PMP vs PRINCE2: What's the difference?

PMP Certification’s Benefits

A PMP certification offer the following benefits, but are not limited to just these:

• Better Salary Prospects: Compared to their non-certified counterparts, qualified PMP professionals get better and high salary increases.
• You will speak in the right language: To run a project successfully, communication is essential. The PMP certification indicates that you are able to communicate effectively and that you speak a common language. In your career, it's likely that you'll work on a wide range of projects.
  You'll probably have to collaborate with a different team each time, too. Speaking in a language that is understood by others in the corporate world will keep everyone on the same page.
• Networking Possibilities: It is advised that you join PMI in order to earn a PMP certification. Once you join, you get access to a vast network of experts with comparable credentials. These connections might be essential in getting you a job in project management.
• Better job opportunities: The PMP credential, which is the most widely accepted project management certification in the world, is respected and valued by businesses everywhere.

You can also read Is PMP Certification Worth it in 2022?

PRINCE2 Certification’s Benefits

The PRINCE2 Certification has many advantages, Including the following:

• Exhaustive Body of Knowledge

Holders of the PRINCE2® certificate have the capabilities to thoroughly evaluate a project and make sure it is viable before it is started. Users' needs and potential hazards are taken into account, guaranteeing that a project that will inevitably run into obstacles is addressed during the planning stages.

• Well-Designed Methodology

Since the certification has a clearly defined out approach, a significant amount of time and resources are spared during the completion of a special project.

• Universal Recognition

Although a PRINCE2 certification has emerged as the unofficial benchmark for IT project management, it is equally applicable in other sectors. The development of PRINCE2 was primarily focused on making it helpful to everyone.

More than a dozen languages are available for its exams. A PRINCE2 certification, which is now acknowledged on a global scale, broadens your network and increases the demand for your expert project management services.

• Standardization

The employment of a consistent, uniform approach throughout the project, together with traditional filing systems, procedures, and papers, eliminates confusion in project execution.

Project Management Professional (PMP) jobs by salary

PMP salary by experience

With less than six years of experience to 18 years of experience, project manager salaries in India range from 5 lakhs to 26 lakhs, with an average yearly income of 14.5 lakhs.

Salary by gender

Male PMP professionals in the U.S. make $116,000. In contrast, female PMP professionals make $105,000, about $11,000 a little under their male counterparts, according to a poll by the PMI.

An individual with a PRINCE2 certification can expect an average salary of $85,800.

Men working as PRINCE2 professionals make $90,000 annually, while women earn $77,000, according to a Payscale.com survey.

You can checkout the PMI Salary Survey Report -12th edition

3.1 Eligibility criteria for the PMP vs. PRINCE2 Exams

PMP Certification: To be eligible to qualify for PMP certification, you must have:

• A secondary degree (high school diploma, associate's degree, or its equivalent)
• A minimum of five years of experience in project management
• 7,500 hours of minimum invested in project management
• 35 hours of formal training

Another alternative set of requirements to apply for PMP certification is as follows:

• A four-year degree (bachelor's degree or its equivalent
• A minimum of three years of experience in project management
• 4,500 hours minimum spent in project management
• 35 hours of formal training

PRINCE2 Certification

• PRINCE2 Foundation

Axelos doesn't have any prerequisites. However, it is advised to obtain the appropriate training and some project management experience.

• PRINCE2 Practitioner

To be eligible, you must possess at least one PRINCE2 certification.

The time needed to prepare for the PMP or PRINCE2 exam depends upon your learning power and how much you can grasp in a period of time. Also, the preparation time may differ from person to person. For example, someone may take 3 months to complete their preparation for the PMP or PRINCE2 examination, while the other person may take 6 months.

Therefore, it is important to figure out how much time you require and would need to set aside everyday from your daily routine to prepare for the exam.

Region/ Country	1st Preference	2nd Preference
Africa	PRINCE2/PMP	PRINCE2/PMP
Americas	PMP	PRINCE2
Asia	PRINCE2/PMP	PRINCE2/PMP
Australasia	PRINCE2	PMP
Canada	PMP	PRINCE2
Europe	PRINCE2	--
Middle East	PRINCE2 / PMP	PRINCE2 / PMP
UK	PRINCE2	--
USA	PMP	PRINCE2