Scrum Master Vs. PMP Salary Potential

To improve productivity and success in any organization, the team should be led by Project Management Professionals (PMPs) and scrum masters. Though the duties of both professions sometimes overlap because of differences in their approaches, experts in these roles often favor one over the other. Certain approaches fit better with the companies or organizations they work for or just come quickly to some people. Some individuals go for the more profitable qualification to improve their hiring chances. Knowing the differences in duties, responsibilities, and salary can help you make the best decision when selecting a PMP and Scrum Master. In this blog, we’ll dive deeper into the nuances of Scrum master and PMP salaries.  

Who Is The Scrum Master?

A scrum master plays a crucial role in an agile team. It helps to comprehend these individuals' nature and actions to know how the agile methodology's scrum structure functions. A scrum team comprises at most ten, ideally five or seven, who collaborate in cycles to design, build, and test products. The scrum master is a skilled facilitator whose primary responsibilities include leading teams through the agile scrum process, promoting team communication, and supporting teams in managing workloads.

While working with teams, scrum masters may apply leadership techniques, although they are not managers. Some of their duties are as follows:

• Promote dialogue.
• Writing reports.
• Conduct meetings, such as sprint planning sessions and daily scrum meetings.
• Team members should be coached and assisted.
• Track developments and note areas that need improvement for upcoming work cycles.
• Monitor and evaluate the completion of the job.
• Determine which impediments are slowing down the workflow and remove them.
• Provide a setting where team members may collaborate effectively.

Who Is A Project Management Professional?

The persons in charge of a project from the beginning to the end are project managers or project management specialists. They are employed everywhere in the world and in all sectors of the economy, where their organizational, problem-solving, and team-building abilities can be helpful to a business. Project managers oversee the creation of new buildings, launch new goods, and direct marketing efforts.

The project manager bears the last say on whether the endeavor succeeds or fails. 

The following are a few of the duties performed by these experts:

• Understand the objectives for the final good or service by communicating with stakeholders.
• Specify the extent of the project.
• Make and oversee budgets.
• They are controlling groups and material assets.
• Track and assist teams in meeting deadlines while keeping an eye on targets
• Respond to issues as they come up.
• Throughout the whole project, make sure quality control is maintained.

Read More:  

• Scrum Master Roles and Responsibilities, 
• Project Manager Roles and Responsibilities in 2024,

Salary Trends For Scrum Masters

The growing popularity of the Agile technique in project management has resulted in a significant demand for Scrum Masters. The global average income for a scrum master is approximately $95,000 annually, according to Glassdoor. However, the annual salary might vary from $69,000 to $129,000 depending on the region, experience level, and qualification.

A Scrum Master's pay depends on several factors, including their level of certification (CSM, A-CSM, or CSP-SM), years of experience, the company that hired them, the number of projects they worked on, and their skill set (communication, listening, problem-solving, critical thinking, team building, etc.). Like any other career, the pay for a Scrum Master would start small and rise over time as they gained more experience.

Salary Trends For PMP Certified Professionals

The PMP® Certification should remain valid for several reasons, per the PMI report. Based on their five and ten years of experience, a PMP certificate holder makes, on average, $113,000 in base pay. An average salary for someone holding a PMP credential and certified for ten or more years is about $120,000.

One of the most excellent qualifications is the PMP, which is also the most respected in project management. Looking at the figures makes it evident why so many professionals aspire to become PMPs. Earning a high income is the main incentive for pursuing a PMP® Certification.

Also check:What is PMP Certification? A Comprehensive Guide

Factors Influencing Salary In Both Roles

Scrum Masters' Salary:

1. Location:

A Scrum Master's pay may vary significantly depending on where they work. Significant regional differences can exist in the cost of living and the need for Scrum Masters. This table illustrates the salaries in various nations.

2. Experience

Their experience may also influence the pay of a Scrum Master. Experienced Scrum Masters will likely make more money than those just starting in their professions. Scrum Masters get better at coaching and mentoring teams, resolving conflicts, and streamlining procedures as they accumulate experience.

3. Industry:

An essential factor in determining a Scrum Master's pay is the industry. Scrum Masters might anticipate higher salaries than those in sectors less dependent on Agile project management if they work in fields where the Agile approach is highly valued, like software development or IT.

4. Business Dimensions:

The compensation of a Scrum Master may also depend on the organization's size. Scrum Masters might anticipate higher salaries than those in smaller organizations if they work for larger organizations with more critical projects and larger teams.  Scrum Masters are even more important in larger organizations. 

PMP’s Salary: 

1. Title of job: 

For PMP professionals, there are various roles accessible. As a result, salaries may vary depending on the work title and duties. For instance, an Engineer Project Manager makes USD 124,434 annually, whereas a Resources Project Manager makes USD 134,577. Because these two positions in an organization have different duties, there is a big difference in the pay between them.

2. Location:

Professionals may earn different salaries depending on where they work. According to a PMI report, project management professionals in Switzerland, the US, and Australia make hefty wages. Of the countries surveyed, professionals in Egypt and Nigeria make the least money. 

3. Companies:

Professionals' salaries can vary depending on the size of your business and the scope of the tasks. More incredible organizations can compensate their valuable staff members with higher remuneration. On average, project managers at Apple make USD 184,167 per year - 73% more than the national average. 

4. Experience: 

Seniority frequently translates into higher pay. According to the PMI wage survey, the average salary for project managers varies significantly based on experience level. The average annual compensation for project managers with less than three years of experience is $75,000.

Courses That Will Help You To Increase Your Salary For Scrum Master And PMP

• Applying Professional Scrum

Work with other students in the Applying Professional ScrumTM course to solve challenging problems through a series of Sprints. Students will confront challenges like those they encounter outside of class and learn how to use Scrum to handle them. 

• Professional Scrum Master

You will get a solid grasp of Professional Scrum, an agile mentality, and the responsibilities of the Scrum Master in the Professional Scrum Master course. Teams of students collaborate with the teacher using a blend of activity-based and instructor-led learning methods in this course.

• Professional Scrum Master II 

Understanding the responsibilities of the Scrum Master in greater detail, as well as the difficulties that Scrum Masters encounter and how to overcome them by putting Scrum's core values and principles into practice to support the Scrum Team, are all covered in the Professional Scrum Master II  course.

Scrum Master Vs PMP Salary: Which Role Should You Choose?

The position that best suits your skill set and advances your career and personal objectives, whether they have to do with pay or something else entirely, is the one that's ideal for you. Consider your industry, geography, income, resources, and experience when making this choice.

• Experience: Project management experience recorded is a requirement for PMP® Certification. However, even if you've never collaborated with others, you can still enroll in and pass a CSM exam.
• Resources: As opposed to a few days for the CSM, budget several months for PMP preparation. Each exam costs roughly the same amount.
• Industry: While project managers are in almost every business, including manufacturing, construction, healthcare, marketing, and more, agile methodology and the associated scrum master certification are more common in IT and engineering.
• Region: While CSM is more prevalent in Europe, Central America, South America, and Australia, PMP is more commonplace in the US, Canada, India, Russia, Africa, and the Middle East.
• Pay: Although CSM pay varies, it occasionally exceeds a PMP's. A certified project manager's typical compensation is approximately $99,579. In contrast, a product owner, whose duties are akin to those of a scrum master, makes roughly $107,439 for the same position, depending on the region.

Check Out Here:CSM Exam Certification: A Comprehensive Step-by-Step Process

Final Verdict

There are several responsibilities for both the Scrum Master and the Project Manager. Making the difficult decision to choose between the Project Management and Scrum Master certifications requires carefully weighing the advantages and disadvantages of each. To become a project manager, you must have a Project Management Professional certification. Ultimately, a scrum master's position is a "deciding factor" in project success.
Increase your earning potential and career! Enroll in the PMP® Certification Training Course offered by Simpliaxis. Acquire the abilities companies seek, and increase your income as a qualified Project Management Professional. Enroll today to advance your career in project management!