Production Manager Salary Utah

Production Manager Salary Utah – Project management has always been a lucrative profession, and it remains so even after the economic hardship caused by the COVID-19 pandemic.

In fact, 50% of the 30,446 respondents to PMI’s latest Project Management Salary Survey reported an increase in their pay and benefits between March 2020 and June 2021.

Production Manager Salary Utah

This is a reflection of the importance of project management, but also the high demand for qualified fresh talent.

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Estimates show that 25 million people will need to enter the profession by 2030 to close the talent gap. That equates to 2.3M project managers each year. It is not difficult to see why organizations would insist on retaining their experienced employees.

This is good news for those who want to change careers or choose project management as their main occupation. But, before rushing into any important decision, it is good to first collect and analyze all the available information.

The article below will, for the most part, discuss project manager salaries across the United States. You’ll learn all about the factors that affect project managers’ salaries and what you can do to improve your chances of a raise.

This text offers some interesting insights into project manager salaries in the United States. But, before we dive into the nitty-gritty, here are some stats we’d like to highlight.

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To learn more interesting facts about project management, visit our comprehensive guide to project management statistics:

According to the Project Management Institute’s latest salary survey, the 3 countries with the highest average salaries in the world are:

The median salary—also known as the 50th percentile—is the mark at which 50% of survey respondents report high pay and 50% report low pay.

In other words, if the median project management salary in the U.S. is $115,000, that means 50% of the 7,575 survey respondents to PMI’s 12th Salary Survey reported earning more than $115,000, and 50% Reported low income.

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The reasons for such differences in salaries, even among project managers from the same country, are many—but the most influential factors are:

A project manager’s income is directly tied to their work experience—which in turn is often tied to one’s rank or position.

According to the latest data for 2020-2021, new full-time project managers in the U.S. start their careers with a median salary of $78,279.

After accumulating at least 3-5 years of experience, this number jumps to 8.6%. And then, the number increases by 17.6%, 20%, 8.3%, and 6.2% every five years, until the PM reaches 20 years of experience or more.

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The reason salary increases are not calculated after more than 20 years of experience is because this is the threshold at which project manager salaries stop.

We are starting to see people with experience in those 3-5 years make a significant jump because of the skills gap. I would say capping out around 16 is pretty common. At this point, people have earned their stripes and potentially moved themselves into a contracting role.

Job titles, or project management roles often go hand in hand with experience – but this is not the rule.

This is why you will see some significant differences between the distribution of PM salaries by job title and the distribution by experience shown in the table above.

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Below, you’ll find more data showing how project manager income varies depending on whether the PM is traditionally employed or self-employed.

As remote work becomes more popular and made possible thanks to collaborative project management software, some project managers are choosing to abandon their traditional roles as employees in organizations in favor of being self-employed. I am

It can be a risky path, but evidence suggests it can also be rewarding — at least financially.

According to PMI, self-employed project managers earn an average of $4,000 more per year than traditional workers.

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According to the APM Salary and Market Trends Survey, it makes sense that highly qualified and experienced project managers are being hired to work on high-profile projects with above-average budgets.

But, that’s not all – the salary of a project manager can depend on the size of the organization.

PMI reports that the average salary for PM professionals doing the same job in large organizations can be $19,000 higher than for those working in smaller companies with fewer than 100 people.

Just as prime ministerial salaries vary from country to country, they can also vary greatly from city to city. This is usually related to urbanization and the cost of living.

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In the US, the Bureau of Labor Statistics reports an annual median project management salary of $94,500 and a national average annual salary of $98,420.

The report shows that the states that offer the highest average annual wages for project management professionals are:

The highest average annual project management salaries in the U.S. are generally concentrated in metropolitan areas, where the top three payers are:

Looking at the numbers, we can see that the difference between the lowest average annual PM salary in the US ($72,160) and the highest ($133,950) is a staggering $61,790, or 53.9%.

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To give you a clear overview of PM salaries across the US, we’ve compiled a list that includes each state with their average salaries for project managers.

Generally, the higher the education, the higher the salary. Project management is no exception to this rule.

PMI’s salary survey shows that project managers with a college degree earn up to 24% more than those without.

However, it is surprising that a specialized degree in project management will do nothing to increase your income in the US.

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But, in case you’re wondering – yes, you can work as a project manager with just a high school diploma.

Although they accounted for only 1% of respondents, 93 of 7,575 project managers surveyed by PMI in the U.S. reported having only a high school diploma and still earned a median salary of $105,000.

Project managers who aren’t satisfied with that income, but don’t want to go back to school, have another option – getting certified.

Whether used as a gateway to project management, or proof of competency, project management certification is a great way to advance your career.

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One of the most accepted and recognized certifications in the world is Project Management Professional (PMP®) — and, according to the 12th PMI Salary Survey, their higher salaries reflect that.

The survey showed that in all forty countries (including the US, UK and Australia), project managers with PMP® certification reported an average of 16% higher salaries.

In the U.S., the number is even higher, where project managers with a PMP® certificate earn an average of 32% more, rising to a staggering 51% more—depending on which certificate a person holds. How long is it?

While not all certifications guarantee an immediate salary increase, they do help open up the possibility of job interviews or promotions, which often lead to higher income.

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If you’re willing to put in the effort and time to become certified, you’ll enjoy benefits such as:

If you want to know more about the best project management certifications, visit our guide where you can learn about courses, exams, prices and more at the link below:

I think the difference in salaries is based on the skill set that is in demand and how much the particular industry adds to the economic situation of the country.

This is a perfectly logical explanation for the disparity in salaries across different industries around the world.

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In America, this difference is particularly clear. According to PMI, project managers working in the lowest-paying industry — the training and education industry — earn 47 percent less than those in the resource and consulting industries, which are the highest-paying in the country.

If you have prior experience in resources, consulting, aerospace, engineering, or IT, and you specialize in project management, you may want to consider opportunities in these high-paying industries.

Although the training/education, business services, legal, construction, and real estate industries have the lowest median income according to the PMI, they are still above the U.S. average.

Despite a relatively equal number of male (3,966) and female (3,486) respondents, the gap in median pay between men and women was $14,000, according to the PMI — a figure that barely budged from 2019.

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The APM Salary and Market Trends survey shows that the situation is worse in the UK, with a 24% gap in favor of men – although this gap is starting to show signs of narrowing.

Project management pays well regardless of the organization you work for. But, there are some companies that stand out.

We consulted Glassdoor’s list of top project management companies to learn more about them. This list is based on thousands of anonymous reviews from people who actually work, or have worked for each of these companies.

It’s always difficult to predict the future – especially since project management salaries have a high future.

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