Experienced Project Managers Command Big Bucks
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Experience Pays
$103,047 is the average salary for a senior project manager, compared with $54,953 for novice project managers just out of college. -
Career Arc
It takes just over seven years to advance from a low-level to a senior-level project manager position. -
Competitive Edge
Only five days a year of project-focused training will reduce that advancement window by 12.6 months. -
Leadership Gap
83% of companies in the survey said they're understaffed at some level of needed proficiency; 44% said the gaps are for senior-level project managers. -
Recruitment Roadblock, Part I
Nine out of 10 of these organizations find it difficult to hire qualified senior-level talent, and 48% said it's very difficult to do so. -
Recruitment Roadblock, Part II
About 45% said it's hard to find and hire relatively inexperienced project managers, but less than 5% describe this as very difficult. -
Top Salaries for Senior Project Managers
Energy/utilities: $147,600, Aerospace/defense: $116,100, Public sector: $113,000 -
Which Region Pays the Most?
The Mid-Atlantic region, which pays an average salary of $110,096. -
Which Region Pays the Least?
The Midwest, with a $97,778 average salary.
It's a good time to be a senior project manager, as organizations acknowledge that they face significant challenges in filling these vacancies, according to a recent survey from ESI International. As a result, experienced project managers are making nearly twice the annual salary of their novice counterparts. Given the circumstances, companies may consider hiring less-seasoned project managers and supplementing any gaps with training. Even a relatively modest amount of project management training greatly reduces how long it takes for newer project managers to take on more advanced roles. "Budget constraints, an aging base of professionals and a looming talent war all contribute to a talent crisis that should be addressed by the highest levels of the organization," says Mark Bashrum, ESI's vice president of corporate marketing and open enrollment. "The growing needs of businesses demand a more strategic view of the staffing, development and promotion of their project managers, since project execution impacts an organization's bottom line and its ability to satisfy its customers." A total of 1,800 project management professionals took part in the research.