Nowadays, you must justify education and training. Watered-down credentials are like a green garnish on a lobster dinner—they contribute nothing to your portfolio. Most aren’t worth it, especially if they cost several thousand dollars.
According to a recent PwC poll, 75% of successful projects are led by PMP-certified managers. Furthermore, businesses with more than a third of their managers holding the Project Management Professional credential enjoy substantially higher project success than those without. Then what? In terms of salary potential, PMP ranks #5.
Before addressing this query, first know what PMP stands for. Sounds significant? If so, should you get PMP-certified, or is PMP worth it now?
What is a PMP certification?
PMP is a worldwide recognized professional credential. It’s provided by the US non-profit Project Management Institute (PMI). Project managers need to hold the PMP certificate for job advancement, especially.
Every project manager should ask: is PMP worth it now? Is PMP certification worthwhile? This article lists PMP certification benefits to help you decide.
Is PMP worth it now? – Top benefits to support this query
1. Worldwide recognition
PMP certification is trusted by companies from Switzerland to South Africa and everywhere. Many decision-makers and influencers are familiar with the Project Management Institute (PMI), which supervises the PMP certification. The PMP certification provides a standard metric for project managers.
They meet PMP criteria regardless of experience. Thus certification holders are more likely to meet standards.
2. Supports your technical side
Recruiters and hiring managers rarely make decisions based on one factor. Nonetheless, a project management candidate with more green flags is more likely to be chosen than others.
3. Provides more fabulous flexibility
Career paths change over time. PMP exams aren’t industry-specific. The exam covers one of five project management process groups: project initiation, planning, execution, monitoring and controlling, and closing. Successfully passing the exam shows that you understand the project management process.
PMP holders can more easily switch between leadership roles in different sectors. Hiring managers and recruiters know that candidates have the foundational skills to move from IT project management to supply chain project management.
Is PMP worth it now? Salary vs. Investment
Although earning your PMP certification may seem like a significant investment in your future, you may wonder if it’s worth the time and effort.
PMP certification is worth the effort. According to the PMI compensation report, professionals with the PMP certification make 16% more than those without it. Project managers’ increased salaries are most crucial.
Let’s also factor in the expense of PMP training and certification.
For a project management career, is PMP worth it now?
Passing the PMP exam for qualified project managers raises the compensation. PMP-certified project managers make more than non-certified ones.
It’s expensive and difficult to pass the PMP exam. It is a better use of time, money, and effort. Passing the exam is required for the salary increase.
For a finance specialist career, is PMP worth it now?
Contracts, resource (people) budgeting, Earned Value, and other topics helpful in a financial career are all part of the PMP certification curriculum. In addition, if your profession in finance ever evolves into project management, having a PMP certification will serve you well.
For IT professionals, is PMP worth it now?
Professionals of a high caliber will always flock to the side of a successful career. You likely started as a developer, tapping away at keyboards to create those amazingly complex programs. To reach your professional goals, you work hard to move to more senior positions, such as senior developer, team leader, and project manager. From the point of view of a developer, you might think that your path leads to a job in management.
Let’s estimate the PMP’s Value using investment costs and salary benefits.
PMP cost
Please find below a list of the three major components.
• Exam fee – $550
• Training fee – $200 to $500
• Practice tests – $60 to $100
• Total fee – $810 to $1150
PMP salary
A project manager’s salary range varies from country to country. Yet, there remain some striking parallels between nations.
PMP-certified professionals often make significantly more than their non-PMP counterparts.
Here are a few illustrations to consider. It is a table including data from a salary study conducted by PMI for PMPs.
| Country | Average Salary | Salary difference | |
| PMP Certified | Non-PMP | ||
| USA | $123,000 | $93,000 | 32.26% |
| Brazil | R$165,408 | R$137, 611 | 20.20% |
| India | Rs. 1989911 | 1691424 | 17.65% |
| Malaysia | RM150652 | RM129717 | 16.14% |
| Germany | €95612 | €81801 | 16.88% |
It’s essential to remember that your actual payment may be more or less than the mean wage listed above, depending on factors such as your role, location, industry, and many more.
Is PMP worth it now? Cost Vs. Salary
The PMP certificate costs around $1000.
Project managers with PMP certification may earn 20% more than those without.
With multiple project management certificates available, is PMP worth it now?
Delaying PMP certification could cost a lot of money, so don’t worry about the expense. When these criteria are considered, the pay benefits of PMP certification far outweigh the costs.
Wrapping words
Projects, meetings, and to-do lists have dominated the field of project management for quite some time. During this time, technology has undergone a remarkable transformation over the last two decades. The role of information technology in business has shifted from being tangential to central. Hence, project management techniques have also evolved to accommodate the rapid development of new technologies. Throughout the previous two decades, the PMP certification has risen in Value and prestige; each year, thousands of people sit for the exam. It’s therefore pointless to wonder about “is PMP worth it now? Yes, most assuredly so! Get the skills you need from PMP Pro with the help of Simplilearn online courses.
You can prepare for and pass the PMP exam by taking a professional project management course in person or online. The answers to the first and second questions are based on your preferred learning method and the amount of time you have available. To what extent is this true? Is it even relevant?
