IT Project Manager Salary in Chennai

In this day and age, project managers are needed in a variety of industries, including finance, construction, manufacturing, and Information Technology. The demand for project managers in these fields is always at the peak with continuous growth in society. 

Project managers jobs are one of the highest income jobs in Chennai. It is because India soon is going to become the second-largest producer of Project management jobs in the world. 

What is Project Management?

Project management is the entire process of managing a project from the consumption of the basic idea to the completion of the project. The main stages of project management include idea generation, creation, execution, and project completion.

In addition, the project management has to further extrapolate team management, integrate, control, and assess risk. Depending on the project and the need of the customer, a specified deadline is proposed to initiate and complete the project. A project can be as simple as an automation process at the company level or collaboration with clients, stakeholders, or vendors, however, the main aim of this process® is to maintain discipline that helps companies achieve the deadline through multiple workflows.

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Who is a Project Manager?

A project manager is the main lead of the ongoing project and has to ensure that the project is completed on time. Project managers can be considered the catalyst for project completion. A Project manager has to ensure that each phase of the project meets its requirements. It is the responsibility of the project manager to plan and maintain the budget, execute, monitor, and control the project successfully. 

The most significant role of a project manager is to manage the scope of the project, tasks, infrastructure, materials, and reports. The project manager must also possess the skill to identify and mitigate potential risks. The Project manager is the person who is responsible for the success or the failure of the project. The project manager must also be competent to meet the goals of the project and have a systematic and efficient approach to managing the project with minimal errors. 

Why Project Management?

Apart from receiving a high-paid salary, there are many other reasons why you can consider becoming a project manager. Some of these include:

• High job satisfaction with rewarding points as compared to other job profiles.
• Increase in demand for Project Managers. In this case, the PM can select projects according to what suits them.
• Exposure to a vast variety of fields. It includes Information Technology, Infrastructure, Manufacturing, Healthcare, Telecom, Gas, Oil, and so on.
• Constant growth in this industry. There is a lot of exposure to various personnel and cultures, which can help in both personal and professional growth.
• Development of leadership, management, and risk assessment skills. 

Responsibilities of Project Managers

Some of the roles and responsibilities of a project manager include:

• Defining and Determining the objectives, scope, and requirements of the project.
• Estimate resources in an effective and efficient way to look at how much is required to reach the given objective.
• Create a budget based on the requirements of the resources and scope of work.
• Trace all the costs of the project
• Create and manage a planned project
• Provide constant updates regarding the project to stakeholders.
• Direct contracts with suppliers and vendors by providing them with assignments and tasks.
• Ensure maximum utilization of the company’s standards, techniques, and practices.
• Closely evaluate the progress and make changes accordingly.

Project Managers Qualifications

To become an IT Project Manager, candidates need to have the following qualifications:

• Diploma or Certificate in Project Management
• A Bachelor’s degree in business, computer science, or any other related field 
• Minimum 5 years of relevant work experience in the field
• Ability to come up with effective and creative solutions for any type of problems
• Through fundamental understanding of project management methodologies, software tools, and practices.

Factors Influencing The Salary for Project Managers

Given below are some of the factors that influence the salary of a project manager:

• Experience: Project managers who have experience, earn a higher amount than as compared to first-time managers. 
• Location: This also plays a vital role in the income of the project manager. If a manager is hired for a project in cities such as Mumbai, Hyderabad, Bangalore, etc. they will be paid a much higher income as compared to managers managing projects in tier 2 cities of India. 
• Skills: The project managers should efficiently use the skill sets they possess. This will help them optimize their work, making it easier to reach targets and goals. Hence, improving their performance. It will benefit them in earning a higher income. 
• Company and Sector: The salary of the project managers also depends on the type of company they choose to work for. Their decision to work in a particular sector also impacts their salary on a higher scale. The bigger the company, the higher the income. The sector where demand is more also pays high pay to the project managers.

IT Project Manager Salary in Chennai

As of March 18, 2021, the average IT Project Manager salary in Chennai is Rs.946,658, but the range generally lies between Rs.620,156 and Rs.1,281,302 [ref.]. Salary ranges depend on a variety of factors, including PMP Certification In Adelaide, additional skills, education, and the number of years you’ve worked in your field. However, as of April 23, 2022, the salary of an IT Project Manager in Chennai ranges from Rs. 7.7 Lakhs to Rs. 24 Lakhs per year, with an average of Rs. 15 Lakhs[ref.]. It should have given you a better estimate of salary after you take the best PMP® certification training in Chennai.

Conclusion

In today’s time, an IT Project Manager has been in high demand. Project Management is a rapidly growing domain. It is an equally important asset in a business as compared to every other employer. For businesses to handle new and unique ideas, they need to have a project manager. A Project Manager can be trusted with turning an idea into reality if the professional is well-versed in the relevant skillset.