The project management software industry is experiencing significant growth. Recent figures show the scope for this software rose at a CAGR of 11.5% between 2019 and 2023, and the global market is anticipated to grow at a moderate CAGR of 12.9% over the forecast period 2024 to 2034. Gone are the days of siloed expertise; today's organizations seek versatile technologists equipped with both technical competencies and leadership qualities.
Technical project managers are the perfect example of this combination; they lead their teams with expertise and precision. Increased demand translates into attractive compensation packages for technical project managers. But beyond the impact they make, their expertise often translates to competitive salaries. In this blog post, I will unpack the salary structure of Technical Project Managers, exploring how location, specific cities, and job roles can influence their earnings. Also, I will provide insights on how job roles within the Technical Project Management domain can impact earning potential.
Who is a Technical Project Manager?
A Technical Project Manager is a professional responsible for overseeing the planning, execution, and delivery of technical projects within an organization. They lead and oversee complex projects that involve significant technical aspects. They act as the liaison between technical teams, stakeholders, and clients, ensuring that project objectives are met within budget and schedule constraints. Technical Project Managers possess a combination of technical expertise and project management skills, allowing them to effectively coordinate resources, manage risks, and communicate project progress. They play a critical role in driving the success of complex technical initiatives, such as software development, IT infrastructure deployments, and engineering projects, by ensuring alignment with organizational goals and objectives. Investing in the Best Project Management training program can substantially elevate one's skills and career trajectory in this domain.
Technical Project Manager Salary in 2024
The salary of a technical manager in 2024 can vary widely depending on factors such as location, industry, company size, and level of experience. On average, a technical manager can expect to earn between $80,000 to $150,000 per year. However, in high-demand industries or regions with a higher cost of living, salaries can exceed this range.
Below is a table which depicts the average technical project manager salary per year, per month and per hour.
Technical Project Manager Salary | Average (USD) |
Per Year | $115,895 |
Per Month | $9,658 |
Per Hour | $46.91 |
Technical Project Manager Salary: Based on Experience
Technical project managers' salaries vary significantly based on their level of experience. Let us look at the tech project manager salary at each level of experience.
- Beginner: As a fresher with 0 to 1 years of work experience, the junior technical manager draws on an average a salary between $90,000 to $1,49,000. (Source: Glassdoor)
- Intermediate: The average salary of a mid-level technical project manager with work experience of 4 to 6 years is between $95,000 to $150,000. (Source: Glassdoor)
- Advanced: The average salary of a senior technical project manager with work experience of 7 to 9 years is on an average between $101,000 to $157,000. Source: Salary: Technical Project Manager in United States 2024 | Glassdoor
Technical Project Manager Salary: Based on Location
In the tables below, I have outlined the salaries of global technical managers in the top 5 cities of the top 6 countries. Additionally, I have also provided salary information for technical project managers employed at leading companies.
GlassdoorIndia Top Cities | Average Salary Range (per year) Source: Glassdoor |
Bangalore | ₹15,000 to ₹26,00,000 |
Gurgaon | ₹14,000 to ₹26,00,000 |
Hyderabad | ₹15,000 to ₹26,00,000 |
Pune | ₹15,000 to ₹28,00,000 |
Mumbai | ₹10,000 to ₹22,00,000 |
Chennai | ₹12,50,000 to ₹24,00,000 |
India Top Companies | Average Salary (per year) |
Tata Consultancy Services | ₹12,38,000 |
IBM | ₹18,00,000 |
Tech Mahindra | ₹14,00,000 |
Infosys | ₹16,50,000 |
Wipro | ₹16,15,000 |
HCLTech | ₹12,50,000 |
Source: Glassdoor
GlassdoorUS Top Cities | Average Salary Range (per year) Source: Glassdoor) |
New York City | $113,000 to $202,000 |
Los Angeles | $127,000 to $195,000 |
Chicago | $118,000 to $175,000 |
Philadelphia | $119,000 to $179,000 |
Boston | $126,000 to $186,000 |
Arizona | $114,000 to $169,000 |
US Top Companies | Average Salary (per year) |
Meta | $2,68,180 |
Google | $258,574 |
Apple | $2,47,300 |
Tesla | $2,14,624 |
Cisco Systems | $2,09,734 |
Microsoft | $2,09,495 |
Salary: Glassdoor
UK Top Cities | Average Salary (per year) (Source: Glassdoor) |
London | £45,000 to £69,000 |
Manchester | £41,000 to £60,000 |
Leeds | £33,000 to £50,000 |
York | £36,000 to £51,000 |
Glasgow | £42,000 to £63,000 |
UK Top Companies | Average Salary (per year) |
Chetu | £59,500 |
Nokia | £50,000 |
BBC | £52,040 |
BT Group | £55,000 |
Innovid | £51,070 |
Barclays | £40,750 |
Australia Top Cities | Average Salary (per year) |
Melbourne | A$99,000 to A$150,000 |
Perth | A$82,000 to A$120,000 |
Sydney | A$98,000 to A$150,000 |
Adelaide | A$86,000 to A$125,000 |
Brisbane | A$100,000 to A$158,000 |
Australia Top Companies | Average Salary (per year) |
Nokia | A$98,000 |
Menu log | A$100,500 |
CenITex | A$130,000 |
Met Life | A$180,000 |
Optus | A$160,000 |
blue Apache | A$95,000 |
Source: Glassdoor
Canada Top Cities | Average Salary (per year) Source: Glassdoor |
Toronto | C$79,000 to C$113,000 |
Vancouver | C$77,000 to C$115,000 |
Montreal | C$74,000 to C$99,000 |
Quebec City | C$70,000 to C$100,000 |
Calgary | C$82,000 to C$119,000 |
Canada Top Companies | Average Salary (per year) |
Boast Capital | $82,500 |
BlackBerry | $89,830 |
Schneider Electrical | $98,000 |
PointClickCare | $76,500 |
Geotab | $92,500 |
Demonware | $115,000 |
Singapore Top Companies | Average Salary (per month) |
Shopee | SGD 6,000 |
Circles | SGD 8,500 |
Nokia | SGD 9,000 |
Lazada | SGD 10,708 |
Bank of America | SGD 10,083 |
Ubisoft | SGD 10,917 |
Source: Glassdoor
Technical project manager Salary: Based on Job Roles
Below is a table depicting technical project manager salary range based on job roles:
Job Role | Average Salary Range (per year) Source: Glassdoor |
Junior Technical Project Manager | $104,000 to $170,000 |
Technical Project Manager | $125,000 to $190,000 |
Senior Technical Project Manager | $156,000 to $238,000 |
Director of Technical Projects | $175,000 to $277,000 |
VP Technical Projects | $271,000 to $466,000 |
Factors Affecting Technical project manager Salary
A project manager in tech salary is influenced by various factors, including location, industry, experience, demand and supply dynamics, credentials, and skills. By understanding these factors, professionals can make informed decisions to maximize their earning potential in the field of technical project management. Here's a breakdown of some key influences:
1. Location:
Location plays a significant role in determining a Technical Project Manager's salary due to variations in cost of living and demand for technical expertise. Metropolitan areas with a higher cost of living generally offer higher salaries compared to smaller towns or rural areas.
For example, the average annual salary for a Technical Project Manager in San Francisco might be $140,000, while in Des Moines, Iowa it could be closer to $100,000 (Source: Indeed).
2. Industry / Employer / Company:
The industry, specific employer, and company size can significantly influence salary. Certain industries, like technology or healthcare, often offer higher salaries compared to others. Additionally, larger or well-established companies typically have bigger budgets and can offer more competitive salaries than smaller companies. A Technical Project Manager working in the cutting-edge world of artificial intelligence might command a salary of $150,000, while Technical Project Manager in the healthcare sector could fetch a salary of $130,000, (Source: Glassdoor).
3. Experience:
Experience is a major factor influencing salary. As Technical Project Managers gain experience and expertise, their value to an organization increases, leading to higher earning potential. Junior Technical Project Manager salary with 2-3 years of experience could be around $80,000, while mid-level ones with 5-7 years of experience could earn $110,000. Senior-level Technical Project Manager salary with extensive experience could exceeding $140,000 (Source: Salary.com).
4. Demand and Supply:
Similar to other professions, supply and demand play a role. If there's a high demand for Technical Project Managers with specific skills and experience in a particular location or industry, and the supply of qualified candidates is limited, salaries tend to be higher. Conversely, an abundance of qualified candidates in an area may lead to lower salaries due to competition. This factor is dynamic and can fluctuate based on current economic trends and specific industry needs. Researching job postings and salary trends in your desired location and industry can provide valuable insights.
5. Credentials / Certifications:
Obtaining relevant credentials or certifications in project management, such as Project Management Professional (PMP) certification, Agile certifications (e.g., Certified ScrumMaster), or industry-specific certifications, can significantly impact a Technical Project Manager's salary. Employers often value these certifications as they demonstrate a commitment to professional development and a high level of expertise in project management methodologies.
6. Skills:
Beyond technical skills like software development, engineering principles, and project management methodologies, soft skills like communication, leadership, problem-solving, and stakeholder management are crucial for Technical Project Managers. Possessing a well-rounded skillset can improve your marketability and potentially lead to higher salary offers. It's challenging to quantify the precise impact of specific skills on salary. However, showcasing strong skills and demonstrating their application during the interview process can significantly improve your chances of securing a higher salary. Consider enrolling in a Online Project Management professional course to further hone your abilities and stand out in the competitive landscape of technical project management.
How to Improve Technical project manager Salary?
Improving a Technical Project Manager's salary can be achieved through a combination of enhancing skills, obtaining certifications, pursuing advanced degrees, and accumulating relevant experience:
1. Skills Enhancement: Continuously improving essential skills such as project management, communication, leadership, and technical expertise is crucial for enhancing marketability and salary potential. Technical Project Managers should stay updated with emerging technologies, project management methodologies, and industry best practices to remain competitive in the job market.
2. Certifications: Obtaining industry-recognized certifications in project management, such as Project Management Professional (PMP), Certified ScrumMaster (CSM), or PRINCE2, can significantly enhance a Technical Project Manager's credentials and salary potential. Employers often value these certifications as they demonstrate proficiency in project management methodologies and a commitment to professional development. Enrolling in certification courses such as PRINCE2 training program will help you gain the necessary skills to acquire these globally recognized certifications and further solidify your expertise in project management.
3. Degrees: Pursuing advanced degrees related to project management, such as a Master's in Project Management or an MBA with a focus on technology management, can open doors to higher-paying positions and leadership roles. Advanced degrees provide a deeper understanding of project management principles, strategic planning, and leadership, making individuals more competitive in the job market.
4. Experience: Accumulating relevant experience in managing technical projects is essential for career advancement and salary growth. Technical Project Managers should seek opportunities to lead diverse projects, demonstrate their ability to deliver results, and take on increasing levels of responsibility. As they gain more experience and demonstrate their expertise, they become more valuable assets to their organizations, thereby justifying higher salaries.
By focusing on skills enhancement, obtaining certifications, pursuing advanced degrees, and accumulating relevant experience through training programs like Knowledhgehut's Project Management certification, Technical Project Managers can position themselves for career advancement and salary growth in the dynamic field of project management.
Why are Technical project manager paid so much?
Technical project managers command high salaries for several key reasons:
- Unique skillset: They possess a rare blend of deep technical expertise in their specific industry and strong project management skills. They can translate technical needs into actionable plans and manage complex projects with efficiency.
- Strategic decision-making: Their decisions significantly impact project outcomes and can influence an organization's financial success and technological advancements. They manage risks, allocate resources effectively, and ensure projects align with strategic goals.
- High demand, limited supply: The demand for skilled and experienced technical project managers often exceeds the available talent pool, particularly in specific industries or for specialized projects. This limited supply drives up salaries to attract and retain qualified individuals.
- Leadership and problem-solving: They effectively lead and motivate diverse teams, navigate complex challenges, and find solutions to unforeseen issues that arise during project execution. This leadership and problem-solving expertise are highly valuable.
Conclusion
To summarize, the salary of Technical Project Managers reflects the critical role they play in driving the success of technical projects within organizations. As companies undergo rapid digital changes, the need for skilled Technical Project Managers grows, resulting in attractive compensation packages that value their expertise and contributions. Factors such as location, industry, experience, and certifications influence salary levels, with opportunities for additional compensation through bonuses and incentives. As the job outlook remains positive and companies continue to invest in technology-driven initiatives, the salary prospects for Technical Project Managers are expected to remain strong, making it a rewarding career path for those with the requisite skills and qualifications. So, are you ready to become a highly sought-after professional? Improve your skills, follow your passion for technology, and start a rewarding career as a Technical Project Manager.
![Technical Project Manager Salary In 2024 [For Freshers & Experienced]](/_next/image?url=https%3A%2F%2Fd2o2utebsixu4k.cloudfront.net%2Fmedia%2Fimages%2F6e60b8b8-ceeb-4b8a-8cfb-a39d1e3c5df2.png&w=1920&q=75)
.png&w=3840&q=75)
.png&w=3840&q=75)
