When considering a career in project management, one of the most essential factors to consider is your potential salary. If you’re wondering about PMP Certification Salary in India, this is the place for you! But what exactly is it, and what kind of salary can you expect once you earn it? PMP (Project Management Professional) certification is a globally recognized certification that can help you climb the corporate ladder and earn a higher salary. The following article provides all the information you need about PMP certification salaries in India.
What is PMP Certification?
The PMP certification is regarded as the gold standard in project management. PMP Certification, a credential recognized by the Project Management Institute (PMI), helps validate your skills and qualify you for future career opportunities.
ProThoughts Solutions PMP Certification training is widely popular among the participants. To excel in your PMP Certification, It offers innovative delivery with game-based interactive methodology and post-training support.
How does PMP Certification in India benefit you?
In India, PMP certification is a valuable asset for project managers. It helps them to demonstrate their expertise in the field of project management and enhances their credibility. Getting a PMP certification in India offers the following benefits:
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Better job opportunities
PMP Certification opens up new job opportunities for project managers in India. As a result, they stand out from the crowd and are more attractive to employers. According to a survey by PMI, 71% of employers in India prefer to hire PMP-certified project managers.
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Higher salary
PMP certifications are among the highest-paying certifications available. In India, PMP-certified project managers earn an average salary of INR 16.3 Lakhs, which is higher than the average salary of non-certified project managers.
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Improved project management skills
An effective project manager will possess the necessary skills and knowledge through PMP certification. It covers various aspects of project management, such as project planning, execution, monitoring, and control. PMP-certified project managers are better equipped to handle complex projects and deliver results on time and within budget.
Overall, PMP certification can be an excellent investment for your career, providing you with skills, better opportunities, and higher salaries.
PMP Average Salary in India
In India, the average PMP project manager salary is INR 16.3 Lakhs. However, the compensation may vary depending on various factors such as experience, industry, location, and company size.
According to PayScale, the PMP project manager’s salary in India ranges from INR 7.0 Lakhs – INR 36.0 Lakhs. Additionally, the PMP certification salary may vary based on the project manager’s level, such as senior project manager or program manager.
Factors that affect Project Manager Salaries in India
Several factors affect the salary of project managers in India. Elements to include the following:
1. Experience
Experience is one of the most critical factors that affect the PMP certification salary in India. Project managers with more experience earn higher salaries than those without experience.
2. Industry
Depending on the industry and the companies that operate within it. However, the average salary for PMP professionals in India may vary; the salary essentially depends on the revenue produced by each.
3. Location
In India’s manufacturing sector, the location affects the PMP professional compensation. Because of the dependence of these businesses on their base for success variables, such as the ease of resource procurement. However, there are variations in pay scales between industries.
4. Company size
A project manager’s salary in India depends on the organization’s size. Salaries for project managers in larger companies are generally higher than those in smaller firms.
Overall, PMP project manager salary in India can vary widely depending on the above factors.
PMP Salary Based on Cities in India
PMP-certified project managers in India earn different salaries depending on where they live. Following are some of the cities in India and their respective average PMP salaries:
1. Mumbai
Mumbai is one of the most popular cities in India and is home to several multinational companies. PMP Certification in Mumbai is ideal for professionals who are ready to move up the career ladder.
PMP-certified project managers in Mumbai earn an average salary of INR 12.0 Lakhs. According to PayScale, the PMP project manager’s salary in Mumbai ranges from INR 4.5 Lakhs – INR 25.0 Lakhs.
2. Delhi
Delhi is the capital city of India, home to several government organizations and multinational corporations, and the demand for PMP Certification in Delhi is high.
PMP-certified project managers in Delhi earn an average salary of INR 9.6 Lakhs. According to PayScale, a PMP project manager’s salary in Delhi ranges from INR 4.0 Lakhs – 24.0 Lakhs.
3. Bangalore
Silicon Valley of India is known as Bangalore and is home to several IT companies. There is a growing demand for PMP Certification in Bangalore as professionals seek to learn more skills & updated project management practices.
PMP-certified project managers in Bangalore earn an average salary of INR 15.4 Lakhs. According to PayScale, a PMP project manager’s salary in Bangalore ranges from INR 5.0 Lakhs – 30.0 Lakhs.
4. Pune
Pune is a growing city in India, home to several automobile and IT companies. With PMP Certification in Pune, you can obtain high-paying jobs, which is a major advantage. An international credential such as the PMP Certification can validate your skills.
PMP-certified project managers in Pune earn an average salary of INR 14.0 Lakhs. PayScale says a PMP project manager’s salary in Pune ranges from INR 4.8 Lakhs to 28.0 Lakhs.
5. Hyderabad
Hyderabad is known as the Pearl City. Most multinational corporations and software companies are based in Hyderabad, so PMP Certification in Hyderabad is in high demand.
In Hyderabad, PMP-certified project managers can expect an average salary of INR 15.8 Lakhs. According to PayScale, the PMP project manager’s salary in Hyderabad ranges from INR 4.0 Lakhs – 25.6 Lakhs.
Therefore, these approximate salary ranges may vary based on experience, industry, location, and company size. Additionally, other cities in India may have different salary ranges. So, by taking ProThoughts PMP Certification Online Training, you’ll gain valuable knowledge and insights and help you advance your career.
Salary of a PMP in India based on the industry
PMP-certified project managers in India also receive varying salaries according to their industries. The following are some of the sectors in India and their respective average PMP salaries:
1. IT industry
Project managers with PMP certifications working in the IT industry earn an average salary of INR 1,900,000 annually, making it one of India’s fastest-growing industries.
2. Construction industry
In India, the construction industry is one of the fastest-growing sectors, and PMP-certified project managers earn an average salary of 1,700,000.
3. Engineering industry
A PMP-certified project manager in the engineering industry earns an average salary of INR 1,600,000 annually in India.
4. Banking and Finance
In India’s banking and finance sector, PMP-certified project managers can expect an average compensation range of INR 1,000,000 to INR 2,500,000 per year.
PMP Salary in India based on the companies
A PMP Certification salary varies in India based on the company. The following are some of the companies in India and their respective average PMP salaries:
1. Tata Consultancy Services (TCS)
One of India’s biggest IT companies is Tata Consultancy Services and PMP-certified project managers working for TCS earn a PMP average salary of INR 1,900,000 per annum.
2. Wipro Technologies
Wipro Technologies is another IT company in India, and PMP-certified project managers working for Wipro Technologies earn a PMP average salary of INR 1,800,000 per annum.
3. Larsen & Toubro (L&T)
Larsen & Toubro is a multinational company that operates in various industries such as construction, engineering, and IT. Moreover, PMP-certified project managers working for L&T earn a PMP average salary of INR 2,000,000 per annum.
Comparison of PMP Salaries by gender in India
The gender pay gap is still prevalent in India, and PMP-certified project managers are no exception. According to a survey by PMI, male PMP-certified project managers in India earn an average salary of INR 1,900,000 per annum. In contrast, female PMP-certified project managers earn an average salary of INR 1,500,000 annually.
India’s PMP Bonus and Incentive Rates
Following are some general ranges for bonuses and incentives in India:
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Performance-based bonuses
Many companies in India offer performance-based bonuses for PMPs, ranging from 5% to 20% of the individual’s annual salary, depending on their performance as well as achievements.
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Project-based incentives
Besides bonuses, some companies offer project-based incentives for PMPs. Furthermore, incentives can range from a few thousand rupees to several lakhs depending on the success of the project.
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Annual bonuses
Several Indian companies offer yearly bonuses to employees, which can be a percentage of their salary or a fixed amount. Moreover, It depends on the company’s financial performance and each employee’s performance to determine the rate or amount.
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Stock options
Some companies in India also offer stock options as an incentive to their employees. When the company performs well in the future, employees can purchase stock at a discount price.
Different companies within the same sector or industry may also offer additional bonuses and incentive rates. Moreover, PMPs need to research the market and negotiate fair compensation packages that include bonuses and incentives.
Can PMPs in India Expect a Salary Increment in 2023?
In India, project managers with PMP certification will earn higher salaries in the coming years. The need for project managers with PMP certification is expected to grow by 25% over the next five years, as per a PMI survey. Additionally, more than 50% of Indian companies plan to increase the salaries of their PMP-certified project managers shortly.
Furthermore, there could be an increase in job opportunities and PMP salary growth. However, it’s important to note that the pace of salary increment and job growth may vary across different industries and sectors.
Conclusion
In summary, the PMP certification can enhance the earning potential and career advancement of project managers in India. The salary of PMP-certified project managers in India varies depending on factors such as industry, experience, location, and company size. However, PMP-certified project managers in India can expect an average salary of INR 1,800,000 per annum. With the demand for PMP-certified project managers expected to increase in the coming years, PMP certification is an excellent investment for project managers in India.
Lastly, To learn more about PMP certification and how it can help you advance your career, check out the ProThoughts PMP training course.
