If you’re considering a career as a technical project manager, one of the questions you may be wondering is how much you can expect to make. Technical project managers are responsible for overseeing complex technical projects from start to finish, ensuring that they are completed on time, within budget, and to the satisfaction of stakeholders. In this article, we’ll explore the average technical project manager salary, factors that can impact your earning potential, and how you can increase your earning potential as a technical project manager.
Overview of Technical Project Manager Salary
According to data from PayScale, the average technical project manager salary is $97,158 per year in the United States. However, this figure can vary depending on a variety of factors, such as your level of experience, the industry you work in, and the region of the country you work in.
Factors that Impact Technical Project Manager Salary
Level of Experience
As with many professions, the level of experience you have as a technical project manager can have a significant impact on your earning potential. Entry-level technical project managers with less than 1 year of experience can expect to earn an average salary of around $68,000 per year, while those with 5-9 years of experience can earn an average salary of $101,000 per year. Senior-level technical project managers with 20 or more years of experience can earn upwards of $130,000 per year.
Industry
The industry you work in can also have a significant impact on your earning potential as a technical project manager. For example, according to PayScale, technical project managers working in the software development industry can earn an average salary of $107,000 per year, while those working in the information technology (IT) services industry can earn an average salary of $95,000 per year.
Region
The region of the country you work in can also impact your earning potential as a technical project manager. For example, according to data from Glassdoor, technical project managers in San Francisco can expect to earn an average salary of $126,000 per year, while those in Dallas can expect to earn an average salary of $96,000 per year.
How to Increase Your Earning Potential as a Technical Project Manager
If you’re interested in maximizing your earning potential as a technical project manager, there are several steps you can take:
Acquire Relevant Certifications
Acquiring relevant certifications can demonstrate your expertise and knowledge in the field, which can make you a more attractive candidate to potential employers. Some relevant certifications for technical project managers include the Project Management Professional (PMP) certification and the Certified ScrumMaster (CSM) certification.
Develop In-Demand Skills
Developing in-demand skills such as Agile project management, risk management, and stakeholder management can make you a more valuable candidate and increase your earning potential.
Seek Out Advanced Roles
As you gain experience as a technical project manager, you may want to consider seeking out advanced roles such as program manager or director of project management. These roles typically come with increased responsibilities and higher salaries.
Conclusion
In conclusion, the average technical project manager salary is $97,158 per year in the United States. However, this figure can vary depending on factors such as your level of experience, the industry you work in, and the region of the country you work in. To maximize your earning potential as a technical project manager, consider acquiring relevant certifications, developing in-demand skills, and seeking out advanced roles.
FAQs
Q1. What is the entry-level technical project manager salary?
A1. Entry-level technical project managers with less than 1 year of experience can expect to earn an average salary of around $68,000 per year.
Q2. What industries pay the highest technical project manager salaries?
A2. The industries that typically pay the highest technical project manager salaries include software development, finance, and healthcare.
Q3. What skills are essential for a technical project manager?
A3. Essential skills for a technical project manager include project management, communication, problem-solving, leadership, and technical expertise.
Q4. How can I become a technical project manager?
A4. To become a technical project manager, you typically need a bachelor’s degree in a related field, such as computer science or engineering, as well as relevant work experience in project management or a related field. It can also be helpful to acquire relevant certifications and develop in-demand skills.
Q5. What is the future job outlook for technical project managers?
A5. According to the Bureau of Labor Statistics, employment of computer and information systems managers, including technical project managers, is projected to grow 10 percent from 2020 to 2030, which is faster than the average for all occupations.
In conclusion, a career as a technical project manager can be both rewarding and lucrative. While the average technical project manager salary is around $97,000 per year, there are several factors that can impact your earning potential, including your level of experience, the industry you work in, and the region of the country you work in. By acquiring relevant certifications, developing in-demand skills, and seeking out advanced roles, you can maximize your earning potential and advance your career as a technical project manager.