The PMI’s market research team has conducted a survey at the end of last year and the results were published during the first quarter of this year. Nearly 35,000 project management practitioners from countries including Australia, Brazil, Canada, China, France, Germany, Hong Kong, India, Italy, Japan, Mexico, New Zealand, Saudi Arabia, Singapore, South Korea, Taiwan, United Arab Emirates, United Kingdom and United States provided their salaries with the research team. You can find the quick summary of the survey below.
The salaries of project managers varies based on number of years of experience, domain, places they live and countries they live. Project Managers’ who work in Australia gets more and Project Managers’ who work in China gets lesser than their Australian counterparts. The annualized salary per country (in USD) shown here:
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Few other key findings include: Entry-level project managers earn less than experienced project managers; Project managers with Master’s degrees and PhDs earn more than project managers who hold Bachelor’s degrees. Project managers who work for IT organizations get more than project managers who work in other organizations.
If you want to see the full report, I would recommend you to buy the same from PMI. The full report costs you USD 150 and the country specific reports cost you USD 50 each. The summary reported here is based on the data collected last year. This year’s survey might bring different results. As we all know, most of the companies try to get the best talents at a lower price. I’m sure this summary would help you to negotiate your next offer.
Original Author : Dr. Joseline Edward Lucas, PhD, PMP
Courtesy : http://www.way2pm.com/
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Thanks,
Lucas
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Good one Lucas. Very though-provoking.. I’m sure all the PMs amongst us will benefit from this information
Difficult question, i would like to reframe the question ..Q : How can a Project manager justify his salary ?
Interesting to see this announcement the same day that the DICE ; “Temporary Cubicle” report for October was issued. My experience both in IT technical work and IT recruitment leads to the following observations:
The idea that all Project Manager jobs or their incumbents, whether perm or contract, are created equal and thus their compensation levels can be compared is clearly false.
Contract Project Management compensation can be hourly, or in some industries, eg investment banking, fixed price for a ‘professional day’, and tends to exceed annual pay on the face of it, but in any case will tend to distort the numbers. Salaried jobs in all countries on the other hand generally include paid vacation/holidays, subsidized medical benefits and some matching of retirement contributions, which are a form of future compensation not necessarily captured in the raw data.
Haiving said all that, there is a benefit – if very high level – to this type of salary survey. The DICE report makes it clear that slightly more than half the jobs currently listed there are for permanent employees. with lower salaries. So go figure!