Healthcare project managers specialize in coordinating healthcare programs and their operations. Sometimes, they may have the titles of healthcare executives or administrators. The BLS reports that management analysts (a catchall term for change management consultants) make an annual median wage of $93,000 across all sectors.

The average income ranges between $61,000 and $135,000 per year, with the average salary being about $94,774 a year. Project managers are essential in successfully completing projects on time and on budget. Since they possess the ability to plan, organize, and lead teams—along with effective communication and problem-solving skills—they are invaluable to all industries and sectors. As a result, the demand for project managers is expected to rise as organizations recognize their value.

Project Team Size

A good combination of education, skills, and experience will help you achieve a higher pay scale. You can get into technical project management by having an in-depth understanding of software development, computer project manager course programming, and mathematics. In addition to this, a good knowledge of Management Information Systems (MIS) is also needed. It is also important to have industry-specific experience to develop the required skills.

Because information technology (IT) projects will only become more complex over the next few years, more project managers must manage this workload. Becoming a project manager is a lucrative career path, but it may not be the right fit for everyone. Most project managers excel in the following areas or have spent years developing the skill sets necessary to thrive.

Project Management Salaries by Specialization

Most project executives manage teams of people and are points of escalation for conflicts between project managers and other stakeholders. For their experience and skill, project executives can expect to make a nationwide median annual wage of $158,226. There are several routes to a bigger payday, but most of them involve making sure the work you do and value you bring is visible, beginning with having the right mix of skills. The salary of a technical project manager depends on many aspects such as level of education, location of the job, team size, PMP certification, and area of specialization.

Project management requires the ability to communicate with others well. They must share project deadlines, timelines, expectations and job requirements in a way that stakeholders can understand. Because these conversations can happen in writing and over the phone, strong written and verbal communication is a necessity. The average salary for this role in the United States is $78,723, based on recent data from Salary.com. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.

Career Info

A PMP certification is often preferred or recognized for promotions and career advancement. The certification is earned through the Project Management Institute,  a globally-recognized association that promotes collaboration, education, and research within project management. The organization also maintains international certification standards, credentialing, policies, and procedures. They determine who needs to accomplish each part of a task and give them as many tools as possible.

Project managers also make up to 40 percent more if they are managing initiatives with budgets exceeding $10 million. Project Management has become a popular job around the world, and not just because of the healthy paycheck.

Skills that affect Project Manager salaries in Boston

An online project management course aimed at helping you launch a career. One-on-one mentorship, professional guidance, and a robust community network are on hand to help you succeed in Project Management. A large chunk of the project management process is promptly solving problems. They should also be able to proactively identify potential issues (and viable solutions) before they arise. Change management describes a unique method of reorganizing a company’s assets, workforce or processes to reach a specific goal. Private equity and consulting firms such as Bain & Company and Prosci are proponents of change management and often employ consultants to spearhead those efforts.

• A strong graduate program can equip you with the specialized skills and hands-on experience you need to lead complex projects and advance your career.
• Northeastern’s Master of Science in Project Management embodies all of these features, making it a popular choice for professionals seeking to advance their career in project management.
• Healthcare project managers may spearhead priorities such as data retention and digital health records.
• They determine who needs to accomplish each part of a task and give them as many tools as possible.

For their experience and knowledge, project directors enjoy a wide pay scale. Allowing for variations in the size and scope of organizations, the median annual salary for this position sits at $167,409. Even more compelling, however, is that 34 percent of all project management jobs now prefer or require a graduate degree, according to a report by Burning Glass Labor Insight. Earning a master’s degree in project management will not only increase your salary but also your marketability. A strong graduate program can equip you with the specialized skills and hands-on experience you need to lead complex projects and advance your career.

Project managers describe the people in charge of ensuring project completion, team member alignment and client satisfaction. Learn what you need to know, from in-demand skills to the industry’s growing job opportunities. In the process of documenting your own performance, you may decide your case for a salary raise isn’t quite ready. Experts suggest concrete steps to elevate your profile and help make the case for an internal raise or a new job with a bigger salary. Depending on the avenue you want to go down, you should consider specializing in its most relevant methodology.

It’s also a common trend for software engineers and developers to transition to the project management domain after getting a few years of hands-on experience. So, basically, no matter where you’re currently at in your career, there’s room for you in the field of project management. Let’s talk a bit more about the basics of project management, and then we’ll dive into the good stuff—project management salaries. Project management offers fantastic benefits to those who can thrive.

How to Maximize Your Career Potential

Your boss, and their bosses, are the people you have to make recognize that value. I find it hard to believe that someone with a bachelor’s degree and 3 years of experience can become a senior PM and rake in 6 figures like that. Mark contributions as unhelpful if you find them irrelevant or not valuable to the article.