Companies often manage multiple projects concurrently, and a project manager typically oversees several projects simultaneously. As a result, companies are increasingly offering competitive project manager salaries in India to attract skilled professionals.
Your project management career can thrive and advance if you possess the necessary skill set and stay updated with industry trends. This holds particularly true considering that a project manager’s salary in India is influenced by their level of skills and how well they stay informed. This article delves into comprehensive insights about project manager salaries in India, considering factors such as experience, location, and industry.
Project Manager Salary
What is Project Management?
Project Management involves overseeing a project from its initial concept to its completion. This could range from streamlining an internal process to collaborating on a new venture with clients, suppliers, and other stakeholders. The core stages of project management include developing ideas, crafting plans, putting plans into action, and ultimately closing the project.
Average Project Manager Salary In India
The salary of a project manager in India can be influenced by factors such as experience, location, and industry. Let’s explore the salary trends and discover the typical earnings for individuals in this role.
The average salary for a project manager in India stands at ₹13.5 LPA , mostly ranging from ₹4.5 lakhs to ₹25.3 lakhs. The Average In-hand salary ranges from ₹92,378 to ₹1,10,100 per month. This role requires expertise in some specific domain. If you meet the criteria with your skills and relevant experience. then you’ll find numerous high-paying companies, such as Google, Vector Consulting, BCG, Galfar, and ThoughtWorks, offering salaries that could reach up to 1 crore rupees.
Project Manager Salary Based on Experience
In most cases, as your experience as a project manager grows, so does your earning potential. Fortunately, the transition from experience to higher income is relatively quick.
According to many surveys, project manager salaries tend to rise with increasing years of experience.
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₹ 4.5 Lakhs
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₹ 2 Lakhs – ₹ 18.2 Lakhs
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₹ 10-12 Lakhs
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₹ 3.9 Lakhs – ₹ 16 Lakhs
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₹ 12-15 Lakhs
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₹ 5.4 Lakhs – ₹ 22 Lakhs
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₹ 20.4 Lakhs
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₹ 8.0 Lakhs- ₹ 29.6 Lakhs
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Project Manager Salary Based on Location
Considering the location for your project management career should also factor in the cost of living. Typically, cities offering higher salaries are accompanied by greater living costs. Your geographical choice can significantly influence your earnings in fields like project management and various other industries.
Here is a list of top cities along with the average salaries they offer to Project Managers.
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₹ 9.6 LPA
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₹ 12 LPA
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₹ 15.0 LPA
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₹ 15 LPA
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₹ 14.5 LPA
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Project Manager Salary Based on Industry
The Industry you decide to work in as a project manager can greatly influence your salary. Among the various fields where project managers are employed, some industries in India offer higher salaries, as indicated by the survey.
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₹ 16.0 Lakhs
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₹ 7.2 Lakhs
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₹ 13.8 Lakhs
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₹ 8.9 Lakhs
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₹ 16.0 Lakhs
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Project Manager Salary Based on Job Title
In your project management career journey, there are various roles to consider. These positions often align with your experience and seniority, which can also reflect in the typical salaries for each role.
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₹25.4 LPA
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₹15.97 LPA
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₹24 LPA
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₹42.79 LPA
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₹4.87 LPA
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₹4.94 LPA
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₹8.50 LPA
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Top Companies for Project Manager in India
Here is a list of top companies for Project Managers in India with their salaries offered.
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₹ 20.4 LPA
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₹ 16.1 LPA
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₹ 25 LPA
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₹ 14.9 LPA
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₹ 18.5 LPA
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₹ 14.1 LPA
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Project Manager Salary In Other Countries
Here is a list of the average salaries for Project Managers in different countries.
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$77174
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£4815
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$63000
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$128362
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¥95,00,000
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What Does a Project Manager Do?
A Project Manager’s role encompasses effective planning, team support, client satisfaction, risk evaluation, and meticulous documentation.
The Basic Responsibilities of a Project Manager are given below:
- Planning and Execution: The primary role of a Project Manager is to carefully plan, organize, and execute various ideas for different projects, ensuring they are completed on time and within the allocated budget.
- Team Support and Motivation: Project Managers play a vital role in fostering a positive and supportive team environment. Building trust and motivating team members contribute to a healthy work atmosphere.
- Client Satisfaction: Ensuring client satisfaction is a crucial duty of Project Managers. They work to understand and meet the client’s requirements, striving to deliver results that leave clients happy and content.
- Risk Assessment and Analysis: Project Managers assess the challenges and risks associated with a project. They analyze potential difficulties and outline key points to address during the project’s lifecycle.
- Reporting and Documentation: Project Managers handle the task of managing reports and documenting project-related activities. Proper documentation helps keep track of progress and ensures effective communication.
For a detailed understanding, refer to this article on the activities within the project management process.
Roles & Responsibilities of a Project Manager
Below, you’ll discover an in-depth breakdown of the responsibilities and duties expected from a Project Manager:
- Customer-Centric Approach: Prioritize providing outstanding customer experiences consistently.
- Creative Problem Solving: Develop and communicate project ideas effectively while planning, overseeing progress, and achieving milestones.
- Risk Management: Identify and minimize potential risks to project success.
- Issue Resolution: Address and resolve issues efficiently, escalating when necessary.
- Comprehensive Project Management: Handle scope, budget, timeline, resources, quality, and customer satisfaction.
- Remote Team Management: Efficiently manage teams, including those working remotely or offshore.
- Complex Services: Handle diverse project scopes involving multiple factors.
- Process Adherence: Stay updated on internal processes and maintain compliance.
- Sales Support: Assist during the sales cycle.
If you’re curious about the role and responsibilities of a Software Project Manager, this article is a must-read.
Qualification of a Project Manager
Certain important eligibility requirements must be met to qualify as a Project Manager. Here are the key criteria to consider:
- Educational Background: Aspiring Project Managers should have completed their Bachelor’s and Master’s degrees in Management or Business-related courses.
- Certification and Experience: It’s essential to possess professional certifications in Project Management in addition to a relevant amount of work experience.
- Notable Certification Courses: Some prominent certification courses to consider for a Project Manager role include Project Management Professional (PMP) and Certified Associate in Project Management (CAPM).
Top Skills Required for a Project Manager
To become a project manager, you’ll need a bachelor’s degree in your chosen field, like IT, construction, or healthcare. It’s also essential to have strong technical skills. Moreover, you should focus on enhancing critical thinking, communication, and leadership abilities. You can achieve this by participating in educational programs, practicing, and gaining experience.
- Critical Thinking
- Strong Leadership Skills
- Analytical Skills
- Creative Mindset
- Problem-Solving Skills
- Work Ethics
- Self Motivation Skills
- Communication & Negotiation Skills
- Accountability
- Monitoring & Controlling Budgets
- Time Management Skills
- Multitasking Skills
For more, you can refer to this article on 6 steps to become a project manager.
What are companies looking for when hiring a project manager?
Companies usually look for the following aspects when hiring a project manager:
- Able to create an outstanding customer experience every time
- Invent new ideas and effectively express them to others.
- Planning, communicating and handling project progress to ensure project milestones are met.
- Risk identification and mitigation.
- Deriving solutions for complex projects
- Manage scope, deadline, quality, resources, scope, budget, and customer satisfaction throughout the project.
- Supervise remote resources and offshore employees
- Thoroughly understand internal processes and adhere to them.
Why are Project Managers are highly paid?
Creating the project concept, forming and running several project groups, and finding problems and resolving them are why project managers are paid so well. Project managers pay with 1-4 years of experience can expect to make about annually ₹ 16.1 Lakhs.
Therefore, the longer you stay in the field, the greater results it will produce for you. It is a grueling task. Moreover, the responsibilities of work being completed within the time frame lie over you. You also have to control the finances while ensuring stakeholder happiness.
Project Manager Salary in India – FAQs
1. How Much Does a Project Manager(IT) Earn in India?
India’s average Project Manager(IT) salary is approximately Rs 1,490,532. The salary can be influenced by experience, location, job role, and skillset.
2. What Are Project Manager Salaries in Other Countries?
Project Managers in the U.S. earn around $88,545; in the UK, it’s approximately £38,225.
3. How Does Project Manager Salary Change with Experience in India?
Entry-level Project Managers(IT) earn about Rs. 490,819 per year. In mid-level positions, the average Project Manager(IT) salary is around Rs. 1,201,384 per year. Senior Project Managers(IT) earn over Rs. 1,659,957 per year.
4. What’s the Median Project Manager Salary?
The median salary calculated from existing salary profiles is approximately ₹18.0 lakhs per year.
5. What’s the Age Distribution Among Project Manager Employees?
About 35% of employees are aged between 31-36 years, while 32% fall in the age group of 36-41 years.
6. What Qualifications Do Project Manager Employees Have?
Among employees, 38% hold a Postgraduate degree, and 38% have a Graduate degree.
7. Which Schools Did Project Manager Employees Attend?
About 6% of employees studied at Mumbai University, and 4% attended Pune University.
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