You may be wondering whether the PMP certification is worthwhile and beneficial to your career.
PMP certification, in my opinion, is worthwhile. There are numerous advantages and PMP certification benefits, but perhaps the most significant is that project managers who hold the PMP certification earn more than those who do not.
According to the PMI salary survey, project managers with PMP credentials earn a median salary that is 22% higher than non-credentialed professionals.
Salaries and emoluments only tell us half the story. The remaining half is spent on preparation and administration of the PMP exam. In this post, we will compare the cost of PMP to the potential increase in earnings to determine whether it is truly worth it.
Apart from salary, there are numerous benefits to earning the PMP certification. You can read my previous post or PMP reddit to learn more about the benefits of PMP certification.
Is PMP Certification Still Valuable in 2022 for Project Management Careers?
Without a doubt, PMP certified project managers earn more than non-certified project managers, but the pay differential occurs only after passing the exam.
Prior to receiving the salary increase, you must pass the exam. You may wonder if the trouble, effort, and money are worth it, given that the PMP exam is not only costly and time-consuming, but also extremely difficult.
Consider the investment cost and salary benefit when evaluating the PMP’s value.
Cost of PMP
Please refer to the previous article regarding the cost of PMP certification. The article summarizes and clarifies seven distinct cost components.
In total, the cost of PMP certification may range between $810 and $1150. Without a doubt, it is a colossal expense. However, this is only the beginning of the equation. Consider the other side of the equation, namely the potential gains from investing the money.
Salary for project managers varies by country. However, there is a striking parallel between countries.
A PMP holder’s salary is typically significantly higher than that of a non-PMP certified professional.
Consider the following examples. The statistics in the table below are from PMI’s PMP salary survey.
|Country||Mean Salary||% Difference in Salary|
You may have noticed that PMPs earn significantly more than non-PMPs across countries. Now, let’s examine cost and salary in tandem.
Note: Your current salary may be greater or less than the mean salary listed in the table above, depending on your sector, geography, role, and a variety of other factors.
Cost of the PMP vs. Salary
Refer to the section on the cost of the PMP. To earn the PMP credential, you will need to invest approximately $1000.
Now, please refer to the section on PMP compensation. A PMP-certified project manager can earn up to 20% more than an uncertified project manager.
Considering these points, the salary benefits of PMP far outweigh the cost. Depending on the country in which you reside, you can expect to recoup your investment within 2-3 months.
We would suggest that you disregard the investment cost and immediately begin your PMP preparation. By delaying your PMP certification, you risk losing a significant amount of money.
In contrast to many other certifications that are domain- or geography-specific, the PMP credential is recognized in a wide variety of industries and almost every major country on Earth.
Globally, there is an increasing demand for project managers. Indeed, numerous corporations are preparing their employees for PMP certification. This information contributes to an increase in the need for and demand for competent and skilled managers.
Without a doubt, the cost of PMP certification is substantial. Additionally, it is one of the most challenging professional exams. It requires considerable effort. However, once you pass the exam, your diligence will be rewarded.
You can read our article on PMP qualifications to determine whether you are eligible to apply.
Passing the exam is a difficult but not insurmountable task. With proper planning and perseverance, you can easily overcome the obstacle.
35 contact hours of training is one of the mandatory requirements for applying for the PMP exam. Our PMP 35 contact hour preparation course can assist you in passing the exam on your first attempt. It includes unlimited support and a 100% pass guarantee.
The PMP exam should not be postponed solely due to the cost. Delay has a high cost. Each day that passes, you risk losing a 22 percent increase in your salary.
If you’re not ready to begin exam preparation right now, you can enroll in our PMP certification training program for lifetime access. Also, SPOTO 100% real PMP exam dumps can help you pass your PMP exam in 2022 at the first attempt!