An organization’s project delivery divisions are led by PMO managers, Project Management Officers, or Directors. Project Management Office Managers are in charge of directing the Project Managers, as well as assuring project management methodology, governance, and effective project delivery. A Project Management Office Manager’s wages are influenced by a number of criteria, including the industry, company, the degree of experience they have, and the talents of the Project Management Office executive.
Some of the main points of this blog are related to the compensation a PMO manager can get, they are:
- On average, a Project Management Office Manager’s wage is $218k in the United States.
- A Project Management Office Manager’s pay can be much higher in the Pharma, IT, and Defense industries.
- The remuneration of a Project Management Office manager is influenced by a variety of elements, including skills, years of work experience, accomplishments, the urgency the company has, certifications, qualifications and many more items.
Keep reading to learn more about the many factors that can affect the salary of a Project Management Office Manager.
The Salary Of A Project Management Office Manager
The issue with pay is that when one’s seniority level rises, pay and benefits vary greatly based on the sector and organization. The same can be true for PMO Directors. According to salary.com, all throughout the US, the median Project Management Officer compensation is $218k, while the range can be between $193-248k.
Pay ranges can differ greatly based on a variety of factors. Training, certifications, extra talents, and the number of years you’ve worked in your field are all indicators, while location of course plays another significant role in job opportunities and how high or low a salary could be. For example, if a Project Management Officer manager or exec has substantial demonstrated expertise in combating project time delays or project budget overruns, that will have an impact on the remuneration that the PMO manager can get when negotiating and completing an interview process. Let’s take a look at each factor individually.
Project Management Office Manager By Industry
PMO manager salaries are greater than normal in some areas like Pharma, Defense, and IT. If you search for PMO manager positions in Finance, you’ll see that a Project Management Office manager may earn around $229k per year. A Project Management Office manager may certainly earn a lot in this position. The IT industry is also known for offering very well-paid positions to PMO managers. A little investigation revealed that, within the IT industry, a PMO manager might earn up to $204k.
Likewise, pharmaceutical corporations pay their PMO managers up to $194k per year. Despite the fact that their projects aren’t particularly technical or vital, the food-producing industry pays well too. In the food manufacturing business, PMO managers may easily acquire a position with a payment of up to $200k. The defense industry is one of the most highly paying sectors a PMO manager can go for. Some of the listings in the defense industry for a PMO manager show that they can earn up to $196k per year.
We’ve just identified a few of the sectors that compensate a PMO manager particularly well. A Project Management Office manager might potentially make a similar income in a variety of other sectors. Given the growing demand for project management offices and PMO managers, an increasing amount of PMO manager positions are becoming available. PMO managers are in charge of a lot of things. They must guarantee that projects are completed successfully and that those operations run smoothly. Naturally, PMO managers are being paid more than any other project management-related jobs because of the crucial obligations they carry out.
How Is A Project Management Office Manager’s Salary Decided?
Additionally, studies have found that PMO managers that work on upscale projects with budgets above $10 million can make 40% more than just the average income. Furthermore, these pay levels are likely to rise year after year. As the need for more project managers grows, so does the pay for these positions.
Organizations may also seek a Project Management Office manager just for a short-term consulting role. As a consultant, they may be tasked with establishing project management techniques, rules, and the right processes that the project team members need to follow. They might also be in charge of a project from start to finish.
When it comes to these types of short-term positions, you can expect a better income. The cause seems to be that individuals are hesitant to accept temporary work since it is difficult to change occupations. You can imagine how difficult it can be to find work on a consistent basis. Organizations are aware of this, so as a result, they pay far greater compensation to their short-term employees than they do to long-term employees.
What Having Experience Can Do For You As a PMO
The number of years a Project Management Office manager has been involved in leading and managing previous projects can have a big impact on their pay. Even though there are various aspects that go into deciding a Project Management Office manager’s compensation, like their education, credentials, talents, and so on, the number one factor that definitely has the most impact on the Project Management Office manager’s pay is the number of years they’ve worked and the experience they have gained as a result.
Once you get a lot of work experience, individuals can consider taking on the role of a PMO manager. Additionally, in order to be considered for a PMO manager position, you must have recent managing experience. Organizations frequently seek managers with 10-15 years of expertise, and out of those 10-15 years, at least 5 should be actual project management experience. Smaller enterprises, on the other hand, may get away with having fewer years of expertise in their staff due to the tighter budgets and smaller and less complexity their projects often entail. This criterion may definitely vary according to the industry or tasks for which you will be engaged.
To advance in their careers, PMO managers must have achieved specific qualifications and completed training or skill and knowledge-building exercises. Clearly, this is a challenging task. However, if you’ve established yourself by collecting years of management expertise, it won’t be hard to snatch a position as a Project Management Office manager and be awarded with a very high compensation.
The Higher The Role, The Higher The Pay
Employees in organizations are frequently promoted to senior positions within a couple of years. They are promised not just a greater position but a larger income too, at the time they are moved.
A Project Management Office manager is in the same boat. After several years of working as a Project Management Office manager in a business, they can anticipate being promoted to a senior Project Management Office manager or director. And as you advance in your career, you will begin to make a larger pay than you did previously.
As a result, in the workplace, every extra amount of experience counts. The greater your decades of work expertise, the higher your PMO manager compensation is going to be.
Skills, Education, And Certifications for a PMO
To lead a PMO, a Project Management Office Manager needs to have excellent project management expertise as well as plenty of soft skills. They may, for example, acquire a Project Management Professional certification and have strong interpersonal skills as well as servant leadership qualities. Some of those qualities are indispensable things every PMO manager must possess.
Because the manager will be operating in a PMO, they are required to be well-versed in a variety of abilities. These are going to be essential for the success of the PMO. They should be able to deal with a variety of people that are working together for the project, as well as building excellent relationships with stakeholders, track and set up all new processes, and find & manage risks, just to name a few things.
Different Skills For Different Projects
The amount of expertise needed of Project Management Office managers varies based on the sort of PMO in which they operate. If they work for a Directive Project Management Office, for instance, they must instill professionalism and expertise in the project. They’d achieve that by putting in place the most effective procedures and streamlining processes. Their ultimate goal is to increase the project’s performance and deliverables. As a result, their abilities will be critical in successfully completing a project.
The governing PMO’s role would be to assist the company in implementing the methodology. It would necessitate adherence to governance as well as industry norms. In order for project teams to successfully accept the instructions and comply with the criteria, the Project Management Office manager will require special interpersonal abilities along with the usual project management expertise needed to manage and guide a project to success.
To be able to educate the team and give technical assistance, a Project Management Office manager in the support PMO needs to be technically capable on top of other skills. They’d also have to handle projects on a daily basis. As a result, if they possess the technical and project management abilities, they are going to be able to perform all of this and more. A PMP certification can also aid them in establishing a successful Project Management Office.
Why Must A Project Management Office Manager Have These Skills?
You might be wondering why a Project Management Office manager would require all of these talents. Why would it be so important to have a variety of skills? A well-planned project with a lot of experienced and qualified resources, may not provide management with any issues. Some initiatives, on the other hand, may result in a slew of scenarios that are tough to handle. And, in these situations, the Project Management Office manager has to be capable of dealing with them effectively. PMO managers can only effectively manage the project’s obstacles, challenges, and threats if they possess the necessary skills.
There are frequently competing demands to manage, as well as interpersonal disputes, and things may quickly become frightening. If you don’t want problems suddenly arising in the project, you’ll have to face a lot of these challenges. If PMO managers don’t handle these issues properly, they will almost certainly encounter cost overruns, timetable delays, and a loss of reputation, among other things.
If Project Management Office managers want to reach success in their field, they must develop the necessary skills, and they need to put them into practice on a daily basis. There are hundreds of possibilities for PMO managers to grow or strengthen their talents in projects. Project Management Office managers will realize that their abilities have become the most powerful weapon in their project management skills once they begin to value them. PMO managers can also get significantly better compensation or, at the very least, will be able to secure a spot at the top of every shortlist if most of these abilities and required certifications are met.
Going The Extra Mile To Reach Success
The compensation of a Project Management Office manager is determined by the quantity of projects handled and delivered effectively, but that is not the only thing taken into consideration. An organization seeking for a Project Management Office manager may demand vertical and/or niche expertise regarding a certain issue in some situations. If the manager they’ve discovered has that specific job experience, the company will be willing to extend an extra fee for them.
Despite saying that, if you’ve been employed as a PM and would like to further your career, you must really have to go above and beyond to make a mark. That is to say, the projects on which you have participated and successfully finished, particularly those involving project management, will be a significant factor. PMO managers that have worked on 10 or so projects might earn a higher remuneration than those who have worked on fewer projects.
Why Having Specific Degrees And Certifications Can Be Useful
Some companies demand that a potential project manager earn a degree for a specific field. If you’re seeking for a Project Management Office manager job in the telecommunications business, for instance, you could be required to have a Telecom diploma. Likewise, a civil engineer will be expected of a Project Management Office manager working in the construction business. You might expect to acquire a position with a greater income than typical if you have the right degree, as well as project management abilities, and some specialty experience.
There are additional comparable qualities that a company should seek for from a Project Management Office manager. When you’re employed for an infrastructure project, for instance, you could be required to have previous rail project expertise. A highway project manager could well be needed to have particular road project professional experience. Other elements to consider are the project’s size, number of projects you’ve worked on, project budget, duration, and complexity.
So, these details will be crucial. When deciding the remuneration for a Project Management Office manager, a business may consider these factors.
Urgency And Demand In Organizations For PMO Managers
If a company has to locate a substitute or occupy a position quickly, the budget for identifying qualified applicants will become more flexible. In some circumstances, companies are willing to pay up to 20% more than the industry average to fill the position.
Organizations may need to recruit a new talent quickly for a variety of reasons. Because of quickly changing markets, legal regulations, or unexpected client demands, for instance. There might have been a pressing need to add extra managers for a particular project. Or perhaps there may have been a project urge or a stakeholder request. There might be a variety of reasons why you need to recruit new talent right away. The firms are thus prepared to spend more budget on the Project Management Office manager’s compensation in order to swiftly recruit and hire some fresh talent for the project.
PMO Average Salary And Standing Out From The Competition
The remuneration of a Project Management Office manager is determined by a number of criteria. As previously said, the amount of professional experience you possess, the competence you offer, and the certifications you have are all important factors.
In today’s competitive employment market, employers consider all of these aspects when setting the Project Management Office manager’s pay. Although there shouldn’t be a scarcity of resources, each business has its unique set of management demands. As a result, it’s become critical to have a diverse mix of talents and expertise in order to match the organization’s employment criteria and be considered for an interview session.
If you really want to grab people’s attention and shine amongst the other job candidates, there are plenty of professional credentials to choose from. Obtaining numerous certificates has become increasingly popular in recent years. When you chat to your coworkers or acquaintances, you’ll notice that several of them have at least 1 or 2 professional qualifications. It’s because individuals nowadays understand that in order to get a decent job, they need to have a number of qualifications connected to their resume.
The job of a Project Management Office manager is difficult. They must manage and lead projects to ensure that the project’s objective and goals are met. They also have to answer to all of the project’s sponsors, customers, and other important stakeholders and relevant parties. Increased duties, on the other hand, will come hand in hand with a higher compensation.
What We Learned About PMO Managers And The Industry
The need for PMO managers and PM, in general, is increasing at a pace of 12% per year worldwide. If you’ve been doing project management, and other related jobs to that field for a while and want to further your career, know that becoming a PMO manager is a great option to look into when preparing and planning out your career.
In addition, the salary for a Project Management Office manager is quite appealing. However, in order to land your ideal job, you must have the necessary abilities, certifications, and a lot of relevant experience.