According to Ambition Box, the project manager salary in India can be as high as ₹ 28,00,000 (INR). However, the salary is not the only attractive thing in this profile. The project manager career perspective is also better than most other similar profiles.
As a project manager in any industry, you are responsible for a team or teams of people and ensure they are able to complete the assigned tasks on time. Everything falls under the project manager's responsibility, from charting the project outline to taking care of the budget. Being a project manager is not a simple task. It is recommended you go for Project Management skills training to boost your knowledge and increase your paycheck.
Who is a Project Manager and What does He do?
As a fresher, the first query that pops into our heads is who is a project manager and what does he do. In the most straightforward language, a project manager is someone who organizes, plans, and executes a project while aligning with the company's objective.
A project manager is someone who shall lead a team or teams, define the end goal of a project, chart out the path to reach the goal, communicate with the stakeholders for resources, and finally make sure it gets executed perfectly.
It does not matter how big or small the project is. Instead, a project's success or failure depends on how efficiently a project manager can handle it. A project manager is responsible for a lot of tasks. Some of them include the following:
- Defining the project to the teams
- Keeping updated with the schedule
- Planning an approximate revenue needed to complete the project and sticking to it.
- Managing all the resources efficiently.
- Keeping clear documentation as the project makes progress.
- Regular communication with the stakeholders.
- Weighing the risks and troubleshooting accordingly.
These varieties of tasks show that no consecutive days are the same. Therefore, as a project manager, one must know how to perform each of them effectively and even go the extra mile as and when needed.
Average Project Manager Salary in India
Since it is quite a high-profile role, the average salary of project manager in India is also higher compared to other similar profiles. As per Glassdoor, the average base pay in India is 15,00,000/ yr. (INR).
Project manager's salary in India as per the experience:
- Senior Project Manager Salary in India is approximately 26,00,000 (INR)
- Entry level project manager salary in India is around 4,50,000 (INR)
Know that there could be variations in the salary range depending on the company you choose.
Types of Project Manager Roles in India and their Salary?
In India, commonly, there are five types of Project Managers. They are:
1. IT Project Manager
We know how Information technology is booming right now. Not just in India but globally, IT is making quite a buzz. Hence, it is no surprise that the IT Project Manager is one of the most sought-after jobs. But let us tell you a surprising fact- "Not all IT project managers have a degree in computer science or even coding." Of course, as an IT project manager, it is essential to be familiar with the technologies. However, it is even more important to have creative thinking abilities, organizational skills, and the capability to plan, deploy, manage and execute a project flawlessly.
IT project manager salary in India per month is approximately 1,00,000 (INR) and yearly 14,00,000 (INR).
2. Engineering Project Manager
After completing your engineering degree, you can look for this profile. Whether you come from a civil engineering background or software, a project manager is needed in every field. Most of the time, the Project managers of this field work alongside the construction companies and other project managers to build or maintain new or already existing infrastructure.
The average base pay for an Engineering project manager is approximately 23,00,000 (INR) /yr.
3. Marketing Project Manager
Every company in the market needs a Marketing Project Manager to help sell their products. A marketing product manager is one of the most broad-ranging jobs that you can find in this profile. They are responsible for overseeing the methods used to market a product and change from time to time to implement the necessary moves. To carry out the job effectively, a marketing project manager coordinates with the sales team, public relations manager, and the rest of the marketing team to successfully manage product/products.
According to the Glassdoor website, the average project manager salary in India for the marketing profile is approximately 9,71,414(INR)/yr.
4. Construction Project Manager
To become a Construction Project Manager, you must have a deep knowledge of the industry. They often oversee long projects and are held responsible for managing the resources effectively while managing the supply chain, labor, and time.
The construction project manager salary in India is approximately 9,18,145(INR)/yr.
5. Health Services Project Manager
The health services sector has improved recently after people realized the need for efficient rehabilitative homes, hospitals, etc. Because managing all these requires a lot of tasks, a project manager has become an integral part of the Health industry. This profile is also one of the most stable in the market.
A healthcare project manager salary in India ranges somewhere around 6,47,071(INR)/yr.
Factors Affecting Project Manager Salary in India
Various factors will affect a project manager salary in India. These are:
1. Education
It is evident that to be a project manager, it is important to have knowledge of relevant fields. Most of the time, project managers are MBA graduates, which allows them to understand and execute a project better, and also, the companies are more interested in hiring them. Moreover, being a project manager is quite arduous, a person with an MBA degree and relevant skills often have the upper hand in salary negotiations.
2. PMP Certification
If you know the industry, then you must know that a project manager with a PMP certification gets a 20% higher salary when compared to a non-certified person. Also, you can go for relevant PMP certification training to excel in your field.
3. Experience
Having enough experience in any field is always impressive. It will also allow you to get quite a higher salary in any company once you have at least a decade of experience in the project management field.
4. Job Specialization
Although it is not essential to have a master's degree in the relevant field to become a project manager, having the necessary knowledge is crucial. Just like a person from a hospitality management background cannot become an IT Project Manager. It is vital to have the relevant skills needed to coordinate with the various teams in that particular segment.
5. Team Size
During a project manager interview or in the offer letter, the team size you have to handle is not mentioned. Depending on the various projects assigned, the size of the team keeps on changing. So if you are handling a large project with an extensive team, you might get additional cash compensation in some companies, but the average base pay remains the same.
6. Industry
According to various statistics and data, project managers are the highest-paid in the industry, followed by IT and marketing.
7. Job Location
Job location does not affect the project manager salary in India per month. However, additional cost compensation may be levied if you work for a company where you need to handle several teams to complete a large project.
8. Project Management Methodologies
Project Management Methodology is something that a project manager is expected to follow. He should be able to maintain harmony between the client and the project team with his skills and leadership qualities.
Top Paying Cities for Project Manager in India
The project manager jobs in India salary is quite high. However, there are some cities that pay exceptionally well. The list is as follows:
| STATE | CITY | SALARY PER MONTH |
|---|
Haryana | Gurgaon | ₹61,317 |
Maharashtra | Mumbai | ₹51,957 |
Karnataka | Bengaluru | ₹51,618 |
Maharashtra | Pune | ₹49,871 |
Uttar Pradesh | Noida | ₹39,685 |
Telangana | Hyderabad | ₹39,552 |
Delhi | Delhi | ₹37,519 |
Delhi | New Delhi | ₹35,823 |
Tamil Nadu | Chennai | ₹30,661 |
Top Paying Industries for Project Managers in India
There are a lot of industries that need project managers, but not all of them pay the same. So let us take a quick peek at the various industries:
1. Pharmaceutical
This industry is making quite a buzz regarding project managers because of their attractive packages. For renowned pharma companies, you can expect a project manager's salary to be somewhere near 14,80,000(INR)/yr.
2. IT
The project manager of Information Technology is one of the highest-paid ones. Generally, you can expect a base pay of 14,00,000 (INR).
3. Real Estate
Since Real Estate is a part of the construction industry, their project managers are handsomely paid. The average Real Estate project manager salary in India is 9,18,145(INR)/yr.
4. Healthcare
Although the average base pay for Health Project managers is less compared to other industries, it is also growing at a steady pace. As a result, and looking at the latest statistics, we can expect a sharp rise in the salary of project managers in recent years. As of now, the average salary is 6,47,071(INR)/yr.
5. Logistics
The logistics project manager is a very specialized field that has yet to take off. However, on average, these project managers make around 6,00,000 (INR) /yr.
6. Hospitality
These project managers in the hospitality industry are quite well-paid. As per the latest data, you can expect an average salary of 21,00,000 (INR) /yr.
7. Engineering Project Managers
These project managers are the highest paid in the project manager profile. On average, the engineering project manager salary in India is 23,00,000 (INR) /yr.
Project Management Salary in Top Companies in India?
Most of the leading companies look for project managers. The companies that pay the highest salary to project managers are:
| COMPANY NAME | AVERAGE BASE SALARY (INR) |
|---|
Deloitte | 28,00,506 |
EY | 21,49,014 |
Accenture | 20,39,439 |
Google | 19,59,616 |
Mindtree | 19,00,000 |
Cognizant Technology Solutions | 19,00,000 |
Robert Bosch India | 17,67,301 |
LTI | 17,59,117 |
IBM | 16,84,607 |
Infosys | 16,76,875 |
L&T Technology Services | 16,42,027 |
Microsoft | 5,00,000 |
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Strategies to Earn More as a Project Manager in India?
The project manager fresher salary in India is relatively low in some industries. But there is a way by which you can get a higher salary than your peers. Use these strategies to be more efficient in your field.
1. Pursue-Industry Specific Education
The best way to use this strategy is to make up your mind before even joining college. If you did your graduation from healthcare and now you want to join as an Engineering project manager because it pays the most, it is not possible. Industry-specific knowledge is essential even though a master's degree is not required.
2. Keep Practicing Project Management Skills
A project manager is not a 9-to-5 job. While working in this profile, you are expected to juggle multiple tasks simultaneously. You will only be able to excel in this by practicing project management skills regularly. There are hundreds of videos and articles that talk about how to hone your skills. Use them to your advantage and be a valuable member of your company.
3. Get Project Management Certifications
Even though the starting salary of project manager in India is not too high, you can still get 20% more than your peers. How? Just get a PMP certification. These PMP course and certification will help you get the upper hand when negotiating the salary.
4. Move to a High-Paying Industry
If you have done engineering, the best way to get a better salary is to move to a high-paying industry. For example, you may join as an IT Project manager, but after getting the relevant experience, you can join another company in the Engineering Project manager profile and get a higher salary.
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What Benefits do Project Managers Get Other Than Salary?
As a project manager, there are lots of other benefits that you can enjoy. Some of them are:
1. Paid Time-off
This is one of the most significant benefits of being a project manager. In small-scale industries or other profiles, people often struggle to get paid time off. But since a project manager is a precious part of a company, in most companies, they are eligible for a paid time-off.
2. Health Insurance
Like most other High profile jobs in the Industry, a Project manager gets health insurance complementary to his salary.
3. Retirement Plans
Since most project managers work in a private company, they are not eligible for pensions. However, for a project manager, a retirement plan is charted that he may use to save an appropriate amount of money.
4. Bonuses
Like every other employee, the project manager is also eligible for bonuses. Various slabs decide the amount of bonus a project manager might receive depending on his performance.
5. Awards and Recognitions
Various awards and recognitions are awarded to the project managers by the company or the Project Management Associates Organization like:
| Name of the Award | Awarded for |
|---|
Lifetime achievement awards | Awarded to those who contributed significantly as project manager throughout their life. |
Organizational Excellence Award | Awarded for an Outstanding Performance by the Individual |
National Project Excellence Award | Awarded to a team or organization for the successful completion of a project |
Project Leadership Award | Awarded to those Project Managers who have made a significant positive difference in the outcome. |
Young Project Manager Award | Awarded For recognizing rising talents of the industry. |
Will Project Manager Salaries in India Improve?
According to the latest statistics shared by Glassdoor, there is a high chance of an almost 10% increase in project manager salaries in India. This data shows a promising future for all the industry's fresher and more experienced project managers.
There are three strategies that you can follow to increase your project manager salary in India:
1. Create an Outstanding CV
Remember, when you are applying for a project manager position, you are not the only candidate. There are lots of other people who want to get a job. So what is the easiest way to stand out from the crowd? Get an amazing CV. Now how do you achieve that? Once you have gained enough industry-related knowledge, it's time to get certificates. The PMP certificate from PMI is a gold standard in the industry, and you should definitely have it in your CV if you don't have enough experience.
2. Always Try to be a Part of Bigger Projects
Although in some industries and companies, you may not get the opportunity to choose your project, some, on the other hand, may give this flexibility. If you get the chance to choose a bigger project, always take one. Do not move back, thinking it might be difficult or time-consuming. Always remember when you show your recruiters how significant projects you have handled, it creates an impression of a reliable project manager, which will help you get a better hike in the industry.
3. Gain Experience
We can't emphasize the importance of experience enough. Whenever a recruiter is looking for a project manager to hire, the first thing he wants is for him to have enough experience. Although, as a fresher, you might feel discriminated, but, in that case, you should get enough certification to establish your skills and eligibility. Since a project manager is more like a team leader where he needs to take care of an entire team, the requirement of soft skills is more important than the technical ones in this profile.
Conclusion
Being a project manager is not a cakewalk. It is not something that you can learn in a day or two. When you compare an associate project manager salary India with a junior project manager salary in India, you might find a stark difference. But here, you must understand that the difference lies because of the experience between the two individuals.
You can get PRINCE2 certificate after gaining relevant skills through this certification. Gain the necessary knowledge and practice essential skills to get promoted to a higher level and receive a better package in no time.
