Project Manager and Business Analyst Pay – 2016
At Focus we are regularly asked about the salary prospects associated with different career paths and qualifications. We’ve been researching the latest data on project manager and business analyst pay.
The headline is that according to PayScale the median pay for PMs at £43,611 is 15% higher than that for Business Analysts at £37,866.
However we all know that for any individual it is not the average (or median) which counts. As you take a more granular approach the trends and differences are less clear. There are many different types of PM and BA role. The spreads below from empahsise that PM roles in the IT sector are amongst the better paid.
There is also considerable spread depending on experience. From £38k to over £55k for the sample of project managers analysed. For BAs the spread recorded was from £34k to £49k.
Pay by Experience Level – IT Project Manager
Pay by Experience Level – IT Business Analyst
Then of course there can be big differences depending on where you work. The variation is follows a similar pattern for both project managers and business analysts, though the spread is more marked for BAs. London salaries for Business Analysts are 17% above the national average.
In terms of longer term trends in demand it’s the BAs who win out. The following charts track the share of IT job ads citing “project management” or “business analyst” as tracked by itjobswatch.co.uk.
Proportion of Jobs advertised citing PM
Proportion of Jobs advertised citing BA
The 2016 Survey of over 2,000 project management professionals recently undertaken by Arras People provides additional insights. Confidence levels amongst respondents were little changed from prior years. 40% expected no change in remuneration in 2016 and 28% expected no more than 2%. Those working in the public sector were more pessimistic.
The survey provides a good analysis of the spread of salaries and contractor day rates according to job role.
Project & Programme Management Salary & Remuneration by Role
Those looking to progress up the PPM jobs ladder would do well to explore popular certification courses:
PRINCE2 Foundation & Practitioner
MSP Programme Management
MoP Management of Portfolios
Agile Project Management