How Much Do Project Managers Make?
Throughout numerous different fields, project managers specialize in forming clear and attainable project goals and seeing them through from inception to successful completion.
Project managers are often responsible for designing a project schedule, clearly communicating expectations to all team members, acting as a mediator, resolving all issues throughout the life cycle of the project, approving all project change request forms, working with project sponsors to establish a budget, keeping track of project milestones, recruiting appropriate staffing resources for external consultants, and motivating team members on a proactive basis.
Salary
How much does a project manager make? According to the United States Bureau of Labor Statistics, there were 1,899,460 project managers employed in various fields throughout the United States in 2012. The average yearly project manager salary is $114,850, which is equivalent to a mean hourly wage of $55.22.
The lowest 10% in the profession earn $46,890 or less per annum, while the highest 10% of project managers earn upwards of $179,480 annually. Project managers employed in management consulting services make considerably more than average at $145,830, but those that work in computer systems design earn even more with a mean annual salary of $156,320. The top-paying state for project managers is New Jersey, where project managers can expect to bring home a mean $161,160 annually.
Work Environment
Project managers find employment in nearly every industry, including the management of companies, restaurants, computer systems design, management consulting services, residential and nonresidential building construction, security and commodity exchanges, civil engineering, and other financial investment services.
Most project managers are employed on a full-time status, but many are required to be on call 24 hours a day for projects that continue around the clock. It is also common for project managers to work longer overtime hours when projects begin to approach their deadlines.
Job Outlook
Employment for project managers is expected to grow about as fast as the national average for all professions in America at a rate of 18 percent, which will create 55,800 new jobs before 2020. The most promising job prospects for project managers will be found in computer and information systems due to an increased demand for managers to direct their attention against cyber crimes. Project managers will also be increasingly employed in construction services to lead projects for the latest trend of designing more energy efficient buildings.
