Project Management

The 2024 Guide to Manager Salaries

Dovile Miseviciute ·

Passionate content marketer looking to bring better solutions to the project management space. 2020 - Present Marketing specialist at Teamhood. 2014 - 2020 Marketing manager for Eylean.

guide to manager salaries

It is in human nature to be curious about other people, and that is no different when it comes to learning about the salaries of those doing the same job as you. In fact, such information can be quite useful when entering a new position, or company, or simply negotiating your compensation.

To help you navigate the complex field of manager salaries, I looked at the data and compiled it into the following guide. Continue reading to see how the industry, seniority level, and the country you work in may affect your compensation.

If you wish to see a specific section, use the table of contents below; otherwise, let’s dive in.

The guide to manager salaries in 2024

While you can easily check the compensation averages for specific positions, we rarely get to see them compared side by side. This is exactly what you see before you – a side-by-side comparison of the same position across different industries, seniority levels, and countries. All of the values represent yearly averages and have been converted into euros for easy reading.

Keep in mind, though, that there are multiple factors contributing to the salaries paid in different companies. Information below represents overall averages which may not be factual to each situation.

The data sources

All of the data in this post is pulled from sources such as Glassdoor, Indeed, and Zippia. Where not specified otherwise, the data displayed encompasses the Western markets. The averages have been calculated based on the information from 2023 onwards, thus representing the freshest information possible and giving us a good understanding of what to expect in 2024.

manager salaries

Manager salaries averages by seniority level

To give some additional data on the expected manager salaries, we have also pulled some general data. Below, you will find expected compensation based on criteria such as the seniority level, years of experience, industry, country, and education level. Thus, giving you some additional perspective on the individual trends related to these factors.

When it comes to manager salaries, there are three seniority levels to consider – manager, middle manager, and senior manager/director. Manager salary being the entry-level compensation, averages €50,000 per year, whereas mid and senior-level managers can expect €64,000 and €85,000 accordingly. Interestingly, there is quite a gap between the median and the 25% exceeding compensation averages. This means you can get compensated like a mid-level manager while being a junior if you work in a company with higher compensation packages.

Seniority LevelMedian Compensation (€)Top Quartile (€)
Manager€50,000€70,000
Mid€64,000€86,000
Senior€85,000€113,000

The increase in compensation between the seniority levels does get bigger as the seniority level grows. Regarding median compensation, it is 28% progressing from junior to mid manager and 32% progressing from mid to senior manager. The trend is even more noticeable at the high end of the compensation spectrum – with 22% and 31%, respectively.

Manager salary averages by years of experience

Another aspect of evaluating the manager salaries is looking at the years of experience in the field. However, the differences here are much smaller compared to the ones based on seniority levels.

According to the data, you can expect an increase of around 7% after being in the field for three years and an increase of 9% after spending seven or more years in the position. As we can see, those who wish for better compensation should focus on increasing their expertise and seniority level, as little difference can be expected from years of experience alone.

Years of ExperienceAverage Salary (€)
0-3 years€68,000
4-6 years€73,000
7+ years€80,000

Manager salaries averages by industry

The next criterion we should look at when comparing manager salary averages is the industry the person is working in. The salary averages can differ quite a bit depending on which sector the company is in. As you can see below, for example, the difference between an average manager salary in the IT and Construction sectors is over €60,000 per year.

Generally, you can expect to earn a higher yearly average in more prominent sectors such as technology, healthcare, finance, and engineering. Whereas industries such as marketing, human resources, and operation management will yield lower compensation averages for managers.

IndustryAverage Salary (€)
Technology€127,500
Healthcare€110,500
Finance€100,800
Logistics€94,000
Engineering€93,500
Manufacturing€84,000
Operations€79,650
Construction€66,400

Manager salary averages by country

One more factor that determines the average manager salary is the location of the company. Depending on where you work, you may expect an increase in compensation of up to 40%. Keep in mind though that higher compensation averages often also mean higher living costs and thus must be factored into your decision.

In the table below, you can see the top 14 manager salaries around the world. Switzerland and Luxembourg are at the very top of the list, and they offer the highest compensation. At the same time, both of these countries are listed as one of the top 10 most expensive countries in the world. Meaning the higher living costs will have to e taken into account when evaluating the average salary.

CountryAverage Salary (€)
Switzerland€78,731
Luxembourg€73,657
Iceland€72,047
United States€61,331
Netherlands€60,923
Belgium€59,100
Norway€58,975
Australia€57,918
United Arab Emirates€57,799
Ireland€52,872
Germany€51,278
New Zealand€51,218
United Kingdom€49,508
Canada€49,103

Overall, we can see that the highest average manager salaries can be found in Europe, North America, the United Arab Emirates, Australia, and New Zealand. Making these the most desirable regions for those looking into new positions.

Manager salary by the education level

Lastly, let’s take into account the education level when evaluating the average manager salaries. As you can see, higher education plays quite an important role in compensation.

  1. Bachelor’s Degree: The average annual salary for a manager is around €62,250.
  2. Master’s Degree: The average annual salary increases to approximately €74,920.
  3. Ph.D. or Doctorate: The average annual salary reaches about €87,750.

While the averages will differ from field to field, it is safe to say that having higher education is an advantage when it comes to the manager salary negotiation. If additional education is something you are considering, such a division may help you make the decision.

Manager salaries – what to expect

When considering what manager salary to expect or negotiate for, the most important factors are seniority, industry, and education. As we can see from the data above, these criteria have the highest effect on salary increases and changes.

While it is not a finite list of what should be judged when deciding on compensation, it is a good starting point for those looking into new possibilities and positions.

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