As with most jobs, the amount of work experience you have will impact how much money you’ll make as a project manager. In the report, the median annual salary for project managers across all countries, roles, and experience levels was $57,911. Even more compelling, however, is that 34 percent of all project management jobs now prefer or require a graduate degree, according to a report by Burning Glass Labor Insight. Earning a master’s degree in project management will not only increase your salary but also your marketability. A strong graduate program can equip you with the specialized skills and hands-on experience you need to lead complex projects and advance your career.

In fact, PMI projects that employers will need nearly 88 million individuals in project management-oriented roles by 2027. Ensuring the completion of deliverables and milestones is a fundamental piece of the project management puzzle. Project managers should project manager course manage their time and that of their team members. Perhaps the biggest question is whether to seek a pay boost at your current employer, or decide to look elsewhere. Which you choose will depend on your situation and what internal opportunities are available.

How much money do project managers make in the US? I’m getting really crazy numbers from Google

There are several routes to a bigger payday, but most of them involve making sure the work you do and value you bring is visible, beginning with having the right mix of skills. Project managers are essential in successfully completing projects on time and on budget. Since they possess the ability to plan, organize, and lead teams—along with effective communication and problem-solving skills—they are invaluable to all industries and sectors. As a result, the demand for project managers is expected to rise as organizations recognize their value. In the U.S., the median salary for project managers is $116,000 across all industries, with most project managers earning between $93,000 and $140,000. 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.

Within the PRINCE2 project management model, executives refer directly to a project manager who represents a project’s overall business interest. Because project managers can work in so many different industries, the skill set and salary bands for people in this position can vary as the projects they work on. Project managers are the front-line officers of the modern white-collar workforce who plan and organize projects, and then shepherd them to completion, making sure they don’t take too long or run over budget. If you’re in this crucial position, you may rightfully feel it’s time to have your role recognized with improved compensation, either from your current employer or somewhere new. Becoming a certified project manager not only helps you enhance your salary, but it demonstrates to employers that you have the skills and knowledge to manage projects and teams successfully.

What are the basic elements of Project Management? Benefits vs Deliverables and Costs

Your boss, and their bosses, are the people you have to make recognize that value. I find it hard to believe that someone with a bachelor’s degree and 3 years of experience can become a senior PM and rake in 6 figures like that. Project managers also make up to 40 percent more if they are managing initiatives with budgets exceeding $10 million.

Project managers are commonplace in fields as diverse as software and app development, healthcare, construction and disaster relief. Equip yourself with additional credentials or skills to make a water-tight case. If something is lacking or missing altogether, use these five tips as a guide to help put you on a more secure path to achieving your goals.

Project Manager jobs in Los Angeles

As an example of pay range within experience, a mid-career project manager in New York can expect to earn $113,000 annually while someone with equivalent experience in Houston can expect $100,000. Alternatively, specializing in a particular project management methodology that is in particularly high demand can also help to increase your salary. A PMP certification is often preferred or recognized for promotions and career advancement. The certification is earned through the Project Management Institute, a globally-recognized association that promotes collaboration, education, and research within project management.

They are responsible for planning and monitoring all ongoing projects and their progress. Some companies may have them oversee project managers directly, whereas in other organizations, their authority and oversight might filter down through project directors. Project managers working in other areas are categorized as unclassified managers. We can get a general idea about salary information from these three industries. In top-paying project management industries such as the government, projects are more complex and often require specialized knowledge of particular software, making project management salaries higher than average. 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.

Highest-Paying Project Manager Jobs

For their experience and skill, project executives can expect to make a nationwide median annual wage of $158,226. 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. In fact, 93 percent of STEM jobs offer wages well above the national average, and the national median salary for all STEM positions is almost double the average wage for non-STEM roles. Exactly how much a project manager makes, however, depends on several key factors, including a manager’s level of education and experience, team size, region, and the company’s industry.

• The BLS reports that management analysts (a catchall term for change management consultants) make an annual median wage of $93,000 across all sectors.
• In addition, project salaries are typically high across all industries that hire PMs.
• Equip yourself with additional credentials or skills to make a water-tight case.
• Ensuring the completion of deliverables and milestones is a fundamental piece of the project management puzzle.
• Many experts say that getting a project manager salary boost requires operating at a higher level and shifting from a tactical to a strategic mindset.
• For example, you may choose to specialize and become a program manager or portfolio manager.

Project Manager salaries are based on responses gathered by Built In from anonymous Project Manager employees in Chicago. A large chunk of the project management process is promptly solving problems. They should also be able to proactively identify potential issues (and viable solutions) before they arise. The average salary for this role in the United States is $78,723, based on recent data from Salary.com. Change management describes a unique method of reorganizing a company’s assets, workforce or processes to reach a specific goal. Private equity and consulting firms such as Bain & Company and Prosci are proponents of change management and often employ consultants to spearhead those efforts.

Earning a certification or advanced degree can significantly increase your salary as a project manager. The BLS reports that management analysts (a catchall term for change management consultants) make an annual median wage of $93,000 across all sectors. The highest-earning consultants can command a median yearly salary of $100,170. When a company or team decides on a project, the decision of who keeps things moving and how is vital to its success.

The areas in which project management continues (and will continue) to thrive include computer systems and design services. Because information technology (IT) projects will only become more complex over the next few years, more project managers must manage this workload. Healthcare project managers specialize in coordinating healthcare programs and their operations. Sometimes, they may have the titles of healthcare executives or administrators. In most cases, a project executive is the head of the company’s project management team.

Managing Projects Over Managing Time

Within organizations of all sizes, project management is the process of planning and implementing an organization’s priorities. It is how companies create deliverables and put them in the hands of customers or stakeholders. Many experts say that getting a project manager salary boost requires operating at a higher level and shifting from a tactical to a strategic mindset.