Everytoàn thân knows that salaries may be variable, even for similar work positions. How much one will be paid depends on several factors. Firstly, if you are an apprentice, you cannot expect the income of a master. Furthermore, living in an industrialized country will most probably give you more in terms of earnings.
Another factor that heavily influences your salary is your employer & the responsibilities they give sầu you. Ultimately, all this is true for anyone, & of course, project managers are no exception. From the top professionals to less experienced ones, in every corner of the world, salaries may be hugely variable.
Does that mean we can’t make a reasonable estimate of a typicalPMPhường salary?Of course not!
We’ve sầu investigated the salary ranges that you can expect as a Project Management Professional considering the main variables. There are also many other advantages to lớn being a certified PMP; let’s check them out!
How Much Do PMPs Make?
Factors That Affect PMPhường Salaries
According to the PMI’s Project Management Salary Survey 10th edition, the average annualized salary of a project manager in the US is between $80,000 and $112,000. Additionally, these salaries vary widely based on the experience and the role covered by the project manager inside a company ahy vọng other things.
Therefore, let’s take a look at some of the factors that will affect the average annualized salary for a project manager worldwide.Number of years of experience in project managementPosition covered and responsibilitiesCountry of employmentCertification status
PMPhường Salary Based on Experience
According to the mentioned PXiaoMi MI salary survey, the average salaries of project managers vary widely based on their experience levels. Ultimately, here’s what you can expect khổng lồ make in the US based on your experience cấp độ as a PM:Less than 3 years of experience project manager: $75,0005-10 years experienced project manager: $100,00010 years+ top experienced project manager: $130,000
PMPhường. Salaries Based on Job Position
Work experience và job position go h& in hvà. As you accumulate more experience, you will naturally get promoted khổng lồ a higher position in the company. Hence, here are several different PM position salaries for companies in the US.Director of Project Management/Project Management Office: $130,000 – $150,000Portfolio Manager: $130,000Program Manager: $1trăng tròn,000Project manager III: $100,000 – $110,000Project Manager II: $90,000 – $100,000Project Manager I: $70,000 – $90,000
Directors of Project Management/ Project Management Office (PMO) are senior professionals who are typically responsible for shaping the project management process for the whole organization. Basically, they vày this by giving common standards, tools, and in some cases, operative sầu governance.
Portfolio Manager Salary
Portfolio Managers are also senior figures who are responsible for portfolquả táo. They may be in charge of the entire portfolio of one organization và are often highly strategic figures. Ultimately, portfolio managers are responsible for coordinating the work of the project managers, program managers, và other portfolio managers.
Program Manager’s Salary
Program Managers are responsible for programs & of coordinating the project managers working at the projects inside them. Furthermore, the program managers are also typically senior figures inside a company.
Project Managers III Salary
Project Managers III are project managers with usually 5-10 years of experience who are given responsibility for the most urgent & critical projects inside the company.
They typically work in tight liên hệ with portfolio managers & are involved in aspects in which the project managers I & II usually are not, lượt thích e.g. the first concept of a project or some final part of the hàng hóa lifecycle.
Project Managers IISalary
Project Managers II are project managers with typically 3-5 years of experience who can giảm giá khuyến mãi with several projects at a time or one big project. They are typically directed by a program or portfolio manager.
Project Managers I Salary
Project Managers I are the entry-cấp độ project managers, who usually work under the direction of a project manager II or III & are typically focusing on smaller projects.
|Project Management Office (PMO)||$130,000 - $150,000|
|Program Manager||$1đôi mươi,000|
|Project manager III||$100,000 - $110,000|
|Project Manager II||$90,000 - $100,000|
|Project Manager I||$70,000 - $90,000|
PMP Responsibilities that Influence Salary
It may be difficult lớn understvà the different roles of a project manager in a company. Hence, in order vì this, you should know the difference between projects, programs, and portfolios. Additionally, you need to know what a PMO is.
A project is a temporary endeavor. Also, this endeavor brings innovation & has objectives, which must be met inside precise constraints of Time, Cost, Scope, và Quality.
A cluster of related projects, which make sense as a whole, is a Program. Essentially, an example of a program may be the revamping of a manufacturing site, which is composed of several projects focusing each on the revamping of a different section of the site.
Therefore, if we put together projects and/or programs, which are unrelated khổng lồ each other but have in comtháng serving the strategic objective sầu of a company, we have a portfolio.
A portfolio may be smaller or larger& also other portfoltiện ích ios calledsub-portfolios.
Finally, a Project Management Officeor PMO is a company-wide reference point for project management. Additionally, they may have sầu different levels of authority, from simple consultation-mentoring about standards và tools, to lớn the project’s overall direction.
After having explained more about projects, programs, portfolio, và PMO, it should be easy to lớn better underst& the different professional figures that may be covered by a project manager. Let’s see them in detail.
How Quickly Does PMPhường Salaries Increase from Raises & Promotions?
Basically, companies can offer different career paths depending on their frameworks, culture và current situation. Furthermore, growing inside the different project management roles is a matter of efforts, results, experience và also situation.
Normally, if a project manager I is doing a good job, he/she can expect khổng lồ become a project manager II in a maximum of five sầu years & a project manager III in a maximum of 10 years. However, accessing even higher roles may simply be a matter of time, effort & opportunity.
No matter which is the role, the project manager can expect the salary to grow fast: according to lớn the PXiaoMI salary survey, 70% of the project managers interviewed have sầu had a salary increase in the last year.
For a quarter of them, the increase was at least 5%.
International PMPhường Salaries Across the World
Whichever role & experience, the salary of a project manager may vary tremendously between different countries worldwide.
According to lớn PMI’s salary survey, the highest average salaries are given in Switzerlvà, US, and Australia. The lowest salaries are given lớn China, India, Nigeria, Egypt. Other countries that participated in the survey, like UAE, Germany Sweden, Canada, stay in the middle salary ranges.
Here is a danh sách of PM salaries in different countries around the world.
|UAE||$70,000 – $80,000|
|Germany||$70,000 – $80,000|
|Sweden||$70,000 – $80,000|
|Canada||$70,000 – $80,000|
|France||$40,000 – $60,000|
|South Korea||$40,000 – $60,000|
|Italy||$40,000 – $60,000|
|Chile||$40,000 – $60,000|
|China||$10,000 – $30,000|
|India||$10,000 – $30,000|
|Nigeria||$10,000 – $30,000|
|Egypt||$10,000 – $30,000|
As a note, it can be observed that in most cases, the salary difference between a fresh project manager and a top experienced one is almost double.
Does having a PMP Certification make a Difference in Compensation?
According khổng lồ the PMI survey, 80% of the PMP. certified earn 20% more than their non-certified counterparts. Furthermore, this survey focused on the differences in pay between both PMPhường certified and non-certified project managers to lớn measure how much of an impact the certification has.
Needless to lớn say, it makes a HUGE difference. Combine this with the fact that holding a PMPhường certification can increase the possibility of being hired by employers worldwide, it’s undoubtedly worth the effort to lớn gain the PMP certification for any project manager.