How Much Does a Project Manager Make Per Year?
Project managers are necessary components in every industry. Whether it be the IT industry or construction, the need for project managers will always be on the rise. With the popularity of this particular career, those interested in a career in the business industry are beginning to acquire the knowledge needed to hold such a prestigious position. As a project manager you will deal with an ample amount of important daily tasks. With that being said, the more responsibility that you have will equate to a higher annual salary. Prior to selecting your future career, becoming aware of the average annual salary of a project manager is imperative.
Average Annual Salary
Unlike the majority of other job positions in the world, project managers are known to have one of the highest average annual salaries. The average annual salary of a project manager is over $ 105,000.00. Based on your educational background and your work experience, this rate may vary. Also, depending on what company you work for, they may pay their project managers more than other companies.
Certification Based Salary
Much like workplace experience and educational knowledge, certifications are one of the most important factors used to determine how much money an employee can make. The most popular designation for project managers to earn is the Project Management Professional certification. If you have had the certification for less than ten years, the average annual salary is $ 113,000.00. Whereas if you have had the certification between 10 and 20 years, the median salary is $ 120,000.00.
Industry Based Salary
Depending on what industry you work in, your annual salary will differ. Companies that have more disposable income will pay their employees more money than those without an ample amount of profits. Also, it is important to consider that large corporations will generally pay their project managers far more than small companies. The three top earning industries for project managers are:
1. Consulting: $ 120,000.00
2. Natural Resources: $ 116,000.00
3. Pharmaceuticals: $ 113,909.00
Job Title Based Salary
There are many different types of project managers throughout every industry. Depending on your job title, your salary will vary. The top five project management related job titles are:
PMO Director: $ 151,000.00
Program Manager: $ 135,000.00
Project Management Specialist: $ 105,000.00
Project managers help to ensure that the goals of the company are met based on specified deadlines. These professionals will oversee a team of employees and they will delegate tasks to each person in the group. With the use of project managers, companies are able to effectively complete tasks and ensure that they can gather the utmost amount of profits on a yearly basis. With the hefty salary and interesting work environment, more students are beginning to start their careers as project managers.