Project Manager Salary: Your 2024 Guide

How much do project managers make?

Glassdoor reports an average Canadian salary for project management professionals of $87,908 as of April 2024, with the lowest reported wages at $66,000 and the highest reported wages at $100,000 [1].

Factors that impact project manager salary

Your cash compensation in this field ultimately depends on various factors. If you’re looking to maximize your paycheck, consider these components of the pay equation.

Education

As in many industries, higher education can often yield higher pay. While there are no regulated requirements to become a project manager in Canada, most positions, such as construction project managers, will require a university degree. You’ll also need a four-year degree to earn your PMP certification from the Project Management Institute, a global organization for project management professionals. A professional with a PMP certification earns an average salary of $77,468 [2].

Earning a higher degree enhances earning potential and might make you more competitive in the job market. By earning a business-related degree, such as a Master of Business Administration, you can build the leadership skills companies are looking for and open up the possibility of moving into executive management in the future.

Certification

Earning a project management certification can help validate your skills and experience to employers. This can sometimes translate into a higher salary. Among the professionals surveyed in over 40 countries by Project Management Institute, the median salary for those holding a Project Management Professional (PMP) certification was 16 per cent more than those without [3]. 

While the PMP is certainly a highly respected credential, it’s not the only one. You can also get certified in project management methodologies, like Agile, Scrum, or PRINCE2, or earn an industry-specific credential, like the CompTIA Project+ for information technology (IT) project managers.

Years of experience

Generally speaking, the more job experience you have, the more you can expect to earn. Luckily, experience doesn’t take long to start translating into more money. 

According to Glassdoor, project managers with two to four years of experience earn an average salary of $48,000 to $73,000 in Canada, while professionals with eight or more years of experience can earn $65,000 to $103,000 [4].

Job title

You’ll find several roles in this career field. While your position might correspond to your seniority and experience level, this is another way to look at typical salaries. According to Glassdoor, these alternate job titles pull in the following average annual salaries:

• IT Project Manager: $96,194 [5]

• Program manager: $91,474 [6]

• Program manager, telecom: $86,894 [7]

• Senior Project Manager: $114,445 [8]

• Technical Project Manager: $99,708 [9]

• Scrum Master: $96,794 [10]

Industry

In many industries, including project management, where you live can impact your income. Data from Job Bank Canada indicates that project management jobs in the Yukon Territory, Northwest Territories, and Saskatchewan tend to have the highest annual salaries. 

When thinking about location, it’s important to consider the cost of living as well. The areas with the highest pay—often major cities—tend to have higher living expenses.

As companies continue to digitize employee interaction and collaboration—a trend accelerated by the COVID-19 pandemic—there may be more opportunities for online positions that allow you to work from anywhere. Companies like Amazon, HubSpot, Oracle, Twilio, and UnitedHealth Group have already begun hiring remote project managers.

Team and company size

The size of your organization (and the size of the team you manage) can also affect your annual earnings. The larger the team, the higher the median annual salary for project managers. According to PMI, those working in teams with fewer than five members reported a median salary of $105,000, while those with 20 or more brought in $130,000 [3].

Project management methodology

While less significant than the other factors we’ve discussed, the project management methodology you work with could also impact your pay. For example, PMs who responded to the PMI Salary Survey and who used Extreme Project Management techniques tended to earn more than those who used Agile, Lean, and Waterfall techniques.

It’s important to remember that methodologies and techniques often depend on the industry, company culture, and type of project.

Next steps

If you’re interested in a career in project management, start building a foundation of job-ready skills through the Google Professional Certificate in Project Management. These six courses can help prepare you for an entry-level role, and upon completion, you can apply directly with Google and some 130 other employers.