Various factors can influence salary ranges, such as the duration of your experience in the field or industry, your level of education or advanced certifications, the number of employees currently in the position, the company's intention to recruit you and potentially offer a higher salary than your current role, and the presence of strong recommendations from previous employers and references.
An entry-level Business Manager with less than 1 year of experience typically earns an average total compensation of $54,695, which includes tips, bonuses, and overtime pay, based on 137 salaries.
For those in the early stages of their career, a Business Manager with 1-4 years of experience can expect to earn an average total compensation of $59,314 based on 1,288 salaries.
There are several ways to increase your pay as a Program Manager, IT. One option is to change employers and seek out companies that are willing to pay higher wages for your skills. Another way is to further your education by obtaining advanced degrees, which can expand your income potential and make you eligible for promotions.
The rise in program manager salaries can be attributed to a variety of factors, such as the increasing complexity of projects, the demand for specialized skills, and the high need for experienced program managers. Companies are willing to offer higher compensation to professionals who possess the ability to effectively lead their programs to achieve success.
Choosing a career as a program manager can be a promising option. Not only does it offer competitive salaries, but it also provides ample chances for personal and professional development. One of the advantages of a program management career is the ability to simultaneously explore opportunities in program management, product management, and project management.
Program managers receive not only a high salary, but also various employment benefits, including paid vacation, sick leave, and health plans. Utilizing online benefits calculators can assist in determining a reasonable total compensation package based on industry norms.
The job description of a program manager involves overseeing and coordinating various projects within an organization. They are responsible for ensuring the successful completion of these projects within budget and in line with the organization's objectives.
According to market reports, the job outlook for program managers remains robust and is anticipated to remain so. The primary employment sector for program managers is the aerospace and defense industries, which are less reliant on the public economy compared to other occupations.
The table below shows the median salaries based on years of experience:
For individuals with less than 2 years of experience, the median salary is $60,000.
For those with 3 to 5 years of experience, the median salary is $84,000.
Individuals with 6 to 8 years of experience have a median salary of $105,000.
Finally, for individuals with 9 years or more of experience, the median salary is $115,000.
A program manager (PgM) functions as a highly skilled project manager overseeing multiple projects. Their role is to offer strategic guidance to project managers who may have a narrower perspective due to their focus on individual projects. PgMs excel at coordinating various projects and resolving interdependencies between them.
Program managers possess a distinct strategic perspective in comparison to other types of managers, such as project managers or product managers. They have the ability to oversee the goals, risks, resources, and budgetary constraints of all company initiatives concurrently, granting them a highly advantageous position. In certain companies, the program manager role is associated with higher salaries, making it a potentially lucrative career choice.
Program coordinators typically earn an average annual salary of $43,954, while program managers earn an average of $95,919 per year. However, it is important to note that these figures can vary based on factors such as company size, job location, and the employee's level of experience.
This translates to an hourly rate of approximately $23.28. The equivalent weekly salary amounts to $931, while the monthly salary is $4,034.
According to recent data, the average annual salary for an entry-level Business Manager in the United States, as of June 23, 2023, is $95,777. To put it in perspective, this translates to an hourly rate of approximately $46.05. Alternatively, this equates to a weekly income of $1,841 or a monthly income of $7,981.
According to a survey of 316 individuals, the job satisfaction rating for Program Manager, IT is 3.9 out of 5. On average, Program Managers in the IT field report a high level of job satisfaction. The data is gathered from a total of 993 survey responses.
Source: Program Manager, IT Salary - PayScale.
A typical day for an IT program manager involves conducting meetings with subordinates, overseeing the IT workspace, and collaborating with other departments. The responsibilities of the role are aligned with the department's needs and tasks performed by the team.
Obtaining a business program manager certification can enhance your career prospects by opening doors to a wider range of business program manager positions that offer higher salaries.
Not all program manager certifications offer equal value for job seekers. Here is a compilation of the top program manager certifications to consider. Obtaining a program manager certification can enhance job application prospects and potentially lead to higher salaries.
The program manager career path involves various job roles and responsibilities, encompassing overseeing multiple projects and achieving overall program objectives. Program managers are responsible for managing a set of projects that contribute to a larger program or objective.
To become a program manager, individuals need to pursue a suitable career path and acquire the necessary skills and qualifications. This can include pursuing specialized training and education, gaining experience in project management roles, and actively seeking opportunities to develop relevant skills.
Additionally, certifications can play a vital role in upskilling and advancing in the program management field. Obtaining industry-recognized certifications can demonstrate expertise and enhance career prospects for aspiring program managers.
The average salary for a Program Manager in the United States is $146,993 as of August 27, 2023. However, the salary range typically falls between $126,510 and $168,732. The actual salary can vary depending on factors such as education, certifications, additional skills, and years of experience in the field.
To enhance your career in program management, it is essential to continuously improve your skills and stay updated with the latest program management tools and trends. One effective way to achieve this is by enrolling in an online course or obtaining a certification in program management.
By pursuing these educational opportunities, you can expand your knowledge and expertise in program management, which can significantly benefit your career growth and open doors to new opportunities.
Coursera, for example, offers a course specifically designed to guide individuals interested in becoming program managers. This course can provide valuable insights and practical skills that can help you succeed in the field of program management.