Is PMP Certification Worth it? All you Need to Know

Project Management Professional (PMP) certification is a globally recognised and appreciated credential for its proven skills and techniques. The effectiveness of this certification is demonstrated by the PMP-certified project managers. Many organisations trust such professionals for their skills and accuracy to successfully manage and complete the projects within the expected cost and time.

According to Earning Power: Project Management Salary Survey, the median salary for PMP-certified professionals globally is 22% higher than that of non-certified project management professionals. As per a report generated by Project Management Institute (PMI), there are more than 1,200,000 PMP certificate holders globally.

This article will help you analyse if PMP certification is worth it in the coming years.

Table of Contents

1) What is a PMP Certification?

2) How to obtain PMP Certification?

3) Is PMP Certification worth it?

4) What motivates you to get PMP Certification?

5) Does obtaining a PMP Certification meet your needs?

6) Prerequisites to acquire a PMP Certification

7) Are you capable to go for the PMP Certification?

8) Benefits of PMP Certification

9) How much Salary can PMP Certified Professionals Expect?

10) Conclusion

What is a PMP Certification?

A PMP Certification is a project management certification recognised widely by organisations and professionals worldwide. Once you complete the PMP certification, you will be regarded and respected as one of the elite professionals among the group of project managers.  

The PMP certificate validates and proves your leadership and project management skills and experience to handle any project.
 

How to obtain PMP Certification?

To obtain a PMP certificate, a candidate must meet certain prerequisites and then apply for the exam, which consists of 180 multiple-choice questions to be answered. The PMP exam questions are usually related to real-life project management experiences, and most of the questions refer to the Project Management Body of Knowledge (PMBOK)guide.

The results of the PMP test will be shown immediately if you have opted for a computer-based exam. If it is a paper-based exam, you will be getting your results within four weeks mostly.

Is PMP Certification worth it?

For sure, yes! PMP Certification is undoubtedly worth it. A PMP-certified Project Manager will be considered highly proficient in project management.

Project management as a career has a varied and wide range of scope in multiple industries for skilled professionals in the coming years.

As per a report generated by PMI-commissioned Job Growth and Talent Gap analysis, there is a huge workforce gap anticipated in the coming years. The study led by AEG pointed out that by the year 2027, the project-oriented sectors can expect 33 percent of growth, which will create about 22 million new jobs worldwide. 

China and India are expected to dominate with 75 percent more employment in project management-oriented jobs. 
 

What motivates you to get PMP Certification?

The reason why you are motivated to get a PMP Certification varies based on multiple factors.

Following is a list of common factors that could motivate you to pursue the PMP Certification.

Intrinsic reasons

a) You consistently want to improve your knowledge and acquire new skills

b) You enjoy advancing your skills and learning the latest skills

c) You are future-oriented and desire to prepare yourself to lead the projects in future

d) You want to understand the project management skills in depth to manage projects without giving any leeway for errors to occur

e) You want to challenge your limits and strive to go beyond your previous accomplishments

Extrinsic reasons

Now, let us discuss a few extrinsic reasons that can motivate you to get a PMP Certificate.

a) The demand for individuals with a Certification in PMP is high

b) Expecting a lucrative salary offer

c) Having a hope to get a promotion in your career

d Gain an additional certification to add merits to your profile

e) You will have better control over your team and earn respect

f) A PMP Certification will look good in your resume

Before moving forward, you can check if any of the above are the common reasons that match your motivation to obtain a PMP certificate.

Individuals interested in gaining expertise in Project management can join CAPM Certification Training now.

Does obtaining a PMP Certification meet your needs?

Obtaining a Certification, in any case, could be a significant turning point in your career to progress towards your goal. It is better to be particular about your objective before deciding whether selecting the PMP Certification is valuable enough to help you achieve your goals.

To have a clear picture of the PMP Certification’s value, let us analyse both internal and external factors validating the worth of PMP Certification.

Internal Factors

1) PMP is one of the most challenging and demanding project management certification exams. The topics under this certification are usually simple and discuss project management techniques, while some subjects are more complex and technical. Thus, the aspirants are guided to prepare well and are required to put in extra effort to clear this exam in one go.

2) Irrespective of having a previous experience as a project management professional for a good number of years, you can still learn and achieve new skills and techniques to implement several project management processes quickly and efficiently.

3) No matter how experienced you are, there are still things that need to be learned to help you perform better. Hence, this PMP Certification acts as an excellent booster to improve your project management skills in the long term.

External Factors

Now, let us discuss the extrinsic reasons or factors that contribute towards determining the worth of a PMP Certification.

1) You will find several job advertisements that particularly ask for a PMP Certification. This instance proves that this certification holds immense value and is highly desirable for a project manager. Apart from this, many other PMP job roles demand a PMP Certification in the hiring process.

2) Getting an immediate promotion after gaining a PMP Certification might not be true unless there is such a company policy or your manager has asked you to acquire one. Promotions at work will take effect in due time as your performance improves and you own up to responsibility and deliver notable results.

3) Gradually, the PMP certification and good performance will create a pathway for you to get better salaries and promotions. Naturally, you will earn a higher income as a PMP Certified professional in comparison to the non-PMP professionals in the longer run.

4) Also, you can put ‘PMP certified’ beside your name to add value to your profile or visiting cards. This action helps you to distinguish yourself and stand out from the crowd. It aids you in passively announcing that you have had a minimum of three years of experience in project management.

5) As only about close to one million professionals have obtained this valuable certification, you will have a recognised certificate in your hands that is prestigious enough to showcase in your office premises. You will be part of this elite group of professionals who have managed to achieve a PMP certification. Hence, displaying it can enhance your confidence, keep you motivated, and create long-lasting satisfaction.

6) The final reason or factor we will discuss in this section is the respect and recognition earned by a PMP-certified professional. Logically, an opinion of a PMP-certified professional is more knowledgeable and less intuitive than a non-certified or non-experienced professional. This certification provides a good amount of knowledge and skills while also displaying the efforts of certification holders to prove their worth and interest in the profession.

Prerequisites to acquire a PMP Certification

You need to match the following three PMP certification requirements to determine if you are eligible to apply for the PMP exam.

1) You should have passed at least a high school graduate or have an equivalent degree. (Note: If you don’t have one, you can contact PMI or a recognised PMP Certification training institute to check if you are eligible).

2) There are two criteria under the experience requirement.

a) If you have a four-year bachelor's degree or equivalent

You must have a minimum of 36 months of experience in project management and hold work experience leading and directing projects for 4,500 hours.

b) If you have less than a four-year bachelor's degree or equivalent (Ex: An associate degree or a high school diploma)

You must have a minimum of 60 months of experience in project management and hold work experience leading and directing projects for 7,500 hours.

3) A minimum of 35 hours of formal education in project management must be completed before applying for the PMP Certification exam. It means that you should have taken a project management course-related training that can finish an average of 35 contact hours.

Also, check out our blog to prepare the top PMP interview questions to ace your interview!

Are you capable to go for the PMP Certification?

The capability or capacity to select a PMP Certification can be discussed based on the two essential factors. One is the Time, and the other is the PMP Certification Cost required to complete the Certification.

A) Time factor

There have been many instances where people have shown interest in obtaining a certification, but due to some miscalculations, they could not find enough time to prepare for the exam. To clear this exam, a candidate has to put in several hours and sometimes it might not be possible for the individual due to expected or unexpected issues. Due to this reason, they might decide not to pursue the certification.

Hence, you must ensure that you have enough time for your PMP exam preparations apart from the other commitments (which you can’t compromise) where you need time.

B) Cost factor

The PMI exam fee varies for PMI members and non-PMI members. The PMI members will have to pay £350, and non-PMI members will pay somewhere close to £470 approximately. If you want to reappear for the certification, then you’ll have to pay £85.

Besides, if you are willing to join a training institute or course to prepare for the PMP Examination, the overall cost would range between £1500 to £2200.

Annually, you must pay a PMI membership fee close to £110. You must pay this membership fee each year to retain the membership. All the funds required for the exam preparation and application should be accessed and planned carefully to avoid future hassles.

Considering all the factors, it is advised that you calculate all the emerging factors and analyse if your financial resources can support you through the exam process. Also, ensure the time to prepare for the exam is satisfactory enough to obtain a good score.

Professionals interested in gaining experience and skills in agile methodologies of project management can join PMI-ACP Certification Training now.

Benefits of PMP Certification

The PMP Certification course is intended to benefit all kinds of individuals from the project management field.

Beginners at the entry-level also can opt for this PMP Certification to acquire better packages in the industry and gain an upper hand on their counter-parts who do not own a certificate. 

Mostly, the individuals or professionals handling a project opt for this certification to gain new skills and techniques to manage complex projects effectively. The PMP Certification will also aid the professionals to get promotions and secure a top-notch position within the organisation.

How much Salary can PMP Certified Professionals Expect? 

The PMP-certified professionals can expect higher pay, promotions, and increment once they have successfully obtained the Project management certification issued by the PMI. The PMP salary varies vary according to your skills, certification, industry, country, experience, and organisation you are working.

Apart from the reasons mentioned above, many other external factors can influence - the salary you would be offered. 

Following is the list of Job roles mentioned in the table for you to analyse what kind of positions and salaries you can expect as a PMP-certified professional.
 

Conclusion

Obtaining a PMP Certification proves that you as a project management professional can lead a project in any industry for any organisation. Meanwhile, the research conducted by various surveys points out that there is a high demand for PMP-certified professionals, and much more opportunities will come along the way for individuals willing to set their career goals in project management. 

Hence, doing PMP certification is worth it for your career, and it is the right time to upskill yourself with project management certifications to improve your skills and hone your expertise to achieve excellence in your profession.

If you have not yet got certified with a project management professional training course, then enrol in PMP Training Now. Initiate a change towards your career development.