Project managers are responsible for a variety of tasks in the business world. They are the individuals that delegate tasks to others, and they are ultimately the ones responsible for the success of a project. If you have keen managerial skills and a solid ability to multi-task, this could easily be the career for you. The project manager salary you earn will vary based on where you work and the kinds of projects you take on, so it is hard to pinpoint exactly what you may make in the future. The salary ranges below should give you an overview of what you might be able to make in the future.
Project Manager Salary by Degree
While you do not have to have a degree to work as a project manager, many employers nowadays seek out applicants with associate’s or bachelor’s degrees. Degree holders typically make more money than non-degree holders. Here are some of the salary rates you may see with a college degree: Associate’s Degree: $44,016 – $106,312; Bachelor of Science (BS / BSc), Computer Science (CS): $56,882 – $119,315; Bachelor of Science (BS / BSc), Management Information Systems (MIS): $55,199 – $110,526; Bachelor’s Degree: $47,938 – $114,784; Master of Business Administration (MBA): $54,869 – $121,158. As you can see by that data, those with higher degrees often make more money. That may inspire you to get a solid education.
Project Manager Salary by Industry
Project managers can work in just about any industry, but there are some industries that are more popular than others. The annual salaries for some of America’s top industries include: Financial Services: $48,305 – $118,781; Healthcare: $48,128 – $120,253; Information Technology (IT) Services: $44,444 – $116,386; IT Consulting: $48,683 – $120,499; and Software Applications: $49,252 – $117,609. These industries do not show extensive fluctuations in salary levels, but they do indicate the amount of money you may make with a certain career concentration. If there is a sector of project management you are thinking about working in, you should research the amount of money you could make in it. That may change your mind about what your specialization may be.
Project Manager Salary by Employer
Your employer will ultimately determine the amount of money you make in project management. Some employers are known for paying well, and others do not have enough demand for project managers to pay top dollar. Some of the top paying employers in the industry are: Accenture: $64,247 – $118,445; Computer Sciences Corporation (CSC): $59,392 – $110,173; Hewlett-Packard Company: $52,592 – $112,379; International Business Machines (IBM) Corp.: $58,937 – $126,455; and IBM Global Services: $51,064 – $122,652. You may try to seek out work with one of those employers whenever you enter the work force. Most project managers for these companies have immense experience in the field, but you may be able to score an entry-level position with one of them. You just have to apply and see what happens.
Project Manager Salary by Location
Project managers are in high demand across the country, so you should make good money no matter where you go. Nevertheless, there are some cities that pay more money than others. Here are the salary ranges for the ten highest paying cities in the country: (1) Alexandria, Virginia: $54,248 – $136,846; (2) McLean, Virginia: $58,657 – $131,629; (3) Fairfax, Virginia: $63,465 – $133,957; (4) Palo Alto, California: $49,616 – $125,889; (5) Chantilly, Virginia: $68,525 – $144,440; (6) San Jose, California: $56,025 – $127,215; (7) Princeton, New Jersey: $69,262 – $136,391; (8) Washington, District of Columbia: $60,268 – $128,570; (9) Herndon, Virginia: $62,170 – $120,615; (10) Pleasanton, California: $48,671 – $126,845.
Based on that data, Virginia and California seem to have the best paying jobs in the country. However, the cost of living in some of the cities above is fairly high. Thus it may be in your favor to work in another city so you have more money to spare at the end of the day. You will have to research pay rates in your area to find out what you may be able to make.
Conclusion
Even though it is hard to determine the exact project manager salary you may earn, it is easy to see that you will make good money in this industry. The more experience you have, the more money you will make. With the growth expected for this career in the future, you should have immense earning opportunities ahead of you. Look into this line of work a little more to determine if it suits your skills and needs.
