Project management is a crucial aspect of any business operation. Project managers are responsible for planning, executing, and closing projects while ensuring they are completed on time, within budget, and to the satisfaction of stakeholders. Project management is a popular career choice in Maryland, with many industries relying on project managers to lead successful projects. In this article, we will explore project manager salaries in Maryland and factors that influence those salaries.
According to data from the Bureau of Labor Statistics (BLS), the mean annual wage for project managers in Maryland was $116,650 as of May 2020. This is higher than the national mean annual wage for project managers, which was $97,630 in the same year.
The BLS also provides data on the industries with the highest employment of project managers in Maryland. As of May 2020, the top five industries were:
These industries employ a significant portion of project managers in Maryland and can offer competitive salaries.
Several factors can influence the salary of a project manager in Maryland. Some of the key factors include the following.
As mentioned above, the industry in which a project manager works can have a significant impact on their salary. Industries such as Professional, Scientific, and Technical Services, and Management of Companies and Enterprises tend to offer higher salaries than industries such as Healthcare and Social Assistance.
The level of experience a project manager has can also impact their salary. Project managers with more experience are often able to command higher salaries, as they have a proven track record of success and are seen as more valuable to employers.
Higher levels of education and certifications can also lead to higher salaries for project managers. For example, a project manager with a PMP (Project Management Professional) certification is often able to earn a higher salary than a project manager without the certification.
The location of a project manager's job can also impact their salary. In Maryland, project managers in the Bethesda-Rockville-Frederick metropolitan area tend to earn higher salaries than those in other areas of the state.
| Industry | Mean Annual Wage (2020) |
|---|---|
| Professional, Scientific, and Technical Services | $125,160 |
| Management of Companies and Enterprises | $125,050 |
| Government | $112,100 |
| Construction | $97,810 |
| Healthcare and Social Assistance | $96,560 |
Source: Bureau of Labor Statistics, May 2020
Project management is a crucial aspect of many industries in Maryland, and project managers play a vital role in ensuring projects are completed successfully. Salaries for project managers in Maryland are generally higher than the national average, with the highest-paying industries being Professional, Scientific, and Technical Services, and Management of Companies and Enterprises. Factors that can influence a project manager's salary include industry, experience, education and certifications, and location. With the right combination of skills, experience, and education, project managers in Maryland can earn competitive salaries while making significant contributions to their employers' success.
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