June 28, 2019
THE REAL TRUTH ABOUT PM COMPENSATION IN 2019
For most technical professionals who strive for management responsibilities, the ultimate goal is to become a project manager. Tasked with managing and completing firm projects, some PMs move on to become Senior PMs and take on greater responsibilities such as business development and contract negotiations.
When deciding whether to pursue a PM career, many professional often wondering how much PMs and Senior PMs earn. According to the latest data from PSMJ’s 2019 A/E Management Compensation Benchmark Survey Report, the overall total compensation for project managers is over $98K. And the total compensation for senior project managers is over $122K.
If we look back at what PMs earned four years ago, their total compensation has increased. Both PMs and Senior PMs now earn 14 percent more than they did in 2015. And compensation has steadily increased since 2009:
The following are more facts about PM compensation in 2019 from PSMJ research:
- Senior PMs enjoy bonuses that, on average, are eight percent of their salary
- PMs have nearly doubled their bonuses as a percentage of salary since 2015
- Only about 10 percent of PMs and Senior PMs didn’t receive a bonus last year
- On average, PMs received raises of between three to five percent last year