is pmp certification worth it

Is PMP Certification Worth It In 2021?

PMP Credential is being 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 in project-oriented professions. Given all this, is PMP worth the hype? In this article let us try to answer the question “Is PMP Certification Course worth it?”.

Why Is PMP Worth It?

For instance, Even businesses get benefitted from PMP certification employing improving productivity. As per the Project Management Institute, 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 Worth It? This is a pretty broad question. So, what would you benefit from doing PMP? Let us look at the key benefits of the PMP certification course in detail.

Is PMP worth it?
Is PMP worth it?

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 a 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.

Project Management Job Growth and Talent Gap 2017–2027
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 helps 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

2021 PMI Fact File
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 role, then a PMP certificate can take you to the next level in your company.

Salary Differential

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. Recently 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

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

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.

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.

650,000+ PMI Members
650,000+ PMI Members

The preparation gets you ready 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.

Is 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, and the 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 With and Without Membership

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, it 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.

About Author

Techcanvass is an Information Technology certifications training Organization for professionals. It offers internationally recognized certifications in the fields of Project Management and Business Analysis. Techcanvass is a premier Authorized training partner (ATP) of Project Management Institute (PMI). It also involves the USA, and a premier Endorsed Education Provider (EEP) of the International Institute of Business Analysis (IIBA), Canada. Founded by IT professionals, Techcanvass is committed to making learning a more structured, practical, and goal-oriented exercise. We also provide consulting services in the fields of Project management and Business Analysis.

Janakiram SD

Janakiram is a PMI-ATP-PMP Instructor from Techcanvass Academy with over 15+ years of experience in the Software Industry including roles such as Project Manager, Engineering Manager, Development Manager and Delivery Manager. He has end to end experience in successfully delivering projects on both Predictive and Adaptive (Agile) approaches. Started his career as a Microsoft Stack Developer and has developed solutions encompassing various technologies like Web applications, Windows applications, Database design and development, Cloud based development. He is certified on PMP (PMI), CSM (Scrum Alliance), MCSD (Microsoft)

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