The 2021 Research and Markets Report highlights a stupendous 10.67 per cent CAGR growth in the project management software industry. Recent years have witnessed a growing demand for all-inclusive technologists with enviable soft skills, such as managerial and leadership qualities. This intelligent mix of talents is found in technical project managers as they pilot their company in a landscape of boundless digital transformation. Rising demand also means lucrative technical project manager salary packages. This article walks you through the reasons behind technical managers’ popularity, their crucial mix of skills, and the top salary packages they attract for the challenging portfolio. Give it a read!
Introduction to Technical Project Management
Technical project management is a hybrid offshoot of the project management field. Technical project managers bridge the gap between an envisioned project and its technical possibility in the real world. They define the technical possibilities of a project and also elucidate the resources necessary for execution. A technical project manager may be informally defined as a tech guru with leadership experience. They are the driving force behind organizational development with the ability to lead with data-driven decisions, an innovative mindset, and a strong sense of collaborative leadership.
Are Technical Project Managers in Demand and Why?
A specialized mix of leadership, organizational, and communication skills enable technical project managers to lead complex development projects. Technical project managers are in heavy demand across industries because:
- They are effective communicators between technical and non-technical professionals. This ensures every department of a company is on the same page regarding a project’s vision and understands the problems they need to address.
- Technical project managers today are extremely data-literate and leverage advances in human-machine interaction to further company goals, which makes them instruments of innovation.
- Due to their hybrid portfolio, technical project managers also foster a flexible culture that can align themselves with modern disruptive technologies, such as blockchain and data science.
The 2021 Talent Gap report by Project Management Institute (PMI) highlights that the technical management field will attract up to 2.3 million new jobs every year up to 2030, reflecting the worldwide demand for technical project managers.
Average Technical Project Manager Salary
The portfolio of a technical project manager is diverse and involves furnishing an entire array of roles. A typical day of a technical manager involves swapping through the following roles:
- Lead Technical Project Manager
- Assistant Technical Project Manager
- Technical Director of Program Management
- Technical Project Coordinator
- Technical Project Accountant
- Technical Project Scheduler
The median pay for technical project manager salary packages in the US is currently USD 102,286.
Average Salary Range Based on Knowledge and Experience
The role of a junior technical project expert involves monitoring ongoing projects, reporting project discrepancies, and their net daily progress to supervisors. After four years of experience, junior experts graduate to intermediate technical project managers and deal with complex risk mitigation and change management processes. Technical managers with over eight years of experience become eligible to segregate and delegate project roles. They also communicate current project status to senior executives and act as liaisons between the management and business units.
Here’s a list of the average technical project manager salary packages:
|Designation – Technical Manager||Experience (years)||Salary Range (USD)|
|Junior||1 – 2||59,000 – 128,000|
|Mid-level||3 – 5||70,000 – 162,000|
|Senior||7 – 10||97,000 – 250,000|
Build New Skills in Technical Project Management
As discussed before, one of the core competencies of technical project managers today is the ability to integrate all the different departments along a single vision and merge it with the defining technologies of our times. Let’s find out what are the different areas of expertise of a technical project manager:
Flexibility and Adaptability
As a technical manager, it is essential to bend pre-determined work structures and strategize newer ways to furnish project goals.
Strong Communication Skills
They are the important bridge between various participants of a project, within and outside the organization.
Problem-solving and Business Management Skills
The project development process involves numerous technical roadblocks or practical obstacles requiring strong logical and critical thinking skills.
Change Management Skills
Change management is the skill of tactfully navigating the transformation of organizational goals and technologies within a given period of time. As companies increasingly endorse digital transformation, developing this skill is central to a technical manager’s portfolio.
Efficient Team Player
To successfully turn a vision into reality, one has to simultaneously be a constant source of motivation and also anchor the present developmental stage/s with the long-term vision.
Data management, analytics, and big data are some of the most important resources behind a realistic project vision and determining its future success.
Strong business acumen will be the most important asset for a technical project manager as each organizational goal stands on the best business practices.
Machine learning helps in project optimization, risk management, and detecting code deviations in advance, making them indispensable tools for technical success.
This is a must for managers to help them gauge the architecture of programs involved in the product development lifecycle.
Budgeting and Scheduling
Technical managers collaborate with accountants to relay all the technical and non-technical details relevant to the budget.
A thorough understanding of agile project management tools, such as Scrum and JIRA, is a cornerstone of a technical manager’s career.
Technical Project Manager Salary – By Location
Here are the average technical project manager salary packages of different countries:
|Country||Average Annual Salary (USD)|
What is the Highest Salary for a Technical Project Manager in the USA?
Here is a list of the highest annual blockchain developer salary packages in the USA:
|Regions||Average Annual Salary (USD)|
|New York, NY||97,666|
|Los Angeles, CA||143,904|
Learn with Emeritus
A BLS report projects the job growth for project management specialists by 7 per cent every year between 2021 and 2031. This data is in alignment with the PMI report that predicted a whopping 88 million individuals in project management-associated jobs by 2027. So, if you are planning a major career shift or thinking about increasing your skill set, check out the latest project management courses from Emeritus.
By Bishwadeep Mitra
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