There are multiple sectors such as information technology, construction, manufacturing, finance, and insurance that require skilled managers for their projects. The demand in the industry for these managers is always at the peak. Facts state that India will be the second-largest producer of Project Management jobs all around the world. This is the main reason that the Project Manager salary in India is one of the highest-income jobs. Also, globally, around 22 million new Project Management job openings are expected by 2027.
Now, let’s quickly see what more information we are going to get through this blog.
Check out our YouTube video on Highest Paying Jobs of 2021:
Who is a Project Manager?
A Project Manager is the one who leads the ongoing project and ensures that each phase of the project meets its requirements. The Project Manager acts as the catalyst of the project.
The Project Manager is responsible for various stages of Project Management, such as planning and maintaining a budget, meeting deadlines, and executing, monitoring, controlling, and closing the project successfully. He/she is the only person who is held responsible for both the success and the failure of the project.
Let’s have a look at the roles of a Project Manager:
- Defining deadlines, planning budgets, and appointing employees
- Managing the scope of the project, tasks, infrastructure, materials, and reports
- Timely identification and mitigation of potential risks, etc.
A Project Manager should be competent to meet the goals and specific requirements. In addition, the professional is expected to have an efficient and systematic approach to schedule and manage the project with a minimal margin of errors.
Want to become an expert in Project Management, check out this Project Management Certification Course offered by Intellipaat.
Now, we will see why you should become a Project Manager.
Why should you pursue the career of a Project Manager?
Earning a high salary can be a major factor for which you want to become a Project Manager. However, if you want to become successful in this field, you need to have that charisma and passion to transform an idea into a project and manage it from the beginning to its completion. Therefore, your motive to make a career in this particular field should be clear in your mind before you take your first step.
Let’s look at the factors as to why you should make a career in this field:
- Today, there is a rapid demand for Project Managers, and the demand will increase with time.
- There are a number of sectors available for Project Managers to choose from. Once they enter the field, they get exposure to sectors such as information technology, healthcare, manufacturing, and a lot more.
- They can grow personally as well as professionally as they will get to interact with people from multiple cultures and backgrounds as part of their job role.
- They acquire skills, including risk assessment, which are really important for leadership opportunities.
- Project Managers can turn out to be CEOs over time with experience.
While all this seems to be promising, if you want to grow in your career as a Project Manager, you will have to constantly update your skill sets.
What is Project Management?
Project Management is the process of managing a project from the consumption of the basic idea to its completion. The main stages of Project Management include ideation, creation, execution, and closure. Further extrapolating, these will comprise team management, procurement, integration, controlling, and risk assessment.
A project can be as simple as automating an operational process at the department level in your company or a project that is in collaboration with your clients, vendors, and other stakeholders.
Depending on the needs of a customer for the product to be delivered, a project will have a specified deadline within which it needs to be initiated and completed. Project Management is the discipline that helps companies achieve all the deadlines and specific requirements through various processes.
Let’s dig into how you can become a Project Manager.
Want to pursue Six Sigma Certification for Project Management, check out this Six Sigma Certification course offered by Intellipaat.
How to become a Project Manager?
The basic requirement to become a Project Manager is a graduate degree in this field. If you have a degree and good technical skills in the respective fields that you choose to work in, such as IT, construction, or healthcare, etc., you can easily become a Project Manager. Moreover, if you have good communication skills, critical thinking, and leadership qualities, you will truly stand out in the crowd. These skills can be developed over time with experience and more knowledge in the particular field.
Skills Required to Be a Project Manager
Now, you have got an idea about Project Management as something that needs proper planning, plotting, and direction. Nonetheless, there should be a responsible person to overlook and manage all of these processes. That person is a Project Manager. A Project Manager needs years of experience, hard work, and a specific skill set mentioned in the below image:
Now, let’s come to the main topic of discussion of this blog: Project Manager salary in India. Here, you will get to know the salaries given to these professionals based on their experience, the location they work in, the certifications they have earned, and others.
Project Manager Salary in India
Here is a list of Project Manager salaries in India on the basis of experience. The source of all the salary figures given in this section is Glassdoor.
The average salary offered to a Project Manager in India is as shown below:
||₹237,650–1,125,151 per annum
||₹4,894–154,507 per annum
||₹26,000 per annum
|Total Salary Range
||₹239,808–1,185,568 per annum
For Experienced Employees
If the candidates are in the middle of their career, their annual salary in India will be as given below:
||₹474,757–1,727,870 per annum
||₹10,107–237,792 per annum
||₹50,000 per annum
|Total Salary Range
||₹488,036–1,818,675 per annum
If the candidates are in their late Project Manager career, then their salary per annum in India is as shown below:
||₹639,000–3,517,171 per annum
||₹20,000–503,350 per annum
|Total Salary Range
||₹ 715,980–3,629,905 per annum
Project Manager Salary in the Different Cities of India
Let’s discuss the salary of a Project Manager based in different cities in India. In this section, the source of all salary figures is Indeed.
Project Manager Salary in Bangalore
- The average salary for early-career Project Managers(IT) is ₹634,380 per annum.
- An experienced candidate in the IT hub Bangalore can earn up to ₹1,166,520–2,100,000 per annum.
Project Manager Salary in Hyderabad
- The salary of an early-stage Project Manager(IT) is ₹608,748 per annum.
- An experienced professional gets around ₹1,421,004 per annum.
Project Manager Salary in Pune
- The salary for freshers here is around ₹552,912 per annum.
- The salary range of experienced Project Managers(IT) is ₹1,213,968 per annum.
Project Manager Salary in Mumbai
- Annually, entry-level Project Managers(IT) earn upto ₹710,808 in Mumbai.
- Senior Project Manager salary in Mumbai, India is around ₹1,213,968 on average.
Project Manager Salary in Delhi
- In Delhi, the average annual salary of early-career Project Managers(IT) is ₹404,520
- The same for experienced Project Managers are up to ₹1,212,968 depending on the companies.
Project Manager Salary in Chennai
- In Chennai, on average, the early-stage Project Managers(IT) make a salary of ₹526,644 per annum as per the type of company they get recruited in.
- An experienced Project Manager, on the other hand, can make up to ₹1,458,396 per annum in Chennai.
Project Manager Salary in Other Countries
As is already mentioned that the salary of a Project Manager depends upon various factors, and geography is one of them. So, let’s have a look at the salary distribution for these professionals in different countries.
Salary Source: Glassdoor
||Salary Per Annum
|The United States
PM Salary in India Based on Certifications
There are ample certifications available for Project Managers in the market today, which certify them and further provide them with experience. Some of the popular certifications in this field are given below:
- Six Sigma Black Belt: If you earn this certification, you can earn up to ₹1,193,000 in India.
- PRINCE2: If you have cleared this certification, you can make a salary of ₹1,000,000 in India on average.
- Project Management Professional: This certification will help you earn up to ₹2,000,000 in India provided you have enough skills.
Preparing for jobs? Take a look at our list of most asked Project Management Interview Questions!
Let’s have a look at the other factors that influence the salary of a Project Manager.
Influencing Factors for Project Manager Salary
Here is a list of the factors that affect the Project Manager salary:
- More experience: Managers having more experience earn a higher amount of salary as compared to freshers, managing their first projects.
- Location: Location plays a vital role in the salary of a Project Manager. If a candidate gets a job in cities such as Bangalore, Chennai, etc, will be paid a higher salary when compared to other cities in India.
- Sector and company: The Project Manager salary also depends upon the type of company the professionals choose to work in. The sector they opt for also impacts their salary on a high scale. The bigger the company, the greater the salary.
- Skills: If they have sufficient skills, they can optimize their work efficiently. And greater the performance, more the benefits in terms of salary.
Check out the Agile vs Waterfall blog to get to know the differences!
List of Major Companies Hiring Project Managers
In the image given below, you can find some of the reputed companies that pay a good amount to their Project Managers.
Project Management is an unyielding, established domain. From the facts given in this blog, it is clear that this field is not going to diminish in importance at any time soon. Rather, its demand in the industry is going to be at the peak. Every organization comes up with brilliant and unique ideas, every now and then. To handle these ideas and projects, these companies need some great minds. Transforming an idea into reality can be thrust into the hands of a Project Manager provided the professional is well-equipped with the specific skill set.
We hope that the blog could clear your doubts about the salary, job opportunities, and related information you were seeking on Project Management. If you want to add more points or share feedback, you can tell us in the comment box down there.
Preparing for ITIL job interviews? Have a look at our ITIL interview questions and excel in your hiring journey!