If you’re interested in becoming a project manager, you’re probably wondering what your salary could be. Overall, a project manager salary is around $88,907 annually for a typical work week of around 46.9 hours a week.
However, many factors can affect the “typical” project management salary. For example, living in a larger city, having more education or experience, and working in a high-paying industry can net you a larger paycheck.
Many factors come into your career and financial growth as a project manager. Understanding the components that influence your pay can be helpful as you plan your trajectory in this field.
So if you’re interested in becoming a project manager, keep these factors in mind. With the right combination of knowledge and experience, you could be well on your way to a successful career.
Project Manager Salaries by Location
As of 2021, the top median salaries of project managers based on location are in Switzerland, the United States, Australia, Germany, and the Netherlands. As of 2022, Glassdoor estimates the following total pay and average yearly salaries based on the data it has collected from its users:
|Country||Estimated Total Pay (USD)||Average Salary (Yearly)|
Financial services and pharmaceutical sectors offer the highest salaries in Switzerland, according to the Salary Survey Snapshot of Project Management Institute (PMI) in 2021. There’s an increasing demand for project managers to manage teams in hybrid or remote setups in the U.S. But for all locations, flexibility, transferable skills, and digital literacy are highly valued because of evolving work dynamics.
Project Manager Salaries by Years of Experience
As with many industries, salary grows as you increase your experience and skills in the field. For project managers with less than three years’ experience, the highest-paying countries are Australia and the United States, where average salaries are $76,852 and $78,279, respectively.
Once project managers accumulate three to five years’ experience, Switzerland becomes the highest-paying country, giving project managers $119,293 on average. Australia and the United States stay as some of the highest-paying countries, along with Germany and Netherlands — all of which pay project managers over $80,000.
When project managers accumulate five to 10 years’ experience, project managers in the U.S. may start earning about $100,000 annually. Switzerland remains the highest payer at a $130,138 average salary.
Meanwhile, Australia and Germany push on to pay their project managers over $90,000 on average.
At 10–15 years, Switzerland, Australia, Germany, and the United States remain the highest payers, with project managers earning over $100,000. But once project managers accumulate over 15 years’ experience, professionals from Hong Kong, Ireland, the Netherlands, Qatar, United Arab Emirates (UAE), and the U.K. can start earning over $100,000 as well.
The highest average salary for project managers with over 20 years’ experience is $162,672 a year in Switzerland.
Project Manager Salaries by Industry
The industry that pays project managers the most is the information technology industry, based on the research by Team Gantt in 2022. On average, project manager salaries in IT are $100,939. Project managers in computer software and hardware, architecture and civil engineering, and biotech and pharmaceuticals can earn over $90,000 annually. A construction project manager salary can also earn around $88,099 a year.
Source: Team Gantt
How Much Does a PMI Certification Affect a Project Manager’s Salary?
Having a Project Management Institute certification can dramatically affect a project manager’s salary, depending on which country they work in.
In Portugal, Peru, and Colombia, PMI-certified project managers can expect a salary increase of over 40%, making it a desirable option for those looking to boost their earnings. However, in Belgium and Russia, the PMI certification doesn’t affect salary, and in the United Arab Emirates and Qatar, it can even have a negative effect.
This is essential information if you’re looking to work in these countries, as the PMI certification could potentially hurt or help your earnings.
Critical Skills That Affect Growth as a Project Manager
Remote and hybrid team management
These days, being an effective project manager requires more than just a knack for organization. With many teams now working remotely or in hybrid settings, a project manager must be skilled in managing hybrid and remote teams if they want to be successful.
Leading teams across different locations mean communicating effectively through phone, video, and email; setting clear goals; and managing different time zones. It also means taking advantage of the many digital tools available, such as online project management tools and collaboration software.
While it may sound intimidating, developing these skills can pay off in the form of a higher project manager salary. Employers are looking for project managers who can effectively operate in hybrid and remote settings, so if you can demonstrate these skills, you will be able to stand out from the competition.
Relationship-building and people management
As a project manager, building productive relationships with employees is essential to increase productivity and retention. Making sure employees are paid competitively, based on their experience and performance, will ensure they are motivated to stay and perform at their peak.
Creating an environment where employees feel valued, appreciated, and respected is also essential. This can be done by providing feedback on their performance, encouraging open communication, and fostering collaboration.
By building and cultivating these relationships, project managers can help to maximize productivity and employee retention. In the end, this will lead to a better outcome for the project and a higher project manager salary.
Project managers who can innovate and level-up businesses are precious. Companies understand the success of a project is mainly dependent on the project manager’s ability to identify new opportunities, manage resources effectively, and make the most of the resources available. This is why project manager salaries are among the highest in the industry.
Not only would you need to have excellent managerial and organizational skills, but you must also possess the creative thinking and problem-solving abilities to come up with innovative solutions to complex business challenges.
A successful project manager can help to reduce costs, increase efficiency, and improve customer satisfaction — all of which can help to boost the bottom line of a business.
Having the right digital skills is essential for anyone in a project management role. Having these skills will make you more efficient and effective in managing projects.
From communication and collaboration to planning and budgeting, digital skills can help project managers do their job better. It can also help you stay updated with the latest tools and techniques in the industry. This can make you more valuable, leading to a higher salary.
By leveraging the right digital skills, you can help your team succeed and ensure your projects meet deadlines and stay within budget.
Featured Partners: Project Management Software
Successful project managers know the importance of matching their teams’ needs to the right project management software solution. If you’re interested in learning more about some top project management software, the editors at Project-Management.com actively recommend the following:
monday.com Work OS is an award-winning no-code work management platform that helps teams manage projects and workflows more efficiently.
Used by 152,000+ customers worldwide, this fully customizable software lets you plan, manage, and track every project in one place. monday.com offers time-saving and easy-to-use features such as automations, time tracking, document sharing, and real-time collaboration. Multiple board views such as Gantt and Kanban help you structure and navigate tasks and projects the way you prefer, and dashboards give a high-level overview of your progress.
In addition, integrations with apps such as Outlook, Microsoft Teams, Gmail, and Excel, allow you to easily continue working with your favorite tools from within the platform. monday.com also offers dedicated solutions, such as monday dev and monday sales CRM, designed to answer the needs of specific industries.
Wrike is the most powerful work management platform on the market, enabling teams to plan projects and collaborate in real time. Our award-winning software is trusted by 20,000+ companies across the globe, including Sony, Estée Lauder, and Siemens.
Wrike’s customizable features include Gantt charts, request forms, dashboards, cross-tagging, time tracking, and proofing. Integrate with 400+ apps from the likes of Microsoft, Google, and Salesforce. Automate repetitive tasks and achieve 50% faster planning. Work from anywhere with 100% access to your files via our mobile and desktop apps.
Whether you’re a small startup or an established brand, Wrike has the solution for you. Paid plans start at $9.80/user/month. Join our community of 2.3 million — start your free two-week trial today.
Smartsheet is a leading work execution platform that has real-time work management features, collaboration and automation tools. Users are presented with a familiar and easy-to-use spreadsheet-like interface. However, it has enterprise-grade capabilities that even Fortune 500 companies like Cisco, Bayer, HP, and PayPal are confident to adopt in their business. Strong project management features enable teams to utilize different views of real-time data, and switch easily from Gantt, card, grid and calendar views. Smartsheet has automatic update requests, and can be used for waterfall and agile projects, product launch, sprint planning, and more. The resource management feature provides users the visibility who is busy, and who is not, in real-time. They can also attach files, share sheets, get notified, view the activity log, export, email, and print.