Wondering what is the range of Project Manager Salary in India?
Every company wants to have a well-skilled project manager to handle and manage their project development process. Companies usually have multiple programs running simultaneously, and a project manager usually is in charge of more than one project. Because of this reason, companies are not shying away from offering increased project manager salary in India.
Thus, if you have the required skillset and are ready to keep yourself updated, your career as a project manager is expected to keep growing onwards and upwards. This line stands true especially when we consider that a project manager salary in India is directly or indirectly dependent on how upskilled and updated they are.
Hence, the skills to manage a project and multiple teams are a core skill required. The salary received by the manager will depend on the type, scale, and the number of projects managed. Let’s know in detail about the Project Manager salary in India.
What is Project Management?
The process that involves managing a project from idea to completion is project management. It could be something as simple as automating an operational process at a department level, or it could involve a new project in collaboration with clients, vendors, and other stakeholders. The main processes are ideation, creation, execution, and closure. It will include planning, team management, procurement, integration, controlling, and risk assessment.
Depending on the product to be delivered, a project has a specified time frame within which it is initiated and completed. In contrast to a product that evolves with customer needs, a project carries a clear definition of what needs to be delivered. Because of the demand, project manager salary in India is one of the highest.
Who is a Project Manager?
The person who leads the project and is responsible for ensuring each phase meets its objective is the project manager. They are involved in defining the main objectives, purpose and scope of the project, creating an integrated plan for development, leading the team during the execution stage, monitoring each and every aspect of a project to the final closing and review of the project.
And in the end, the project manager is the person held responsible for the success or failure of a project.
If you are here, then either you are an existing Project Manager, or you are looking to pursue this field for your future. Either way, let’s take a look at the salaries you can expect.
Project managers are responsible for overseeing and managing product development to ensure successful product delivery within a fixed scope, budget, and deadline. Balancing cost, time, and quality to maintain the scope of the project is the biggest challenge a project manager faces. Their roles include:
- Timely identification and mitigation of potential risks
- Setting deadlines, budgets and appointing employees
- Managing the scope of the project, tasks, infrastructure, materials, and reports
- Learn more about the roles and responsibilities of product managers.
Project management involves the achievement of the goals of a specific project by implementing methods, processes, knowledge, and experience. Project managers require technical expertise in particular disciplines and have sector-relevant backgrounds.
Projects have pre-defined targets, and managers should be competent to meet the goals. Also, project managers are expected to have an efficient and systematic approach to scheduling and managing the project.
Project Manager Salary in India
India is working for the tag of a superpower in the world. It needs to establish itself as a safe haven for different industries. MNCs coming here are convinced that India has the talent to lead its projects. Hence, many are now setting up warehouses, production units and call centers in the country. Today, existing project managers are busy improving their current skill sets and freshers are looking to learn and grow.
The Growing Demand for Project Managers in India
According to economic times, the project management profession is likely to outperform the total global job growth over the coming years, creating a lot of new job opportunities with highly-competitive pay for the position. According to the Project Management Institute’s (PMI) report, India will need almost 7,000,000 new project managers in the next 10 years to look after the growing industry needs in the nation.
Sectors like construction and manufacturing, information technology and finance and insurance require skilled project managers. The demand for these managers is always high. The list is endless. That’s the primary reason project manager salary in India is quite high. The ever increasing demand.
Going by the reports, by 2027, India will be the second-largest producer of project management-oriented jobs in the world, second only to China. At a global level, 22 million new project management job openings are expected by 2027.
First, let us look at the opportunities open to project managers in India. A simple LinkedIn search can land you on more than 7000 job opportunities for a Project Manager in India, and that too from reputed firms like IBM and Kotak Mahindra Bank.
On Naukri.com, there is more than 70000 project manager related job openings from different firms in India. Out of these, almost 15000 are from the capital region of Delhi/NCR region, followed by 12000 each from Mumbai and Bangalore. The pane shows about 50600 results. There are ample opportunities for people with the right skill sets and experience. So, there are opportunities galore for project manager, and the indispensable nature of their jobs ensures that project manager salary in India is quite elevated.
Let us look at the most important aspect – the Project Manager Salary in India. How much can you earn if you enter this field?
The Median Project Manager Salary in India
According to Glassdoor, the average project manager salary in India is around Rs 14,00,000. For comparison, the average salary for a software developer in India is only around Rs 5,00,000. So, being a project manager could you fetch almost three times more income than your software developer counterparts!
Factors Affecting Project Manager Salary in India
The four main factors affecting the Project Manager Salary in India are:
- Sector & Company– In most job profiles, the company you choose to work for affects the final salary. For a project manager, the sector they choose to work for will also have a bigger impact on the final salary. Also, the bigger the brand or company, the higher is the salary you can expect.
- Experience – Managers with more experience will earn a higher salary when compared to persons who are managing their first projects.
- Location – Location has a high impact on the salary of a project manager. A job in a city known for its information technology infrastructure will pay a higher salary in comparison to a job in a smaller city.
- Skills – The important skills you have, the better is the ability to understand. Location is all set to play a vital role in deciding project manager salary in India
Project Manager Salary in India: Based On Sector & Company
Earnings of a project manager depend upon the domain. For example, according to PayScale, the average salary for a construction Project manager is near Rs. 1,00,000.
IT Project Managers handling complex software projects for big IT firms can earn close to Rs 15,00,000 per year which is an excellent salary.
Your salary will also depend on the company you are working in. Normally, tech giants Amazon, Microsoft, Google, and Goldman Sachs pay more than average. But getting into these can be quite challenging as they generally have a rigorous recruitment process and tend to require higher aptitude and problem-solving skills than average.
List of top recruiters based on their pay:
Capgemini, Cognizant & Accenture offers about Rs. 2,000,000 per annum as salary. It is followed by HCL, Infosys & Wipro at Rs. 1,000,000 per annum.
Project Manager Salary in India: Based On Location
Also, the amount in your paycheck may also depend on your location. Location plays a vital role in determining project manager salary in India. For example, the salary for an IT project manager in India can be more than Rs 20,00,000 per annum. The image below shows that most of the bigger cities in India offer a salary higher than the national average.
The image below shows that a person in the IT hub Bangalore can earn about Rs 2,100,000 per annum.
It is around Rs 14,50,000 in both Hyderabad and Delhi for the same role.
Project Manager Salary in India: Based On Experience
The more experience you have the higher your pay package will be. So, if you are a beginner and have only recently entered the industry, you will have to moderate your hopes accordingly. So, let us break down Project Manager salary in India, depending on how many years of experience you have in your bag –
Let’s see how a project manager’s salary in India varies based on experience.
Entry-Level Project Manager Salary in India
The average entry-level project manager salary in India is ₹490,819
Mid-Level Project Manager Salary in India
The average mid-level project manager salary in India is ₹1,201,384
Experienced Project Manager Salary in India
The average experienced project manager salary in India is ₹1,659,957
Experience plays a major role in the project management field, or any field for that matter. Project managers with an experience of around 1-4 years can earn around Rs 6,20,000. A project manager with 10-19 years of experience can earn an astounding Rs 20,00,000 per annum on an average.
So the more time you spend in the industry, the better fruits it will yield for you.
Project Manager Salary in India: Based on Skillset
A project manager is responsible for planning, organizing, and directing the completion of certain projects within pre-defined timelines and budgets.
Project management and agile software development skills are getting more responses for the important skills which can take your salary higher.
Project Manager Salary on Other Countries
Project Managers salary in The US: $88,545
Project Managers salary is The UK: £38,225
What are the companies looking for?
The broad scope of the requirements are listed below
- Passionately customer-focused and is relentless about providing an excellent customer experience every time
- Have an ability to ideate and communicate the requirement. Plan, communicate and manage the progress of projects, maintaining project momentum, and achieving project milestones.
- Identify and effectively mitigate risks
- Facilitate resolution of issues and roadblocks, escalate when appropriate
- Management of scope, budget, timeline, resources, quality and customer satisfaction throughout the project
- Manage remote resources in a matrix environment, including offshore resources
- Deliver a diverse scope of services where project management requires an analysis of numerous factors
- Maintain up-to-date knowledge of and compliance with internal processes and procedures
- Support the Sales cycle
What do you need?
A graduate degree in the chosen field is most important. Good technical skills in the field, for example – IT, construction, or healthcare. In addition to these, you have to develop and sharpen critical thinking, communication, and leadership qualities. You can develop these through education programs, practice, and experience.
Why should you become a Project Manager?
It is but natural to be attracted to the high salary that a project manager can earn. But, to succeed, you need to have a passion for driving a project from inception to closure. As is mentioned above, you can develop the skills but you should be clear on why you want to pursue the field.
Let us understand why you can pursue this field:
- Project managers are high in demand and the demand is set to increase. It means a good project manager can pick and choose projects that suit them.
- A variety of fields requires project managers, so you will have a chance to work in a field that is of interest to you. Some of the sectors that you can explore are Infrastructure, IT, Healthcare, Manufacturing, Telecom, Oil, and gas, etc.
- The learning curve allows for constant professional growth. You will interact with different perspectives across cultures and sensibilities. It will also help with personal growth.
- You build your risk assessment and management skills. These are the skills that are essential for leadership roles. Most CEOs are experienced and applauded project managers. To make your career to grow as a product manager and earn the highest possible project manager salary in India, you need to have update yourself required skills.
Learn more: Product Manager Interview Questions & Answers
Other Related Job Profiles
As per PayScale, there are some related jobs to a Project manager, so let’s see how they stand with respect to our discussion so far by looking at the salary.
- Team Leader, IT can earn between Rs 5,86,000 to Rs 20,00,000 per annum.
- IT Consultants can earn between Rs 3,89,000 to Rs 20,00,000 per annum.
- Operations Manager can earn between Rs 3,00,000 to Rs 20,00,000 per annum.
- Associate Software Engineer can earn between Rs 2,36,000 to Rs 10,00,000 per annum.
Project Management is a firmly established field that shows no sign of diminishing in demand or popularity. With every company coming up with new ideas every day, handling and managing those ideas would require some great minds. Turning an idea into a reality successfully lies in the hands of a Project Manager, and we hope you are ready to do it!
We hope you liked our article on Project manager salary in India. These numbers above are not set in stone. The real influencer of your salary is the skills you have, the mastery you have attained over them, and how quickly you grow and make the company grow as well.
In conclusion, both form a sturdy pair, ensuring the long-term success of a company. If you’re interested to become a great product manager, you need to demonstrate qualities of leadership, check out the Product Management Certification Program for it is you who’ll guide your team towards the path of success
What is the salary of a Project Manager(IT) in India?
The average salary for a Project Manager(IT) in India is approximately Rs 1,490,532.Factors affecting Project Manager Salary in India are experience, location, job role, and skillset.
Project Manager Salary in other Countries ?
Project Managers Salary in U.S is around $88,545 and in UK is£38,225.
How Project Manager Salary in India changes with experience?
Entry-level Project Manager(IT) earns around Rs. 490,819 per annum. When he goes to mid-level, the average Project Manager(IT) salary is Rs.1,201,384. per annum. Senior Project Managers(IT) earns more than Rs.1,659,957 per annum.