Alexandra Levits Water Cooler Wisdom Salary Trends for Project Managers and the Like

Alexandra Levit's Water Cooler Wisdom Salary Trends for Project Managers and the Like PMI’s 2015 Earning Power survey reveals that current project management compensation varies widely. The Project Management Institute’s 2015 Earning Power report, which is based on a survey of more than 26,000 respondents in 34 countries, detailed 12-month salary trends among 15 demographic variables and shares important insights on roles ranging from entry-level project managers to senior executives. Overall, most participants (72 percent) reported that their total compensation (including salary, bonus and other forms of compensation) increased over the 12 months prior to completing the salary survey, with over one-fourth (27 percent) of respondents reporting increases of at least 5 percent over that time period. The median annualized salary recorded in this survey, across all countries, roles and experience levels was $81,000 (USD). Approximately 75 percent of respondents earned at least $53,689 (USD), and the upper 25 percent earned at least $110,000 (USD). However, median salary varied greatly depending on a number of key demographic factors including the following: Country of employment Number of years of experience in project management PMP ® Certification Status Position Average size of projects managed, including average project budget and average project team size Country of Employment The median salary for someone in the project management profession varied widely from country to country. The country with the highest median salary ($130,000) was Switzerland, whereas the country with the lowest median salary was Egypt ($19,602). Industries Project managers in thepharmaceutical, agricultural, mining, consultation, aerospace, engineering, utility, governmentandITindustries were among the highest paid. Experience Although the total number of years of work experience did not appear to impact salary, the stronger correlation was with the number of years a person had worked within the project management profession. The most dramatic increase was seen in Singapore. The median salary ranged from $47,657 for those just starting out in the project management field to $131,972 for those who had been in the field for 20 years or more. This represented an increase of 177 percent from low to high experience in the field. The difference in median salary was not nearly as striking in China, for example. For those with less than three years’ experience, the median salary was $21,073 compared with $29,178 for those practicing project management for 20 years or more. Certification The majority of participants in this study earned the PMP ® certification. Those with the certification were paid more than those without in virtually all of the countries. The largest differential was noted in South Africa where PMP holders had a median salary 47 percent higher than those without the certification. In nearly all countries, median salary steadily increased with PMP tenure. In Taiwan and Saudi Arabia, the median salary of those who had been certified for 10 or more years was more than double those who had been certified for 5 years or fewer. For the rest of the piece, check out QuickBases Fast Track blog.