The Indian employment market is booming, and project managers are one of the most sought-after professionals in the country. With the demand for project managers increasing, it is no surprise that salaries are going up as well. In this article, we will take a look at the current salary trends for project managers in India and how you can make the most of the opportunities available.
The project management landscape in India is rapidly evolving. Companies are investing heavily in projects and are looking for experienced professionals who can lead them to success. As a result, the demand for project managers has increased significantly, and salaries have gone up accordingly. According to a study conducted by PayScale, the average salary of a project manager in India is around Rs. 8.16 lakhs per annum. This is a significant increase from the previous year, which saw the average salary for project managers being Rs. 7.13 lakhs per annum.
In terms of experience, the study revealed that project managers with more than fifteen years of experience have the highest average salaries, at around Rs. 10.9 lakhs per annum. This is followed by those with ten to fifteen years of experience, whose average salaries stand at Rs. 9.53 lakhs per annum. Those with five to ten years of experience have an average salary of Rs. 8.26 lakhs per annum, while those with less than five years of experience have an average salary of Rs. 7.13 lakhs per annum.
The study also revealed that the highest salaries can be earned by project managers who possess technical and consulting skills. These include knowledge of software development, system engineering, business process reengineering, and other related technical skills. Those with these skills can expect to earn an average salary of Rs. 11.86 lakhs per annum.
Location also plays a key role in determining salary levels. According to the study, project managers who are based in the metropolitan cities tend to earn higher salaries than those in other parts of India. In Delhi, for instance, the average salary of a project manager is Rs. 10.89 lakhs per annum. Similarly, project managers in Bangalore and Mumbai also tend to earn higher salaries than those elsewhere in the country.
It is important to note that the salary of a project manager is not just dependent on experience and location. Companies also consider various other factors such as the project size, complexity, duration, and budget. Based on these factors, the salaries of project managers can vary significantly.
In conclusion, the salary of a project manager in India is constantly on the rise. This is due to the increasing demand for experienced professionals and the availability of lucrative roles in the country. As a project manager, you should make the most of these opportunities by honing your skills and gaining experience. With the right approach, you can command a higher salary and enjoy a prosperous career in this field.