How much does a project manager make?

A project manager’s job is to manage different aspects of a project or business and ensure its completion on time. A project manager doesn’t necessarily get involved in hands-on tasks. However, they must have good knowledge of the tasks involved in the projects.

The yearly average project manager salary in the USA:

In this blog, we will tell you the salary of project managers from construction project managers to technical project managers or associate project managers to help you give an overview of the industry.

This project manager salary blog will explore the following topics:

What Are the Factors Affecting Project Managers’ Salaries?

The salary of a project manager depends on various factors, such as:

  • Education
  • PMP certification
  • Experience
  • Job Specialization
  • Team Size
  • Industry
  • Job Location
  • Project Management Methodologies

Education

Project management is a vast field. It needs a minimum of 4 years’ bachelor’s degree in management or business to become an entry-level project manager. And according to Glassdoor, an entry-level project manager needs 3 years of experience to earn the average base salary.

And to get a higher salary, you must have a master’s degree in project management. The base salary of a project manager with a master’s degree is $120,000, which is much higher than a project manager with a bachelor’s degree.

Education Mean Salary
High school degree 151,388
Associate’s degree 150,000
4-year college degree 140,000
Master’s degree 142,416
Doctoral degree 149,000

PMP Certification

Becoming a certified project management professional helps you increase your compensation and acts as a proof of skill for potential employers.

A study conducted by Project Management Institute found that a candidate with a PMP certification earns 22% more than a candidate without a certificate.

A PMP certification is a standard in the project management industry to get ahead in their career.

In the USA, the median salary of a project manager with PMP certification is around USD 120k, which is 22% more than a candidate without a certificate.

However, PMP is not the only certification you can get. There are multiple other certifications.
Such as,

  • Certification in Different Project Management Methodologies such as Agile, Scrum, Waterfall, etc.
  • Certification in different industries such as CompTIA Project+ is for the information technology industry.
Certification Maiden Salary in $
With PMP certification 145,000
PMP for 1 < 5 years 131,287
PMP for 5 < 10 years 140,000
PMP for 10 < 20 years 168,000
Do not have a PMP certification 140,000

Years Of Experience

Your years of experience heavily affect your salary in the industry. As you get more experience in your job, your salary also increases.

We already pointed out that an experienced project manager with 10+ years of experience gets around USD 111,583 per month, which is close to double the salary of an entry-level project manager.

Work Experience Maiden Salary per year in $
5 < 10 years 109,656
10 < 15 years 121,000
15 < 20 years 140,000
20 years or more 160,000

Specialization

There are several classifications of a project manager. And based on that your salary will also change.

The top classifications of project management job are:

  • Project Manager
  • Product Manager
  • Portfolio Manager

Here are the job requirements and salary breakdown for each of the job profiles:

  • Project Manager: Plan project milestones and coordinate with the team to delegate responsibilities and manage the project budget. The typical salary of a project manager is around USD 91,245 - USD 110,283

  • Portfolio Manager: Portfolio managers analyze projects to identify improvement opportunities to improve efficiency and project performance. The average salary of a portfolio manager is USD 140,780.

  • Program Manager: Program managers are responsible for managing multiple similar projects called programs to improve business outcomes. The average program manager salary is $127,517.

Project Team Size

Team size also affects the income of a project manager. If the project manager has to manage a large team, they will get more salary,

According to a survey conducted by Project Management Institute, here’s the average project manager salary based on their team size:

Team Size Median Salary per year in USD
1-4 people 125,000
5-9 people 146,500
10-14 people 150,000
15-19 people 150,000
20 or more people 176,182

Industry You Work In

The industry you work in also has a significant impact on the salary. Project managers in the tech and STEM industries are significantly paid higher than in any other industry because these industries are already in demand. In fact, studies show that 93% of STEM jobs provide more salary than any other industry.

Here are salaries for industries with top project management salaries:

Industry Median Salary per Year
Construction Project Manager Salary $125,000
Consulting $165,000
Engineering Project Manager Salary $150,000
Financial services $153,000
Food and beverage $139,250
Government $140,996
Healthcare Project Manager Salary $131,000
IT Project Manager Salary $140,000
Insurance $150,000
Manufacturing $132,000
Real estate $129,450
Agriculture,Mining, etc. $160,000
Telecommunications $143,500
Utility $160,000
Marketing Project Manager Salary $64510
Creative Project Manager Salary $78,796

Job Location

Like many industries, project management salary also gets heavily impacted based on your location. When you choose a location based on salary, you should consider the cost of living as well. Since the location with higher pay tends to have higher living expenses.

Here are the salaries for project managers in the top cities in the USA:

Location Salary per Year
Project manager salary NYC $95,250
Project manager salary Los Angeles $88,669
Project manager salary Florida $69,665
Project manager salary California $83,240
Project manager salary Dallas $90,077
Project manager salary Chicago $88,134
Project manager salary Houston $99,108
Project manager salary New Jersey $78,892
Project manager salary San Francisco $1,03,872
Project manager salary Atlanta $87,714
Project manager salary San Diego $90,686
Project manager salary Texas $72,810
Project manager salary Georgia $87,714
Project manager salary Boston $93,128
Project manager salary Seattle $93,427
Project manager salary Massachusetts $93,128
Project manager salary Michigan $75981
Project manager salary Maryland $80,089
Project manager salary Pennsylvania $70710
Project manager salary Arizona $71893
Project manager salary Illinois $72,655
Project manager salary Ohio $67754
Project manager salary Washington $80,042
Project manager salary Colorado $74,230
Project manager salary Minnesota $72,790
Project manager salary Miami $71,696
Project manager salary Philadelphia $88,459
Project manager salary DC $97,854
Project manager salary Wisconsin $72,067
Project manager salary Denver $87,023
Project manager salary North Carolina $70,994
Project manager salary Utah $66,817
Project manager salary Austin $85,000
Project manager salary Charlotte NC $85,202
Project manager salary Portland $83,078
Project manager salary Orlando $73,525
Project manager salary San Jose $1,23,026
Project manager salary Indiana $68331
Project manager salary Orange County $76,224

What Are the Project Management Salary in Unicorn Companies?

Here are some companies with maximum project management salaries:

Job Title Project Manager Salary
Infosys $1,05,959/yr
Wipro $86,745/yr
Epic $82,117/yr
Cognizant Technology Solutions $1,02,155/yr
Atos-Syntel $1,01,740/yr
IBM Project Manager Salary $1,13,072/yr
Cisco Systems $1,34,519/yr
LTI $1,02,417/yr
HCL Technologies $1,19,868/yr
CGI $1,23,178/yr
Discover $1,02,897/yr
J.P. Morgan $97,574/yr
Tech Mahindra $89,121/yr
Verizon $1,06,241/yr
Hewlett-Packard $1,01,306/yr
AT&T $95,016/yr
AECOM $1,09,503/yr
Nexaweb $80,012/yr
CBRE $99,526/yr
Siemens $1,03,352/yr

What Does a Project Manager Do?

Here’s what a typical project management job description looks like:

Project Manager Responsibilities:

  • Manage cross-discipline teams and ensure the project is on track
  • Resolve project-related issues and ensure adherence to quality standards
  • Prepare project reports and present them to stakeholders
  • Coordinate with technical writers to prepare user manuals and technical documentation
  • Identify and develop new processes to improve efficiency
  • Provide customer assistance with projects
  • Perform project evaluation and identify improvement opportunities

Project Manager Requirements:

  • Bachelor’s or a master’s degree
  • PMP Certification
  • 1-2 years of experience in project management
  • Knowledge of ERP implementation
  • Manage project budgets

Key Takeaways:

Here are some key takeaways from the blog:

  • The maiden salary of a project manager is around USD 89,230 per year.
  • The salary of a project manager depends on many factors, such as industry, location, team size, company valuation, experience, etc.
  • Cities like San Francisco will give the highest salary to a project manager

If you want to become an IT project manager or technical project manager, first, you have to create a stellar project manager resume from the Hiration Online Resume Builder tool.

And, If you want to prepare for an interview, you need to read the project manager interview questions.

We hope you got all the information about the project manager’s salary. If you have more questions, you can reach out to us at team@hiration.com, and we will help you with your queries.