Project Management Fees | Hourly & Consulting Rates (2022)

Everything You Need to Know: What’s the Best and Average Project Manager Hourly Rate? What are Typical Project Management Fees?

If you’re planning to go into project management either as a full-time employee with a firm or as a consultant, how much can you expect to make? If you are an employer, HR, or hiring manager, how much should you pay your project managers?

In this article, we’ll give you complete answers to the following:

  • Project management consulting rates
  • Typical project management fees
  • Types of project management fee structure options
  • Average project manager hourly rate
  • Example of a project management fee scale

Project Management Fees | Hourly & Consulting Rates (1)

Average Project Management Fees – Percentage, Hourly Rate, Salary

Wondering what to pay for an hourly rate for project manager consultants? Interested in a full-time project management job and wondering about average salaries? Interviewing for a consulting position and want to know the average project management consultant salary?

Read on for those answers and more!

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Trends in Project Management Job Function

Few job roles can contribute as widely to an organization’s productivity as a project manager. The Project Management Institute (PMI) notes that 93% of organizations state they use standardized project management practices.

For any type of project to run smoothly, it needs expert planning and execution, and that’s the role of the product manager.

Not only is this a lucrative career, with the hourly rate for project manager consultants increasing over the last year (per 2020 DPM Salary Survey), there is a growing gap between the need for skilled project management professionals and the number of people available to fill that role.

This gap will continue to increase project management consulting fees and contribute to the role of project manager being a very promising career path.

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Project Management Consultant Job Description

The project management consultant job description can be varied according to the type of project being undertaken. Some projects involve large scale construction, in which case a project manager needs to understand how to coordinate various contractors.

Other projects are more digital in nature, requiring some expertise in business technology in the project management consultant job description.

Overall, a project manager for any type of project needs to have the following traits.

Excellent Communications

Project managers are coordinating with multiple people to get a project planned and executed on time and budget. This requires them to be excellent communicators that possess the ability to clearly and coherently state objectives and instructions, and follow up continually.

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Leadership Skills

Included in project management consulting fees is the understanding that the project manager is going to handle all aspects of a project and see it through to fruition. This required leadership skills and an attitude that “the buck stops here.”

Organizational Skills

Projects have multiple moving parts from the initial planning and analysis phase by ensuring all people being impacted by a project are properly trained. Superior organizational skills are a given in any project manager or project management consultant job description.

Example: Project Management Consultant Job Description from Indeed

We reviewed the job search engine Indeed to find an example of a project management consultant job description in a live job posting.

Project manager job responsibilities:

  • Provide input to and update program roadmaps
  • Develop and maintain processes for managing intake, prioritization, planning execution
  • Demonstrate measurable progress toward KPIs and delivery of work
  • Understand basic financial models, P/L, and cost-to-completion projections
  • Manage day-to-day operational aspects of multiple projects
  • Report findings by creating useful and appropriate data outputs and visualizations
  • Hold teams accountable to make and meet commitments
  • Track program schedule, budget, quality, and risks
  • Utilize change management techniques and processes

Experience/Education Qualifications

A review of a variety of project management consultant job description listings showed that companies typically ask for 1-3 years of past project management experience for standard project management positions.

For more senior positions, you may see requests of at least 8+ years of project management experience required.

Some project management consultant job descriptions will ask for a bachelor’s degree, but others are more interested in the skills a project management candidate has, such as Excel or technology skills.

You’ll also find that certain job postings request PMP® certification or another type of project management certification.

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What is a Project Fee?

A project fee is generally the cost paid by an organization for project management services.

Project fees are related to projects where an ongoing project management consultant salary isn’t being paid to an employee, and instead, a company is paying a fee for a project management consultant.

Project management consulting rates can vary according to the project needs, the expertise required, and the overall scope and timeline of a project.

The project management fees percentage or flat rate fee that is charged does not typically include costs for project materials, software, or other budgetary needs. Rather, it’s the direct compensation to the project management consultant.

In the case of additional expenses, like travel or hotel costs, a project management consultant may fold those costs into their overall project manager hourly rate or flat rate fee, or they may bill for them separately.

How Do You Charge Project Management Fees?

If you’re a project management consultant, or interested in becoming one, you’ll want to decide exactly how you’re going to set up your project management fee structure.

There are different approaches you can use, and you may use more than one type of project management fee scale, depending upon the type of project you’re being hired to head up.

Here are some of the standard ways to charge project management consulting rates.

Hourly Fee

Hourly project management rates are typically done if you are unsure how long a project is going to take or if the scope of the project could potentially change.

(Video) Consultant Fees - How Much Do You Charge?

An hourly rate for project manager consultants is also often used for smaller projects, where charging a percentage of the overall project cost would not make sense.

Flat Fee

A flat fee for an entire project is typically desirable for the client if they have a large-scale project because it allows them to know exactly what they’ll be paying and they can budget accordingly.

For a flat fee project management fee structure, a project manager consultant needs to accurately estimate their time and expense for managing the project so they can be sure they won’t end up making less than they expect.

It’s helpful to include a contingency in any project management fee scale agreement that includes additional compensation if the project scope or timeline is changed.

Project Management Fees | Hourly & Consulting Rates (6)

Project Manager Hourly Rate & Typical Salary

Percentage of Project

A popular fee structure for large projects and projects that can easily change in scope or timeline is charging a project management fee percentage.

Charging your project management consultant salary as a percentage of the overall project cost can ensure a fair rate if the project changes to require more oversight or a longer time commitment.

The project management fees percentage format is a standard used for construction projects.

Day Rate

Rather than charging a project manager hourly rate, a consultant can choose to charge a day rate for project management services.

This will also typically be done for smaller projects or as an add-on to flat fee contracts as a contingency for changes to the project that require more time than agreed upon.

Milestone Payments

With any of the project management fee structure options above, a project manager can also request milestone payments, so they’re not waiting until a project is completely finished before being paid.

This is often done for larger, longer-term projects. Milestones will be built in during the project planning phase, and once reached will result in a certain percentage of the overall project management consulting fees being paid.

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What’s an Average Project Management Hourly Rate?

AGS has reviewed multiple resources to bring you the most accurate information on the project manager’s hourly rate.

It’s important to note that project management consulting rates can vary according to several criteria, including:

  • Expertise type needed for a project
  • Timeline, budget, and scope of the project
  • Whether or not the consultant is certified in project management
  • Experience level of the project management consultant
  • Geographical location of the project

Salary.com

According to Salary.com, the average hourly rate for project manager consultants is between $59 to $74 per hour, with the median hourly wage being $66.00.

Upwork

On the freelancer site Upwork, the project manager hourly rate charged by consultants varies widely and is between $30 – $155 per hour.

Business 2 Community

According to Business 2 Community, the typical project management consulting fees by experience are:

  • Basic Project Management: $30 – $60 per hour
  • Intermediate Project Management: $60 – $100 per hour
  • Certified PM Practitioners: $100 – $150 per hour

We’ve averaged the various sources above to give you a good idea of the hourly rate for project manager consultants that you can charge if you’re a consultant or expect to pay if you’re hiring one.

The average project manager hourly rate is

$56.00 to $108.00 per hour.

(Video) How to Price Consulting Services: What’s Your Hourly Rate?

Example Project Management Fee Scale

When it comes to your scale for project management fees percentage, how detailed you get with your fee structure will depend upon the types of projects you typically work with.

For example, the typical project management fees for small and mid-sized projects will differ widely from large-scale construction projects or multi-location technology upgrade projects.

Whether you’re charging a project manager hourly rate or using a project management fee scale by percentage, you need to begin with an idea of the types of projects you plan to work on.

Smaller Projects – Project Management Fee Scale

If you’re working on projects that are smaller in size and cost, such as $5,000,000 and under, then you may only need to provide two or three percentage levels based upon project size.

According to Home Advisor, the average project management fees for construction project management are:

5 – 15% of the total price for small projects (less than $500,000)

5% or less for large-scale projects ($500,000 to $5 million and higher)

Larger Projects – Project Management Fee Scale

When you’re working with large scale projects, especially those connected to education or government, you’ll often find that they have pre-approved standard project management consulting fees that consultants must agree to.

These board-approved fee schedules are typically tied to construction projects; however, they can give you a general guide for creating your own project management consulting rates by percentage for large projects.

We’ve reviewed several university project management fee schedules, and here is a typical project management fee scale by the percentage of project cost:

Project Management Fees | Hourly & Consulting Rates (8)

What’s an Average Project Management Consultant Salary?

Project management consultants can choose several ways to enter this career path.

They can work for a company that provides project management services to other organizations. Or they may be hired and paid a project management consultant salary by a large organization that has project managers on staff.

The third option is to freelance and have a project management consulting business. In this case, a project manager consultant will need to factor in their business costs, self-employment taxes, etc. into the annual project management consultant salary they make.

Here are the average salary amounts you can expect to make in your role as a project manager.

Salary.com

According to Salary.com, the range of a project management consultant salary is $66,591 – $88,774 per year, with the median at $76,115 annually.

Glassdoor

Glassdoor lists an average project management consultant salary ranging from $71,000 to $138,000 annually. The average base pay for the project management consultant job description is $100,235 per year.

Digital Project Manager Salary Survey Results

The Digital Project Manager took a survey of hundreds of participants from around the world to come up with average project management consultant salary data.

Here are their findings in a few different countries on what project management fees earn for consultants in annual salary:

  • USA Project Management Consultant Salary: $32,000 – $210,000/year
  • UK Project Management Consultant Salary: ₤21,620 – ₤117,000/year
  • Canada Project Management Consultant Salary: $40,000 – $110,000 CAD/year

Average salaries for project managers in each country:

  • USA: $76,632
  • UK: ₤39,468
  • Canada: $68,869 CAD

We’ve averaged these varied resources to learn the standard project management consultant salary. If you’re working in this career field, you can expect to make:

Average salary for project management consulting of

$72,714 to $95,000 per year

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(Video) Consulting fees and rates

Conclusion | Typical Project Management Fees, Rates, and Salary

Based upon today’s current demand for project managers and the gap between that need and the number of qualified project managers available, the project manager hourly rate and salary will continue rising.

This is also a field that has plenty of room for growth and the ability to get in without a college degree and instead leverage things like technology knowledge and a project management certification.

In fact, with a PMP® certification, you can demand a higher project manager hourly rate or project fee. And as in most fields, the more experience you have the higher your project management consulting salary prospects.

We hope this AGS insight article on a typical project management fee scale, project manager hourly rate, and average salary for project management consultants has given you insight into what to expect when entering this career field or when hiring a project management consultant.

How much does a project manager make per project?

For large projects, a project management consultant will typically charge a percentage of the total project cost for the project management fee. A project that is $2,000,000 in total cost, will have an average consultant fee of 3.50%, which would be $70,000. An hourly rate for project manager consultants averages $56.00 to $108.00 per hour.

Do project managers get paid well?

The average project management consultant salary, according to an average of data from Salary.com, Glassdoor, and the 2020-2021 DPM survey of project managers is between $72,714 to $95,000 per year.

What is included in project management fees?

Each consultant can decide what to include in their project management fee scale. The project management fee will typically be the consultant’s payment for their services and additionally may include incidentals such as travel, hotel, or other expenses.

Should I charge per hour or per project?

Project management consultants will usually charge by the hour for smaller projects or projects without a clear timeline. With larger projects, it’s standard to charge per project and base project management consulting fees on a percentage of the total project cost.

Authors:Ogbe Airiodion (Senior Change Management Lead) and Francesca Crolley (Content Manager) Note: Content on OCM Solution (Formerly Airiodion Global Services (AGS))'s ocmsolution.com website is copyrighted. If you have questions, comments, or tips about this OCM Solution (Formerly Airiodion Global Services) content or product, please contact OCM Solution today.

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FAQs

How much should you charge as a project manager? ›

In this case, the project manager will charge a fee per square foot, based on the total project cost. Typically, in Austin, this fee will range between $1.50 – $3.50 per square foot.
...
3. Cost Per Square Foot.
Project CostEstimated Fee Per Square Foot
$5+ million$0.50 – 0.75
3 more rows
7 Aug 2017

What is the considered in consulting fees? ›

Consulting Fees means the consideration paid by the Company or a subsidiary to a Consultant for services. Consulting Fees shall be calculated before reduction for amounts voluntarily deferred or contributed by the Participant pursuant to this Plan.

How much is a project management consultant? ›

Hourly Wage for Project Management Consultant Salary
PercentileHourly Pay RateLocation
25th Percentile Project Management Consultant Salary$38US
50th Percentile Project Management Consultant Salary$43US
75th Percentile Project Management Consultant Salary$48US
90th Percentile Project Management Consultant Salary$52US
1 more row

What are examples of project costs? ›

Examples include taxes, general administrative expenses, cleaning services, project manager's pay, etc.

How much should I charge as a freelance project manager? ›

Cost Factor #2: Experience and expertise
Level of Project ManagerAverage Hourly Rate
Basic30-60$+
Intermediate – Advanced60-100$+
Certified PM Practitioners100-150$+

How much do project managers earn? ›

In the U.S., the median salary for a project manager is $116,000 across all industries, with most project managers earning between $93,000 and $140,000.

How do you justify a consulting fee? ›

Your consulting fees should be based on the value of your work. A number of factors influence that, including the scope of your work, your experience, and the competitive landscape.

How do you negotiate consulting rates? ›

Tips on negotiating a great consulting rate
  1. A Recent Experience. ...
  2. Tip #1: Never be the first to mention a price. ...
  3. Tip #2: Never negotiate against yourself. ...
  4. Tip #3: Don't negotiate your price until you are ready to. ...
  5. Tip #4: Establish the lowest rate you can accept and don't budge.
12 Oct 2009

How do I work out my consulting rate? ›

If you're just starting a consulting business, the best way to determine your rate is to calculate your hourly rate based on your former salary, easily done with an online salary calculator. Then do your research on freelancers in your area and look at competitor prices to see how you stack up..

What is project management Consulting? ›

A project management consultant brings specialized knowledge and skills that empower businesses to make informed decisions throughout the lifecycle of a project, from the planning stage to completion.

Is project manager and consultant the same? ›

Project consultants differ from project managers in that project consultants often work for many businesses throughout their careers, assisting one business with a specific project before moving on to another, whereas project managers are permanent employees of a single business.

What does a project manager do in consulting? ›

Consulting project managers are responsible for managing all aspects of a consulting firm's projects. They work with clients to determine what services they need, manage the consultants who will be providing those services, and ensure that everything goes smoothly once the project gets underway.

What are the four types of cost in project management? ›

Types of Costs
  • Fixed Costs: Fixed costs stay the same and do not change throughout the project lifecycle. ...
  • Variable Costs: Variable costs are costs that change with the amount of work involved with a project. ...
  • Direct Costs: Direct costs are expenses that are billed directly to the project. ...
  • Indirect Costs: ...
  • Sunk Costs:
27 May 2022

What are the 5 types of cost? ›

The 5 costs they cover are:
  • Direct cost.
  • Indirect cost.
  • Fixed cost.
  • Variable cost.
  • Sunk cost.

Why cost is important in project management? ›

Project cost management sets the baseline for project costs. Effective cost management ensures that a project's budget is on track and will be completed according to its planned scope. Without cost control, a company can easily lose money and costs can go above project profit.

How do I set my freelance rate? ›

Determine Your Baseline Freelance Rate

Start by dividing your desired annual salary by 52 (for a start). That gives you the dollar amount you need to earn per week. Then, take that amount and divide it by 40. That gives you the hourly rate you need to charge clients.

How much can a freelance project manager make? ›

Average Salary for a Freelance Project Manager

Freelance Project Managers in America make an average salary of $70,357 per year or $34 per hour. The top 10 percent makes over $112,000 per year, while the bottom 10 percent under $43,000 per year.

How do I price myself as a freelancer? ›

How to Price Yourself in the Freelance Market
  1. Don't suggest an hourly rate. ...
  2. Dealing with the “we don't have a big budget,” pickle. ...
  3. Compare and contrast, but don't undersell yourself based on the market. ...
  4. Quote yourself confidently. ...
  5. Offer your services in tiers. ...
  6. Asking point-blank if there is a budget.
31 Jul 2020

How stressful is project management? ›

Are you a stressed project manager? Not surprisingly, project management can be incredibly stressful. We're responsible for delivery on time, on budget and scope but often have to deal with limited or poorly equipped resources, unrealistic client expectations and a to-do list that could easily reach the moon and back.

How do you negotiate salary? ›

Here are eight tips for how to negotiate a salary that can help you tactfully and confidently ask for what you want.
  1. Become familiar with industry salary trends. ...
  2. Build your case. ...
  3. Tell the truth. ...
  4. Factor in perks and benefits. ...
  5. Practice your delivery. ...
  6. Know when to wrap it up. ...
  7. Get everything in writing. ...
  8. Stay positive.
7 Jan 2022

How hard is project management? ›

Project management is one of the most challenging careers as no day will be the same, and you will need all your project management skills to solve every problem. Also, you'll be the first person your team goes to when a problem occurs. They might expect you to hold the answers to any inquiry.

How much should I charge for business consulting? ›

The hourly cost of consulting fees range from about $45 to $150 per hour. Keep in mind that the fees you'll pay can vary depending on where you live, the specific services you need and whether you need one-time or ongoing consulting.
...
Small Business Consulting Fees:
National Average$399
Minimum Cost$95
Maximum Cost$1,500
26 Aug 2020

How do consultants bill clients? ›

Hourly Billing

Many consultants charge by the hour for their services. Legal consultants in particular prefer this method because the legal profession usually applies an hourly billing against client retainers.

How much do HR consultants charge? ›

For that approach, you'll likely pay a consultant an hourly fee, which generally ranges from $100 to $150 per hour.

How much are top consultants paid? ›

Starting from the base, fresh graduates (from undergrad institutions) earn an average base pay of $83,500 from top-tier consulting firms. Their performance bonuses range between $12,000-$18,000, with a signing bonus of $5,000. For entry-level hires salaries are about $83,500 on average at the top tier firms.

How do consultants negotiate daily rates? ›

If you are new to the field of consulting and have not yet had an assignment based on your daily rate, ask around for advice. Ideally, ask another consultant. If you've been employed full-time somewhere, do not divide your salary by 250 (the approximate number of working days in a year) to arrive at your rate.

How much do Big 4 consultants charge per hour? ›

Big 4 Firms

These are gigantic firms that have deep knowledge and skillsets, global footprints, and charge accordingly. Although Big 4 fees in the $90 to $160/hr range aren't unheard of, it's important to proceed with caution and be aware of the circumstances.

What percentage do consultants make? ›

As a consultant, you're taking a risk and running a business. So it's reasonable to expect a profit margin on your fees. Consultants usually mark up their fees by 10% to 33%. Since consultants tend to round to the nearest $5, our example results in $115 per hour rate.

How do you bill for consulting services examples? ›

How to Invoice as a Consultant
  1. Track Your Hours. It's common in the consulting industry for businesses to charge clients by the hour. ...
  2. Include A Header. ...
  3. Add Your Client's Contact Details. ...
  4. Include The Invoice Date. ...
  5. Number Your Invoices. ...
  6. Clearly List Your Services. ...
  7. State Your Payment Terms. ...
  8. List the Payment Due Date.

Why is project management important in consulting? ›

For consultants, project management can help improve productivity and profitability by: Improving job cost and bidding. Improving timeline and budget management. Maximizing resources (without overloading them)

Why do we need project consultants? ›

Your project consultants can give you access to teams with experience across industries. They will have direct experience with your project needs and can help fill capability gaps, giving you the knowledge and skills to deliver quality results to your clients.

Can project managers become consultants? ›

Once you have adequate skills, training and beginner's experience, you can start applying for entry-level jobs that are suitable for your skills and specialisation. Consultancy firms and professional service companies usually offer relevant employment opportunities to project manager consultants.

Is PMO a consulting? ›

What is a PMO consultancy? A consultancy is a business practice that provides expert advice to others. A PMO consultancy provides expert advice to organizations on setting up, running, troubleshooting, or closing Project Management Offices. There are many reasons why a company may hire a PMO consultancy.

How do I get into project management consulting? ›

To become a project management consultant, you typically need at least a bachelor's degree in business administration or another relevant field and project management experience. Some employers may require a master's degree, or you may need to earn an advanced degree to become eligible for career advancement.

What services do project managers offer? ›

Project management services specialize in planning, coordinating, and executing projects according to specific requirements and constraints. They perform some or all of the activities related to project work, from conceptualization to completion.

Do consultants make good money? ›

Consultancy jobs are known to be among the highest paying in the world. With the right strategies, you can secure a highly paid consultancy job for yourself.

Is consultant higher than manager? ›

Yes, a principal consultant is higher than a manager.

A manager has a broad knowledge of processes and strategy. The manager organizes and directs collaborative project efforts. A principal consultant leads and manages a project, plus is responsible for the entire delivery.

What is the role of consultant? ›

Essentially, consultants are hired to share their expertise and knowledge to help businesses attain goals and solve problems. Sometimes, companies bring on consultants to perform day-to-day work and augment or supplement staff—and save the fixed overhead costs associated with a full-time employee.

How do you estimate the cost of a project? ›

First, calculate how much time will be spent on each task on your list. Next, add a cost figure by multiplying the hours of each task with each team member's hourly rate. Once you have calculated the cost for every task, add them all up to reach an estimated total.

Is a project manager a direct cost? ›

Direct Cost are those cost that are incurred by your project. The project manager pays for these from the project budget. Costs incurred to train staff, send them to another location for a period, purchase equipment for use within the project are good examples of Direct cost.

What are the 3 main methods of cost estimating? ›

1) Expert Judgement Method. 2) Analogous Estimating Method. 3) Parametric Estimating Method.

What are the 2 main type of cost? ›

The two basic types of costs incurred by businesses are fixed and variable. Fixed costs do not vary with output, while variable costs do. Fixed costs are sometimes called overhead costs.

What are major costs of project? ›

People, Equipment, and Material Costs.

This categorization is excellent for the first pass over project resources to break them into the three major categories. Be careful about accumulating all costs, including fees, operational costs, or taxes.

Who is responsible for cost management in a project? ›

Project managers are responsible for cost project management. As part of their role, they must estimate total costs, plan the budget, monitor spend, and prepare for potential risks. A project manager must remain vigilant throughout the cost management process to ensure they stay within budget and improve profitability.

What is pricing in project management? ›

Project Pricing means a model in which you are going to estimate costs of the project, appraise its monetary worth, and bill for the project.

What are the 4 main functions of cost management? ›

While cost management is viewed as a continuous process, it helps to split the function into four steps: resource planning, estimation, budgeting and control.

How does a project manager Bill? ›

Several ways exist to charge for project management including invoicing an hourly rate, flat rate per project, retainer or consulting fee, or in phases of project completion. Research comparable project management rates so you do not undercut your fees.

How much should I charge as a construction consultant? ›

Construction managers charge a rate of 5% to 15% of the total cost of your project. Therefore, more minor renovations may cost as little as $3,100, while more extensive jobs, like building a new home, could cost as much as $49,000 or more.

How much do project managers charge UK? ›

What does it cost to hire a project manager? Bringing in a professional to take on the PM role costs between 5%-8% of your overall budget, which could run to £10,000s. So it's easy to see why some self builders view this as an ideal place to trim budgets by managing their own projects.

What does a renovation project manager do? ›

A project manager will help you determine which spaces will work best for your firm, provide preliminary budgets to help the site selection and renovation process, schedule the project from design to completion, help with building permitting and soliciting vendors, selecting contractors and hold jobsite meetings ...

How do I bill for consulting services? ›

How to Invoice as a Consultant
  1. Track Your Hours. It's common in the consulting industry for businesses to charge clients by the hour. ...
  2. Include A Header. ...
  3. Add Your Client's Contact Details. ...
  4. Include The Invoice Date. ...
  5. Number Your Invoices. ...
  6. Clearly List Your Services. ...
  7. State Your Payment Terms. ...
  8. List the Payment Due Date.

Is project management time billable? ›

As many make getting their projects in order a New Year's resolution (or goal!), I often hear that adding project management is overhead. It cannot be billed to the client. But, project management is billable. And, your clients are already paying for it.

What is billing in PMO? ›

While almost every project has a cost and budget, Project Billing only comes to life when you have a paying Customer. So what is project revenue? At Easy Projects, we use the following definition: Project Revenue (Billing) is the total amount of money a Customer pays for a project.

How do you negotiate a consulting contract? ›

Here are five tips for accurately reviewing, understanding, and negotiating your next independent contractor agreement.
  1. Define Details, Deliverables, and Deadlines. ...
  2. Know Your Bill Rate and Stick to it. ...
  3. Beware of Confidentiality or Non-compete Clauses. ...
  4. Recognize When to Walk Away. ...
  5. Involve a Professional.

How are consultants paid? ›

A consultant working as a freelancer or independent contractor typically offers several payment options, including payment by the hour, by project or on retainer. Some clients prefer to be billed by the hour. Others prefer paying by project, viewing it, perhaps, as a way to prevent consultants from padding hours.

What are construction professional fees? ›

Typically professional fees are calculated based on a reducing sliding scale. The higher the project value, the lower the percentage fee. On a project under $1M, typical fee would be at 10-15%, between at $1-5M at 5-10%, between $5-10M at 3-5%, and for projects over $10M at 3% or lower excluding GST.

Are project managers well paid UK? ›

A Project Manager in the UK earns an average of £57,500 gross per year, which is about £3,490 net per month. The starting salary of a Project Manager in the UK is around £33,350 gross per year. The highest salary of a Project Manager in the UK can reach and exceed £135,200 gross per year.

What type of project managers make the most money? ›

Here are five high-paying jobs in project management.
  • IT Project Manager. Information technology is one of the highest grossing fields in general, and the role of the It project manager is no exception. ...
  • Engineering Project Manager. ...
  • Marketing Project Manager. ...
  • Construction Project Manager. ...
  • Health Services Project Manager.

Do project managers save money? ›

Generally, a good rule of thumb is that a successful project manager will save your company more on a project than the cost of their fees, which typically equate to 3% to 5% of the total cost of the project, depending on size and scope.

Do renovations need a project manager? ›

If you're doing a huge renovation, the architect or builder you've hired will usually project manage the job and coordinate the trades and the budget. But on smaller jobs, you may want to engage a project manager. "Builders or interior designers can be hired solely to project manage a reno," says Wayd.

How do you project manage yourself? ›

How to Project Manage When You're Not a Project Manager
  1. Pick your platforms early. ...
  2. Take stellar notes. ...
  3. Be proactive about communication. ...
  4. Schedule time to project manage. ...
  5. Empower others on your team.
18 Aug 2017

Do I need a project manager for an extension? ›

While few people would attempt to build their own extension, many decide they can do without a project manager and instead attempt to coordinate the works themselves. Most of us know when we need a professional plumber or electrician but I suspect fewer people understand what a project manager does.

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