In every business line, a project manager is one of the executive-level positions that becomes the career target for all staff. One of the reasons is due to the project manager salary which offers big money to make ends meet. The income also allows for a cosy lifestyle that has become the dream for many.
With a huge salary comes many responsibilities. To earn a big project manager salary, each staff member has to undergo stages that may take years. The article will break down the topic by describing the UK area. If you are eyeing the position, make sure you read until the end. The article briefly discusses the salary for each team leader position.
What does a project manager do?
In a nutshell, a project manager is an all-knowing person for a project because the duties begin from scratch until the completion of the product, and even more so if the client demands them. The position requires them to take responsibility for the daily management of the task. Thus, the tasks are various and dynamic as the scheme may require changes in resources or even budget.
Given the vast and complex task, a project manager is usually someone who already knows all aspects of their subject fields. For example, an IT proposal manager has full knowledge of the timetable for creating an application and the resources. The project manager salary reflects the complexity of the role.
This is because a team leader must consider six aspects of a project until it is completed. The six elements are the scheme scope, schedule, budget, risk, quality, and resources. No wonder the role is such a challenge for all staff who wish to move further in their respective careers.
Details of project manager salary
Like any other role, an operations manager has levels, from entry to senior or experienced. The project manager salary follows that role degree. Certification and company type also contribute to differences in salaries. Certain fields usually offer higher wages. For example, the IT sector has higher salaries than the management field.
Therefore, the average salary in the United Kingdom differs due to several factors. Some team leaders may also earn lower or higher revenues because of different locations and their company types. You can use the following figures as references should you wish to pursue this career path. Don’t forget to pay attention to your current subject field.
Project manager salary based on experience
The number of years decides how much the team leader can receive at the end of the year. As the years progress, the payment will usually be higher to appreciate the better skills to handle more complex tasks. Details about this can be seen below:
Starters
A junior team leader commonly has between three and five years of experience. In the UK, a project manager salary for the starters ranges between £28,000 and £35,000 per year on average. The figures definitely depend on the type of sector and its ability. Having certifications can increase the paycheck amount.
Middle level
You can be called a mid-level operations manager after having at least four to nine years of experience. The basic wage for this level starts from around £45,000 to £60,000. Meanwhile, the take-home pay or the full project manager salary can reach around £56,200 annually. The number already considers factors such as work location and company business line.
What is the average salary for a senior project manager?
After nine years, you can earn a status as senior programme coordinator, where you can hit between £62,500 and £80,000 per year. The figure can even reach £86,000 depending on the company or the scheme. Such a salary range is quite promising if you want to take this path seriously. Plus, it can still increase if a senior operations manager adds more specialised skills and has more projects in the portfolio.
Project manager salary based on the sector
As hinted above, the type of the field plays such a huge role in the wage of the project manager. Several sectors offer better salaries, while some stick to the average pay. To have an idea, here is a breakdown of the estimated income of this role in different sectors:
- IT team leaders can earn up to £50,000 per annum. The value is quite high given the complexity of the project and rising demand in the sector across all business lines. The IT proposals include making applications, websites, e-commerce platforms, IT security tasks, cloud computing, software, and many more.
- A finance team leader can get a payment of £54,265 annually. The salary is on par with the earnings of the construction operations manager. The figure reflects the precision for calculating costs, budget, and financial risks within a plan. Minor errors can lead to big losses; hence, an operations manager for this section is a bit challenging.
- A construction project manager salary can be £54,768 each year. The number is above those for the IT operations manager, as construction proposals often take longer periods for completion. The role also requires high-level problem-solving skills and leadership competencies to deal with various parties. The number reflects the high responsibility of every construction manager as well.
- Healthcare and the public sector each provide £48,258 per annum for the manager roles. The salary is a bit lower than those in IT, construction, and finance but remains promising. If you are interested in the role, be mindful to also study public health, for this will boost the service delivery for all patients.
- A strategy manager in the renewable energy industry also receives £48,258 per year, the same as the role in the health and public sector. Renewable energy is currently in high demand, given the urgency to get cleaner air for the public at low prices. This work is a bit difficult because the energy source remains expensive, and not many can afford it.
- A digital marketing project manager earns less than the previous ones, with £41,842 every year. The amount speaks about the tasks which include promoting a certain product or service using social media platforms. Data analysis and algorithm trends are among the tools used to achieve the goals as quickly as possible.
Project manager salary by certification
Holding specific certifications can make a difference in a project manager salary. The certifications prove that you have competencies and enough experience to do the jobs. Globally, there are three certifications that you can take. Having them will add to your reputation in front of future employees or the hiring team. Check them all below:
- PRINCE2 Certification: This stands for Projects IN Controlled Environments, issued by AXELOS as the owner of the PRINCE2 framework and certification. If you have a PRINCE2 Practitioner licence, you can get around £64,000 as an annual average wage. Consider this if you want to take the path for the long term in the future.
- Association for Project Management (APM) Qualification: You can earn an average pay amounting to £47,500 per year. The test runs for around 2.5 hours online. The potential earning is lower than that of holding PRINCE2 Certification. However, this is still worth it as it adds to your chance of earning more.
- PMP licence: PMP stands for Project Management Professional, which will allow you to get between £50,000 and £80,000. The figures still consider experience, role and field of subject. In short, a project manager salary with this qualification can soar if you complete the licences because the hiring firms will consider them as added value.
The income of the strategy manager by location
Locations speak much about the salary for every team leader. In the UK, you can easily differentiate the areas based on their business activities. Big cities usually see more market events and transactions. The smaller ones don’t see that much. Here are the varied salaries due to that big factor:
- Big cities, such as London, offer the highest income at around £53,718 annually. For Southampton, a programme manager can bring home around £50,856 per year. The project manager salary for those working in Solihull can reach £55,404 every year. Other crowded areas may give similar salary amounts.
- Smaller cities, such as Birmingham, provide a wage that can hit £48,615 per year. Managers working in Bristol are entitled to bring home £46,267 yearly, whereas those in Bournemouth can receive £47,188 per annum. Such a trend can happen in other countries around the world.
Is being a project manager a stressful job?
You might ponder whether or not being a programme coordinator is stressful — yes, it can be stressful and even frustrating sometimes. This may prove the general perception that the higher the salary, the higher the responsibility. However, this depends on the resources, deadlines, and budgets. Plus, the project manager salary reflects how relevant the role is in every assignment.
In addition, the job can face sudden challenges that arise from the feedback of the clients. Let’s take a case of application making. It can happen when a client drops some features of the application after finding them not necessary. This causes an operations manager to adjust the schedule, which may impact the whole project delivery.
Required skills to become a successful project manager
As one of the high positions and a competent system manager salary, this professional must have a set of diverse skills. These include technical skills and soft abilities. They play an equally important part in making sure every task runs well while meeting the deadline. Check out the brief explanations below:
- Technical side: This includes a strong understanding of proposal management methodologies, such as PRINCE2 and PMP qualification. You will need to undergo the tests that assess your competency from this side. The licences also indicate your problem-solving competency to quickly overcome problems that can arise as the project goes on.
- Soft skills: The project manager salary indicates advanced leadership skills for negotiation and team building. This is because a programme manager is a boss who must ensure all of the executors do their duties and then meet the deadlines. If conflicts emerge, this professional has to take action; hence, the operation can still run as expected.
Equip yourself with full project management knowledge with CCM
The College of Contract Management dedicates several courses to this topic because it knows the role requires competencies and abilities. The college's teachers will guide you through this advanced role step by step. Regardless of your current level, they stand ready to coach you on how you can level up your career, and thus, you deserve the big project manager salary.
From documenting the project to problem-solving, the experts know fully well how programme managers can face many challenges. Under their guidance, you can obtain valuable insights and advice to tackle all of that. So, call on them and then continue the journey in the role, as it is worth the effort!
