Project Manager is the in-demand role in India as well as global countries for top domains like Information Technology, Manufacturing, Finance, Construction, and Insurance. As per the recent survey from various job portals, there will be a constant need for project manager positions as the projection is around 70,00,000 for the next decade.
Top companies are looking for skilled professionals to lead the team in the Project Manager role. In this blog, we are going to explain how can you equip yourself for the project manager position along with its scope and salary.
India is the second-largest producer of Project Managers for global companies according to a recent survey. The primary reason is that the project manager salary is high and there are 27 million new project manager job openings that will be expected by 2027.
What is a Project Manager?
A Project Manager is a position that leads the ongoing project to ensure that every phase of the project has been completed as expected. The project manager is the one who serves as the catalyst of the project.
He / She is responsible for completing the various stages of projects on time and it includes planning for a budget, meeting deadlines, executing the plan, monitoring the project flow, controlling the resources, and deploying the project successfully. A project manager has sole responsibility for the failure or the success of project deployment.
Following are the primary works of a project manager.
- Fixing the deadline for a project
- Planning budget and resources
- Appointing skilled employees
- Managing the scope of a project
- Managing tasks and infrastructure
- Preparing materials and reports
- Identification and mitigation of potential tasks
- Validating the debugging process
- Finalizing the output and ensuring the expected quality
- Deploying the project to the end-users.
It is very important for a project manager should be competent to meet the requirements and goals of a specific project and they will be expected to have an effective and systematic approach to plan and manage the complete flow of the project with minimal or no errors. Their approach should be understandable to team members as well as the management.
Importance of pursuing a career as a project manager
The project manager’s salary is high and it is an important factor in equipping yourself to become a project manager. If you are passionate to become a project manager, you must learn to transform your plan or idea, or approach into a project and manage it from scratch to its successful completion.
It is very important to choose a particular field to make the best career as a project manager. Following are the reasons to prove that the project manager role will be best for you.
- High demand for project manager roles with lightning-fast increasing opportunities
- Almost every sector is assigned a project manager and you can showcase your skills in information technology, manufacturing, healthcare, marketing, fintech, and banking.
- Personal and professional growth is the promising factors and there are high chances of interacting with various kinds of people who have different cultures and language backgrounds
- Tremendous chances of acquiring skills that include risk assessment, fault analysis, and error management which are the parts of leadership qualities.
- Project managers can become CEOs of a company with plenty of experience.
Overview of a project management
Project management is the fervent process of managing a project from the consumption of a foundational idea through its completion. It includes various stages such as ideation, development, execution, debugging, and closure. It should also be comprised of team management, integration, collaboration, procurement, controlling, and risk management. The project can be simple as automating the manual operational process at a single department level of a company or a big collaboration level with clients, vendors, and stakeholders.
According to the requirements of end-users for the product, a project must have a particular deadline that addresses the needs completely. In simple words, project management is the discipline that assists companies achieves deadlines and particular needs through various processes. It is better to have an idea of how to become a project manager and it is as follows.
Eligibility to become a project manager?
The basic prerequisite to becoming a project manager is degree graduation in the desired field. You must have proficient with technical and job-related skills for the specific domain and it might be Information Technology, Healthcare, or Construction. It is better to improve your communication skills, leadership qualities, critical thinking, problem-solving skills, and team management skills to stand out from the queue. If you want to become a project manager, you must train yourself with the required career enhancement skills as it is not an overnight possibility.
Skills required for a project manager
Project management requires proper planning, direction, plotting, and completion. A project manager is responsible for overseeing and managing all of these processes and it requires years of experience, a specific skill set, and hard work as follows
- Decision-making strategies
- Negotiation skills
- Strong leadership
- Team management
- Risk management
- Work efficiently under pressure
- Broad and shared vision
- Communication skills
Project Manager Salary in India
The project manager can earn a good salary according to their experiences, location of a company, skillsets, certifications, and other important factors. Here are the project manager salaries in India for freshers and experienced professionals as per the report of Glassdoor.com.
Project Manager Salary for Freshers
The average salary range of a project manager in India is around ₹239,808 to 1,185,568 per annum. This is the net salary which is framed with basic pay, bonus, and commission for a project manager.
Project Manager Salary for Experienced
The annual average salary of a project manager if they have a minimum of experience and required skill sets are ₹488,306 to 1,818,675 per annum. If their experience is increased, they can earn around ₹715,980 to 3,629,905 per annum.
Project Manager Salaries based on the popular cities of India
|Project Manager Salary in Bangalore|
|Early-career project managers||₹634,380 PA|
|Experienced project managers||₹2,100,000 PA|
|Project Manager Salary in Hyderabad|
|Early-career project managers||₹608,748 PA|
|Experienced project managers||₹1,421,004 PA|
|Project Manager Salary in Pune|
|Freshers or early-stage project managers||₹552,912 PA|
|Experienced project managers||₹1,213,968 PA|
|Project Manager Salary in Delhi|
|Early-career project managers||₹404,520 PA|
|Experienced project managers||₹1,212,968 PA|
|Project Manager Salary in Mumbai|
|Entry-level project managers||₹710,808 PA|
|Experienced project managers||₹1,213,968 PA|
|Project Manager Salary in Chennai|
|Early-stage project managers||₹526,644 PA|
|Experienced project managers||₹1,458,396 PA|
Project Manager Salary in Global Countries
The geographical factor and size of the company are the important factors for project manager salaries in global countries.
- In Germany, the project manager’s salary is around €84,050 PA
- In the United States, the project manager’s salary is around ͅUS$72,400 PA
- In Switzerland, the project manager’s salary is around CHF133,057 PA
- In Australia, the project manager’s salary is around AU$134,658 PA
- In India, the project manager’s salary is around ₹1,947,744 PA
Project Manager Salary based on certifications
There are numerous certifications available for becoming a project manager in the job market that validates their skills and experience level and some of them are as follows
- Six Sigma Black Belt is the certification that brings possibilities for the project manager salary of around ₹1,193,000 PA in India.
- PRINCE2 is the certification that increases the project manager’s salary to ₹1,000,000 PA in India.
- Project Management Professional (PMP) is the certification that helps project managers earn around ₹2,000,000 PA in India.
Important factors for a high project manager salary
Following are the factors that bring a good salary for project managers
- Experience: Project managers can earn higher salaries when their experience is higher with field knowledge.
- Location: Top cities are different pay scales for project managers and it plays an important role in higher salaries.
- Sector and Company: Choosing the top companies is an important factor for the possibility of a higher project manager salary.
- Skills: It is very important to have sufficient skills that are expected by companies for earning the best project manager salary in India and other countries.
Major companies hiring project managers
Following are the popular and highly paying companies in India as well as worldwide.
A project manager is a well-established profile and it requires a set of skills and experience along with management skills. Learn how to handle projects for various domains of Information Technology by enrolling in our Software Training Courses offered by Softlogic. Register for a free demo class for learning any in-demand technology in our Software Training and Placement Institute in Chennai.