Project Manager Salaries In The UK: Influencing Factors And Career Insights

Project managers play a crucial role in many organisations, overseeing projects from the beginning to completion. Project managers have a high demand in the UK. They have required and compulsory positions in many industries like construction, IT, finance, insurance, energy, healthcare, and digital marketing. These experts have a varied salary range depending on various factors like role, area, industry, etc. It can range to £56,666.86 per annum. This demand is expected to grow immensely by 2027, with an estimated need for 88 million project management professionals. However, this growth also leads to increased competition. Hence, understanding salary expectations and trends is necessary for project managers in order to enhance negotiations, plan career growth, and make informed decisions about job opportunities. 

This article provides an in-depth analysis of project manager salaries in the UK, exploring the key factors that influence pay rates.

Table Of Contents

• Introduction To Project Manager Salary

• How Much Do Project Managers Make In the UK?

• Project Manager Salary By Region

• Project Manager Salary By Industry

• Project Manager Salary By Experience Level

• Project Manager Salary By Education And Certification

• Project Manager Salary By Job Role And Responsibilities

• Conclusion

• Frequently Asked Questions (FAQs)

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How Much Do Project Managers Make In the UK?

The average salary of a project manager in the UK is constantly changing and developing. Even after inflation in living expenses, project management continues to be in demand, with 65% of working professionals seeing a salary increase in 2022. High earners (more than £70,000) have seen a hike of 2%, and beginner-level salaries have gone up by 11%. 

Although freelancers, consultants, and the self-employed saw their average salary decrease from £72,500 to £62,500 in 2021, those in permanent and temporary positions experienced a 5% salary increase. Survey information indicates that project managers earn an average salary of $89,923 USD in the USA, $85,004 CAD in Canada, and £48,462 in the UK.

Project Manager Salary By Region

Salaries for project managers differ greatly depending on the location. Location is one of the factors impacting project manager salary anywhere around the world. They are also influenced by various factors like economic conditions and the standard of living in different regions. Average salaries in the East of England, Northern Ireland, South West of England, and Yorkshire and the Humber have increased by £5,000 in the UK, with the East Midlands and North East seeing declines. London and the South East have sustained their salary levels from 2021, with both regions having an equal amount of high earners making £70,000 or more.

On the other hand, project management salary growth has reduced outside the UK, decreasing by 22% from £67,500 to £52,500, and the percentage of top earners abroad has gone down from 43% to 35%. This highlights how location greatly affects the salaries of project managers worldwide.

Project Manager Salary By Industry

When we look at specific industries, project managers’ salaries vary by sector. The percentage of annual salary seems to be on the rise in major industries, which is positive for project managers. In the last two years, financial services and life sciences, as well as energy and utilities, have risen to the top of the highest average salary ranking. There has been a noteworthy increase in salaries from £47,500 to £62,500 in the life sciences sector. Other industries like aerospace and defence, construction, telecommunications, information technology, and transportation have also seen an 11% increase in the salary scale.  

Below is a quick overview of the average annual salaries for project managers across different sectors:

• IT Project Manager: £61,424
• Construction Project Manager: £54,768
• Finance Project Manager: £54,265
• Public Sector Project Manager: £48,258
• Healthcare Project Manager: £48,258
• Renewable Energy Project Manager: £48,258
• Digital Marketing Project Manager: £41,842

Project Manager Salary By Experience Level

A working professional’s background is valuable, no matter the education or previous designation. The more experience an individual has, the more likely they are to earn a higher salary. When compared, the salary of a senior project manager in the UK is higher than a project manager at the entry level. However, the salary increases as the position progresses. Typically, individuals with experience make an average of £54,682, while those without usually earn £42,242.

Here is a breakdown of project manager salaries in the UK based on years of experience:

• Less than 1 year: £33,322
• Between 1 and 3 years: £41,500
• Between 3 and 5 years: £46,958
• Between 5 and 10 years: £64,500
• More than 10 years: £72,350

Project Manager Salary By Education And Certification

Due to the intense competition for project managers in today’s world, hiring companies are becoming increasingly selective. They favour candidates with the most relevant certifications. The certifications showcase a candidate’s advanced skills and suitability for the job, allowing them to stand out during the interview and hiring process.

Certificates validate the candidate’s abilities and often lead to higher pay. Various industries demand specific skills, necessitating individuals to participate in specialised training programmes. Educational platforms like Digital Regensys offer customised Project Management certification training in important skills like work breakdown structure, resource allocation, cost management, leadership, and project cost estimation for various industries. Furthermore, specific expertise is provided based on the specific needs of different sectors.

Project Manager Salary By Job Role And Responsibilities

Typical salaries for project managers have either risen or remained stable in the past few years. The salaries of project managers have gone up by £5,000 to reach £47,500, while project management consultants have seen a salary increase from £57,500 to £62,500. Both project coordinators and senior project managers have experienced notable salary hikes of 18% and 9%, respectively. 

There are several roles and responsibilities of a project manager. The salary of a project manager in the UK is influenced by the experience showcased in past positions. Below are the average annual salaries for different job roles:

• IT Project Manager: £55,557
• Project Coordinator: £30,055
• Project Manager: £47,148
• Senior Project Manager: £61,041
• Project Management Consultant: £45,039
• Lead Project Manager: £65,013
• Director of Project Management: £96,157
• Project Portfolio Manager: £77,048

Conclusion

In today’s dynamic and ever-changing world, the salary scale of project managers in the UK is on the rise due to certain factors, such as a shortage of skilled workforce, completion of pending tasks, and the growing trend of internships and training programmes. Even though the industry salary has not changed, certain roles, like project managers, have seen higher-than-average salary increases. There is a promising increase in the number of project managers in the world, along with growth in the project management profile in various industries. Understanding salary patterns is essential for project managers in order to perceive career progression, improve salary negotiations and make informed career decisions in this competitive market.

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Frequently Asked Questions (FAQs)

Q1. How does the location affect the salary of project managers in the UK?

The salaries of a project manager vary greatly depending on the location. For example, salaries in London and the South East are typically higher than in other areas. Salary percentages have risen in the East of England, Northern Ireland, and South West of England, whereas areas like the East Midlands and North East have experienced drops.

Q2. Which industries offer the highest salaries for project managers in the UK?

Industries such as IT, construction, and finance provide some of the most competitive wages for project managers. IT project managers make an average of £61,424, whereas construction project managers earn approximately £54,768.

Q3. What role do certifications and education play in project manager salaries?

Obtaining certifications and higher education can increase the salary of a project manager. Individuals who have appropriate education can expect higher salaries compared to those who don’t. Certifications confirm skills and knowledge, increasing a candidate’s appeal to employers.

Q4. Is there a growing demand for project managers in the UK?

Yes, there is a growing demand for project managers in the UK. The need for skilled project management professionals is expected to increase significantly by 2027, compelled by various industry demands and a shortage of skilled workforce.

Q5. What steps can project managers take to enhance their salary potential?

Project managers can increase their earning potential by obtaining appropriate certifications, gaining additional experience, staying current with industry trends, and pursuing advanced education. Networking and ongoing professional growth are also extremely important.