The industry in which you work will also factor into the salary you can expect to receive as a PMP certified professional. The Home Depot, Georgia-Pacific, and WebMD are among the employers seeking candidates to fill 300+ open positions with salaries ranging from $80,000 to $160,000. If you research this topic across multiple sources, you may find varying salary estimates, making it difficult to determine which figures are accurate. When making a significant investment of your time, effort, and money, you deserve clear, reliable information. Fortunately, when it comes to the salary impact of PMP certification, the facts speak for themselves—no exaggeration needed.
Factors that affect IT project manager salary
The BLS also breaks down compensation for project managers by hourly salary, and the median average hourly pay for project managers in 2023 was $47. Lowest hourly earners took home $28 while the highest reported hourly salaries for project managers was $78. Apart from an academic degree, there are a plethora of project management certifications available to pursue. While some carry more weight than others, all of the accreditations listed below will look great on any PM’s resume. Moreover, they all have the potential for increased pay and benefits as part of your certified project manager salary. Generally speaking, the more professional experience you have, the more you can expect to earn.
What is the difference between remote and work-from-home project management roles?
Offered exclusively through CompTIA, the CompTIA Project+ certification is ideal for new and novice PMs. Whether you’re trying to get your foot in the door or Project Manager job you already have a couple years of project management experience under your belt, this accreditation will help you take your career to the next level. Not only do you need to forecast risks with some degree of certainty, but you also need to address unexpected issues as they arise. If you have demonstrated the ability to manage project risks, getting the RMP certification is one of the best ways to validate your skills and increase your project manager income. 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.
Annual Salary by Years of Work Experience
If you’re looking to maximize your paycheck, consider these components of the pay equation. Afterward, if you’re interested in building your project management skills, consider enrolling in the Microsoft Project Management Professional Certificate. 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. In most industries and positions, you can expect your salary to increase commensurate with your experience and tenure. The salary that PMP certification holders enjoy consistently increases as the years add up over which they have maintained the credential. In NYC and surrounding areas, Facebook, Columbia University, and multiple other employers are seeking qualified candidates to fill more than 400 positions with salaries between $85,800 and $115,100.
Advertised Annual Salary
With regard to project management professionals with 15 to 19 years of experience, their pay rises to $ 131,102 which is a 7.06 percent increase from the previous pay level. On the other hand, a professional worker with 20 or more years of experience in project management takes home $138,128 thereby receiving an increment of 5.34% from the previous level. Similar to location, the specific industry can also have 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.
Advertised Compensation for Project Managers
- However, there are some exceptions, especially when it comes to major metropolitan areas.
- While the AMP is certainly a highly-respected credential, it’s not the only one.
- Also included is the annual salary by location for various cities in the US.
- In NYC and surrounding areas, Facebook, Columbia University, and multiple other employers are seeking qualified candidates to fill more than 400 positions with salaries between $85,800 and $115,100.
- According to PMI, those working in teams with fewer than five members reported a median salary of $105,000, while those with 20 or more brought in $130,000 5.
The chart below provides a snapshot of advertised salaries over the past three years. Bureau of Labor Statistics (BLS) for detail into the lowest and highest salary earnings for project managers. While certain projects may relate to different industries or fields, they attract a pay that is more or less the how to hire a software developer same. Such include research and development, manufacturing, and information technology projects with a mean salary of $ 121,625; $ 121, 182; and 121,322 respectively. The minimal variation between salaries in these projects suggests that their level of complexity is almost equal. Besides, most of the skillset required to execute these projects successfully may be regarded to be at the same level.
So a portfolio manager is responsible for managing programs and projects within a portfolio to attain strategic objectives. Portfolio managers look at programs and projects holistically to understand how they align with business goals. They prioritize portfolios based on available resources, whether its equipment, space, people, or money. That helps to achieve a balance by selecting and implementing certain programs and projects. At their level of operation, they monitor and control portfolios to ensure they are aligned with strategic objectives.