How Much Can I Earn in Project Management?

Let’s be honest, when you’re looking into developing or pursuing a career, there’s only one question, the answer of which can be a dealbreaker about whether you’ll be going into that industry or not: how much can I earn?

Like any other role, the same question stands for those looking to get into project management. The reality is, however, that there’s no one-size-fits-all response to that question. It all comes down to industry and, in some cases, seniority. 

To give further insight, we did some research into the salaries you can expect in the UK’s project management industry, based on the “Salary and Market Trends Survey 2023”, published by the Association for Project Management, in association with YouGov.

Here’s a rundown of the most common Project Management roles in the UK, along with the average salary for each job.

1) Assistant Project Manager Salary

Assistant project manager is considered an entry level role and in the UK the average salary is around £32,500, according to APM.

This role works closely and reports to the Project Manager, assisting in coordinating projects from start to finish during the planning, procurement and execution of projects. 

Usually, it entails a wide array of management and administrative tasks to assist an organisation’s project manager. 

Responsibilities:

• Providing direct support to the project manager to help them perform their duties quickly and accurately
• Following up with clients, taking notes during meetings and analysing statistical data
• Preparing performance, ranking and weekly progress reports
• Communicating with team members, directly or through presentations 
• Providing assistance in data collection, development and analysis for accurate decision-making and goal setting 
• Communicating with clients to cultivate and maintain good relationships
• Assisting in inventory monitoring, resource and process management

2) Project Administrator Salary 

In the UK, the average salary for a project administrator is approximately £27,500 based on APM’s salary report.

Essentially, project administrators are responsible, as their title suggests, for various administrative tasks relating to a project. These duties typically involve documentation, handling budgets and ensuring the project team is on track and on target. 

They tend to work closely with project managers, alleviating them from administrative tasks, making their job easier and assisting with the project’s progress. 

Responsibilities:

• Creating and maintaining project libraries, plans, files, recording and reporting systems
• Advising and assisting the project team on procedures, disciplines and reporting requirements
• Tracking risks and issue logs for improved risk management 
• Maintaining effective project management communication methods 
• Producing project summary reports and coordinating the preparation of all reports 
• Defining and documenting methodology procedures 
• Ensuring projects remain within budget and timeframe 

3) Project Engineer Salary 

Project engineers in the UK typically receive an average salary of £47,500 according to APM’s salary survey guide.

Project engineers’ role is responsible for overseeing projects within technical and engineering aspects, to ensure the highest level of accuracy and quality is being employed for the project. 

They tend to work with project teams to translate project requirements into implementable tasks with practical and realistic deadlines, as well as work closely with clients to resolve issues within the project plans and budgeting.

Responsibilities: 

• Developing detailed project plans which include timelines, budgets, resources and risk assessments 
• Providing technical support and guidance to the project team v
• Ensuring that the project adheres at all times to the quality standards and regulations, and legal requirements are met 
• Cultivating and maintaining effective communication with various stakeholders such as clients, contractors and vendors 
• Identifying and resolving technical issues that may arise within the course of a project
• Coordinating different teams to meet project objectives and goals such as construction, maintenance and manufacturing teams

4) Business Analyst Salary 

According to APM, business analysts’ salary in the UK is around £37,500. 

Their role involves collecting data regarding an organisation's operations to improve its systems and processes, suggesting ways the organisation can operate more effectively and maximise revenue.  

The primary duties of business analysts revolve around gathering and analysing data to develop and investigate potential solutions, as well as improvement, to organisational challenges. 

They may work in-house for a company, working only for projects of that employer, or may work on a consultancy contract, working for different organisations and various projects, sometimes simultaneously. 

Responsibilities: 

• Identifying potential areas of concern with the business model and designing solutions 
• Gathering, reviewing and analysing business and industry data, including KPIs, financial reports and more, by utilising data analytics tools 
• Carrying out periodic quality checks
• Maintaining the documentation of various projects, processes and operations of the company
• Overseeing the implementation of approved process improvements 
• Developing comprehensive end-to-end test cases at the application level

5) Project Manager Salary 

The annual salary for project managers in the UK according to APM is approximately £47,500. 

Project managers are essentially responsible for the day-to-day management of a project, from planning to execution. They must display competence in managing 6 aspects of a project, which include the scope, schedule, finance, risk, quality and resources. 

Generally, project managers work on specific projects with determined deadlines, definite outcomes and have to remain within the decided budget. However, depending on their level of experience, seniority, or company size, project managers may handle one, or multiple projects at a time. 

Responsibilities: 

• Planning the work and duties that must be completed for a project, assigning them to team members, based on skill sets, experience and strengths, and setting a timeframe to each task
• Identifying, monitoring and managing the potential risks
• Monitoring project performance to ensure a timely, quality and on-budget delivery
• Motivating the project team and effectively working with stakeholders for efficient project implementation 
• Compiling and submitting project status reports on management, clients and other stakeholders 
• Holding meetings with top leadership and clients to identify project goals, requirements, timelines and costs, as well as regular catch-up meetings for updates on the project’s status

6) Portfolio Manager Salary 

Portfolio managers are typically considered senior-level professionals and their salary reflects that as they tend to receive around £67,500 in the UK according to APM. 

Portfolio Managers are usually responsible for creating, analysing and managing investment strategies and financial information such as stocks, bonds, investment opportunities, capital movements, economic forecasts and trading volumes. They are essentially focused on the analytical aspect of investment rather than the sales side. 

In most cases, portfolio managers follow a predetermined strategy to meet their client’s investment objectives, dictated by an investment policy statement (IPS) drafted by the two parties. 

While some portfolio managers might work with families and individuals, others work for organisations and institutions as corporate investors. 

Responsibilities: 

• Preparing reports and suggestions on capital management and investment performance
• Gathering company’s investment and financial information, including blinds, economic reports, financial statements, trading columns etc. 
• Creating and implementing tools for financial analysis
• Managing projects that are being financed by the company or the client
• Preparing and analysing the company’s or the client’s debt portfolio 
• Drafting analytical reports on the company and industry standpoint
• Guiding investment opportunities and developing investment objectives 
• Managing bond portfolios and equity, aiming to maximise client or company investment returns 

Nonetheless, a career in project management is undoubtedly a lucrative one, perfect for individuals seeking a fulfilling and rewarding career path. It’s a dynamic field, suitable for those with an organised mindset and a desire to drive change. As no two projects are ever the same, a career in project management is the furthest thing from boring and mundane, and ideal for those that like to continuously work on different things. 

We hope that you now have a better idea about project management, including the roles, responsibilities and salaries you can expect before taking the leap to becoming a project manager in your chosen industry.

Develop your project management career with a 100% online PRINCE2 qualification with ICS Learn today.