Is PMP Certification Worth It: Salary Increase vs Investment

Is getting a PMP® Certification worth it in 2024? Absolutely! Project management skills are useful in any industry or business. The Project Management Institute (PMI) predicts that project management jobs in seven sectors will grow by 33% through 2027. That’s almost 22 million new jobs! While the PMP® Certification isn’t required, it can make you stand out in a competitive job market.

In the next five years, companies will need 88 million project managers. This is great news if you’re looking for a job, but it also means there will be a lot of competition. To stay ahead, project managers at all levels should get training and earn their PMP® Certification.

Who Manages the PMP^® Certification?

PMI is a global non-profit organization formed in 1969. It uses education, networking and standardized resources to manage project management standards for over 3 million members and over 1 million active certification holders. This includes the prestigious (PMP)® certification.

PMI’s primary goal is to improve the practice of project management worldwide and increase the value that project managers bring to their organizations.

Is the PMP® Worth It? How the Certification Boosts Careers

If you are driven to advance your project management career at a Is getting your PMP® Certification worth it? If you want to move up in your project management career at a bigger company or work on high-budget, complex projects, then yes, it’s definitely worth it! The PMP® Certification can help you achieve those goals. Studies by PMI and job sites like Indeed.com show that having a PMP® Certification comes with benefits, no matter what industry you work in:

Some suggest that the PMP® certification is “the most significant, industry-recognized certification for project managers worldwide.”

Speaking from my own 25+ year career, I have seen how industry credentials can open career doors. When multiple qualified applicants are being reviewed for that single job opening, education and Project Management Professional (PMP)^® certification can be the differentiator.

In the annual survey report (2021), the PMI collected self-reported data from 32,000 Project Managers from 42 countries indicating that those with a PMP^® certification earn 22% more.

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What Industries Have Project Managers?

Transportation, healthcare, technology, construction, manufacturing, marketing, banking, architecture, and information technology are a few industries with active Project Management careers. In fact, CIO magazine listed the PMI’s PMP^® certification in its top 13 Project Management Certifications. Within the provided November 2020 job listings example from Indeed.com for U.S. Project Managers, major companies from very different industries have active job listings.

The wide range of industries seeking Project Managers is good news for those in the profession. It also Project managers are in high demand across many different industries. This is great news for those in the field, but it also means that companies have higher standards for experience and qualifications. There is also more competition for jobs. If you earn and maintain your PMP® Certification, you’ll be qualified for more advanced positions and have more job opportunities to choose from.

Professionals with a PMP® Certification can get jobs in all kinds of organizations, including big companies like Google, NASA, and IBM. Wherever there are projects, there is a need for skilled project managers to oversee the work. When there is demand, people will naturally try to meet that demand. This means more people are pursuing PMP® Certification. So, ask yourself – is getting the PMP Certification worth it for you?

Salary Impact of PMP^® Certification

There is a lot of data around Project Management jobs. It encompasses the many titles for the skill set, and comparing those with professional certifications and without. In the leading job posting site, Indeed.com, their November 5, 2020, data reflects input from 23.4 salaries reported:

Access to the salary report data base is available to PMI members and includes breakdowns by title and geographic regions. As of November 2020, the PMI reports average salary with bonus for the US as shown.

Is the PMP Certification worth it? Can It Advance Your Career?

Project Managers are passionate, driven types who guide work from mere ideas to finalized deliverables, products, and services. No matter the industry in which you practice your Project Management skills, having a current Project Management Professional (PMP^®) certification is definitive evidence of your focus on being the best.

Is the value that’s in a PMP certification worth it in 2022? Yes, the PMP certification is a validation of your competence in ten knowledge areas and process groups that define the project environment. It provides you with an internationally recognized standard for your experience and skills and adds measurable value to your resume. More than 1,000,000 individuals worldwide are PMPs and it’s growing by the year.

In the end, with all the added effort that it takes, the question of whether or not the PMP is worth it is up to you. You can find out if the PMP® is worth it by answering these questions:

• Is the PMP certification worth the investment for you?
• Are you willing to commit the necessary time and effort to obtain this credential?
• Will your profession value the career validation that comes from passing this exam?

If you answer yes to any of those questions, then the PMP certification is definitely worth it. The PMP® certification definitely requires hard work and study. Yet, the long-lasting career and salary potential with a PMP certification make it worth the effort if you want to advance your career.

FAQ: Which industries are seeking Project Managers with PMP Credentials?

These are just a few of the industries that recognize the PMP certification for its rigorous standards and validation of project management expertise, enhancing the efficiency and success of their projects.

• Transportation: PMP-certified project managers are crucial for overseeing logistics and infrastructure projects. They ensure timely delivery and budget adherence, which is essential in a sector that relies heavily on efficiency and coordination.
• Healthcare: In healthcare, project managers with PMP certification lead projects like implementing new systems, improving patient care processes, and constructing medical facilities. Their skills are vital for managing the complexity and regulatory demands of the industry.
• Technology: The tech industry highly values PMP certification for managing software development, IT infrastructure, and innovation projects. Certified professionals help ensure these projects are completed on time and within scope, which is crucial in a fast-paced environment.
• Construction: In construction, PMP-certified project managers coordinate large-scale projects from planning to execution. Their ability to manage timelines, budgets, and compliance with standards and regulations is critical to successful project completion.
• Finance: The finance sector relies on PMP-certified professionals to handle projects related to regulatory compliance, system upgrades, and process improvements. Their expertise helps financial institutions manage change efficiently and effectively.

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