A Project Manager is a person who is responsible for managing all the tasks in the project and making sure that everything goes as per plan. The project manager runs a project from start to finish and is responsible for keeping the team on track, making sure everyone knows what their responsibilities are, and overseeing all aspects of project management including time management, cost-effective production and results evaluation.
Project manager’s job is to plan, schedule, and coordinate activities of the project team and deliver the project on time and within budget. The pay for a PM in India is at par with global standards, but more experience can give you higher salary.
The Project Manager salary in India is a large variable. Compensation packages for Project Managers vary greatly depending on experience, education and opportunities offered by the employer as well as by location. According to Glassdoor, a senior project manager at Amazon earns an average annual salary of $150,000 while the average salary in India is around $19,000.
Salary For Project Manager In India Overview
Project managers are in high demand, but their salaries are not always commensurate with the responsibility that comes with their role.
According to PayScale, project managers in India earn an average salary of ₹ 1.12 lakh (1,100) per month. The median hourly pay for this position is ₹ 10,000 (100).
The highest-paying cities for project managers in India are Bangalore and Delhi, where they can expect to earn ₹ 1.34 lakh (1,300) and ₹ 1.27 lakh (1,270), respectively. In terms of industries that pay more than others, the top three sectors for project manager salaries in India are Information Technology & Services (IT), Manufacturing, and Consulting & Strategy.
In addition to being paid well by industry standards, project managers with experience and education tend to make even more money than their peers with less experience or education. For example: A senior project manager with a bachelor’s degree makes an average salary of ₹ 2 lakh (20000) per month compared to someone who only has a high school diploma at ₹ 0 lakh (0).
Who is a project manager
A project manager, as the name suggests, manages and oversees projects. They are responsible for the project development from planning to final execution through its six aspects- scope, schedule, finance, risk analysis, quality assurance, and resource procurement.
They lead teams, monitor, and control the project developments, and are responsible for the entire project cycle. Project managers are also the point of contact between the senior management and the team and share progress reports with the concerned stakeholders.
Here are some of the responsibilities a project manager has:
- Analyze and mitigate the risk involved to enable seamless completion of the project
- Outline the objective, scope, resource procurement, and allocation for the project
- Establish the phases of the project and set the deadline for its completion
- Coordinate with the clients, teams, and senior management to ensure project satisfaction
- Sharing reports on any development in the project with the concerned stakeholders.
To become a project manager, you would need a Bachelor’s degree in computer science or business and some years of experience in the relevant field. You can also consider pursuing Project Management Professional (PMP) online certification courses.
What is Project Management? Who is a Project Manager?
Project management is the process of overseeing a project from start to finish. It might be as easy as automating a department’s operating procedure, or it could include working on a new project with clients, vendors, and other stakeholders. Ideation, creativity, execution, and closure are the major processes of project management. Planning, team management, procurement, integration, control, and risk assessment are some of the skills which are an integral part of the project management process.
A project has a timeline that is determined by the product that has to be delivered. Unlike a product that evolves with the customer’s needs, a project has a precise description of what needs to be delivered.
The project manager is in charge of leading the project and ensuring that each phase achieves its goals. They are engaged in establishing the project’s major objectives, purpose, and scope, developing an integrated development plan, managing the team during the execution stage, and monitoring each element until it is completed and reviewed.
Finally, the project manager is the individual who is held accountable for the project’s success or failure. Project managers supervise and manage product development to guarantee that the product is delivered on time and within budget. The most difficult problem a project manager confronts is balancing cost, time, and quality while maintaining the project’s scope. Their responsibilities include:
- Identification and reduction of possible hazards in a timely manner
- Creating timelines, budgets, and hiring personnel
- Project scope, tasks, infrastructure, materials, and reports are all managed
- Learn more about product managers’ duties and responsibilities
Project management includes implementing techniques, procedures, expertise, and experience to fulfill a project’s goals.
Median Salary of a Project Manager in India
The average project manager pay in India, according to Glassdoor, is about Rs.14,00,000. In India, for example, the average compensation for a software engineer is about Rs 5,00,000. So, as a project manager, you might earn nearly three times as much as your software engineer peers!
There is a growing demand for Project Managers in India. MNCs bringing their projects to India are certain that India has the talent to lead them. As a result, numerous companies are establishing warehouses, industrial facilities, and call centers. According to the Economic Times, the project management profession is expected to exceed overall worldwide job growth in the next few years, resulting in many new job openings with very competitive compensation. According to the Project Management Institute (PMI) research, India would require over 7,000,000 additional project managers over the next ten years to handle the expanding industry.
Project managers are needed in building and manufacturing, information technology, banking, and insurance. This type of management is constantly in high demand. The list goes on and on. That is the major reason for the high project manager compensation in India. The never-ending demand
According to estimates, India will overtake China as the world’s second-largest generator of project management-related employment by 2027. By 2027, there are anticipated to be 22 million additional project management employment vacancies worldwide.
