What is Project Management Salary? In a previous blog, we talked about Project Management qualification and how to pursue the course! But we never talked about the motivation that will make you go for it. Other than your commitment to your career, project managers are known for their high income. Isn’t it the best motivation! Although appreciation and the beauty of achievement have great taste, CASH is still the king.
Project Management is a very critical position where project managers are expected to estimate all; the budget, time duration of the project, allocate resources and required materials, monitor the progress in each phase of the project and coordinate and organize teamwork with considering quality, risk, and safety issues. The project managers are lucky as they are rewarded for their assigned responsibilities. Today, we will open your eyes to the cash that flows to the project managers bank account every month which we casually call “The Salary”.
The project Management role is important in most industries. Although they get a good Project Management Salary, the amount of money they get relies on the industry itself, location, qualification and experience of the manager, the budget and the size of the project.
Below are the outcomes of the eighth edition of the PMI (Project Management Institute) Salary Survey 2013 which was conducted in 33 countries and included 36,000 participants. The study shows the median salary of Project Managers based on the country.
The study showed the rank of some of the GCC countries. United Arab Emirates was the first among GCC countries with an annual income that reaches $86,000 which is $7,230 per month. Qatar comes after UAE with an income of 82,476 per year. The third place was ranked by Saudi Arabia in which project managers get around $69,339 annually.
Although Project managers in GCC countries get high salaries, Australia was ahead of all GCC countries with income that reaches $134,658 per year.
In Switzerland, project managers get salaries that are higher than the GCC countries by 60% and a little lower than Australia. The study presented that PM gets around $133,605.
On the other hand, the survey also showed that UAE Project Manager’s income exceeded the ones received from France, Italy, Spain, Nigeria, and Malaysia.
It is important to note that those amounts are just a median number done in 2013 which kept getting higher since 2013. It is also worth mentioning that those median numbers vary according to years of experience, educational qualifications and the type and size of the project.