Whenever we think of looking for high-paying jobs, one of the profiles that often pops into our mind is that of a project manager. One of the reasons why it is a popular choice among candidates is because of the versatile nature of the job. No matter which part of the world you belong to, there are great opportunities for project managers in various. They are highly paid and admired because what they do is not a one-person job.
They take care of the technical details and simultaneously ensure proper management, execution, and completion of a project. Hence, their demand across the globe. Let us check what is project manager salary in the USA. Also, going for Project Management courses for beginners will help you work on your skills and boost your salary number.
What does a Project Manager do?
As the profile's name suggests, a project manager manages a project. But it is not as simple as you might think. When a project is assigned to a team of people, a project manager is held responsible for the successful execution and completion. A project manager has to design a path to be followed by the team members to complete the project.
He takes care of keeping in touch with the corresponding stakeholders, managing the team, making changes as per the requirement of the client, and taking care that the resources or the company are used by not over exhausted. A project manager should know how to keep complete a project within a predefined budget and ensure that client satisfaction is met while aligning with the values and objectives of the company.
What is the Average Project Manager Salary in USA?
The United States of America pays its project managers one of the highest packages. Although the final base pay may vary depending on various criteria like company, years of experience, education, etc., the project manager average salary US is typically around $108,000. However, the salary ranges between $51,000 being the lowest and $171,000 being the highest.
Project Manager Career Path and Salary Trajectory in USA
Most people believe that becoming a senior project manager is the end of the path. But this is not true. A project manager can be promoted up to 6 levels per the trajectory shown below. The project management Salary in US also varies accordingly:
L2 – Project Manager
- Experience -> 2 – 6 years
- Average Salary -> $150,000
A project manager should be able to organize, manage and execute a project successfully.
L3 – Sr Project Manager
- Experience -> 7 – 14 years
- Average Salary -> $ 230,000
As a Senior Project manager, you should oversee whether the plans are executed properly, keeping an eye on the budget and deadline.
L4 – Delivery Manager
- Experience -> 15 – 20 years
- Average Salary -> $ 260,000
A delivery manager ensures the project is delivered to the clients seamlessly without any faults or hiccups.
L5 – Delivery Director
- Experience -> 15 – 20 years
- Average Salary -> $310,000
A delivery director conducts the research and presents it to the delivery team and clients to establish the right workforce.
L6 – Vice President – Project Management
- Experience -> 15 – 25 years
- Average Salary -> $390,000
Since it is the senior-most level in this path, a Vice President is responsible for developing, overseeing, and establishing the best workforce practices.
Influencing Factors for Project Manager Salary in USA
If you are wondering about the various factors affecting the project manager US salary, read along to find out:
1. More Experience
Having at least a few years of experience is looked forward to in every field. However, since the project manager is like a team leader who handles not only the technical aspects of the project but also the managerial part, it is not an easy task to become one.
However, it is also a fact that you learn on the go. So it is not that a beginner won't be able to join as a project manager. The only thing here is that the more years of experience you have, the more you can earn. On average, per the statistics shared by Glassdoor, a person with less than three years of experience makes around $74,100, while a senior project manager salary USA is approximately $95,696.
2. Location
Even though it is pretty surprising, your geographical location plays a significant part in the amount of money you earn. For example, if you look into the popular job posting websites, you will notice that the ones that are for recruitment in Boston, New York City, and San Francisco Bay offer higher pay packages than the other regions of the USA.
However, you must not be blinded by the high pay scale. Since you need to live in the city as well, you must consider the amount of living cost you need to spend and then judge the package accordingly. Often the cities that are paying handsomely have a very high cost of living.
3. Sector and Company
Not all sectors pay you handsomely, even if you are a project manager. So when choosing your job profile, make sure you consider the latest trends before making up your mind. The salaries, according to the industry, are as follows:
| Sector | Average Base Pay |
|---|
Consulting project manager | $98,716 |
Resources, energy, utility project manager | $71,771 |
Pharmaceuticals project manager | $78,925 |
IT project manager base salary | $94,141 |
Government project manager | $85,837 |
Healthcare project manager | $92,862 |
Construction project manager | $87,139 |
4. Skills
Apart from being good at your subject, a few skills are necessary if you wish to become a Project Manager. They are:
- Agile-The skill to change as per requirement
- Analysis skill- the ability to analyze a situation and take necessary steps to bring it under control.
- Budgeting- The quality of completing a project by staying within budget limits and not breaching them until necessary.
- Computer Skills-A basic knowledge of this is a must-have.
- English- Being one of the most spoken languages in the world, fluency in this language helps in keeping the language barrier aside.
5. Education
It is pretty evident that a person with higher education will make more money than someone without. According to the latest reports, 68% of project managers in the United States of America hold a bachelor's degree, and 14% even have a master's qualification in their relevant fields. As per the reported salaries on various websites:
- A person with a bachelor's degree makes around $102,588
- A person with a master's degree makes $114,821
- A person with a Doctoral degree makes $121,387.
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Skills Affecting Project Manager Salaries in USA
Whether you join as a fresher or an experienced person, the US project manager salary can vary depending on specific skills like:
1. Communication Skills
A Project manager is not someone who shouts orders; the team members have to execute them. A project manager should have good communication skills to delegate tasks efficiently and stay updated with the project's progress. A sound communication system is one of the primary factors for the success of any project.
2. Auto CAD Knowledge
Since the world runs on computers, you must have basic knowledge about it to succeed in your field. The knowledge of Auto CAD has become an essential skill for every project manager. Even if you do not have a profound knowledge of the software, adequate knowledge is a must-have.
3. Analyzing Skills
As a project manager, you must constantly analyze the situations, whether solving a problem or taking a risk. A good project manager can weigh out the pros and cons of every situation efficiently, ensuring the results are in the company's best interests.
4. Budgeting
Every project comes with a predefined budget, and a project manager must know how to stick to it. However, sometimes, the budget is not enough; in that scenario, the project manager must identify alternate ways to overcome the problem and complete the project successfully within the assured revenue.
To hone these skills, you can enroll in PMP training program. This course will help you boost knowledge of project management your and aid you in getting a high-paying job.
Become a project management expert with PRINCE2 foundation training. Start your journey towards success now!
Highest Paying Cities for Project Managers near United States
The cities in the US that pay the highest salary to project managers are as follows:
| CITY | Average Package |
|---|
Los Angeles, CA | $98,188 |
New York, NY | $95,552 |
San Diego, CA | $92,806 |
Houston, TX | $91,127 |
Atlanta, GA | $90,883 |
Austin, TX | $87,463 |
Dallas, TX | $86,857 |
Denver, CO | $86,272 |
Chicago, IL | $85,053 |
Top Paying Industries For Project Managers in USA
The industry in which you work will directly impact how much you earn. The order of industries in accordance with the descending US project manager salary is as follows:
| Industry Name | Average Base Pay |
|---|
Resources (Agriculture, Mining, etc.) | $134,577 |
Consulting | $134,149 |
Pharmaceuticals | $133,246 |
Aerospace | $129,732 |
Food and Beverage | $124,559 |
Engineering | $124,434 |
Utilities | $122,255 |
Information Technology | $122,245 |
Top Paying Companies for Project Managers in United States
The companies located in the USA that pay the highest salary to project managers are as follows:
| Company Name | Average Package |
|---|
ExxonMobil | $247,206 |
Blusky Restoration Contractors, LLC | $172,723 |
Apple | $138,717 |
Pavilion Construction | $129,467 |
SAIC | $128,451 |
Cisco Systems | $126,962 |
Citi | $ 124,993 |
Project Manager Salary Comparison by Gender in United States
Whether you like it or not, the salary of project manager in US also varies depending on your gender. Even though numerous protests and petitions have asked for equal pay in the workplace, the pay scale still seems to have a bit of disparity. According to the latest statistics, a woman project manager makes at least 5% less than a man in the same profile. So, on average, if a male project manager makes $111,000, a woman will make $106,000 even if they are in the same company and handling similar projects.
Project Manager Bonus and Incentives in USA
The profile of a project manager is that of a high-bonus employee. As per the latest reports, more than 80% of project managers confirmed receiving a bonus in the last financial year. The bonus rates vary between 5-9% of their total salary. There are different types of bonuses a project manager may receive:
Performance-based
This is an individual award that a project manager gets based on his performance in the company.
Company Performance Bonus
When a company performs really well and makes extra profits, some like to celebrate with their staff by awarding them bonuses.
Goal-based
In some companies, you are eligible for a bonus once you reach a particular milestone called a Goal-based bonus.
Holiday or Festival Bonus
This bonus has nothing to do with performance but is awarded by the company out of gratitude.
Why Should you Become a Project Manager?
There are various reasons why someone wants to become a project manager. While some are attracted to the average salary of a project manager in USA, others love the leadership aspect. But your interests are not enough if you want to succeed in this field. You need to have passion and resilience to stick to it from beginning to end while constantly updating yourself.
However, there are three most significant reasons people want to become project managers.
- Challenging and Creative Position: As a project manager, it is his responsibility to ensure the project always stays on the top in terms of performance. To do this, one needs to solve the problems encountered during the project and, at times, find creative ways to overcome challenging situations.
- Learn to be Agile: Using agile methodologies will help you complete your project on time. Once you adapt agile methodologies, you can figure out how to get things done faster while maintaining efficiency and high-quality work delivery.
- An all-time Learning Experience: There are very few positions in the industry that will always provide you with a window for learning. In most of the profiles, once you reach a certain rank, there are very few things left to learn. However, that is not the case when you are a project manager. Since every project has some unique demands, you will need to learn new skills or strategies to ensure successful project delivery.
Conclusion
Project Manager is not a job profile that one might substitute with some AI-generated feature. However, the demand for efficient project managers is continually rising as new companies are added to the market daily. All you need is the right skills and knowledge about the field, and you can easily land yourself a job with an excellent project manager salary United States. Going for PRINCE2 training and certification will help you land your dream job.
