Project Management Salary is a major concern before entering the field of project management. Project management undoubtedly is a promising career with higher salaries and a diverse range of tasks. According to Project Management Institute, employers will require almost 88 million individuals in project management roles by the year 2027.
Therefore, understanding salary trends is crucial for both aspiring and established project management professionals. READ ON!
Make sure to check: Top 10 Duties of Project Management That Drive Success!
What is Project Management?
Project Management is the process of planning, organizing, and overseeing the execution of a project to achieve specific goals within a defined time frame and budget.
Project Management Salary
The average Project Management salary in Canada is approximately $115,287 per year. However, this figure is influenced by factors such as experience, industry, and location.
10 Project Management Career with Salaries in Canada
Here are the most popular project management career paths with their salaries (as per Jobbank):
1. Construction Project Manager (NOC 70010):
Oversees construction projects, managing budgets, timelines, and coordination of various teams to ensure successful completion.
Salary:
| Low ($/hour) | Median ($/hour) | High ($/hour) |
| 25.00 | 40.87 | 68.31 |
2. Engineering Service Project Manager (NOC 20010):
Coordinates engineering projects, ensuring technical objectives are met, and overseeing teams to deliver projects on time and within budget.
Salary:
| Low ($/hour) | Median ($/hour) | High ($/hour) |
| 39.50 | 57.69 | 86.54 |
3. Technical Project Manager (NOC 21222):
A Technical Project Manager oversees and coordinates technology-related projects, ensuring successful planning, execution, and delivery within stated limits.
Salary:
| Low ($/hour) | Median ($/hour) | High ($/hour) |
| 25.00 | 42.16 | 61.54 |
4. Software Development Project Manager (NOC 21232):
They direct software development projects, coordinating teams to deliver high-quality software on schedule and within scope.
Salary:
| Low ($/hour) | Median ($/hour) | High ($/hour) |
| 23.60 | 40.38 | 58.97 |
5. Computer Project Manager (NOC 20012):
A Computer Project Manager supervises and guides computer-related projects, overseeing their planning, execution, and successful delivery within defined parameters.
Salary:
| Low ($/hour) | Median ($/hour) | High ($/hour) |
| 34.86 | 55.38 | 76.92 |
6. Information Technology (IT) Project Manager (NOC 21300):
IT projects managers planning, execution, and monitoring, to ensure the successful implementation of technology solutions.
Salary:
| Low ($/hour) | Median ($/hour) | High ($/hour) |
| 34.86 | 55.38 | 76.92 |
7. Marketing Project Manager (NOC 11202):
They lead marketing projects, overseeing campaigns, budgets, and timelines to achieve marketing goals and objectives.
Salary:
| Low ($/hour) | Median ($/hour) | High ($/hour) |
| 18.00 | 30.50 | 52.88 |
8. Financial Project Manager (NOC 10010):
Finance project managers supervise projects that directly impact an organization’s income, expenditures, cash flow, long-term investments, and reporting.
Salary:
| Low ($/hour) | Median ($/hour) | High ($/hour) |
| 31.25 | 52.88 | 80.00 |
9. Portfolio Manager (NOC 11101):
A portfolio manager assists clients in making investing decisions, managing portfolios, and deciding whether to buy and sell assets.
Salary:
| Low ($/hour) | Median ($/hour) | High ($/hour) |
| 24.04 | 37.95 | 57.69 |
10. Product Manager (NOC 60010):
A product manager is responsible for developing and overseeing a product. To successfully launch a product, they work closely with a team of engineers, designers, and marketers.
Salary:
| Low ($/hour) | Median ($/hour) | High ($/hour) |
| 27.40 | 52.88 | 87.18 |
Benefits of Project Management Career
There are various benefits of project management career, such as:
- Project management offers a structured career path with opportunities for advancement.
- Skills acquired are transferable across industries, enhancing career flexibility.
- Project managers often develop strong leadership and communication skills.
- Regularly facing challenges hones critical thinking and problem-solving abilities.
- Many projects are international, providing exposure to diverse cultures and markets.
- Project managers often enjoy competitive salaries and bonuses.
- As businesses rely on effective project management, professionals in this field are in demand.
- Earning certifications (PMP, CAPM, PRINCE2 etc) enhances professional standing.
- Involvement in projects exposes professionals to new technologies and methodologies.
You may also check: 10 Must Have Skills for Project Management!
Frequently Asked Questions
ANS: Here are the 5 popular project management careers:
1. Project Manager
2. IT project manager
3. Product manager
4. Engineering service project manager
5. Financial project manager
ANS: The average Project Management salary in Canada is approximately $115,287 per year.
ANS: Salaries often increase with years of experience. Experienced project managers typically earn higher salaries than those with less experience.
ANS: Generally, yes. Advanced degrees, such as an MBA or PMP certification, can contribute to higher project management salaries.
ANS: Yes, strong communication, leadership, and interpersonal skills can positively influence salary levels.
ANS: Industries like IT, finance, and healthcare often offer higher project management salaries.
