Project managers are always in demand in virtually every industry. Project management is also quickly becoming a very popular career choice for recent graduates and those looking for a change in career. This is making competition fierce for every project management role out there.
However, just because there are plenty of other project managers hoping to get your job, doesn’t mean that you should let yourself be undervalued by your employer. If you have a proven successful history as a project manager then you would hope that your current pay packet reflects your value.
So how much should you be being paid in your current role and how do you know if you should be asking for a pay rise?
How much does an average project manager earn?
Wages for project managers often vary depending on the maturity of the manager. The most successful managers who have been in their roles for years will obviously earn more than those who are new to their careers. Whilst roles across different industries will pay slightly different wages, entry-level project managers and those who have just completed a project management apprenticeship can expect to earn around £30,000 per annum.
Across the UK, the average salary for the average project manager is around £41,000 per year although Technical Project Managers can potentially earn slightly more than the average, with common salaries for this position usually being around £44,000.
Project Managers who have years of experience behind them have the potential to earn upwards of £65,000, especially if they find a role in senior management. It is also worth remembering that project managers working in London often earn around 10% more than similarly qualified project managers across the rest of the country. Although, this is also where competition for jobs is most fierce.
What can I do if I don’t feel I am being paid enough?
If after reading this you don’t believe that you are being paid enough for your experience and past success, then you should begin to think about asking for a pay rise. However, there is no guarantee that one will be granted as there is always another project manager willing to step up, and the uncertainty of Brexit looming has many companies tightening their spending reins until the full effect of the UK leaving the EU can be gathered.
One way however, to help boost your prospect of a pay rise is to prove your worth through hard work and going the extra mile. Show your employer that you are a valuable asset and one which they want to keep hold of. You can further your skill and knowledge base by completing project management qualifications and courses which not only show your willingness to learn, but will also stand you in good stead for any upcoming promotions.
If you are not currently being paid what you believe you are worth then you should take the steps to prove to your employer that you deserve the money you are asking for. Obtain qualifications and be prepared to step up and show your leadership skills when any opportunity arises.