Always wondered what would it be like to have a career which is challenging yet high paying?
Well, if that thought has ever crossed your mind, then this blog is for you.
Ever wondered what is the average project manager salary in India?
A project manager is one of the most adventurous & lucrative professions which is much in demand these days.
As per a report by Economic times, India will require 70 lakh new project managers in next 10 years.
India will emerge as the fastest growing country in the world for project management-oriented employment, according to Project Management Institute's (PMI) report - Project Management Job Growth and Talent Gap 2017-2027.
Growth of project management majorly depends on expansion of various sectors such as manufacturing, construction, information technology & finance.
Who is a Project Manager?
A project manager is a one-point contact for the stakeholders to reach out to.
A project manager leads from the front in planning, executing, controlling & majorly monitoring the progress of a project.
Its the job of the project manager to ensure deadlines are met while the budgeting aspect is also kept under check.
A project manager is solely responsible for the success or failure of the projects at hand.
The accountability largely falls on his/her shoulders.
Allocating resources, implementing measures to clear any bottlenecks, timely completion of projects all come under the general job responsibility of a project manager.
What Qualifications Does a Project Manager Need?
The basic or minimum requirement you need to be a project manager is:
- A bachelor’s degree in any subject from a recognized university.
- Certification courses in project management.
- Master's degree in project management from a recognized university.
What is the Career Path of a Project Manager?
A project manager role is itself a senior-level role. The career path ahead of a project manager depends upon the level of experience & skill.
A typical career path of a project manager looks like this
A project executive is the first line of hierarchy in the career path of wanting to be a project manager.
A project executive usually provides day-to-day relevant data to the upper management to ensure a smooth flow of information.
A project executive also implements the agreed-upon strategies at various levels to reduce bottlenecks.
Here are some major responsibilities of a project executive:
- Communicating with higher management to ensure smooth flow of projects.
- Being a part of the team which develops long-term strategies & sets objectives.
- Helping in creating a budget for the project as advised.
- Recommending funding levels & a plan of spending during the project.
- Monitoring performance promptly.
- Implementing strategies at the grassroots level at various stages of the project to ensure success.
The average salary of a project executive in India is between 1.2 LPA to 9.2 LPA.
A project engineer primarily works on multiple aspects of a project simultaneously.
A project engineer looks after various operational aspects of a project.
Starting from allocation of resources to monitoring assigned engineering projects, a project engineer is majorly responsible for the overall control of major happenings in a project.
A major responsibility of a project engineer is drafting design blueprints & quality checks.
Here are some major responsibilities of a project engineer:
- Drafting design blueprints for the project.
- Scheduling, coordinating & monitoring various engineering-related projects.
- Overall setting of various parameters for measuring of success of a project.
- Assigning responsibilities to various employees working on the project.
- Budgeting, scheduling, planning at various stages of the project.
- Reviewing & communicating with stakeholders to ensure the progress is reported on a regular basis.
- Ensuring quality checks at various levels of the project.
The average salary of a project engineer in India is between 2.0 LPA to 9 LPA.
Here are some job responsibilities of a project analyst:
- Strategizing plans to avoid or remove any operational problems that may arise during the completion of the project.
- Predicting the challenges which can come to the forefront during the completion of the project.
- Providing amicable solutions to avoid work halts.
- Providing necessary information before starting a project.
The average salary of a project analyst in India is between 2.0 LPA to 13 LPA.
Senior Project Manager
A senior project manager is a higher management position that requires the overall management of the project.
A senior project manager delegates work amongst the workforce, overlooks the progress, sanctions budget & resources & supervises various departments to maximize efficiency.
The average salary of a senior project manager in India is between 6.1 LPA to 33 LPA.
A project director is the head of the project & no major decision can be made without the nod from the project director.
A project director has the power to hire or fire the workforce as per requirement & mostly does not need approvals to do so.
Majorly a project director works in close collaboration with investors & higher management presenting them the plans of the project, expected results, etc.
It's the director who is the face of the firm for the investors & in case of any assistance they reach out to the project director at once.
A project director liaisons with other departments to ensure the removal of every bottleneck or hurdle which might be expected during the completion of the project.
Supervision & allocation is majorly what a project director does to ensure smooth completion of any project in hand.
The average salary of a project director in India is between 6.1 LPA to 97.9 LPA.
Role & Responsibilities Of Project Manager
A project manager is the backbone of any project. This is because a project manager is wholely & solely responsible for the successful completion of the project.
The major responsibilities of a project manager are as follows:
- Planning, monitoring & decision-making at crucial times of the project.
- Communicating with employees, stakeholders on daily basis.
- Assigning responsibilities to a human resource as per their strengths & filling up any loopholes.
- Setting up a deadline & ensuring the pace of work is set as per the requirement.
- Controlling & efficiently allocating resources.
- Develop project plan & keep a track of progress on regular basis.
Scope of Being a Project Manager
The scope for project management is vast. According to a report published by the Project Management Institute (PMI), India is the fastest-growing market for Project Management-oriented employment.
An estimate shows that India would require more than 70 lakh project managers in the next 10 years.
Manufacturing, construction, IT, Insurance & finance, all these sectors are growing at an astounding rate, thus creating a need for project managers like never before.
Big market giants are now investing in big projects across the length & breadth of India, thus scope for project management jobs is not going to dry down anytime soon.
A skilled, highly experienced, certified project manager shall never get off demand.
Skilled professionals with the right experience backing them can expect at least double the entry-level salary.
What is the Salary of a Project Manager?
Project Manager salary in India ranges between ₹ 3.6 Lakhs to ₹ 25.0 Lakhs with an average annual salary of ₹ 12.8 Lakhs.
What is the Salary of a Project Manager Based on Location?
Here are the salaries of a project manager in the four major metropolitan cities of India:
Average salary of a project manager in Mumbai is INR 12.0 LPA.
Average salary of a project manager in New Delhi is INR 9.5 LPA.
Average salary of a project manager in Bangalore is INR 15.0 LPA.
Average salary of a project manager in Pune is INR 14.9 LPA.
The average salary of a project manager usually changes with changes in geographical locations.
The national average salary of a project manager in India is 12.8 LPA, however the average changes with change in cities.
This is because the cost of living, rents, etc differs with every city.
For example, rents in Mumbai are much higher compared to rent in New Delhi.
Hence, the average salary of a project manager in Mumbai is more than the salary in New Delhi.
What is the Salary of a Project Manager Based on Experience?
Average salary of a project manager can vary depending upon the years of professional experience.
Let's divide the experience levels in the following categories:
1. Average salary of a project manager for entry level experience (1-3 years) is INR 4.3 LPA
2. Average salary of a project manager with mid level experience (4-8 years) is INR 8.5 LPA
3. Average salary of a project manager with senior level experience (9+ years) is INR 10 LPA
What is the Salary of a Project Manager Based on the Company?
Every company has a different range of salaries which they offer to project managers.
This is majorly dependent on the number of projects or the complexity of projects.
Here is the range of salaries offered by various companies.
- Infosys: INR 16.8 LPA
- Tech Mahindra: INR 14.8 LPA
- Accenture: INR 18.2 LPA
- TCS: INR 13.8 LPA
- HCL: INR 14.4 LPA
- WIPRO: INR 14.7 LPA
Top Paying Companies for Project Managers
Here is a list of some top paying companies for project managers.
- Cognizant: INR 17.8 LPA
- Infosys: INR 16.8 LPA
- WIPRO: INR 14.7 LPA
- IBM: INR 14.5 LPA
- TCS: INR 13.8 LPA
Project management promises a successful career ahead as the rate of its growth is exponential.
The rate at which project management is growing shows positive signs all along.
We hope the above-published details shall prove to be quite helpful in helping you become a successful project manager.