The six courses included in this certificate cover such skills as project documentation, Scrum approaches, executing and closing a project, and more. 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. Below, take a deeper dive into how these six factors can add more money to a project manager’s paycheck. Project managers create teams, divide tasks, set deadlines and communicate across teams to keep projects on track. Learn what you need to know, from in-demand skills to the industry’s growing job opportunities.
- It’s very common for large companies to pay $120,000-plus for Project Managers, and Indeed even reports that ExxonMobil pays its Project Managers $255,000 annually.
- Your cash compensation in this field ultimately depends on a variety of factors.
- Analyze the market and your qualifications to negotiate your salary with confidence.
- 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.
- While the PMP is certainly a highly-respected credential, it’s not the only one.
It’s very common for large companies to pay $120,000-plus for Project Managers, and Indeed even reports that ExxonMobil pays its Project Managers $255,000 annually. Northeastern’s Master of Science in Project Management embodies all of these features, making it a popular choice for professionals seeking to advance their career in project management. This certificate program can be a great way to prepare for an entry-level project management role, and upon completion, you can apply directly with Google and some 130 other employers. If you’re interested in a career in project management, start building a foundation of job-ready skills through the Google Professional Certificate in Project Management.
As with most jobs, the amount of work experience you have will impact how much money you’ll make as a project manager. 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. The size of your organization (and the size of the team you manage) can also play a role in how much you earn each year.
Fortunately, the importance of the project management function isn’t lost on company leaders. Ninety-seven percent of organizations strongly agree that project management is critical to the success of their company—and they’re willing to pay for it. The average additional cash compensation for a Project Manager in US is $10,789. The average total compensation for a Project Manager in US is $106,808. Project Manager salaries are based on responses gathered by Built In from anonymous Project Manager employees in US. See user submitted job responsibilities for Project Management Manager.
Understand the total compensation opportunity for a Project Management Manager, base salary plus other pay elements
While the PMP is certainly a highly-respected credential, it’s not the only one. You can also get certified in project management methodologies, like Agile, Scrum, or PRINCE2, or earn an industry-specific credential, like the CompTIA Project+ for information technology (IT) project managers. In top-paying project management industries such as government, projects are more complex and often require specialized knowledge of particular software, making project management salaries higher than average. 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.
For example, you may choose to specialize and become a program manager or portfolio manager. 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. The organization also maintains international certification standards, credentialing, policies, and procedures.
Average Project Manager Salary by Company Size
If you’re looking to maximize your paycheck, consider these components of the pay equation. We offer a wide variety of programs and courses built on adaptive curriculum and led by leading industry experts. Project managers also make up to 40 percent more if they digital project management course are managing initiatives with budgets exceeding $10 million. Find out the steps you need to take to apply to your desired program. It’s important to remember that methodologies and techniques often depend on the industry, company culture, and type of project.
Analyze the market and your qualifications to negotiate your salary with confidence. This content has been made available for informational purposes only. Learners are advised to conduct additional research to ensure that courses and other credentials pursued meet their personal, professional, and financial goals. When thinking about location, it’s important to take into consideration cost of living as well. The areas that correspond to the highest pay—often major cities—tend to come with higher living expenses. Review the job openings and experience requirements for the Manager, Project job to confirm that it is the job you are seeking.
According to Zippia, the majority of project managers—68 percent—have a bachelor’s degree and 14 percent hold a master’s degree . 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 US Bureau of Labor Statistics (BLS) reports a median US salary as of 2022 of $95,370 for project management professionals, with the bottom 10 percent earning a median of $52,500 and the top 10 percent $159,150
Project Managers make an average salary of $85,000 with bonuses of roughly $13,500, according to Indeed. As companies continue to digitize employee interaction and collaboration—a trend accelerated by the COVID-19 pandemic—there may be more opportunity https://deveducation.com/ for online positions that allow you to work from anywhere. When you get a little farther into your career, however, you really see compensation go up dramatically. Your cash compensation in this field ultimately depends on a variety of factors.