The average salary for an assistant project manager typically ranges from $50,000 to $70,000 annually, though this can vary based on experience, location, and industry.
Curious about career paths and compensation? You’ve probably wondered, “how much does assistant project manager make?” The answer isn’t a simple number. Several factors influence their earning potential.
This role acts as a vital stepping stone in project management. Experience, location, and the specific industry each play a crucial part. Keep reading to get a clearer picture.
How Much Does an Assistant Project Manager Make?
So, you’re curious about how much an assistant project manager (APM) makes? That’s a great question! It’s important to understand the salary range for this role if you’re thinking about this career path. The truth is, it’s not a simple, one-number answer. Pay for assistant project managers depends on many things, kind of like how the price of a toy can change based on where you buy it, who makes it, and if it’s brand new or used. Let’s dive deep into what impacts an assistant project manager’s salary.
What is an Assistant Project Manager?
Before we talk about money, let’s clarify what an assistant project manager actually does. Imagine a project as a big puzzle, and the project manager is the person leading the team to put it together. An assistant project manager helps the project manager with all the tasks. They’re like the project manager’s right-hand person. They might do things like:
- Helping to create project plans
- Keeping track of progress
- Talking to team members
- Making sure tasks get completed
- Helping organize project documentation
Basically, they are learning the ropes and helping keep everything on track. They’re gaining the experience to become full project managers one day. Think of it like training to be a chef – you start by helping chop vegetables before cooking the big meals.
Factors Influencing Assistant Project Manager Salary
Now, let’s get to the heart of the matter: money! Several factors can influence an assistant project manager’s salary. It’s like a recipe – you add different ingredients and you get a different outcome. These are the main ingredients for an APM’s pay:
Experience
Just like with most jobs, experience is a big factor. A brand new assistant project manager, someone just starting out, will typically earn less than someone who has been doing the job for a few years. It’s similar to how a child learning to ride a bike gets slower at the first time and gets faster with practice. More experience usually equals a higher salary.
- Entry-Level: Usually, APMs with less than a year of experience earn the least. This is their time to learn the basics.
- Mid-Level: APMs with 1-3 years of experience will usually make more. They are now more skilled at their role.
- Experienced: APMs with 3-5+ years of experience, can typically earn the most. They may have also taken on more responsibilities and have demonstrated success in projects.
Education and Certifications
Having the right kind of education and certifications can also affect your pay. A degree in business, project management, or a related field can be helpful. Certifications, like the Certified Associate in Project Management (CAPM), show that you have the necessary knowledge and skills, it will make you different from others.
- Bachelor’s Degree: A bachelor’s degree can often be a starting point for many APM positions and it could help increase your pay.
- Master’s Degree: A master’s degree, especially in project management, may lead to higher earning potential.
- CAPM Certification: This entry-level certification can show employers that you are serious about project management and know the fundamentals.
- Other Certifications: There are other certifications that focus on specific methodologies, which can also increase salary prospects.
Industry
The industry where you work can make a big difference in your salary. For instance, assistant project managers in the tech industry often earn more than those in the non-profit sector. The reason behind this is the budget of different sectors are not the same. The demand for APMs can also vary between industries, and those in high-demand areas may earn more. Some industries that often pay higher salaries for APMs include:
- Technology: Because technology projects usually involve lots of money and are always very complex.
- Construction: A construction projects are complicated and need many people to work on them.
- Healthcare: Healthcare projects are very sensitive and very important.
- Finance: Finance sector projects involve many legalities and huge number of funds.
Location
Where you live also affects your salary. Living in a big city or a place where many companies are located can mean you earn more than living in a small town. This is because the cost of living is often higher in these cities, so companies need to pay higher salaries. For example, the same APM job in New York City will likely pay more than in a small city in another state.
- Cost of Living: Locations with higher living costs generally offer higher salaries to balance out.
- Demand: In areas with a high need for project managers, salaries tend to be more competitive.
- City vs. Rural: Large cities tend to pay more than rural areas due to higher costs of living and demand for skilled professionals.
Company Size
The size of the company can also play a part in pay. Large, well-established companies, often have more money and they might pay their APMs more than smaller companies or startups. However, it’s also important to remember that many small companies offer other great benefits, even if their starting pay is slightly lower.
- Large Corporations: They often have more resources to offer higher salaries and benefits.
- Small to Medium-Sized Companies: These companies might offer a more competitive salary and opportunities for growth and development.
- Startups: Startups may offer stock options or other perks in place of a higher salary.
Skills
Specific skills can also affect your salary. If you’re very good at using project management software, or if you have experience in a certain methodology (like Agile), you might make more. Specific skills could be:
- Communication Skills: Ability to communicate clearly and effectively with team members and stakeholders.
- Organizational Skills: Keeping track of project plans, tasks, and deadlines efficiently.
- Software Proficiency: Experience with project management tools like Asana, Jira, or Microsoft Project.
- Agile and Scrum Methodologies: Experience working in agile teams can be very valuable.
Average Salary Ranges for Assistant Project Managers
Okay, so with all these factors, what is the typical salary range? While there isn’t an exact number, we can take a look at averages. Here’s a general idea of what you can expect.
Entry-Level APM Salary
An entry-level assistant project manager, who is just starting out with less than a year of experience can expect an average salary of around $45,000 to $60,000 per year. This can vary depending on the other factors like the location and industry that we have talked about above. This is the beginning of the journey, so the pay is often lower, and experience is more important. It’s like getting a practice salary while you learn to walk in the field of project management.
- Range: $45,000 to $60,000 per year
- Experience: Less than 1 year
Mid-Level APM Salary
After getting some experience, mid-level assistant project managers, who have around 1 to 3 years of experience can expect an average salary of around $60,000 to $75,000. You’ll be more efficient, and will be able to handle more responsibilities, which is why your pay increases. Your skills are getting better, so your pay increases to match your knowledge and ability.
- Range: $60,000 to $75,000 per year
- Experience: 1 to 3 years
Experienced APM Salary
An experienced assistant project manager who has worked for 3 to 5+ years may earn from $75,000 to $90,000 or higher. Those who have the right skills, work in the right industries, and have proven themselves over time are compensated well. These are the top professionals that every company seeks, and their experience makes them more valuable. This is like getting the main prize after practicing a lot and getting better at what you do.
- Range: $75,000 to $90,000+ per year
- Experience: 3 to 5+ years
Note: These salary ranges are estimates and can vary a lot based on all the factors we discussed. So, it’s always a good idea to research specific companies and locations to understand what the market rates are like.
How to Increase Your Earning Potential as an Assistant Project Manager
Now that you have an idea of what you can make, let’s talk about how you can earn more. Here are some ways you can increase your earning potential as an assistant project manager:
Invest in Education and Certifications
Getting the correct education and certifications can be a game-changer. A bachelor’s degree is great, but a master’s in project management can set you apart. And you should not forget about certifications like CAPM, which can show you know the key information and skills.
- Pursue higher education: Consider a master’s degree in project management or a related field.
- Get certified: Look into certifications like CAPM and other relevant credentials.
Gain Experience
Experience is the most valuable teacher, so make sure you gain experience in the field of project management. The more projects you work on, the more you learn, and the higher your earning potential gets. Take on projects, help out whenever you can, and don’t be afraid to get involved in the project, because practice makes you perfect.
- Seek out challenging projects: Try to work on difficult projects that can help you learn and improve your skills.
- Take on more responsibility: Offer to take on more work and show you are capable of handling it.
Build a Strong Network
Networking is an important part of any field. Connect with project managers, people in related jobs, and your team members, because it can provide new opportunities and valuable advice. Go to industry events, connect with people on LinkedIn, and make friends in the field, because they are all very beneficial to your career.
- Attend industry events: Connect with people in the field and get to know new opportunities.
- Connect on LinkedIn: Expand your professional circle by connecting with others on LinkedIn.
Develop In-Demand Skills
Companies are looking for project managers that have specific skills. Therefore, it is important to learn new skills that are important to project management, because this will make you more valuable. For example, you could focus on agile methodologies, software proficiency, and communication.
- Learn Agile and Scrum: Become good at these project management approaches.
- Become Software Savvy: Master different project management software and tools.
- Improve Communication Skills: Learn how to talk clearly and effectively to everyone, this will make you very valuable.
Negotiate Your Salary
Don’t be afraid to negotiate your salary, when you know your worth, then ask for it. Research what others are earning in your role and in your location, so you can make sure you are not being underpaid. Know your value, and do not settle for less than what you are worth.
- Research market rates: Know what the average pay is for APMs in your location and industry.
- Show your value: Highlight your accomplishments and skills during salary negotiations.
In short, the salary for assistant project managers varies a lot based on different factors. However, by understanding these factors, you can plan ahead and increase your earning potential. Remember, this is a job with growth and opportunity to earn more. So, work hard, gain experience, learn new skills, and be the best APM you can be!
Day in the life of an Assistant Project Manager
Final Thoughts
Assistant project manager salary varies based on experience, location, and industry. Entry-level positions generally offer a lower compensation package, while those with more experience can expect higher pay. The size of the company also impacts this, bigger firms sometimes pay more.
Therefore, how much does assistant project manager make? The national average falls in a specific range, but it is always best to research specific job postings. Averages can only give a general sense of the earnings potential and are not an exact representation for every position.