What is Project Management Salary?
Salary is the fixed regular payment paid on a monthly basis by an employer to an employee. Project Management Salary is the sum that the project management professionals earn.
Table of Content:
Survey Study with countries around the world
- GCC countries
In a previous blog, we talked about Project Management qualifications. Also, how to pursue the course. But we never talked about the motivation that will make you go for it. While commitment is strong, Project Managers take home high incomes. 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 decisive position. Skillful project managers have to estimate it all. From budget, time duration of the project to the seamless allocation of resources. It is their responsibility to gather the necessary materials, monitor the progress in each phase of the project and also coordinate and organize teamwork. Well, it doesn’t end here. In addition to everything else, considering quality, risk, and safety issues are equally important. The good part is that project managers are rewarded for their assigned responsibilities.
Today, we will open your eyes to the cash inflow of a project manager’s bank account.
The role of Project Management is vital in most industries. Yes, project managers get a good amount of payment every month. But, where does this money generate from? It is indeed from the industry that they work for. The annual sum depends on a number of factors. Such as industry, location plus qualification and experience of the manager. Additionally, the budget and the size of the project also matter.
Survey Study for Project Management Salary
Below are the outcomes of the 8th 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 displays the rank of some of the GCC countries. United Arab Emirates was the first among those GCC countries. Project Managers in the UAE receive an annual income that reaches 3,15,878 AED. Say around 26,556 AED per month. Qatar comes after UAE with an income of 3,02,934 per year. Saudi Arabia ranks third; project managers earn around 2,54,682 AED annually.
Although Project managers in GCC countries get high salaries, Australia was leading. Project managers there earn an income of 4,94,598 AED 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 Project Management professionals gain around 4,90,731 AED.
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 from a survey in 2013. Without a doubt, the number has kept getting higher. It is also worth mentioning that Project Management Salary varies according to years of experience, educational qualifications and the type and size of the project.
The field of project management is booming. If you decide to pursue a career in this sector, your career graph will only move higher. To convince you, even more, the salary is impressive (as we just read). The main question now is, where to study project management from? We’ve got you covered!
Lincoln University of Business and Management in partnership with the University of the West of Scotland offers an informative and practical MSc in Project Management program. The course is thorough and taught by leading practitioners. Further, to know more about the program first-hand, book a FREE Demo Class today. You can also check our website for more course details.
We wish you luck and success!