Project Manager Salary Trends in India
Whether an organization wants to make a new building, organize a conference, or build software, it needs an expert to manage its project. This expert is responsible for creating a thorough action plan, finding the potential constraints and risks involved, overseeing resources and teams, and getting the project to successful completion. This professional is known as a project manager.
A project manager leads teams, control and monitor projects, and handle the whole project life cycle. So, every business wants a skilled and experienced project manager to manage and handle the project development procedure. Businesses have many projects running simultaneously. A project manager is an expert at handling all of them together. Due to this, organizations are ready to offer higher salaries to project managers in India. Hence, if you have pursued the best project management courses online and have the skills, your project manager career can keep growing.
Check out all about trending project manager salaries in India. Let us begin by answering this question:
Who is a Project Manager?
A project manager leads a project and is accountable for making sure that every phase of the project meets its goals. They define the main goals, scope, and purpose of the project, lead the teams, make a plan for project development, and monitor every aspect of the project to its final closure. In other words, it is the project manager who is held accountable for the failure or success of a project.
The responsibilities of project managers include:
- Evaluate and mitigate the risks involved to allow flawless completion of a project.
- Define the scope, goal, resource allocation, and procurement.
- Establish project phases and set timeframes for its completion.
- Sharing reports with clients and teams
- Coordinate with the teams, clients, and seniors to guarantee project satisfaction.
You are here because you are a project manager currently or want to pursue this career. Either way, you should know that a project manager is responsible for managing and overseeing a project to guarantee its successful delivery within a set budget, deadline, and scope. The biggest challenge for a project manager is to balance the time, quality, and cost to maintain the project’s scope. Managing a project involves achieving the project’s goals by implementing processes, methods, experience, and knowledge. A project manager is also expected to have systematic and efficient approaches to managing and scheduling projects.
Also, Read: Steps to a Smart Project Schedule
Project Manager Salary In India
A project manager’s salary in India depends largely on the domain. It may differ on many factors like location, industry, and experience. As per the current salary trends of the project manager in India, their salaries range between 5 Lacs and 25 lacs per annum.
Factors That Affect The Salary of a Project Manager
A project manager has many roles and responsibilities that play a vital role in deciding their salary:
The area where the project manager works is the most vital factor that affects their salary. Salaries can differ from one country to another.
Project managers work in various industries, and thus, their salaries differ from one industry to the other.
Based on the business, a project manager can have different responsibilities. They may need to manage larger teams and complexities. Often, their salary reflects these differences.
Earning a relevant degree or certification can also increase one’s salary. Most companies need a bachelor’s degree in project management, business administration, or any industry-related field. However, you can get more salary if you have degree-level certificates.
Project managers are in demand these days, which makes it a highly-paid profession. If you want to pursue a career as a project manager, it is the right time now. If you want a job as a project manager, prepare yourself well for project management interview questions and get a good salary.