Project Manager

Full profileYour role

Also known as Project coordinator · Project expediter · Project leader · Projects manager

and 2 more

Senior project manager · Special project manager

L3 salary: Not published yetSalary figures open with the salaries section.
Upcoming dated changes: 1 change aheadNext: 1 Jul 2027
Where the changes come from
Each change in the Regulatory calendar comes from an official text, linked on its page.
A change affects this role directly when it names a process that is one of the role's main tasks.
Top critical skills: Project planning and dependencies
Risk and issue management (RAID)
Project governance and reporting

What the role does

A Project Manager plans and runs a project so that it delivers an agreed result on time, within budget and at the expected quality. The role sets up the plan and dependencies, manages risks, assumptions, issues and dependencies (RAID), tracks budget and progress, and reports to sponsors and steering committees. Project managers work across industries with waterfall, agile or hybrid methods. Common certifications include the Project Management Professional (PMP) from the Project Management Institute (PMI) and PRINCE2.

Read a day in the life

A day in the life

The project manager opens the day by checking the plan for a system replacement project two months from go-live. Overnight, the vendor reported a delay on one interface, so the first call is with the technical lead to understand the impact on testing. The manager reworks the dependency chain and finds that user testing can start on schedule if the interface is tested in a second wave. Late morning goes to the weekly status meeting with workstream leads: progress, risks and decisions needed. One risk, a key tester leaving, moves to an issue and gets an owner and an action. After lunch the manager updates the budget forecast with finance, since extra vendor days were approved last week. Mid-afternoon brings a call with the sponsor to agree the message for the steering committee and to request a decision on scope. The day ends with updating the RAID log, sending meeting minutes and preparing the steering committee pack for Thursday.

Levels

L1 Starting out 0-2 years
L2 Independent 2-5 years
L3 Senior or specialist 5-9 years
L4 Leads a team or an area 8-14 years
L5 Leads the function 12+ years

Full level descriptions and job titles

The EFO level names are the common scale; job titles differ between employers.

Levels of Project Manager
Level	What the work looks like	Typical years	Typical job titles
L1 Starting out	Project coordinator or junior project manager. Maintains plans, logs and minutes for a small project or workstream and learns planning, governance and reporting under supervision.	0-2	Banks: Analyst, Junior Analyst, Associate (asset servicing), Trainee, GraduateAsset servicers: Junior, Specialist (entry), Officer
L2 Independent	Runs small and medium projects end to end: plan, budget, RAID log and status reporting, and is the main contact for the project team and the business owner.	2-5	Banks: Analyst / Senior Analyst, AssociateAsset servicers: Specialist, Senior Specialist, Senior Officer
L3 Senior or specialist	Senior project manager. Leads complex or high-risk projects across teams and vendors, handles difficult trade-offs on scope, time and cost, and coaches junior project managers.	5-9	Banks: Senior Associate, AVP, Assistant ManagerAsset servicers: Senior Specialist, Expert, Team Lead (small team)
L4 Leads a team or an area	Leads a group of projects or a delivery team, owns governance, budget and resourcing across them, and is the escalation point for sponsors on delivery risk.	8-14	Banks: VP, Manager, Senior ManagerAsset servicers: Team Lead, Manager, Head of Section
L5 Leads the function	Head of project delivery or portfolio. Accountable for project delivery across a function or region, sets methods and standards, prioritises investment and reports to senior management.	12+	Banks: Director, Executive Director, Managing Director, Head of functionAsset servicers: Head of Department, Director

Skills

The percentage is the skill's share of the role; the bars are drawn relative to the anchor skill, which is shown full.

Critical 4

The job cannot be done without these.

Project planning and dependenciesWeight 14.0%Anchor skillExpected level: practitionerRelevant to you
Risk and issue management (RAID)Weight 9.3%Expected level: practitionerRelevant to you
Project governance and reportingWeight 9.3%Expected level: practitionerRelevant to you
Project budget managementWeight 9.3%Expected level: practitionerRelevant to you

Important and supporting skills 18

Important 9

Needed in most positions.

Stakeholder managementWeight 4.7%Expected level: practitionerRelevant to you
Change management and adoptionWeight 4.7%Expected level: practitionerRelevant to you
Agile delivery (Scrum, Kanban)Weight 4.7%Expected level: practitionerRelevant to you
Project tools (Jira, Asana)Weight 4.7%Expected level: practitionerRelevant to you
Effort estimation and capacity planningWeight 4.7%Expected level: practitionerRelevant to you
Professional written communicationWeight 4.7%Expected level: practitionerRelevant to you
Prioritising with incomplete informationWeight 4.7%Expected level: practitionerRelevant to you
Leading without formal authorityWeight 4.7%Expected level: practitionerRelevant to you
Vendor and service contract managementWeight 4.7%Expected level: practitionerRelevant to you

Supporting 6

Help in many positions.

Requirements gathering and documentationWeight 2.3%Expected level: working knowledgeRelevant to you
Business case and cost-benefit analysisWeight 2.3%Expected level: working knowledgeRelevant to you
Microsoft PowerPointWeight 2.3%Expected level: working knowledgeRelevant to you
Verbal communication and presentingWeight 2.3%Expected level: working knowledgeRelevant to you
Reading organisational and political contextWeight 2.3%Expected level: working knowledgeRelevant to you
Data migration and cutoverWeight 2.3%Expected level: working knowledgeRelevant to you

Useful 3

Occasionally useful.

Advanced Microsoft ExcelWeight 0.8%Expected level: working knowledgeRelevant to you
Querying data with SQLWeight 0.8%Expected level: working knowledgeRelevant to you
Lean methods and continuous improvementWeight 0.8%Expected level: working knowledgeRelevant to you

Processes

The work the role takes part in.

Change and project delivery

What each process covers

Change and project deliveryMainRunning programmes and projects: plans, budgets, requirements, testing, cutover.

Where the role concentrates

How AI is changing the role

Project tools with AI features now draft status reports and minutes, update plans from task data, flag schedule risks and summarise long email threads.

Read the full assessment

Project tools with AI features now draft status reports and minutes, update plans from task data, flag schedule risks and summarise long email threads. Administrative reporting work shrinks. PMI guidance on AI in project management points to more time spent on judgement and stakeholder work. Value grows in negotiating scope, managing people and vendors, spotting risks that data does not show and making decisions under uncertainty. The World Economic Forum Future of Jobs Report 2025 lists leadership and social influence among skills employers expect to grow.