WHY ARE IT PROJECT MANAGERS PAID THE HIGHEST SALARIES IN CANADA?

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WHY ARE IT PROJECT MANAGERS PAID THE HIGHEST SALARIES IN CANADA?
WHY ARE IT PROJECT MANAGERS PAID THE HIGHEST SALARIES IN CANADA?

Editorial Staff Saleprof

Date: 03.08.2018

The world of information technology is growing at a phenomenal rate. As per the Toronto Stock Exchange, the technology and innovations sector has grown faster than any other exchange since 2013. This bodes well for the 488,000 professionals employed in the IT sector, while also paving the way for numerous IT jobs in Canada. The IT industry in Canada introduced 11,500 jobs in the year 2017 with majority of them being in Toronto and Montreal. Amongst the highest paid and continuously in-demand roles in IT is that of a Project Manager’s. While there are numerous types of IT specialists that make up an IT team in an organization, our recruitment experts list the reasons why a Project Manager is considered to be the most important role and hence, the highest paid too.

Understanding the Role of an IT Project Manager

The responsibilities of a Project Manager are spread across different areas of information technology. According to a research by Project Management Institute, for every $1bn invested in in businesses in the West, around $122mn is wasted due to lack of competent project managers — making this profile integral to business success. To understand, think of an IT Project Manager as a geek with sufficient emotional intelligence and people skills. Finding this combination in the IT Industry can be a challenging task, especially in Canada where there is dearth of skilled IT professionals. This is because even though most of the techies are highly skilled at using the different tools in information technology, their people skills lack the same quality.

Why is Project Manager the Highest Paid Role in Canada?

The annual salary of an IT Project Manager in Canada ranges from $92,000 to $114,000, which makes one wonder why the role is considered so important. Even contractual IT project managers command a wage rate of $100/hour. While the importance of developers, analysts, and software engineers cannot be doubted, it is essential to understand that the success of the entire project depends on the Project Manager. This individual is responsible for delivering success while ensuring effective planning and collaboration.

Duties of a Project Manager

To get an idea of what the job entails, we have divided the role of an IT Project Manager into four major responsibilities. These include:

Creating a Single Direction

The Project Manager acts as the voice of the IT department of a company. As a Project Manager, it is your responsibility to ensure the development of goals and a vision. This is done by carrying out a thorough research about the market trends and coming up with SMART goals, defining a scope of the project and planning a timeline to achieve it within. After this is done, the Project Manager is also responsible for breaking the team down into different roles and overlooking the entire team of analysts, developers, and other vital functions.

Communicating the Objectives

Once the direction has been established, the Project Manager is also responsible for communicating and establishing an understanding of the different roles needed for the project. This task requires the individual to be a negotiator, shrink, as well as a manager since there are different types of IT professionals involved. Communicating every individual’s responsibility and motivating them to work is something that requires a significant amount of people skills.

Bringing Everyone on the Same Page

Without collaboration, it is difficult for a project to witness success. It is yet again the responsibility of a Project Manager to make sure that all the team members are completely aware of what the others are doing and what stage of the project they are on. A lack of collaboration can severely impact the length as well as the quality of the project.

Problem Solving

During the project, it is natural to run into obstacles and problems. These issues are to be addressed by the Project Manager, and a timely solution is expected. Therefore, as a Project Manager, you will be monitoring the progress of the entire project at every stage and will be expected to identify a potential loophole or bottleneck as soon as it appears. Not only that, but you will also need to come up with a solution that does not severely affect the pace of the project.

Bottom Line

Being a widely known Tech hub, Canada is engaged in continuous development and progress. It is, therefore, no surprise that Canada is home to many high-skilled tech workers. Business owners in Canada realize the value of IT Project Managers, and such individuals are therefore considered to be one of the highest paid professionals.

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