Wages vary in the United States as well. For example, the national median salary for entry-level project managers is $89,286, for established project managers is $96,425, for IT project managers is $100,000, and for engineering project managers is $107,472. Directors of PMOs make the most, raking in a solid $134,791 on average a year.
The typical bank limit on monthly mortgage payments is about 28 percent of your gross monthly income. Therefore, the bank thinks you can devote up to 28 percent of your household income to your mortgage payment and expenses (including taxes, insurance and association dues).
One weekâs paycheck is about 23 percent of your monthly (after-tax) income. If I had to set a rule, it would be this: Aim to keep your mortgage payment at or below 25 percent of your pretax monthly income. Aim to keep your total debt payments at or below 33 percent of your pretax monthly income.