Discover our data on the IT project manager salary in 2023. We provide accurate insights to help you navigate your career in the US.
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Quick Summary (US) Based On Glassdoor Data - 09/17/2023
In our blog post, the term "salary" refers to the base salary plus any additional pay, such as a bonus or commission.
Junior IT Project Manager Salary (average per year):
$110,000
IT Project Manager Salary (average per year):
$121,000
Senior IT Project Manager Salary (average per year):
$137,000
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Welcome to our 2023 guide on IT project manager salaries. With the evolving technological landscape, organizations are increasingly dependent on technology for operations, leading to a growing demand for IT project managers - and subsequently, their compensation.
This guide offers an in-depth look into the salaries of IT project managers this year. We'll delve into the role and significance of IT project managers, their primary duties, necessary qualifications, and skills.
Additionally, we will explore the salary range in the United States, factors affecting these salaries, current salary trends, and potential career growth for both technical and general project managers.
By the conclusion of this guide, you'll have a clear insight into IT project manager compensation for 2023. Let's dive in.
Importance of IT Project Managers in Organizations
An IT project manager oversees technology-related projects from inception to completion. Their primary role is to manage the planning, design, development, and implementation of technology solutions aligned with organizational needs.
Key responsibilities include ensuring projects stay within time, budget, and scope constraints while meeting quality standards. This demands a blend of leadership, communication, and problem-solving skills to effectively manage resources, address risks, and adapt to evolving challenges.
Collaborating with stakeholders, such as senior executives, business owners, vendors, and project teams, is crucial. The IT project manager ensures all parties are aligned and focused on shared objectives.
Regular monitoring of project progress and timely communication of status updates to stakeholders is essential, addressing any arising issues promptly.
In addition to conventional project management skills, an IT project manager should have a deep understanding of current technology and its organizational applications. Staying updated on tech trends and ensuring the organization harnesses technology to achieve its objectives is pivotal.
If you want to learn more about the role of an IT Project Manager, check out our blog post about this job title.
Factors Affecting IT Project Manager Salaries
As IT project managers have become increasingly crucial to the success of businesses in many sectors, the demand for their services continues to grow. The compensation for IT project managers has also been on the rise as a result of this demand. However, a range of factors affects how much an IT project manager can expect to earn, and these factors can vary widely based on the individual and their circumstances.
- 1Experience: One of the most significant determinants of an IT project manager's salary is their level of experience. Experienced IT project managers with a proven track record will commonly command higher salaries than those with less experience.
- 2Education: Education is another factor that impacts an IT project manager's salary. Individuals with advanced degrees or certifications in IT project management or a related field may be able to negotiate a higher salary.
- 3Industry: The industry the non-technical or technical project manager is working in can impact their salary. For example, those working in the technology sector may earn more than those in healthcare or education.
- 4Location: The location of the job can also impact an IT project manager's salary. Salaries can vary widely from region to region, with those in major cities generally earning more than those in rural areas.
- 5Size of the company: The size of the company an IT project manager works for can also influence their salary. Larger organizations may offer higher salaries than smaller ones.
- 6Certifications: Obtaining relevant certifications can also impact an IT project manager's salary. For example, a project manager with a PMP (Project Management Professional) certification may be able to negotiate a higher salary.
It is essential to consider these factors carefully when determining an IT project manager's salary or negotiating a salary increase. Understanding these factors can help IT project managers achieve a fair and competitive salary that reflects their skills, experience, and level of education.
Average Salary for Project Manager in 2023
At the mid-level, the average yearly salary for project managers ranges from $97,000 to $152,000 with an average salary (including average base salary + bonuses) of $121,000.
This is based on the latest data and projections from industry experts and job market analysts. While the salary range for IT project managers can vary depending on a number of factors, this average provides a good benchmark for what to expect in terms of compensation.
It's important to note that IT project managers may also be eligible for benefits such as health insurance, retirement plans, and bonuses or incentives based on performance. These factors can also impact overall compensation and should be considered when evaluating job offers or negotiating salaries.
According to recent IT project manager salary statistics, yearly salaries can range from around $89,000 for junior level positions to over $170,000 per year for senior-level roles. The exact salary for each IT project manager will depend on their specific level of experience, education, project management skills, soft skills, and other factors.
It's also worth noting that the demand for IT project managers is expected to remain high in the coming years, particularly as more businesses and organizations rely on technology and digital solutions to operate. This demand could lead to more competitive salaries and benefits for qualified IT project managers.
* last updated: 09/17/2023 - source of data: Glassdoor
Salary Comparison by Location for Mid-Level IT Project Managers
As we continue our guide on IT project manager salaries, it's important to recognize the significant role that location plays in determining these salaries. The cost of living and demand for IT professionals varies greatly depending on the region, resulting in regional salary differences for IT project managers.
West Coast
- 1California: The average yearly salary of a IT project manager in California is around $134,000, making it the highest paying state on the West Coast. The San Francisco Bay Area and Silicon Valley regions offer even higher salaries, ranging from $117,000 to $170,000 per year on average.
- 2Washington: IT project managers in Washington state can expect an average yearly salary of around $122,000 ranges from $98,000 to $152,000. Cities like Seattle and Bellevue tend to offer slightly higher salaries due to the presence of major tech companies.
East Coast
- 1North Carolina: The average yearly salary of an IT project manager in North Carolina is around $120,000 per year ranges from $96,000 to $152,000.
- 2Massachusetts: The average project manager salary in IT in Massachusetts is around $128,000 per year. The Boston area tends to offer higher salaries, with an average salary of $125,000 per year, ranges from $101,000 to $155,000.
Midwest
- 1Illinois: IT project managers in Illinois can expect an average yearly salary of around $119,000, ranges from $95,000 to $150,000. The Chicago area tends to offer slightly higher salaries due to the presence of major corporations.
- 2Texas: The average salary of an IT project manager in Texas is around $121,000, ranges from $96,000 to $152,000 Cities like Austin and Dallas offer slightly higher salaries due to their growing tech industries.
South
- 1Florida: IT project managers in Florida can expect an average yearly salary of around $113,000, ranges from $90,000 to $143,000. The Miami and Orlando areas tend to offer slightly higher salaries, from around $91,000 to $146,000.
- 2Georgia: The average IT project manager yearly salary in Georgia is around $121,000. The Atlanta area tends to offer slightly higher salaries due to the presence of major corporations.
As you can see, location plays a significant role in determining IT project manager salaries. While salaries tend to be higher in areas with a higher cost of living and a strong tech industry, it's important to also consider the overall job market and demand for IT professionals in that area.
* last updated: 09/17/2023 - source of data: Glassdoor
Salary Comparison by Industry for Mid-Level IT Project Managers
When it comes to IT project manager salaries, industry can play a significant role in determining how much you can expect to earn. Some industries simply pay more than others, based on factors such as demand, competition, and the complexity of projects.
- 1Technology: Unsurprisingly, the technology industry tends to pay some of the highest salaries for IT project managers. With high demand for technology solutions and a constant stream of innovation, tech companies are typically willing to pay a premium for qualified project managers. The average mid-level project manager salary in the technology industry in the United States ranges from $99,000 to $154,000 with an average salary of $123,000.
- 2Healthcare: The healthcare industry has also seen a rise in demand for technical project management expertise in recent years, particularly with the growing emphasis on electronic medical records and other digital solutions. Salaries for mid-level IT project managers in healthcare can vary widely based on the specific role and organization, but can range from around $98,000 to $151,000. The average salary here is $122,000.
- 3Finance: The finance industry is another sector where IT project managers can earn a good salary. With complex financial systems and regulatory requirements, project managers who can keep up with the fast-paced world of finance are often in high demand. In 2023, the average mid-level IT project manager salary in the finance industry in the United States ranges from $101,000 to $159,000 with an average salary of $126,000.
- 4Manufacturing: Although not typically associated with technology, the manufacturing industry is increasingly relying on IT solutions to streamline operations and improve efficiency. As a result, salaries for IT project managers in this industry have been on the rise. The average mid-level IT project manager salary in manufacturing ranges from $88,000 to $136,000 with an averave salary of $109,000.
It's important to note, however, that these are just averages and salaries can vary widely within each industry. Factors such as location, company size, and level of experience can all play a role in determining your salary as an IT project manager.
* last updated: 09/17/2023 - source of data: Glassdoor
Senior IT Project Manager Salary in the Financial Services sector
The fintech industry merges advanced technology with financial services, requiring precision, agility, and expertise. IT Project Managers in this domain are essential, seamlessly integrating innovative solutions while upholding regulatory and security standards. Their expertise extends beyond typical project management, encompassing areas like blockchain, AI-powered financial analytics, and digital payment systems.
A fintech-specialized IT Project Manager excels at handling challenges specific to this sector. For example, they might manage the launch of a decentralized finance (DeFi) platform or ensure regulatory compliance for a robo-advisory tool. Their proficiency encompasses not just technology but also the intricate landscape of financial regulations and market trends.
Years of Experience | Average Salary | 25th Percentile | 75th Percentile |
|---|---|---|---|
4-6 years | $127,000 | $106,000 | $152,000 |
7-9 years | $135,000 | $114,000 | $163,000 |
10-14 years | $148,000 | $124,000 | $178,000 |
15+ years | $160,000 | $134,000 | $193,000 |
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Career Growth Opportunities for IT Project Managers
As an IT project manager, there are numerous career growth opportunities available. The following are some advancement options:
- 1Senior Project Manager: After gaining considerable experience in managing complex projects and leading teams, one can advance to senior project manager roles. In this position, the individual will be responsible for overseeing multiple projects across the organization and dealing with complex stakeholder relationships.
- 2Program Manager: Program managers are responsible for managing multiple interrelated projects within an organization. They are accountable for the overall success of the program and provide strategic direction to ensure that individual projects align with broader organizational objectives.
- 3Portfolio Manager: The portfolio manager is responsible for managing a group of projects or programs to achieve a set of strategic objectives. In this position, an individual will be responsible for managing the budget, resource allocation, and aligning individual projects with the broader organizational objectives.
- 4Chief Information Officer (CIO): The CIO is responsible for the technology strategy of the organization and leads the IT department. IT project managers who possess strong leadership, strategic planning, and business acumen skills can advance to this position.
These career growth opportunities offer IT project managers a chance to advance their careers, take on greater responsibilities, and earn higher salaries.
Frequently Asked Questions
An IT project manager oversees IT projects within an organization. Their role involves planning, executing, and concluding projects, ensuring they're timely, within budget, and aligned with stakeholder goals. They can be categorized as either technical or non-technical project managers.
IT project managers are pivotal in organizations because they ensure the smooth execution of IT projects. They lead teams, manage resources, and liaise with stakeholders effectively. Their expertise and adept communication enhance project success and efficiency.
IT project managers are responsible for drafting project plans, setting scope and objectives, handling budgets, allocating resources, interfacing with stakeholders, addressing risks, and ensuring project outcomes are achieved.
IT project managers usually hold a bachelor's degree in computer science or information technology. Essential skills include robust leadership, communication, and organizational skills. Certifications like the Project Management Professional (PMP) further boost their qualifications.
IT project manager salaries can be affected by location, industry, experience level, certifications, and organization size. Each of these factors can shift the salary spectrum and its growth potential.
Salaries for IT project managers differ notably across locations due to the cost of living, IT professional demand, and local economic conditions. For instance, major urban areas typically offer higher salaries than rural regions.
Salaries for IT project managers can shift across industries. Sectors requiring niche IT expertise, like finance or healthcare, tend to provide higher salaries than those with less specialized IT project management needs.
As IT project managers gather experience, their salary potential rises. Those just starting out generally earn less than their counterparts with extensive experience and a history of successful project completion.
There's a growing demand for IT project managers adept in specific areas like cybersecurity or cloud computing. Also, proficiency in project management frameworks like Agile and Scrum is influencing salary scales. Mastery of these methodologies is increasingly crucial.
Numerous avenues exist for IT project managers, from ascending to roles like senior project manager or program manager to specializing within an industry or mastering emerging technologies to boost their career trajectory.
Please check out our other blog posts for salary information on other IT roles:
If you are interested in IT project manager jobs, please check out our IT job openings and IT projects.
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