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We went through the hassle of asking 80 project managers how much money they make to find out the average salary of a project manager and how much they make at different stages of their careers. The results were shocking:
Our online survey has collected data from 80 project managers at different stages in their careers. The results have shown that Project Managers make, on average, $101,700 in the US, achieved within 3-4 years of working as a project manager. Starting salary is around $45,000, and the highest paid salary is around $300,000, achieved by working as a project manager for 10+ years.
| Project Manager | Salary |
|---|---|
| Average Annual Salary | $101,700 |
| Minimum | $32,000 |
| Median | $86,500 |
| Maximum | $308,000 |
The data collected only include the annual salary. Usually, project managers make more money with salary bonuses and stock ownership of their company. On average, most project managers are paid bonuses, usually 10%-15% of their annual salary. This means if you make around $85,000 in annual salary, you can make up to a $12,750 bonus.
The results also show that only 16% of project managers who participated in our survey make less than $50,000. While, 44% earn between $50,000 and $100,000. This means 40% or 32 of the project managers who participated in the survey make above $100,000, which shows how well-paid project managers are.
| Project Managers Salary Break Down | % |
|---|---|
| Below $50,000 | 16% |
| Between $50,000 – $100,000 | 44% |
| Between $100,000 – $150,000 | 21% |
| Above $150,000 | 19% |
The data we gathered has also revealed how much project managers make at different stages in their careers. All are explained below.
How Much Project Managers Make At Different Stages In Their Careers?
From our survey, we found that within 3-5 years of working as a project manager, you can make between $80,000 – $112,000, which is a very decent salary as you can make six figures within a minimum of three years as a project manager. This also shows that project management salaries are highly scaleable.
How Much Project Managers Make At Different Stages In Their Careers?
| Career Stage | Salary Range |
|---|---|
| Zero Experience: Student To Undergraduate | $32,000 – $45,000 |
| 0-1 Year Experience: Graduate | $52,000 – $65,000 |
| 2-3 Year Experience: Experienced | $68,000 – $75,000 |
| 3-5 Year Experience: Advanced | $80,000 – $112,000 |
| 5-7 Year Experience: Professional | $115,000 – $158,000 |
| 7-10 Year Experience: Senior | $162,000 – $220,000 |
| 10+ Year Experience: CEO Level | $227,000 – $450,000 |
Why Do Project Managers Make A Lot Of Money?
Project managers make a lot of money because they have a tough job that requires attention to detail to manage projects from start to finish. A lot of paperwork, responsibility and accountability goes with being a project manager, which means that project managers can be liable for mistakes, which is why they deserve such a high salary.
In addition, project managers work crazy long hours, on average, 44 hours a week. We have done a full post on how long project managers work, which can also help shed some light on why they make a lot of money. Check the article here: We Asked 80 Project Managers: How Many Hours Do They Work?
Should You Become A Project Manager?
You probably are reading this post because you want to know the benefit of being a project manager, but there is also a dark side to being a project manager that you should know.
Altogether, being a project manager is a highly satisfying and rewarding career. But there are some issues with this career that make it unsuitable for everyone, such as the amount of stress, long work hours, and responsibility that comes with this career.
We have done all the leg work and research for you so you can learn everything you need about this career before deciding if you want to be a project manager. Check it out here: Is Project Management A Good Career? Honest Opinion.
