There are several factors that influence project manager salaries. One such factor is the number of years of experience a project manager has. Generally, project manager salaries tend to increase in line with their tenure.
Another influencing factor is PMP® certification. Holding a PMP® certification for a longer period of time can also impact a project manager's salary.
The position level of a project manager is also significant. Entry-level project managers will obviously have a different salary compared to senior project managers or project manager directors.
Education is also a factor that can affect project manager salaries.
Lastly, the location of the job plays a role in determining a project manager's salary.
The salary range for a Software Development Project Manager is highly diverse, with differences of up to $45,500. This indicates the presence of numerous possibilities for career growth and higher earnings based on factors such as proficiency, geographical location, and work experience.
The role of a software developer has consistently ranked in the top 10 of technology-related jobs for several consecutive years. This is primarily due to the combination of a competitive median salary and a favorable working environment. Additionally, pursuing a career in software development offers significant opportunities for professional growth.
Paid project management software tools typically provide better customer support compared to free tools as they strive to meet higher expectations. This added level of support provides users with reassurance that the software will be reliable. In cases where issues arise, there will be qualified staff available to provide assistance.
A project manager in software development needs to have the ability to understand the overall scope of the project and break it down into smaller, manageable tasks. It is crucial for them to be able to analyze and strategize and create a roadmap for the project's success.
Additionally, critical thinking and problem-solving skills are essential for a project manager in software development. They need to be able to identify potential obstacles or challenges and come up with effective solutions to overcome them.
According to Glassdoor data as of July 2023, the average annual base salaries for certain positions in the US are as follows:
Project coordinator: The average salary for a project coordinator is $53,937.
Assistant project manager: On average, assistant project managers earn a salary of $74,656.
Senior project manager: The average salary for a senior project manager is $134,095.
Technical Program Managers (PgMs) are sought after for their meticulous attention to detail and exceptional leadership abilities, enabling them to transform concepts into tangible products. Their annual salaries typically range from $84,000 to $164,000, with an average income.
A senior program manager assumes responsibility for coordinating different operational facets of a project, ensuring smooth execution and successful outcomes.
According to Glassdoor, the average base salary for a technical project manager in the United States is approximately $111,037. Entry-level technical project managers can expect to earn a base salary of around $69,241, while senior technical project managers may make around $124,430.
The highest paying company for entry level project managers in the insurance industry is Allstate.
The career outlook for product and project management roles is promising as these positions play a crucial role in ensuring efficient operations, program management, and product development for companies.
The average salary for entry level project managers in the United States is projected to be around $75,000.
An individual aspiring to become a project manager may begin by gaining experience in a specific industry before progressing into this role. Subsequently, they have the opportunity to advance their career and potentially become a senior project manager, director, or even reach executive positions such as vice president.
The estimated total pay for a Software Project Manager in the United States is approximately $112,752 per year. This figure represents the median salary, which is based on data collected from our users and calculated using our proprietary Total Pay Estimate model. On average, Software Project Managers earn around $94,512 per year.
Project management certifications are now commonplace and considered essential in shaping a successful career, with a direct influence on project manager salaries. Employers and clients perceive these certifications as indicative of professionalism. One such certification, the Master Project Manager certificate, focuses on enhancing business and technical skills, enabling faster project delivery. This blend of expertise enhances your competitiveness in the job market and can result in a higher salary.
The Project Management Professional (PMP) certification is instrumental in securing project manager roles, leading to increased pay and advancement opportunities. On average, project managers earn $85,365, while software project managers earn around $115,181. According to PMI, non-certified project managers in the U.S. earn a median annual salary of $93,000, while PMPs earn a median wage of $123,000 per year, representing a 32% increase compared to their non-certified peers.
Earning a project management certification not only validates your skills and experience, but it also enhances your chances of securing a higher salary from potential employers.
In addition, according to PMI, project managers with PMP certification earn approximately 16% higher salaries annually compared to their non-certified counterparts worldwide. In the United States, PMPs earn 32% more than project management professionals without certification. It is evident from PMP certification salary statistics that this certification holds significant value.
Obtaining a project management certification can provide employers with confirmation of your skills and experience, potentially resulting in a higher salary. This certification can help validate your capabilities as a project manager and enhance your professional prospects.
There are several strategies that you can implement to increase your project management salary. One strategy is to pursue an industry-specific education, as having a solid educational background is crucial for career advancement.
Another effective way to increase your project management salary is to continuously build up your experience in the field. By consistently taking on new projects and expanding your skills, you will become a more valuable asset to potential employers, which can result in higher pay.
Enhancing your CV with relevant certifications is also a great way to boost your earning potential as a project manager. Employers often value certifications as proof of competence and expertise in the field.
Consider exploring job opportunities in higher-paying industries, as different sectors often have varying salary ranges for project management roles. By strategically transitioning to an industry that offers better compensation, you can significantly increase your earning potential.
Finally, focusing on bigger and more complex projects can also lead to higher salaries. Successfully managing large-scale projects showcases your ability to handle greater responsibilities and can make you eligible for higher pay grades.
The US Bureau of Labor Statistics (BLS) has reported that the median salary for project management professionals in the US in 2022 is $95,370. The bottom 10 percent of professionals in this field earn a median salary of $52,500, while the top 10 percent earn a median salary of $159,150 [1]. It is important to note that these salary figures are specific to the US and may vary depending on various factors.
According to a study conducted by Team Gantt in 2022, project managers with over 20 years of experience in Switzerland earn an average annual salary of $162,672, making it the highest average salary in this field.