A good salary will always attract the best project managers.
It’s an important factor that aspiring and experienced ones will always take into consideration when applying for a job.
This page will tell you about the average pay for project managers across various industries and compare them against other parts of the UK and different countries. You’ll get a better picture of the employment landscape and corresponding salary expectations. After all, everyone wants to know if their earning what they’re worth.
By: Iejaz Uddin – 10 July 2024
Financially rewarding role
Project management can be a financially rewarding vocation. This is borne out by the fact that they enjoy a salary comfortably above the UK average.
In the UK salaries for this profession are attractive all over the country and not just in London. These well-paid jobs continue to attract ambitious and capable candidates who are looking for a long-term career.
The importance of a good salary
Being well paid is a great motivator for most people and one of the main things to get candidates applying for a job. In addition to this, if someone feels they’re being paid what they’re worth then that employee is likely to be more motivated, productive, loyal and happy.
- Helps to attracts new talent.
- Can retain existing talent within a company and the industry as a whole.
Project manager salary in the UK
A salary is a fixed amount payable at regular intervals on an annual basis. They are decided before a person starts work and are fixed between the employee and employer. A salary is normally paid on a weekly or monthly basis directly into an employee’s bank account.
Below are details of what a project manager can earn at various stages of their career.
Entry level project manager salary in the UK
Trainee and those new to project management can expect a salary of between £29,000 to £31,000 per annum.
Experienced project manager salary in the UK
Established project managers with long careers can (depending on the sector) earn anywhere between £40,000 to £70,000. With the average being £46,000.
Senior project manager salary in the UK
For those at the top end of their professional career, the average is around £63,000 plus. Although some in specialist sections and in very high positions can earn up to £100,000 per year.
Freelance project manager salary in the UK
These tend to be employed in contracts on a daily rate, which again depends on factors such as experience, qualifications, sector and location. The average daily rate can be anything between £300 and £500.
Project manager salary in London
The salary for a project manager in London England is between £52,000 to £54,000. This is above the national average.
Project manager salary by country
Here is a breakdown of the salary a project manager can receive based on the country they live in.
USA
Taken as a whole, and once again depending on certain factors, its generally agreed that the average salary of a project manager in America is between $88,000 and $97,000. According to the US Bureau of Labor Statistics (BLS) the median annual salary of a project management professional in 2022 was $95,370.
Australia
The yearly salary of a project manager ranges between $125,000 to $140,000 (Australian dollars).
Germany
A project manager can expect to earn between anything between €60,000 and €77,500 (Euros) per year in the Germany.
Factors that can affect a salary
People in the same job can be paid different amounts. There are various reasons for this, here are a few of them.
Geographical location
Where you work can pay a major part in how much you earn. In the United Kingdon, the prime example of this is London. The salary in the capital for a particular role is almost certainly going to be more that what you’ll get in the rest of the country for doing exactly the same job. The reason for this is because the capital has the highest living costs in the country, meaning you have to pay more for your rent, food and transport.
Some people ask for pay rises
High performers and achievers are not shy about asking for more. They tend to be excellent negotiators who are not afraid about having awkward or uncomfortable conversations. Being confident in their ability and having a proven track record means that they can get a job elsewhere. The employer knows this and doesn’t want the headache of recruiting new staff, so they tend to pay up, literally.
More experienced
Having a proven track record is valuable in project management and gold dust to prospective employers. This is why they are willing to pay an above market salary to keep them and not lose them to a competitor.
Please bear in mind that all the figures on this page are rough estimates as of 2024!
Related: Project manager CV