PMP Credential has been offered by Project Management Institute (PMI) for more than 30 Years. PMP has a global presence, and it does not limit to a specific industry or location. Demand for certified PMPs is growing in recent years at a very fast pace. As per Anderson Economic Group Report, 1.2 Million job openings per year are in project-oriented professions. In this article let us try to answer the question “Is PMP Certification Worth It?”.

Gaining a Training on Project Management Professional (PMP) Certification can help you develop in-depth knowledge and skills in Project Management and every aspect of how projects are executed in an organization. A PMP credential gives you global recognition in the Project Management domain, where you can showcase your competencies and experience to potential job employers.

If you have a knack for managing and leading projects, then a PMP Certification is a great investment for your professional as well as personal growth. Moreover, the average salary of a certified Project Management Professional keeps on increasing with years of experience.



What Is the PMP Certification About?


The Project Management Professional (PMP) Certification is offered by the PMI to candidates on passing a multiple-choice PMP examination. The exam tests the candidate’s knowledge of three main domains of Project Management- People, Process, and Business Environment. These domains cover the respective topics that a candidate has to prepare for the exam.

On successfully clearing the PMP exam, the Project Management Institute (PMI) provides you with a PMP Certification and certifies you as a PMP Professional, who is ready to take on the challenges of Project Management in any organization, irrespective of the industry.

A PMP Certification is going to add value to your resume and help you stand out from other candidates. Moreover, an organization or a company will always prefer to hire certified professionals rather than non-certified candidates to lead and manage organizational projects.



PMP Certification Cost


Here are the various cost components of a PMP Certification, from exam cost to the cost of guides and books, you can easily find everything in the below-mentioned table.


Cost components Cost
PMI membership cost $129+$10
PMP exam cost (PMI members) $405
PMP exam cost (Non-PMI members) $555
PMP exam rescheduling fees (PMI members) $275
PMP exam rescheduling fees (non-PMI members) $375
Canceling fee within 30 days of the exam $70
PMP certification renewal fee (PMI members) $60
PMP certification renewal fee (non-PMI members) $150
Cost of study material and guides $40-$100
Cost of practice tests $60-$100

PMP Training Cost as Per Countries


Here we are listing down the entire average training cost investment for getting a PMP certification.


Country Cost Investment
India Rs10,000 - Rs20,000
USA $1000 - $1600
Canada CAD 1400-1600
UK AUD 1000-1600
Australia GBP 700-1500


Reasons Why PMP Certification Is Worth It?


For instance, Even businesses benefit from PMP Certification employing improving productivity. As per the Project Management Institute (PMI), when at least one out of three Project Managers have a PMP Certification, more projects are completed within schedule, within budget, and with the original goals achieved. In order to get PMP certified, you need to appear for the PMP Certification Exam conducted by the Project Management Institute (PMI).

Is PMP Certification worth it? This is a pretty broad question. So, what would you benefit from doing PMP? In simple words, gaining a PMP Certification is undoubtedly fruitful for your career growth because Project Managers holding a PMP credential are offered better salaries about 22% higher on average in comparison to Non-Certified Project Managers. A high salary range is only one of the benefits of earning a PMP Certification. There are numerous other benefits such as good job opportunities, good networking opportunities, and professional growth, among others.


PMP Certified Professionals Demand

Across the globe, currently, PMI has about a million active PMP Certification holders. Out there in the market, there are many options in Professional Certification for Project Management. But, among all of those, PMP Certification stands out as the most valuable certificate. Recruiters looking to fill the position of Project Manager in their companies understand this.

They typically tend to prioritize Project Manager profiles with PMP certification training over those who do not have the certification. Given that the Project Management jobs are high in demand, there are an equal proportion of applicants who apply for these positions. And, believe us, it is both tedious and time taking for the company to interview and validate the potential of all those applicants.

PMP Certified Professionals Demand

Information Source: PMI. Project Management Job Growth and Talent Gap 2017–2027

Given a chance, any company would definitely like to filter out as many of the profiles as possible before the actual interview process. Here is where a professional certification like PMP comes beneficial as it is one of the most rational ways in which a recruiter can shortlist candidates for interviews.

Moreover, many companies are making it mandatory to have a PMP Certification for Project Manager roles. This means you may not even be eligible to apply for some of these positions without a PMP credential. Also, having a PMP Certification can also be highly valuable if you are planning to advance your career in the current company you are working for.

A PMP Certificate would make you stand out among your colleagues and help you in moving up the career ladder. Moreover, a PMP-Certified Project Manager can do a much better job in Project Management interviews than others.


Global Recognition

Global Recognition

Information Source: 2021 PMI Fact File

The certificate carries a lot of value in the job market. Statistics show that the success rate of projects also increases, as the number of Certified Project Managers increases within a company. Adding to that, more and more organizations have started recognizing that PMP Certified Managers are better at bringing a Project to closure on time and within the budget than others.

In the case where you are an experienced Project Manager and also have a proven track record of Project Management roles, then a PMP certificate can take you to the next level in your company.


Salary Differential

Salary Differential

Source: Earning Power: Project Management Salary Survey, 10th Edition, PMI

Probably one of the biggest advantages of PMP Certification is the higher remuneration it can fetch the Project Managers. PMP has been one of the highest-paid certifications. Also, the demands are indicative that the trend will keep on growing in the future as well.

The average salary of Certified Project Managers across the industry is considerably higher. A couple of years back, a PMI survey stated that the average median salary of a Project Manager with certification is around $ 1,08,000. PMP credential holders earn almost 22% more than their non-certified colleagues at the same experience level

Moreover, PMP has also consistently been the highest-paid certification in the IT domain. And, this trend indicates that PMP salaries will only continue to grow in the future given the rising demand for project professionals. PMP Certification also improves your job security, apart from higher remuneration.

Let’s understand the salary differences between a certified PMP professional and a non-certified professional through stats derived from the PMI salary survey.


Country Mean Salary % difference in Salary
PMP certification holder Non-PMP holder
Brazil R$169,376 R$135,521 25%
India Rs.2,151,758 Rs.1,875,982 14.70%
Malaysia RM178,567 RM140,928 26.71%
Germany €88,826 €77,443 14.70%
USA $123,314 $100,247 23%

Upskill Yourself

In the competitive job market out there, you need to stand out in the crowd. There is no greater way of getting noticed than by becoming PMP certified. Not only does it make your profile look more lucrative to the companies, but also importantly, PMP Certification adds some critical skills for you to advance in your career.

Upskill


The preparation gets you ready for the knowledge of processes tools and techniques and methodologies for fundamental Project Management. Moreover, you get to know and understand current trends and best practices in Project Management. On top of that, you get exposed to new techniques and tricks in the Project Management role.

It is not possible to keep growing in your career, without becoming better at what you are doing currently in your role. Remember, the experience might make you learn and improve how you manage projects. However, a PMP Certification can also do the same thing in a shorter time period.



PMP Investment Cost Vs Salary


The average PMP Certification investment can come out to be around $1000. However, the cost of the investment may differ depending upon your training cost, the cost of guides, among others.

But to look on the brighter side, the salary range for a PMP certified professional is quite high and undoubtedly outweighs the investment cost for gaining the PMP Certification. It means, depending upon your country or location, you will be able to regain your investment in a matter of one month or two.



Is the PMP Exam Cost Expensive?


The PMP Certification happens to be the most widely recognizable certification in Project Management as of today. Getting a PMP Certificate needs through dedication and passion. For sure, the preparation and the exam, both need good dedication from the aspirant.

As of writing this article, the PMP exam costs around 405 USD for PMI members,

  • Cost for Non-PMI members is 555 USD for everyone else.
  • The PMI membership cost comes around 139 USD.

PMP Exam Cost With and Without Membership


PMP Exam Cost


Conclusion


You may find the PMP Certification pricey. It may also appear time taking and energy-consuming. You may find it very difficult. But remember, for exactly the same reason, the PMP Certificate carries so much value in the job market. Also, many recruiters value PMP certification as an important credential on your profile.

A PMP certification holds a lot of value as almost every organization hires Certified Project Management Professionals for managing their projects. Moreover, the value of PMP certification can be seen in almost all major countries such as the USA, UK, Australia, Canada, India, among others. It also means that you have access to global job opportunities.

Furthermore, earning a PMP certification can help you boost your resume by adding a strong credential, which further offers you a competitive edge to get into any industry as a Project Manager. Therefore, it might be the right time for you to explore the world of Project Management and start your PMP certification journey.



About Author


Abhishek Srivastava

Abhishek Srivastava
-Senior IT Professional , CBAP Certified

Abhishek Srivastava is a seasoned IT professional with diverse experience in Banking, Insurance, Utility and Education domains. Managing large accounts, Program management & Business Analysis has been his forte, having done so for customers like ICICI Bank, NTPC & many other International customers.

In the past, he has been associated with companies like Mastek and 3i Infotech Ltd (erstwhile ICICI Infotech Ltd). An NIT (Erstwhile REC) / IIM Kozhikode graduate, now as an entrepreneur, he is pursuing his dream of creating an organization for providing quality training in the fields of Project Management and Business Analysis. His other areas of interest are Business Analysis consulting and mentorship. Over the years, he has mentored and guided more than 1000 professionals

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