Salary

What is Salary? The official definition says - Money that is paid regularly for doing work. It means that if someone is doing work, as per the company’s rules and regulations, he must be paid. But what to do with those professionals who are not working as per the company’s rules and regulations? Do Company need to give them salary? 

The question raised above is a very diplomatic one. There are infinite “if and but” to answer the above query. Anyways, this is not the topic that I am going to cover in this blog.

Actually, I was thinking few days back about the factors that can influence most in any manager’s salary. Those are -  

1. Country of employment
2.  Number of years experience in a position or role
3. Average size of projects managed (including budget and team size)

Country of employment is very crucial. Look at the data below which is the average annualized salary of Project Professionals in different countries –

·         US - $ 105000

·         UK - $ 96384

·         Saudi Arabia - $ 63997

·         India - $ 31390

·         China - $ 23207

·         Japan - $ 86787

·         Australia - $ 139497

Average annualized salary of project professionals comes around $ 92000 around the world.

There is one more differential factor in the salaries in some organizations. That factor is gender based factor. I have seen in some organizations that there is a marginal (and sometimes big) difference in the salary between the male project manager and female project manager, having the same experience level.

United States, Canada and Malaysia are countries with the smallest gender gap among project professionals. Its around 65% male and 35% female. The three countries with the biggest gender gap are Saudi Arabia, South Korea and UAE with around 96% male and 4% female project professionals.

Experience also plays a major role in setting up your salary credentials. A person with a good management experience will definitely earn more than a person with less managerial experience. Sometimes, this statement becomes “null and void” for some resources. But again, the standard says like this only.

Average size of project managed is somehow related to the years of experience that a person is having. The only fact that this factor plays is about the experience, about the size and resources of the projects, handled by a specific person. 

- Sanat Sharma