In particular, project managers who have been having the certification for less than five years but not below one year qualify for a salary of $ 110,157. If you have held your PMP certificate for at least five years and up to nine years, you can expect to take home $ 129, 644. As a Project Manager, the industry you work in has a considerable influence on your annual earnings. Top-paying industries have complex projects that often need specialized knowledge of some software and related tools. Besides, the skillset for one project may be different from that of other projects. This means the few individuals will the required skills will be offered high pay as organizations compete to have them manage their projects.
Hourly Salary for Project Managers
But with a PMP certification, you can expect earnings of $ 123, 314 and if you have had it for less than a year, then your annual salary averages at $ 98,679. Project Managers who have been having the certification for more than a year can expect a higher pay and this also varies with the number of years you have been having the PMP certification. On the other hand, business transformation projects attract a higher salary compared to all the above projects. A Project Manager overseeing a business transformation project can anticipate to part with an annual salary of $ 123,546. This indicates that business transformation is among the thriving industries and organizations in that sector are willing to pay more in order to have their projects executed successfully. Like other industries, the salary of professionals in project management is determined by their level of experience in the profession.
PMP Certification Salary vs. MBA Comparison
- Project Manager salaries are based on responses gathered by Built In from anonymous Project Manager employees in US.
- It’s important to remember that methodologies and techniques often depend on the industry, company culture, and type of project.
- As such, remote project manager salary is usually comparable to in-house roles.
- However, the industry with the highest pay for project managers is the oil and gas extraction industry, which boasts an average project manager salary of $151,750, though only employment of 860 of them.
- The salary data that PMI has collected from its members and credential holders can provide valuable insight into the salary you can expect after obtaining your PMP certification based on your current role.
- PMP certified respondents reported earnings 33% higher, on average, than those without PMP certification.
We’ve already gone into detail on the various factors affecting project manager salary, important skills to obtain, and different certifications to pursue. The average PM salary tends to vary greatly between industries, companies, and geographic regions. However, overall experience in project management also plays a significant role in determining salary. Although the BLS doesn’t distinguish between IT and other types of project managers in its projections, it does have a category for information systems managers. Information system managers and IT project managers are not the same thing, but they do have overlapping responsibilities.
Project Manager Salary by Years of Experience
The areas that correspond to the highest pay—often major cities—tend to have higher living expenses. If you meet the PMP requirements, and are ready to take the next steps toward advancing your career, check out our PMP Certification Boot Camp. Our instructor-led courses are available in person in more than 20 cities Project Manager job as well as online. They cover all aspects of the examination and provide you with access to exam simulators and expertly-developed test-taking strategies to make sure you’re 100% ready for test day and on your way to passing.
In this article, we’ll discuss how much project managers typically earn and the factors that can affect salary. Whether you’re planning a new career or interested in comparing your salary to the national average, understand the average IT project manager salary range, as well as how some factors can influence your pay. According to PMI’s Project Management Salary Survey 13th ed, the median total income for a PMP Credential holder in the United States was approximately $122,000. Respondents with a PMP certification reported higher salaries than those without PMP certification — 33% higher on average across the 21 countries surveyed. Additionally, nearly two-thirds of survey participants reported an increase in total compensation (including salary, bonuses and other cash incentives) over the 12 months prior to completing the salary survey. Over 60% of survey respondents who received a compensation increase reported a boost of 5% or more.
According to Coursera, project management salaries tend to increase significantly along with the Computer programming degree level. While less significant than the other factors we’ve discussed, the project management methodology you work with could also impact your pay. For example, PMI Salary Survey participants who use Extreme Project Management techniques tended to earn more than those who used Agile, Lean, and Waterfall techniques 5. 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. Your salary as a project manager ultimately depends on a variety of factors.
Compare project manager salaries for individual cities or states with the national average. The highest-paying cities for project managers are San Francisco, CA, Boston, MA, and Jersey City, NJ. Generally speaking, the more time you’ve worked as a project manager, the more you can expect to earn. Luckily it doesn’t take long for experience to start translating into more money. Visit our other pages focused on salary and education for project managers. According to the PMBOK Guide, a portfolio constitutes programs, projects, operations, and other portfolios that are managed together to realize strategic objectives.