Businesses that want to achieve and maintain success must implement projects that help organize and simplify the process. However, projects need guidance and leadership to be successful, and that’s where project managers come in. But a good project manager should have the appropriate certification. So, this article addresses the question, “Is PMP certification worth it?”
We will also discuss PMP certification value, who should pursue project management certification, project management skills gained through certification, and other PMP certification benefits. We will also talk about the PMP exam, including PMP exam preparation.
So, is PMP worth it? Let’s find out. We begin by explaining what a PMP certificate is.
What is PMP (Project Management Professional) Certification?
PMP is globally recognized as the most reputable and sought-after project management certification. There are currently more than a million certified PMP professionals across the world.
The PMP certificate is awarded to experienced project managers once they pass the PMP certification exam, which is offered by the Project Management Institute, or PMI for short. The PMP certification exam is considered to be one of the most challenging and demanding professional exams, testing project management concepts found in the Project Management Body of Knowledge (PMBOK) Guide. The PMBOK Guide tests your skills and knowledge in predictive and agile project management strategies.
PMP certification shows the hiring organization that the candidate is a certified project manager with the proper knowledge, skill, and experience to manage projects. This certification benefits project managers across various industries, such as event management, infrastructure, health services, technology, and financial services. However, a PMP-certified project management professional can go far.You can see where we are leaning while answering “Is PMP certification worth it?”!!!
Who is PMP Certification For?
When answering the question, “is a project management certification worth it?” we should first figure out who benefits most from project management training. After all, only some people need PMP training. But here’s a list of careers that can significantly benefit from certified PMP training.
- Mid-level and Senior Project Managers
- Professionals interested in boosting their project management skills
- Project Analysts
- Project Coordinators
- Project Leaders
- Product Managers
- Program Managers
- Project Sponsors
- Team Leaders
Are There Any Prerequisites to Taking the PMP Exam?
Yes, there are. According to PMI.org, you should have one of the following two typical sets of certification requirements if you want to pursue your PMP credentials and enjoy a project management career.
|Track A||Track B|
|A four-year degree||A high school diploma or associates degree|
|A minimum of 36 months of experience leading projects within the last eight years.||A minimum of 60 months of experience leading projects within the last eight years.|
|A minimum of 35 hours of project management education or training or have CAPM® certification.||A minimum of 35 hours of project management education or training, have or CAPM® certification.|
Additionally, there’s a third less common track. Suppose you have completed a post-graduate from a GAC-accredited program. In that case, you need at least two years, or 24 months of appropriate experience, in leading projects in a professional environment, without overlap. You also need a CAPM Certification or a minimum of 35 contact hours of formal project management training.
So, if you have the required project management education and the requisite project management experience (preferably in areas such as software development), you’re ready to start the process of becoming a certified project manager — and, spoiler alert — earning a project management certificate is worth it!
Also Read: All About Project Management Qualifications
A Word About PMP Exam Preparation
You should prepare yourself for the PMP exam and allocate approximately two to three months of study time. Here are five sources you can use to prepare for the PMP exam:
- The PMBOK Guide
- Reference books and study guides that focus on the PMBOK Guide
- Online training materials and videos
- Study materials such as ITTO learning tools and formula cheat sheets
- PMP certification practice tests
For best results, don’t limit yourself to one of the above; get a couple of them under your belt.
Is PMP Worth it? How Does PMP Certification Boost Careers?
But is PMP certification worth it? We’ve yet to tackle that question directly, so let’s have at it. For starters, PMP certification requires an investment of time and money. As of early 2023, the costs can run anywhere from $750 to $3000. We’ll talk more about the price later.
However, take a step back and consider the implications of certification. When you’re certified, you have verifiable proof that you have the proper skills, tools, and training to perform the job you’re interviewing for. Furthermore, a recruiter can check and confirm that certification. So, certification gives prospective employers an easily proven assurance that you’re qualified for the job. In addition, recruiters prefer to avoid hiring people who end up being a bad fit, so certification helps them mitigate that risk, and you can be sure they will seize that chance when offered.
Let’s break down the advantages of PMP certification into easy bullet points to help you understand whether a PMP certification is worth it.
- Certification increases your value in the job market. Your certification gives you leverage when negotiating a higher salary, something your non-certified peers don’t have. You get this leverage because certification makes employers believe you have superior abilities and domain knowledge.
- Certification carries weight with recruiters. As previously mentioned, PMP certification gives you a potential edge over a similar candidate who needs to be certified. In addition, certification provides proof of your skills and experience.
- Certification gives you the opportunity to sharpen your communication and leadership skills. If you become a PMP-certified project manager, you will enhance your communication and leadership skills. So much of project management depends on good communication between teams, and effective managers can lead communicative teams to higher levels of performance and success. Practice through PMP the certification process ensures sharper skills.
- Certification gives you an edge when doing projects anywhere in the world. We live in a world of increasing globalization. Consequently, many businesses hire certified project managers to lead projects in cities and nations worldwide. Your PMP certification gives you an advantage in meeting these overseas challenges.
- Certification leads to great networking opportunities. Sometimes, in the business world, it’s not what you know but who you know. If you gain certification and join the PMI, you gain access to an exciting network of peers who can support you in your career (and vice versa, of course!).
What Does PMP Cost?
PMP certification costs less if you have PMI membership. The annual PMI is $129 for individuals, plus a one-time $10 joining fee when starting. So, for $139, you can join the PMI and be a member in good standing for one year. Additionally, students entering the PMI pay $42 for their initial joining fee, then $32 a year to renew.
The PMP certification exam costs $405 for PMI members and $575 for non-PMI members. So, membership in the PMI pays for itself! Also, PMI members can download the PMBOK Guide for free.
Also, note that your PMP certification must be renewed every three years from the date you passed the PMP exam. To renew a Project Management Professional (PMP) certification, you must earn 60 PDUs per three-year cycle. Renewal costs $60 for PMI members and $150 for non-members.
Is PMP Certification Worth It: A PMP Salary Survey
So how much does a PMP-certified project manager earn? According to PMI.org, the median salary for PMP-certified professionals is 32 percent higher in the United States (and 16 percent higher worldwide) than for project managers without certification.
Additionally, Indeed.com reports that PMP certification is one of the top ten best-paying IT certifications this year. But how does this translate into actual numbers?
According to Glassdoor.com, a PMP project manager in the United States earns an annual average of $110,176, with a range of $68K at the low end and $182K at the high end. If you can accumulate ten years of project management experience, you can earn $125,792.
Do You Want Better Project Management Skills?
So, is PMP worth it? It appears that, yes, very much so! PMP certification gets you trained in the best project management methods and shows the world you have what it takes to get the job done. If you want a skill set that’s better prepared to manage projects, you should sign up for this excellent and informative project management certification program.
Collaborating with the University of Massachusetts, Simplilearn will turn you into a digital-age project leader through its six-month Post Graduate Program in Project Management.
You can boost your project leader journey through this certification course, which is aligned with PMI-PMP® and IASSC-Lean Six Sigma. You will attend live online interactive classes and tackle real-world capstone projects, acquiring skills in:
- Agile Management
- Customer experience design
- Design Thinking
- Digital Transformation
- Leadership Skills
- Lean Six Sigma Green Belt (LSSGB)
- Project Management
- Project Risk Management
In addition to earning your project management PMP certificate, you will also earn 146 PDUs to help maintain your CCR for PMI-related certifications and get offered membership to the UMass Amherst Alumni Association.
So, don’t delay. The world of project management needs qualified certified professionals who can tackle the challenges of the 21st-century digital world. You can become a part of that world, by pursuing a rewarding, secure, and profitable career. So, sign up today, and take that first step into project management.