2020 was a difficult years for commerce. The pandemic had devastating effects on many businesses, professionals, workers, and corporate owners. The need for project management professionals grew and continues. Project managers discovered that their chosen career path was semi-immune to pandemics. Companies are actively seeking project managers to help them deal with the repercussions.
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Project manager role and responsibilities adjustments
Salary for project management based on location
Salary for project manager based on years of experience
Salary for project manager based on role or position
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Project manager role and responsibilities adjustments
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The pandemic offered an opportunity for project professionals to use their skills, experience, and expertise to help organizations assess, adjust, or create the right response. The roles and responsibilities of project managers have changed. They now focus more on managing remote teams, and creating new ways to communicate with leaders and stakeholders. Every project manager today is a distributed manager. They must keep themselves busy and be constructive. They also need to keep their team productive, deliver for customers, and keep stakeholders informed about the status and progress.
Also read: Project Manager Roles & Responsibilities Software Projects
Salary for project management based on location
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Companies are moving forward with the support of project managers. Project-driven companies involved in product development or change initiatives will pay a premium for project managers who can help them thrive and survive in the new normal. The salary of a project manager depends on the country of employment, years of experience, position, size of projects managed, team size, or project budget. According to the 2020 PMI Salary Survey the top 8 countries in which project managers earn the highest median annual salaries are:
Switzerland = $132,086
United States = $116,000
Australia = $101,381
Germany = $96,987
Netherlands = $93,839
Belgium = $92,352
Ireland = $85,829
United Kingdom = $83,410
According to Indeed, these are the top 8 US cities with the highest salaries for project managers.
Los Angeles, CA = $93,070
New York, NY = $85,066
Chicago, IL = $82,923
Atlanta, GA = $82,541
Dallas, TX = 81,402
Houston, TX = $80834
Austin, TX = $80 299
Phoenix, AZ = $77 324
Salary for project manager based on years of experience
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As you would expect, project managers earn more when they have more experience. Project managers in the USA receive the following median annual salary, which is based on their experience:
$83,000 for less than 3 years
3 to 4 Years = $90,000.
$53,407 – 5 to 9 Years
120,000 for 10-14 years
$126,690 for 15-19 years
$135,000 for 20 years or more
Salary for project manager based on role or position
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With increased responsibility comes increased salary. A project manager who is able to deliver projects that reduce company cost, increase organizational efficiency, and generate higher revenue will earn a higher salary than their peers. The top 8 US companies that pay the highest salaries for project managers are:
ExxonMobil is an American multinational oil-and-gas corporation
Worley – WorleyParsons Limited is an engineering company that offers consulting and project delivery services.
HCL Technologies – Multinational IT services and consulting firm
Boeing – A multinational American corporation that designs, manufactures and sells aircraft and related products
Citi – American multinational financial services and investment bank
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