A project manager’s pay varies depending on the industry and business. The typical compensation for project management specialists varies in India depending on the industry and the companies that operate in it; in essence, the amount of money each company brings in. The software sector, for instance, makes more money than the industrial sector. Several variables influence the pay for project managers in India. Let’s see some of them here.
Industry & Firm
Project management professionals (PMPs) are paid more by companies working on large-scale industry clients’ projects than those working on projects in India. Additionally, the origin region affects the remuneration for PMP employment in India. For instance, project managers employed by Google in the US have more salaries than their counterparts in its overseas offices, such as those in India.
Certifications
Without a qualification, project managers are less equipped with the technical know-how and are more dependent on their experience and soft skills. It takes them a long time to become proficient as a result. Towards the end of the project, it also results in subpar outputs or imbalances in the balance sheet.
For project managers in many businesses, the PMP® certification is optional. However, it makes your candidacy for the job seem more credible. An applicant for the PMP must have either 7500 hours of project management experience or a four-year degree with 4500 hours of project management experience.
The Location
In India’s IT industry, PMPs get salaries regardless of where they work. For example, the salary of a PMP at Infosys in Pune is the same as that of a PMP in Bangalore. However, the location affects project management professionals’ wages in India’s industrial sector. These companies’ foundations determine many aspects that contribute to their success, like the ease of obtaining resources. However, there are variations in wage scales throughout industries.
Experience and Skills
In India, 13.7 LPA is the average income for a PMP fresher. Experienced PMPs with 4–9 years of mid-level experience make roughly 13 LPA, whereas experienced PMPs with 10–20 years of experience make 18 LPA.
Each job requires a different set of talents and abilities depending on the obligations of the role. Likewise, experts in project management need to possess a few technical skills in each area.
In conclusion, basic project management training is the ideal way to begin your career as a PMP since it introduces you to project management tools and processes. It helps you understand the possibilities you can consider depending on your passion and builds the groundwork for your future.
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