There are many benefits of choosing a career in Project Management. Benefits that might include job security, flexibility as well as a good paycheck.
If you’re interested in pursing a career in project management, it is important to know what the job entails. A project management role at any company or organisation can be highly challenging as it calls for a variety of unique skills and traits.
Project managers are in charge of the planning and execution of a particular project, and they often manage projects, people, and expectations. The job entails a lot of planning, good communication and because it requires various technical skills, project managers get compensated well for their labour.
Demand for project managers is growing globally, and jobs that are in high demand tend to command higher salaries.
A project managers salary can vary according to the type of project the manager is overseeing as well as their experience and specialization within specific markets or products but regardless of your level of experience, the salary of a project manager is quite lucrative.
According to a study, the average base salary of a project manager in South Africa can range anywhere from R31 314 to R68 951 per month.
A project managers salary can also look different depending on what type of project manager you are. Project managers in junior positions receive a lesser paycheck than managers in senior positions. A junior project manager is reported to receive an average salary of R16 113 per month, or R193 356 per year.
In South Africa specifically, the salary a project manager can earn per annum can range from R500,000 a year for a mid-level position, to over R1 million a year for a more senior project manager, with over 20 years of experience.
These salary estimates usually do not include any additional compensation project managers might receive, these could include cash bonuses, commission, tips, or profit sharing.