Benefits of PMP Certification to Boost Your Career

The Project Management Institute (PMI)® sets global standards for project management practices, methods, and ethics through certification. By obtaining the PMI®’s Project Management Professional (PMP)® certification, Project Managers have the distinction of a globally recognized professional credential. Both the project manager and the employer enjoy the benefits of having a PMP certification.

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What is the PMP® Certification Exam?

The Project Management Institute (PMI®) produces A Guide to the Project Management Body of Knowledge (PMBOK® Guide) as a global standard for all things project management. Furthermore, the PMI® manages the Project Management Professional (PMP)® certification exam as part of global standards for the profession of project management. The PMP exam is constructed of:

• 230-minute allotment to complete PMP exam questions
• 180 questions – combination of multiple choice, multiple responses, matching, hotspot and limited fill-in-the-blank

The PMI reports that, on average, the successful exam taker has completed 35 hours of PMP exam prep work. Additionally, the PMI designs the PMP exam to utilize knowledge and task-driven guidelines. These guidelines assess the practitioner’s competence. They determine the levels of importance, criticality, and frequency of each knowledge, task, and skill. This ensures the practitioner meets the industry-wide standard for a project manager. Some may question if doing all of the work needed to earn a PMP certification is worth it. Research shows that earning a PMP certification can help both the project manager’s career growth and the organizations that hire PMP credentialed employees.

4 Benefits from Earning a PMP Certification: Your Career

Project Management encompasses balancing a project’s timeframe, budget, and overall scope as the team works to meet its objectives. It is a skill set used every day across the world in countless ways, with the formal recognition of it as a profession unto itself occurring in the mid-20^th century. Not only does having a PMP certification open up more career opportunities at higher pay than jobs not requiring a PMP credential, but PMP certification also expands your professional network while giving you verification of your level of skills. The provided infographic highlights four benefits of having a PMP certification.

#1: Higher Pay and Compensation

There is a lot of data around Project Management jobs, encompassing the many titles for the skill set, and comparing job salaries for positions with PMP certifications and without. The PMI states that in the USA., the median salary for Project Managers is $ 116,000.

In the leading job posting site, Indeed.com, their November 5, 2020, data reflects input from 23.4 salaries with the insights that:  “The average annual salary for a project manager in the U.S. is $ 86,087 with a $ 13,500 bonus for total compensation of $99,587.”

In the annual project manager survey report, the PMI collected data from 32,000 Project Managers in 42 countries. The data indicates that those with a PMP® certification earn 22% more than those without. The PMI’s salary data is significant for its global reach. 82% of respondents with PMP® certification earn an average of 22% more than their counterparts without it. The PMI states that in the USA., the median salary for Project Managers is $ 116,000.

#2: Increased Job Opportunities

One of the most powerful advantages of being a Project Manager is that the skill set applies to any industry or business type. Furthermore, research from the Project Management Institute (PMI) shows that project management-oriented careers in seven sectors will grow by 33%. Consequently, this growth equates to nearly 22 million jobs through 2027.

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In the coming years, that means employers will need 88 million people for project management jobs; that is great news for job seekers and also indicative of a very competitive landscape. All levels and tenures of Project Managers should actively seek training and PMP® certification to maintain their professional edge.

#3: Expanded Professional Network

PMP certification benefits include being part of a worldwide organization. The PMI as of this writing has over 600,000 global members and at least 300 local chapters. All PMP certification holders who maintain PMI membership gain an invaluable career resource: peers across the globe. Being part of a thriving and diverse professional network is an amazing benefit. This network shares professional standards, ethics, and work passions.

Local chapters add another dimension to the professional network by having area events, member trainings, and other benefits.

#4: Demonstrated Skills and Knowledge

Some suggest that the PMP® certification is “the most significant, industry-recognized certification for project managers worldwide.”  As noted in the article “Five Reasons Employers Want PMP® Certification,” you’ll see that the majority of available project manager positions list “PMP certification” as either required or strongly preferred.”

The PMP certification exam process and testing are intense. Earning the PMP certification requires time to prepare, obtaining specialized project management training from an authorized source, and having the discipline to complete practice exams and study sessions. As such, passing the PMP exam demonstrates your project management skills and knowledge.

4 Benefits of a PMP Certification for Your Organization

Reports show that organizations with formal project management methods reduce risks, cut costs, and therefore improve success rates. To realize PMP certification benefits, organizations need to support the development of current talent – across roles – in the discipline of Project Management. This infographic summarizes the benefits of PMP certification for organizations:

#1: Enhanced business acumen for better decisions

The impressive job potential is a reflection of the positive impact, including increased efficiencies, realized cost-savings, and improved morale, that competent Project Managers can have within an organization. Through the content in the PMBOK® Guide, one of the core sources of PMP exam content, Project Managers learn not only terms and tools but also the interconnectedness within business areas. For example, they understand how the supply chain connects to materials, how personnel costs connect to budgets, and how quality control connects to delivery schedules. Consequently, PMP-certified Project Managers are better positioned than those without the certification. They can make sound business decisions that benefit both the project and the overall organization.

#2: Apply predictive, agile, and hybrid principles

With the PMBOK® Guide – 7^th edition released in August 2021, the PMI provides prospective PMP certification exam takers, and project managers who have already achieved their PMP certification, with essential information about different project management methodologies, including Waterfall, Agile, and hybrid. Businesses must adapt to changes in the marketplace, which includes flexibility in how work is done.

When project managers know PMI-endorsed standards, as reflected in the PMP certification exam, they position the business better to pivot and remain competitive. Additionally, the PMI certification exams include not only the PMP, but also certifications in Agile, Risk, Business Analysis, Program Management, and Scheduling.

#3: Increased Organizational Efficiencies

The need and benefit of organizational efficiency is nothing new. Look to the 2013 Pulse of the Profession™ Study, and PMI addresses the increased need for standardization of processes. Note, a “standardization of process” does not mean all processes must be static and unchanging. It means that the most efficient processes should be maximized within the business.

In the context of PMP certification standards and project management as a profession, organizational efficiencies are realized thru standardized project management techniques and processes, a “common language” if you will within the profession. For example, as a business onboards a new PMP certification holder to the team, the use of PMI tools and standards speeds up the process because there is already an understanding in place.

#4: Maintaining Industry Best Practices

The PMBOK® Guide is published by the PMI® to provide a global standard for all things project management. Moreover, each new edition reflects careful consideration of changes in the project management profession. The standard for project management is an American National Standards Institute (ANSI) standard, which means that every four to five years, the PMBOK® Guide has to be updated, reaffirmed, or retired. Furthermore, PMI drives changes to the PMBOK® Guide through research, conducting market surveys, and working with practitioners around the globe.

Therefore, PMP certification benefits for organizations include project managers who are verified as knowing industry best practices.

Conclusion

As a career, project management is not bound by industry nor geography; some studies predict 22 million project management-related jobs by 2027. Project Managers who successfully earn the PMI®’s Project Management Professional (PMP)® certification status gain advantages for their own career while, consequently, bringing value to their employer’s organization. Learn more about the requirements of a PMP certification today!

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