Many project managers see median salaries of more than $100,000, and salaries are continuing to rise. In fact, of project managers included in the Project Management Institute’s (PMI) 2022 salary survey, 50% reported that their salaries increased in the 12 months prior to completing the survey. Senior project managers typically earn higher salaries, with an average of $120,000 annually. Most senior-level roles in project management require either prior experience or a related degree in the field, but there are some exceptions.
Average project manager salary
A global study found that professionals with a PMP certification earn 22 percent more on average than those without one across all countries and industries. In the U.S., a project manager with a PMP certification makes $120,000 annually as compared to $95,000 without one. Knowing the great demand for project managers, take a deeper dive into how these six factors can add more money to a project manager’s paycheck.
- On the other hand, project management salary growth has reduced outside the UK, decreasing by 22% from £67,500 to £52,500, and the percentage of top earners abroad has gone down from 43% to 35%.
- It’s important to note that these numbers represent the average salary for a project manager in the US.
- Project management salaries within the science, technology, engineering, and math (STEM) fields are especially high due to the rapid growth and demand in these industries.
- They are also influenced by various factors like economic conditions and the standard of living in different regions.
- The more experience an individual has, the more likely they are to earn a higher salary.
Project Manager Salary: Your 2025 Guide
According to Coursera, project management salaries tend to increase significantly along with the degree level. Glassdoor reports that the top-rated companies with over 10,000 employees that are hiring project managers include IBM, JPMorgan Chase & Co., NVIDIA, and Deloitte. If you’re looking to maximize your paycheck, consider these components of the pay equation. Afterward, if you’re interested in building your project management skills, consider enrolling in the Microsoft Project Management Professional Certificate. In this program, you’ll gain knowledge of project management terminology, methodologies, and best practices and learn to apply them effectively in real-world scenarios. There are also different kinds of Project Managers, and their salaries vary considerably.
Developing new business solutions
While less significant than the other factors we’ve discussed, the project management methodology you work with could also impact your pay. For example, PMs who responded to the PMI Salary Survey and who used Extreme Project Management techniques tended to earn more than those who used Agile, Lean, and Waterfall techniques. A PMP certification can increase a project manager’s compensation by up to 22%, showcasing their expertise and often resulting in a higher salary. Higher education levels also correlate with Project Manager job increased salaries, as do hands-on experience and continuous learning.
- The average salary of a project manager in the UK is constantly changing and developing.
- Earning a project management certification can help validate your skills and experience to employers.
- When thinking about location, it’s important to consider the cost of living as well.
- Not only do you need to forecast risks with some degree of certainty, but you also need to address unexpected issues as they arise.
- The project manager’s salary in India varies based on industry, location, and experience.
- With extensive experience and obtaining certifications like the PMP, project managers can move into executive roles, such as a PMO manager or a director of project management.
In addition to enhancing your earning potential, earning a higher degree might also make you more competitive in the job market. Explore courses like the Business Foundations specialization from the Wharton School of the University of Pennsylvania to discover the path that’s right for you. Another data point that someone thinking about a career path should consider is whether or not jobs are expected to see growth in the future. The chart below looks at projected employment for project managers over the next 10 years.
Generally speaking, PMs on the west coast of the US make more than their counterparts on the east coast or within the midwest. However, there are some exceptions, especially when it comes to major metropolitan areas. The answer depends on a variety of factors—including Programming language what your definition of good is. Earning a higher degree can lead to higher salaries and make you more competitive in the job market.