Project Manager Salary Guide 2023 | projektmanagement.com (2023)

If you are interested in becoming a project manager, you are probably wondering what your salary would be. In general, the salary of a project manager is in the order of magnitude88.907 $annually for a typical work week of about 46.9 hours per week.

However, many factors can influence the "typical" salary for project management. For example, if you live in a larger city, have more education or experience, and work in a high-paying industry, you may be paid more.

Many factors affect your career and financial growth as a project manager. Understanding the components that affect his compensation can help you plan his career in this field.

So if you are interested in becoming a project manager, keep these factors in mind. With the right mix of knowledge and experience, you can be well on your way to a successful career.

Project Manager Salaries by Location

AB2021, the highest average project manager salaries by location are found in Switzerland, the United States, Australia, Germany, and the Netherlands. As of 2022, Glassdoor estimates the following total compensation and average annual salaries based on data collected from its users:

The financial services and pharmaceutical industries offer the highest salaries in SwitzerlandSalary Survey Snapshotfrom the Project Management Institute (PMI) in 2021. There is a growing demand for project managers to lead teams in hybrid or remote US environments. But for all locations, flexibility, transferable skills and digital literacy are highly valued due to the evolution of labor dynamics.

Project Manager salaries by years of experience

As in many industries, salary increases as you expand your experience and skills in the field. The highest-paying countries for project managers with less than three years of experience are Australia and the United States, where median salaries are $76,852 and $78,279, respectively.

After project managers gain three to five years of experience, Switzerland becomes the highest paid country, with a median income of $119,293 for project managers. Australia and the United States are among the highest paying countries, along with Germany and the Netherlands, all paying project managers over $80,000.

If project managers gain five to 10 years of experience, project managers in the US can earn around $100,000 a year. Switzerland remains the highest paying country, with a median salary of $130,138.

Meanwhile, Australia and Germany pay their project managers more than $90,000 on average.

At the age of 10-15, Switzerland, Australia, Germany and the US are still the highest paying countries, with project managers earning more than $100,000. But once project managers are over 15 years of experience, professionals from Hong Kong, Ireland, the Netherlands, Qatar, the United Arab Emirates (UAE) and the United Kingdom can also earn more than $100,000.

The highest average salary for project managers with more than 20 years of experience is $162,672 per year in Switzerland.

Project manager salaries by industry

According to surveys carried out byGantt team in 2022. The median salary for IT project managers is $100,939. Project managers in the fields of computer software and hardware, architecture and civil engineering, biotechnology, and pharmacy can earn more than $90,000 a year. A construction project manager salary can also earn around $88,099 per year.

Those:Team-Gantt

How much does a PMI certification affect a project manager's salary?

A Project Management Institute certification can drastically affect a project manager's salary, depending on whichcountry where they work.

In Portugal, Peru, and Colombia, PMI-certified project managers can expect a salary increase of more than 40%, making it a desirable option for anyone looking to increase their income. However, in Belgium and Russia, PMI certification does not affect salary, in the United Arab Emirates and Qatar it can even have a negative impact.

This is important information if you want to work in these countries, as PMI certification can help or hurt your income.

Critical skills that affect growth as a project manager

Management of remote and hybrid teams

Today, being an effective project manager requires more than just organizational talent. With many teams working remotely or in hybrid environments, a project manager must have experience managing hybrid and remote teams to be successful.

Leading teams in different locations means communicating effectively via phone, video, and email; set clear goals; and management of different time zones. It also means using the many digital tools available, such as B. Online project management tools and collaboration software.

While it may seem intimidating, developing these skills can pay off in the form of a higher salary as a project manager. Employers are looking for project managers who can work effectively in hybrid and remote environments. So if you can demonstrate these skills, you can set yourself apart from the competition.

Relationship building and people management.

As a project manager, building productive relationships with employees is essential to increasing productivity and retention. Make sure employees are paid competitively based on their experience and performance to ensure they stay motivated and perform at their best.

It is also important to create an environment in which employees feel valued, recognized and respected. This can be done by providing feedback on your performance, encouraging open communication, and fostering collaboration.

By building and maintaining these relationships, project managers can help maximize employee productivity and retention. In the end, this leads to a better outcome for the project and a higher salary for the project manager.

innovative thoughts

Project managers who can innovate and move companies forward are valuable. Organizations understand that the success of a project depends primarily on the project manager's ability to identify new opportunities, manage resources effectively, and make the most of available resources. Because of this, project manager salaries are among the highest in the industry.

You must not only have excellent management and organizational skills, but also possess creative thinking and problem-solving skills to find innovative solutions to complex business challenges.

A successful project manager can help reduce costs, increase efficiency, and improve customer satisfaction, all of which can help increase a company's bottom line.

digital skills

The right digital skills are essential for anyone in a project management role. These skills will make you more efficient and effective in project management.

From communication and collaboration to planning and budgeting, digital skills can help project managers do their jobs better. It can also help you stay up to date with the latest industry tools and techniques. This can make you more valuable, resulting in a higher salary.

By using the right digital skills, you can help your team thrive and ensure your projects meet deadlines and stay on budget.

Fashion Project Management Software

Successful project managers understand the importance of meeting the needs of their teams with the right project management software solution. If you're interested in learning more about some of the top project management software, the editors at Project-Management.com strongly recommend the following: