Project managers earn a high salary in comparison to other professions because of their expertise and leadership skills. They are responsible for managing large projects, so they need to demonstrate knowledge and experience in this field.
There are numerous project management tools out there, and each company is different. They all have their own requirements and expectations. Before you get wrapped up in the latest software trends, check out the infographic below that shows what average salaries are for project managers in a few key industries.
The average salary for a project manager varies widely depending on the industry and location. According to PayScale, the average salary for a project manager in the United States is $93,000 per year.
The median salary for a project manager in New York City is $99,000 per year. In California, it’s $88,000 per year. In this article, we will discuss project manager job description, project manager salary by state.
Average salaries for project managers
How much do project managers make? As with most positions, the answer to that question depends on a number of variables. According to Glassdoor, project manager salaries in the United States range from $59,000 to $116,000 per year. That’s a pretty big gap! But by understanding how your role is determined and factoring in where you live, what kind of work you do, and how much experience you have, it’s possible to get a sense for what your pay may be. In this article, we’ll provide an overview of average salaries for project managers at different stages of their career.
How is the salary for a project manager determined?
The salary for a project manager depends on many factors, such as the country and industry, size of company and experience. Let’s look at some of these key determinants in more detail.
- Country
In the United States, salaries are generally higher than Australia or Canada, with US$23k being a ballpark figure for entry-level PMs. However, if you’re based in Northern Europe then expect to earn up to €40k per year with just three years’ experience under your belt!
Entry-level salaries for project managers
Project managers at the entry level start out earning an average salary of $50,000 a year. As they gain experience and education, this figure will increase. Project managers with certifications and education can earn anywhere from $60,000 to $75,000 per year.
Mid-career salaries for project managers
Project managers in mid-career earn a median salary of $90,000 per year. As with many other jobs, salary varies based on location and industry. For example, project managers working in the computer software industry earn an annual median salary of $84,000 compared to $75,000 for those employed in the construction industry. Project managers at small companies tend to make more than their counterparts at large companies; however, this is not always true if you consider company type: project managers at companies that employ 50 or fewer employees have an annual median salary of $60k and those working for businesses with 500+ employees earn about 10% more ($70k).
In general though, salaries for projects managers are higher than average when compared against other professions with similar requirements such as personal financial advisors and tax preparers.
Senior-level salaries for project managers
Senior project managers can make more than the average salary for project managers. Senior-level project managers are usually responsible for managing teams and projects of large scale, complexity and importance. These positions can pay highly competitive salaries, with senior project managers earning more than $100,000 a year.
Many organizations may hire an executive level to oversee multiple teams or departments as well as manage the company’s strategic plan. This person is often referred to as a Chief Project Officer (CPO), Chief Technology Officer (CTO) or Chief Information Officer (CIO). Their responsibilities typically include setting company strategy, creating budgets and managing resources across various departments in order to meet organizational goals
People who work as project managers can make a good living.
As a project manager, you can earn a great living. In fact, the average salary for a project manager is $103,000. The median salary is $95,000 per year. This is higher than the average annual salary in the United States overall ($44,750).
If your company has more than 100 employees and needs to hire someone to oversee projects, it’s likely that they will look to hire an experienced project manager—someone who may have 10 or 20 years of experience under his or her belt. These individuals are highly sought after because of their expertise in handling all kinds of projects from start to finish. If you have this level of experience but have been out of work for some time and need help getting back into the field (or moving up), consider taking advantage of one-on-one training sessions offered online by companies like eLearnExcel Project Management Training (ELP).
Ultimately, getting a job as a project manager requires the right education and skills. But once you get started in this career path, you can expect to make a good salary. And if you’re smart about saving and investing your money, it shouldn’t take long before you start enjoying the luxuries that come with being financially secure.
project manager job description
A project manager is responsible for planning and overseeing projects within an organisation, from the initial ideation through to completion. They coordinate people and processes to deliver projects on time, within budget and with the desired outcomes aligned to objectives.
Project managers also act as a point of liaison between the project team and senior management. They use project management tools such as Microsoft Project to plan, monitor and regularly report to stakeholders on the progress of the project.
A key part of a project manager’s role is to identify and mitigate risks which may impact successful delivery of projects.
Project manager responsibilities
- Defining project objectives, project scope, roles & responsibilities.
- Defining resource requirements and managing resource availability & allocation – both internal and third party.
- Outlining a budget based on requirements and tracking costs to deliver project on budget.
- Preparing a detailed project plan to schedule key project milestones, workstreams & activities.
- Managing delivery of the project according to this plan.
- Tracking project and providing regular reports on project status to project team and key stakeholders.
- Managing and adjusting for any changes in project scope, schedule and / or budget.
- Identifying and mitigating potential risks.
- Managing the relationship and communication with the client and all stakeholders, ensuring the project is delivered to their satisfaction.
project manager salary by state
| State | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
|---|---|---|---|---|
| Wyoming | $111,180 | $9,265 | $2,138 | $53.45 |
| Arizona | $110,476 | $9,206 | $2,124 | $53.11 |
| Montana | $109,427 | $9,118 | $2,104 | $52.61 |
| Tennessee | $107,621 | $8,968 | $2,069 | $51.74 |
| Indiana | $107,316 | $8,943 | $2,063 | $51.59 |
| Massachusetts | $107,196 | $8,933 | $2,061 | $51.54 |
| Hawaii | $107,157 | $8,929 | $2,060 | $51.52 |
| New Jersey | $106,476 | $8,873 | $2,047 | $51.19 |
| Nevada | $106,263 | $8,855 | $2,043 | $51.09 |
| Connecticut | $104,175 | $8,681 | $2,003 | $50.08 |
| Minnesota | $104,128 | $8,677 | $2,002 | $50.06 |
| Washington | $104,000 | $8,666 | $2,000 | $50.00 |
| New York | $103,775 | $8,647 | $1,995 | $49.89 |
| Rhode Island | $102,351 | $8,529 | $1,968 | $49.21 |
| Alaska | $101,609 | $8,467 | $1,954 | $48.85 |
| Oregon | $101,604 | $8,467 | $1,953 | $48.85 |
| North Dakota | $99,714 | $8,309 | $1,917 | $47.94 |
| Wisconsin | $99,541 | $8,295 | $1,914 | $47.86 |
| Ohio | $98,357 | $8,196 | $1,891 | $47.29 |
| Maryland | $98,034 | $8,169 | $1,885 | $47.13 |
| Alabama | $97,361 | $8,113 | $1,872 | $46.81 |
| New Hampshire | $97,319 | $8,109 | $1,871 | $46.79 |
| Virginia | $95,689 | $7,974 | $1,840 | $46.00 |
| Iowa | $95,659 | $7,971 | $1,839 | $45.99 |
| California | $95,465 | $7,955 | $1,835 | $45.90 |
| South Dakota | $94,867 | $7,905 | $1,824 | $45.61 |
| Vermont | $94,765 | $7,897 | $1,822 | $45.56 |
| New Mexico | $94,763 | $7,896 | $1,822 | $45.56 |
| Florida | $94,731 | $7,894 | $1,821 | $45.54 |
| Idaho | $94,642 | $7,886 | $1,820 | $45.50 |
| Utah | $94,394 | $7,866 | $1,815 | $45.38 |
| Nebraska | $93,460 | $7,788 | $1,797 | $44.93 |
| Colorado | $92,927 | $7,743 | $1,787 | $44.68 |
| Delaware | $92,844 | $7,737 | $1,785 | $44.64 |
| South Carolina | $91,205 | $7,600 | $1,753 | $43.85 |
| Kansas | $90,131 | $7,510 | $1,733 | $43.33 |
| Maine | $90,092 | $7,507 | $1,732 | $43.31 |
| Arkansas | $89,467 | $7,455 | $1,720 | $43.01 |
| Mississippi | $88,969 | $7,414 | $1,710 | $42.77 |
| Oklahoma | $88,303 | $7,358 | $1,698 | $42.45 |
| Georgia | $87,611 | $7,300 | $1,684 | $42.12 |
| Kentucky | $87,340 | $7,278 | $1,679 | $41.99 |
| Michigan | $86,950 | $7,245 | $1,672 | $41.80 |
| Pennsylvania | $85,340 | $7,111 | $1,641 | $41.03 |
| Missouri | $85,138 | $7,094 | $1,637 | $40.93 |
| Illinois | $84,733 | $7,061 | $1,629 | $40.74 |
| West Virginia | $83,763 | $6,980 | $1,610 | $40.27 |
| Texas | $83,389 | $6,949 | $1,603 | $40.09 |
| Louisiana | $83,339 | $6,944 | $1,602 | $40.07 |
| North Carolina | $76,443 | $6,370 | $1,470 | $36.75 |
Top 50 Highest Paying States for IT Project Manager Jobs in the U.S.
We’ve identified nine states where the typical salary for an IT Project Manager job is above the national average. Topping the list is Wyoming, with Arizona and Montana close behind in second and third. Montana beats the national average by 3.8%, and Wyoming furthers that trend with another $5,776 (5.5%) above the $105,404.
With these nine states paying on average above the national average, the opportunities for economic advancement by changing locations as an IT Project Manager appears to be exceedingly fruitful.
