary Study
The PMI’s most recent salary study is from 2013. It includes data from over 15,000 project managers in 40 countries and 20 industries. The salaries of these professionals ranged from $10,000 per year to over $300,000 annually. The median salary for all project managers was $90,110 for the year 2012-2013.
Variations Within Regions
The average salary for project managers ranges from $70,000 to $120,000 per year. This can vary depending on the region of the world you’re in, however. In Europe and Asia, the average salary is lower than it is in North America or Africa; this trend continues across all continents when comparing them to each other.
In Australia, for example (which has a relatively high cost of living), project managers earn an annual salary of $86,000 on average—compared to just over $40k in South America and nearly $60k in Russia.*
Variations by Country
The average salary for a project manager varies from country to country. You can expect that, on average, a project manager in the United States will earn more than one in Russia. The main reason for this discrepancy is the cost of living and tax rates.
The average salary in Russia is lower than the US by about 25 percent.
However, if you factor in taxes and other benefits like retirement plans and healthcare plans (which are not covered by all employers), it’s likely that the actual income of a US-based project manager is higher than that earned by their Russian counterpart.
Variations in Industry Sector
In addition to the variations in industry sector, there are also significant differences in salary based on the type of company a project manager works for. For example, average salaries tend to be higher at large corporations and companies that specialize in IT services than they are at smaller organizations. Furthermore, project managers who work directly for government agencies typically earn less than their counterparts who work for private businesses or consulting firms.
Variations Within Types of Project Manager
As you may have noticed, there are many different types of project manager. The primary difference between them is their level of authority and responsibility. Some are responsible for managing entire projects while others oversee only a few employees or tasks involved in the overall task.
The following list can be used as a guideline when deciding what type of position you want to apply for:
- Project Manager: This person oversees an entire project from start to finish, including planning and leading its execution. They must have excellent organizational skills, strong interpersonal skills (especially with upper management), leadership ability, and technical knowledge about the company’s products/services/industry in order to succeed at this role.
- Program Manager: This person manages one or more programs instead of just one project at a time; they oversee multiple teams and work together with other program managers across different departments within an organization on larger-scale initiatives like product launches or mergers/acquisitions. Their duties include resource allocation across teams depending on needs; setting priorities among competing demands; developing budgets for specific initiatives; ensuring quality control standards are met; monitoring activities closely so changes don’t occur without notice (that could cause delays); reviewing deliverables regularly with team members during deadlines so that changes can be made immediately if necessary; communicating regularly with stakeholders throughout all phases of each initiative so everyone stays informed about progress made thus far – these conversations should happen face-to-face whenever possible but meetings over phone lines may need also take place occasionally depending upon circumstances surrounding each unique situation (such as if someone cannot attend an initial meeting due t
Average Project Manager Salaries by Years of Experience
As you can see from the graph above, there is a pretty big gap between entry level and experienced project managers. The median salary for an entry-level project manager is about $54k per year, while the median salary for an experienced one is more than $100k per year. It’s no surprise that people with more experience tend to earn more money in their careers; they have more skills and they’ve had time to learn how to communicate effectively with team members and clients.
What makes this particular statistic so interesting is that it shows that even though you may not be making as much as your boss (the person in charge of managing a team), most likely you’ll still be making enough money to live comfortably without worrying about paying bills or buying food on the regular basis!
Other Factors Influencing Average Project Manager Salaries
Other important factors influencing project manager salary include:
- Experience. The more years of experience you have, the higher your salary will be.
- Education. A bachelor’s degree can earn you up to $74K and a master’s degree can earn you up to $90K—but don’t worry if you didn’t get a formal education on the topic! Project managers with certifications like PMP are compensated even more highly than their peers with college degrees and often start out at over $100K per year.
- Location/Industry/Role within Company. These three factors all play an important role in determining how much a project manager earns in any given industry or location compared to others in that same industry or city who hold similar positions (or not). For example, if you live in New York City where there is high demand for PMs due to its size and growth potential then expect pay ranges will be higher than those found elsewhere around America such as smaller towns where there isn’t as much demand for skilled workers like yourself! Or maybe there is less competition for jobs here because we’re located so far away from most other states? You could always try moving somewhere else nearby but it may not necessarily make sense financially since we’ve already established that our salaries are lower than average anyway.”
There are many factors that effect the average salary for a project manager
There are many factors that effect the average salary for a project manager. Some of these factors include:
- Experience. Project managers with more experience can expect to earn higher salaries than those with less experience, as they’ve learned how to maximize their time and efforts on projects.
- Industry sector. The industry sector in which you work also has an impact on your salary; some sectors pay higher than others do. For example, if you’re in the healthcare industry, then your salary will likely be higher than if you worked in government or education.
- Country where employed and working hours per week (if applicable). In different countries around the world (and even within each country), there are different standards of living based on how much money is made per hour worked by those who live there. Countries where people make less will typically have lower salaries for project managers relative to other countries with larger minimum wages – though this doesn’t always hold true since other factors like type of project management role being performed could influence wage potentials too based upon how valued said role might be locally compared against international standards set forth by organizations such as PMI International where most employers base their salaries off these benchmarks when determining base pay levels across various regions globally.”
Understanding factors that influence project manager salaries can give you a better sense of what you can earn, and how to maximize your earning potential. These include years of experience, the nature of the industry in which you work, the country or region where you reside, and whether or not your employer offers additional benefits that compensate for lower wages. You may also earn more if your job is full-time versus contract-based and if there are higher levels of demand for project managers in general.