Project Manager Salaries State-by-State Median Earnings

How much do project managers make

Although some might want to remain anonymous, project manager employees consistently report high salaries to Payscale and other salary tracking sites. 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. Similar to location, the specific industry can also have Project Manager job a significant impact on project manager income. While a software project manager salary is approximately $95,904 or $46.11 per hour, PMs working in government only maintain an average salary of $69,237 or $33.29 per hour.

Business Process Management (BPM) vs Project Management Process (PM)

How much do project managers make

Because of the nature of the position, project managers are also expected to be approachable, empathetic, and understanding of any potential issues. Based on this data, it is clear that geographic location plays a huge role in determining how much project managers make. Generally speaking, PMs on the west coast of the US make more than their counterparts on the east coast or within the midwest. However, there are some exceptions, especially when it comes to major metropolitan areas.

How much do project managers make

How Much Do Project Managers Make? Complete Salary Guide

Alternatively, specializing in a particular project management methodology that is in particularly high demand can also help to increase your salary. PMs are highly detail-oriented individuals with stringent standards of quality. As a project manager, you need to keep track of the most important details and monitor every aspect of the work—from project timelines to completion of individual tasks. Losing track of key deadlines, for example, could result in extreme project delays that may be considered unacceptable in the eyes of key project stakeholders. As a project manager, not only will you need to communicate with your team members to monitor productivity and address any issues that may arise, but you also need to maintain contact with key stakeholders.

Master’s Degree in Project Management

In addition to education, project managers often start their careers in roles like project coordinator, junior project manager, or assistant project manager. Beyond the money itself, this career path tends to feature a good deal of opportunity, versatility, and advancement. In this article, we’ll discuss how much project managers typically earn and the factors that can affect salary. You probably came to this article looking for the Software development average project manager salary or the most common project manager salary. Although we plan to cover these average base salary stats, we’ll first look at alternate job titles and specialties that can increase average total compensation. According to ZipRecruiter, a freelance project manager has an average salary of $94,625.

  • In fact, many roles in project management require at least a bachelor’s degree in a related field.
  • Senior-level professionals with 5-8 years of experience earn around $142,705, and those with over 8 years of experience can expect an average of $149,042.
  • In this program, you’ll gain knowledge of project management terminology, methodologies, and best practices and learn to apply them effectively in real-world scenarios.
  • The highest-paying cities for project managers are San Francisco, CA, Boston, MA, and Jersey City, NJ.

What is a good starting salary for a Project Manager?

In fact, PMI projects that employers will need nearly 88 million individuals in project management-oriented roles by 2027. When thinking about location, it’s important to consider the cost of living. The areas that correspond to the highest pay—often major cities—tend to have higher living expenses. Meanwhile, according to the same report, a late-career role will earn as much as $35.26 per hour.

How much do project managers make

Knowing the great demand for project managers, take a deeper dive into how these six factors can add more money to a project manager’s paycheck. As of 2024, the average project manager salary in the United States is just under $90,000 per year. With some making under $58,000 per year and others making nearly $139,000 annually, there’s quite a bit of range to consider. According to Zippia, the majority of project managers—68 percent—have a bachelor’s degree and 14 percent hold a master’s degree 3. Architectural project management is the one area where the job market is below average. Clearly, it won’t be as easy to break into this field compared to the others, but this doesn’t mean you shouldn’t consider projects, companies, and employers, looking for architectural team members.

Project Manager Salary FAQs

Additionally, the best paying cities for this career are Washington DC, New York City, and Houston, Texas. On top of this average salary, additional cash compensation is often a bonus for project manager professionals that do exceptionally well. If you think it’s time to switch careers, a project management certification will come in handy. As a freelance project manager, you can work on more challenging and complex projects, which is also one of the top reasons why they earn more than the average yearly salary. Freelancing increases your knowledge and skills as you continue your career.

A project manager who has received prior project management training or certification might be considered for certain roles, even if they don’t have any previous experience. The overall project size or, more specifically, the total number of project team members, also affects project manager income. Since larger teams mean more people that need to be managed, it’s only natural that larger projects come with higher pay. In some cases, this could amount to an additional $25,000 per year when compared to PMs that oversee smaller teams and projects. For those who tend to jump around from industry to industry or one company to another, the freelance project manager salary is comparable to the numbers listed above.

Highest paying industries for project managers

How much do project managers make

As such, you will often have to go back-and-forth between communicating with subordinates and communicating with executive-level figureheads. As such, these roles are generally reserved for established PMs who already have years of hands-on experience in the role. Key factors like location, experience, industry demand, and economic growth significantly influence salary variations, making them important to consider.

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