Factors Shaping Project Manager Salaries in Hungary : The Role of Certification, Experience, and Other Key Attributes

Abstract

Research on the determinants of wages remains relatively limited, particularly within Central and Eastern Europe. This study addresses this gap by examining the personal factors that influence both salary levels and overall remuneration of project managers. The investigation employed two perspectives, one centred on corporate positions and the other on the project management discipline. Data were collected from Hungarian project managers using the 11th edition of the Project Management Institute’s Salary Survey questionnaire. A total of 257 valid responses were analysed through descriptive statistics and multivariate methods. The results revealed several variables with a significant effect on salary and total compensation. In relation to salary, eight factors were identified: possession of a PMP® certification (13%), length of professional experience (2% per year), years of project management experience (1–2% per year), along with five specific job positions (21–33%). For total compensation, six key determinants were found: PMP® certification (15–16%), work experience (2% per year), project management experience (2% per year), weekly working hours (0.6% per hour), portfolio management competence (12%), non-predictive approaches such as agile, iterative or incremental methods (10–13%), and risk management competence (13–14%). These insights are valuable for project management practitioners when negotiating remuneration and also provide a basis for researchers and human resource specialists to enhance salary and benefits estimation models.