Getting a PMP certification can be costly, time-consuming, and requires a lot of effort. So, is it really worth it? Experts say yes! Even though becoming a Project Management Professional (PMP) takes a lot of work, the benefits you get, like a higher salary, make the time and money you put into it worthwhile... 44% more!
In the next 10 years, the demand for project managers is expected to grow faster than most other jobs, according to the U.S. Department of Labor. At findcourses.com, we’ve also noticed a rise in interest in specific project management certifications[ET1] like PMP (+74%), PMI (+17%), and Certified Scrum Master or CSM (+723%), highlighting the increasing appeal of this career path.
Read on for the details as to the what, why, and how a PMP certification can increase your salary.
What is a PMP certification and who can get it?
Let's start with the basics: What is a PMP certification? The PMP, or Project Management Professional certification, is offered by the Project Management Institute (PMI), the top organization in project management. It’s a well-known certification for project managers and is respected in almost every industry.
Project managers work in all kinds of fields, like finance, insurance, travel, healthcare, IT, and more. Their main job is to manage projects within their company, making sure everything is done correctly and on time. This includes keeping track of team members, meeting deadlines, sticking to the budget, and other responsibilities. It’s not an easy job! So, if you could earn more money by getting certified and taking a test, why wouldn’t you?
What are the benefits of having PMP certification as a project manager?
Skills
While you don’t need a PMP certification to be a project manager, having the certification shows employers that you have the up-to date knowledge of current ideas in project management and scheduling. It proves you have strong project management abilities and experience to complete projects to a high standard and can work in any industry.
According to Tim Wasserman, Program Director of Stanford’s Advanced Project Management Program, industries with strict rules especially value PMP because it shows you can follow detailed processes, which is important for sensitive projects.
Worthiness
Getting a PMP certification takes time, money, and effort, but it’s worth it. The certification not only boosts your skills but also increases your earning potential. Project managers with a PMP certification often earn more than those without it because the certification proves you can handle challenging projects and deliver results. It’s like having a seal of approval that makes you stand out to employers, which can lead to better job opportunities and career growth.
Global Recognition
The PMP certification is recognized worldwide, which means it can open doors for you in different countries and industries. Whether you want to work locally or internationally, having this certification shows that you meet a global standard for project management. It’s respected by companies all over the world, so it can help you find jobs not just in your country but anywhere your career might take you.
Networking and Career Growth
There are over 1.4million PMP holders worldwide, according to the Project Management Institute. According to the PMI, members indicate that getting PMP certification has been valuable to their careers and has significantly contributed to their salary growth
Is PMP certification still relevant with AI?
With the rise of AI, some people might wonder if getting a PMP certification is still worth it. While AI tools are great for automating tasks, managing data, and making predictions, they can’t replace the human skills needed for project management.
A PMP certification teaches you how to lead teams, solve problems, and make important decisions—skills that AI can’t fully handle on its own. Project managers still need to guide projects, communicate with team members, and adapt to changes, which are all things AI can't do without human input.
AI can help make a project manager’s job easier, but it can’t do everything[RE2] . The PMP certification shows that you have a deep understanding of project management principles and can use tools like AI effectively. You will need to know what AI can and cannot do.
In fact, knowing how to work with AI is becoming an important skill for project managers, and a PMP certification can set you apart by proving you have both the traditional skills and the ability to adapt to new technologies.
So, even with AI, a PMP certification remains a valuable asset in the project management field.
Does PMP certification improve your salary?
There are many rumors floating around that having a PMP certificate means a big salary increase. Are the rumors true? To be blunt, yes.
According to 20,000 PMP-certified respondents in 21 countries of The PMI Earning Power: Project Management Survey—Thirteenth Edition (2023), they make an average of 33% more than their non-certified counterparts. In the U.S., PMPs make 44% more than noncertified project management specialists.
Current PMP median salary in the US is $120,000, the highest in the world. It represents a 44% increase in salary over those who are not PMP certified.
Keep in mind that besides the PMP certification, the top 7 key factors that influence salary are:
- Position/Role in project management
- Average size of project
- Average project budget
- Average project team’s size
- Industry
- Numbers of years experience in project management
- Location of job
Since type of industry is important to your salary projections, here is a list of industries where strong project managers are invaluable:
- Construction
- Engineering
- Information Technology
- Finance Sector
- Healthcare
- Marketing
- Manufacturing
- Law
- Consulting
- Energy and Utility Services Industry
Is PMP certification worth it?
Project management is no longer considered to be just a profession, it is a strategic competence that is key to the success of a business. Due to the increase in company-run projects, the demand for competent and skilled project managers is continuing to grow worldwide.
With over 1.4million project managers PMP- accredited globally, becoming certified is no longer a suggestion-- it's a necessity. Those that are not certified will find themselves at a great disadvantage when it comes to job opportunities, career advancement and salary growth.
Labelled as "the most important industry-recognized certification for project managers" by the Project Management Institute, a PMP certification is the top way to differentiate yourself from others and grow faster as a project manager.
How to get PMP certification?
In order to become a Project Management Professional, you have to pass the PMP exam. Sounds simple enough, right? Unfortunately, it’s not that simple – hence the pay raise that comes with it.
According to PMI, those that are eligible to apply for the PMP are experienced project managers who are responsible for all aspects of project delivery, leading and directing cross-function teams.
Depending on if you have a secondary degree or a four-year degree, eligible candidates must either have 4,500 hours or 7,500 hours of experience leading and directing projects, along with 35 hours of project management education.
After project managers meet these qualifications, they are allowed to take the exam. The PMP exam costs $405 for PMI members and $655 for non-members.
As explained in the beginning, this is not an inexpensive or easy certification to obtain, but if you weigh the costs against the benefits, the benefits always come out on top.
Ready to start working towards PMP certification?
