Up to 12% of company resources can be wasted due to bad project management. This is not a myth but a fact. Even up to 54% of the companies globally fail to track their real-time KPIs effectively. So, who do you think is primarily responsible for the mismanagement? The project managers, of course. Even when we are talking about a company's progress in general, it is the CEO or the Vice President who gets all the praise.
But what we don't recognize most of the time is that the project managers are responsible for the success of various projects. So being such an essential part of the company, you must wonder what the project manager salary in Canada is. Taking Project Manager courses will help you boost your learning and ultimately your earning.
What is Project Management?
Before we dive into the tasks a project manager needs to perform, let us first take a peek at the meaning of project management. Project Management is planning, organizing, and executing a particular task or project efficiently using the company's resources and revenue. Although various projects can depend on the industry, the fundamental pathway remains the same. As a part of project management, a manager and his team also need to follow a particular outline, plan and modify according to the client's needs to ensure timely submission.
Every project has a predefined time frame and a budget. Every team member, under the guidance of the manager, ensures they can finish their assigned task on time, keeping in mind not to cross their revenue limits. Project Management is not just about completing a project. It is about finishing it successfully by meeting the client's expectations while aligning with the company's objectives. Hence, the project management salary in Canada is also relatively high compared to other job profiles.
Who is a Project Manager?
When someone asks this question, the first thought that comes to our mind is that "a project manager is someone who leads and manages a particular project." But a project manager's job is not as easy as it might seem. Project managers are responsible for planning, initiating, managing, executing, and finally completing a project.
Project managers do not just have the technical skills required in a particular job profile. For example, as an IT project manager, profound knowledge of technology is not necessary. However, leadership qualities are a must-have when applying for a project manager job. As a project manager, you must have excellent soft skills and problem-solving capabilities. In addition, you must recognize that the average salary of project manager in Canada is also high due to many factors.
Average Project Manager Salary in Canada
You must have noticed that thousands of people migrated to Canada in search of a job with a good pay package. As a result, hundreds of leading MNCs are offering jobs at a high pay scale. So, it is apparent that there is a rising demand for project managers in various companies to manage and execute projects.
On average, a project manager in Canada gets around CAD 137,000 per year. However, this might increase or decrease depending on various factors like the company you choose years of experience you have, etc.
How Much Does a Project Manager Make in Canada?
When it comes to a project manager salary in Canada, you must note that they are pretty handsomely paid. You don't have to worry about negotiating the pay scale if you can target the right industry and garner sufficient experience. However, even as a beginner, the companies in Canada pay pretty well.
1. Entry-level Project Manager Salaries
A person is considered at the Entry-level if he has less than two years of experience in the same profile. According to the latest data, the entry level project manager salary in Canada is around CAD 80,100.
2. Mid-level Project Manager Salaries
Once you have garnered two years of experience in the project manager profile, you are promoted to a Mid-level project manager and paid accordingly. So how much do project managers make in Canada at this level? According to the data on project manager pay in Canada, they get around CAD 105,000.
3. Senior-level Project Manager Salaries
Once you have enough experience in the field of a project manager in any industry, you are promoted to the Senior level. Anyone with an experience above six years is eligible for the promotion. So, a senior project manager salary Canada lands somewhere around CAD 147,000.
6 Important Factors in Project Management Salaries in Canada
You must wonder why there is a stark difference between a project manager salary in Canada per month and other job profiles. Well, a few factors play a pivotal role in this. Let us take a sneak peek into them.
1. Education
When it comes to a project manager salary per hour in Canada, education plays a very significant role. Of course, you do not need a Ph.D. in the field to get a good salary, but a minimum level of education is necessary. According to the latest statistics:
- A person with the highest qualification as a high school degree makes around CAD 96,000 in Canada.
- If you have done a certification course like PMP training and certification or have a diploma, you can expect a 15% hike.
- Someone with a bachelor's degree is eligible for a 41% hike which makes the project manager average salary Canada to be around CAD 155,000.
- Finally, a person with a Master's degree in the field and enough experience is often considered at a higher position with a fantastic hike. On average, these senior project manager Canada gets around CAD 200,000 annually.
2. Contract or Permanent
Many companies hire project managers on a contractual basis. Sometimes, however, if the company loves the performance, they convert them to full-time employees. Now you must wonder how much project managers make in Canada when they work on a contract basis. You will be surprised to learn that project managers who work on contacts get 30% more than regular employees, according to the latest data. Now you may think, why should anyone want to become a full-time employee? The reason is simple, you get job security where you don't have to think about the next project in line, and you get an additional 10-15% benefit for the lost 30%.
3. Generalist or Specialist
Whether you want to become a generalist, or a specialist depends on you. The primary difference between them is that as a specialist, you're a subject matter expert who knows how to communicate with other technical stakeholders. On the other hand, the generalist emphasizes project management more than the technical aspect. Therefore, as a generalist, the number of opportunities is more due to their ability to adapt. However, a specialist is paid more because they bring excellent managerial skills, technical knowledge, and expertise to the table.
4. Certification
If you lack a Bachelor's degree or Master's, then you should definitely take a certificate course to enhance your knowledge and improve your CV. As per the latest reports, a junior project manager salary Canada with a certificate is 15% more than a non-certified person's. According to various postings of project management jobs in Canada salary, a certified person makes around CAD 110,000 per year.
5. Sector
The sector in which you are a project manager makes a significant difference in salary. As per the data received, the project manager salary Canada 2022 is the highest for those in the IT industry. The median salary for project managers in this sector is CAD 121,387 annually.
6. Project Budget
For full-time employees, the project budget does not affect the salary of a project manager. But if you are talking about how much does a project manager make in Canada when working contractually? Then the salary might depend on a budget of the project.
7. Cities
The cities have a direct impact on the project manager average salary in Canada. So how much does a project manager earn in Canada in the different cities? For example, people living in Toronto get a median salary of approximately CAD 89,617. On the other hand, a project manager in Montreal might get an average salary of CAD 74,582.
Top Paying Cities for Project Manager in Canada
The highest paying cities in Canada in descending order are as follows:
| CITY | Average Salary Per Year |
|---|
Toronto, ON | CAD 89,617 |
Vancouver, BC | CAD 86,257 |
Calgary, AB | CAD 83,914 |
Mississauga, ON | CAD 83,280 |
Edmonton, AB | CAD 83,058 |
Ottawa, ON | CAD 82,739 |
Winnipeg, MB | CAD 78,555 |
Burnaby, BC | CAD 77,681 |
Montréal, QC | CAD 74,582 |
Top Paying Industries for Project Manager in Canada
The industries that pay the most to project managers in Canada are:
| Industry | Average Base Pay |
|---|
Construction | CAD 91,372 |
IT | CAD 91,300 |
Real estate | CAD 85,356 |
Marketing | CAD 73,057 |
Agriculture | CAD 69,384 |
Project Manager Salary in Top Companies in Canada
There are a lot of MNCs located in the country that is constantly looking for project managers. Some of the highest-paying companies in Canada include:
| Company Name | Average Salary Annually |
|---|
SNC-Lavalin | CAD 242,384 |
HRG Group | CAD 129,955 |
General Contractor | CAD 126,690 |
York Region | CAD 116,882 |
City of Richmond Hill | CAD 114,776 |
Government of the Northwest Territories | CAD 109,844 |
Project Manager Bonus and Incentive Rates in Canada
As a project manager, you are eligible for multiple bonuses and incentives that are paid in addition to your base pay. Since the project manager is considered a high bonus-based job due to their limited involvement in the direct revenue generation of the company, they are rewarded much more often than others. Four types of bonuses are considered for project managers:
- Individual performance-based- This is the most standard one, where a project manager is awarded for exceptional performance.
- Company Performance- Some companies enjoy celebrating their success with their employees. These companies often give out bonuses when they receive additional profits.
- Goal-based- This bonus is awarded when a project manager can hit a particular milestone.
- Holiday or Festivals- These bonuses do not depend on the company's or manager's performance but are given out as a token of appreciation.
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Why Should You Become a Project Manager?
It would be best to ask yourself this question before you embark on this journey. Do not come into the field because the project management average salary in Canada is so high, or you will be bossing around a group of people. You should apply for this job only if you have the interest and skills to successfully lead a team in executing a project. You should become a project manager because you:
- Love challenges and use your creativity to come out of them every time.
- Know how to manage a team and maintain a good relationship with the stakeholders and the team members for timely and successful project completion.
- Be aware of how to get things down faster while maintaining the efficiency and quality of your work.
- Always open to learning new things - be it a new skill or new information.
How to Stay at the Forefront of the Industry?
When you hear about the associate project manager salary Canada or assistant project manager salary Canada, you are attracted by the numbers. However, what you miss in this is the sheer amount of time, patience, and skill needed to always stay at the forefront of the respective industries.
As an efficient project manager, you should know how to set the business goals for your team to get the best results faster. Participate in events, get in touch with industry experts, and constantly update yourself to ensure you are not falling behind. There are a few tactics that you can follow to stay ahead of the rest of the crowd. They are:
- Get Certified: This is one of the oldest tricks in the book that most people fail to follow. If you have a PMP certification from renowned organizations that are relevant to the industry you are working in, you naturally gain the credibility to be more efficient in your field. Even though to become a project manager, deep knowledge is not required, if you want to have the upper hand and wish to stay ahead of the crowd, this is an excellent approach.
- Make Yourself Familiar with Software like Kanban Boards: As a project manager, you should always stay updated with your team's progress. Doing this manually is an arduous task but an important job. So, if you want to flourish in this field, the best way is to use Kanban software. It is a helpful tool with columns representing different project stages with different colors. You can also create individual cards for your team members that will move through the columns as they progress. An organized team will create a better work environment and help you represent a more efficient project manager than the rest.
- Learn Cost Management: The ability to keep a project's cost to a minimal level is an essential skill of a project manager. At the beginning of a project, create a budget, ensure the team members and the stakeholders are familiar with it, and ensure they are all working accordingly by not surpassing it.
Conclusion
We hope by now you are pretty aware of the answer to the question, "how much do project managers earn in Canada?"
Even though the pay scale is attractive, you must also understand that being a project manager is not easy. You not only need to have industry knowledge but also leadership skills to lead a team of people. Only when you can incorporate both your technical as well as soft skills, then only will you be able to succeed as a team leader. PRINCE2 training providers will help you earn certification training and boost your knowledge.
