A project manager is responsible for the oversight of the whole process of completing a project, from initial design to acquisition of materials to the final presentation. The project manager also is responsible for constructing and coordinating the project team. This vital manager ensures that the team has the resources and materials needed to complete the project on time and within budget. Depending on the project scope, the manager might direct the team himself or delegate management to others. (Payscale.com)
Sponsored School(s)
The specific tasks of a project manager can vary widely by project and company. For most project managers, the minimum requirement for the position is a bachelor’s degree in business or project management. Your educational emphasis should be on science, engineering, management, business, and mathematics. Professionals with the best career prospects often have a project management certification such as the PMP (Project Management Professional).
Some of the tasks that project managers handle typically are:
- Direct and manage the daily tasks of personnel throughout a project.
- Communicate project goals, deadlines, and expectations to employees, clients and management.
- Meet all project deadlines, look for possible delays, and write progress reports to clients and managers.
- Devise project budgets, suggest potential changes, and determine if the project is affordable.
- Write project construction plans and timelines, make decisions on project goals and milestones.
- Interview personnel and do onsite observations to learn the methods, equipment and personnel needed to complete a project
For those who are considering a career in project management, it is wise to review your salary potential. Below is more information about the salary potential for project managers and related careers.
Project Manager Salary Outlook
Bureau of Labor Statistics (BLS)
There are several types of managers listed in BLS data that could qualify as project managers. One of the most significant ones is management analyst. The median salary for management analysts with project management skills is $83,600 with a range between $48,300 and $152,700. The top industries for management analysts by salary were: (BLS.gov)
- Professional, scientific and technical services: $89,300
- Management of companies and enterprises: $83,400
- Finance and insurance: $83,000
- Government: $78,750
A related job is operations research analyst, who often perform vital project management functions as they provide recommendations to companies on how to enhance business operations. BLS reports the median salary in this field is $83,390 with a range between $46,810 and $136,200. The top industries for salaries were: (BLS.gov)
- Federal government: $113,900
- Manufacturing: $92,100
- Professional, scientific, and technical services: $86,700
- Management of companies and enterprises: $85,200
- Finance and insurance: $82,300
Payscale.com
Payscale.com reports the average salary for project managers is $83,487 with a range between $50,000 and $131,000. (Payscale.com). Some of the reported salaries from companies include:
- Amazon: $91,000
- Sprint Nextel: $70,000
- Dell: $97,000
- Hewlett Packard: $79,000
- Microsoft: $96,000
- JP Morgan Chase: $110,000
- Citibank: $106,000
- Cisco Systems: $112,000
Desired skills in this field and related salaries are:
- Project management: $84,100
- Program management: $87,000
- Process improvement: $81,400
- Customer relationship management: $76,600
- Budget management: $86,200
Depending on your experience level, your pay as a project manager can rise:
- Zero to one year of experience: $58,900
- One to four years of experience: $67,100
- Five to nine years of experience: $81,800
- 10 to 19 years of experience: $97,800
- More than 20 years of experience: $113,000
Payment by location can be higher or lower, as well:
- San Francisco: +8%
- Washington DC: +7%
- Chicago: +6%
- Atlanta: +3%
- Seattle: 0%
- New York City: 0%
- Boston: -12%
Ziprecruiter.com
This website reports an average salary of $77,800 for project managers with a range between $27,500 and $137,500. Most in this profession earn between $54,500 and $95,500. (Ziprecruiter.com)
Indeed.com
This website states the average salary for project managers is the US is $83,342. It also notes you can enjoy the following salary increases with these credentials (Indeed.com):
- PgMP: +24.74%
- PMP certification: +18.82%
- PMI-ACP: +24.7%
- Certified Scrum Master: +17.88%
- PMP: +8.93%
Top companies for project managers are:
- Worley: $153,000
- General Dynamics: $129,700
- Ericsson: $128,700
- Apple: $127,500
- Jacobs: $124,000
Highest-paying cities for property managers were:
- Washington DC: $100,400
- Los Angeles: $100,200
- Houston: $95,900
- Charlotte: $92,900
- Atlanta: $89,777
- Chicago: $87,900
- New York City: $84,700
- Denver: $84,300
Job Outlook for Project Managers
The job outlook for project managers is excellent in many occupations. For example, job demand for management analysts will rise by 14% by 2028, which is much faster than average than the average for all occupations. (BLS.gov). Demand for project management and consulting services will grow as more organizations are looking for ways to boost efficiency and reduce costs. As markets are getting more competitive in a strong economy, firms will be required to use resources in a more efficient manner.
It is expected that the demand for management analysts will be especially keen in healthcare. This segment of industry is seeing higher costs because the US population is getting older. Also, more management analysts may be needed to deal with the regulatory environment in health insurance.
It also is anticipated that information technology project managers will be needed and will have high demand. Businesses will be looking for consulting companies to help them get a higher level of Internet security and be certain their IT systems are up to date and safe. We expect demand will be the strongest in smaller consulting companies that are specializing in certain industries, such as IT or human resources.
Average Project Manager Salary by State
| State | Hourly Wage | Annual Salary |
|---|---|---|
| New York - Project Manager | $40.96 | $85,190 |
| Massachusetts - Project Manager | $40.66 | $84,577 |
| New Hampshire - Project Manager | $39.68 | $82,525 |
| Maryland - Project Manager | $37.74 | $78,500 |
| Hawaii - Project Manager | $37.56 | $78,131 |
| Connecticut - Project Manager | $37.45 | $77,905 |
| Alaska - Project Manager | $37.45 | $77,900 |
| Montana - Project Manager | $37.45 | $77,900 |
| North Dakota - Project Manager | $37.45 | $77,900 |
| Wyoming - Project Manager | $37.45 | $77,900 |
| Nevada - Project Manager | $37.45 | $77,900 |
| Idaho - Project Manager | $37.45 | $77,900 |
| Vermont - Project Manager | $37.35 | $77,693 |
| Nebraska - Project Manager | $37.28 | $77,542 |
| Washington - Project Manager | $37.26 | $77,496 |
| Rhode Island - Project Manager | $36.87 | $76,697 |
| California - Project Manager | $36.85 | $76,653 |
| Virginia - Project Manager | $36.67 | $76,274 |
| Arizona - Project Manager | $36.28 | $75,459 |
| New Jersey - Project Manager | $36.05 | $74,975 |
| Colorado - Project Manager | $35.57 | $73,987 |
| West Virginia - Project Manager | $35.55 | $73,944 |
| Minnesota - Project Manager | $35.41 | $73,655 |
| Pennsylvania - Project Manager | $35.41 | $73,650 |
| South Dakota - Project Manager | $35.40 | $73,623 |
| South Carolina - Project Manager | $35.34 | $73,515 |
| Tennessee - Project Manager | $35.21 | $73,229 |
| Delaware - Project Manager | $35.19 | $73,196 |
| Oregon - Project Manager | $35.16 | $73,127 |
| Utah - Project Manager | $34.91 | $72,615 |
| Ohio - Project Manager | $34.84 | $72,475 |
| Kentucky - Project Manager | $34.80 | $72,393 |
| Indiana - Project Manager | $34.61 | $71,980 |
| Oklahoma - Project Manager | $34.52 | $71,803 |
| Louisiana - Project Manager | $34.42 | $71,594 |
| Wisconsin - Project Manager | $34.36 | $71,470 |
| Kansas - Project Manager | $34.25 | $71,248 |
| Maine - Project Manager | $34.22 | $71,181 |
| Iowa - Project Manager | $34.14 | $71,018 |
| Texas - Project Manager | $33.57 | $69,830 |
| Georgia - Project Manager | $33.45 | $69,580 |
| Arkansas - Project Manager | $33.33 | $69,317 |
| New Mexico - Project Manager | $33.14 | $68,924 |
| Alabama - Project Manager | $32.89 | $68,411 |
| Michigan - Project Manager | $32.85 | $68,336 |
| Illinois - Project Manager | $32.75 | $68,121 |
| Mississippi - Project Manager | $32.38 | $67,351 |
| Missouri - Project Manager | $32.05 | $66,666 |
| Florida - Project Manager | $31.57 | $65,666 |
| North Carolina - Project Manager | $28.71 | $59,721 |
Source: Ziprecruiter.com, January 2020.
Summary
The demand and salary outlook for project managers is excellent. With a degree in business, project management or a related field, you should be able to earn a $70,000 or so salary with a few years of experience and move into the $100,000 range down the road.