As an aspiring Project Manager you may be wondering is the PMP® certification worth it, and how a PMP® can benefit you.job
For starters, the Project Management Professional (PMP®) is the most important industry-recognized certification for project managers.
This is because companies worldwide trust the PMP® certification.
Perhaps you are happy with your current career and looking to move up the career ladder.
Or, perhaps you want to change your career path and work in a new industry.
Either way, the PMP® helps you reach your career goals.
How can a PMP® certification help?
The PMP® certification is a highly-sought after certification.
This certification is recognized across many industries.
It carries a high value to employers and is not industry specific.
What exactly is the PMP®?
The Project Management Institute (PMI), the governing body behind the PMP® certification, encourages all qualified candidates to apply for a Project Management Professional (PMP®) certification.
The PMP® is consistently the highest paid IT certification, and salaries are only predicted to increase.
Not only does it have financial benefits, but the PMP® certification improves your job security.
A PMP® certification helps you keep your job during a downturn as firms value the core competencies that the PMP® certification brings.
1. Networking opportunities
With over 2.9 million PMI members worldwide, the PMP® is your gateway to a strong professional global community.
This global community has 774,000 active PMP® certification holders worldwide.
When you join the PMI and become a member, you become part of an elite group of highly-qualified professionals.
The PMI frequently hosts networking opportunities for members in major cities globally.
During these events, new job opportunities are shared by fellow PMI members, people who value the PMP® certification. The PMI even allocates specific time at these events to advertise such jobs.
PMI members and certified PMP® holders can enrol in workshops at these events and earn the required Professional Development Units (PDUs).
These PDU’s are an essential part of keeping the PMP® certification valid. They are required every three years.
In addition to these events, online and offline communities exist to help build professional networks.
2. Improved Reputation
According to a survey, PMP® certified managers lead and direct 80% of high-performing projects.
A PMP® certification also affects project performance, with over 35% PMP® certified project managers demonstrating high-value project performance.
If you are still wondering is the PMP® worth it, consider that the PMP® is recognised across multiple geographies and industries.
It is a formalized display of your professional ability, and demonstrates your personal drive to further your credentials, knowledge, and professional abilities.
Having a PMP® certification may also help your firm win contracts and business, making you more valuable.
The PMP® certification is a standard that project managers are held to. Regardless of one’s specific industry, a PMP® accreditation is proof that they fit the PMP® standard.
As part of your application process, you need to document all the projects you have executed. Why is this important?
Not only are those documents required as part of the certification process, bu also, the PMI audits approximately 5% to 25% of applicants.
What does this mean for a firm? It keeps the PMP® certification process rigorous. This means employers can rest assured that those managers who hold a PMP® certification live up to a high standard.
Which is great news for hiring managers. It is time and resource consuming for a firm to interview and assess applicants. So, by seeing a brand that they know and trust, the PMP®, employers can easily filter out candidates and shortlist PMP® certified managers for an interview.
3. You may already meet the qualification criteria
To qualify for the PMP® exam, you must have attained a certain amount of experience leading and directing projects.
Most likely, you probably already have all or nearly all the criteria required.
The PMI requires that candidates either have 60 months (7,500 hours) of experience with an associate’s degree, OR 36 months (4,500 hours) of experience and a bachelor’s degree.
If you are leading and directing projects, you likely have much of the required hours of experience already attained.
So, with all this experience, is the PMP® worth it? Yes. A PMP® certification proves to potential employers that you have ample amount of Project Management experience.
It also helps to distinguish you from other project management professionals.
PMP® exam questions focus on five project management process groups: project initiation, planning, execution, monitoring and controlling, and closing.
These principles apply to any project, in any industry. Successfully obtaining your PMP® certification proves that you understand the entire process of a well-run project.
4. Increased remuneration (money!)
Countless studies show that a PMP® certification can increase your earning potential.
PMP® certification holders earn between 20-25% more than their non-certified peers.
A certified PMP® manager earns $16,000 above their non-certified peers, with a median salary of $108,000.
Not only is there more financial payoff from having the PMP® certification, but, PMP®’s are more likely to weather an economic downturn.
This is because certified PMP®’s bring valuable core competencies that help firms even during a recession.
5. The time you put in pays off in the long-run
Several firms won’t even consider your application unless you have the PMP® certification. To them, the PMP® is mandatory.
So why do some people still wonder is the PMP® worth it? Well, the most cited reason why candidates avoid getting their PMP® is a perceived lack of time.
Although the preparation for PMP® certification can take a considerable amount of time, it pays off in the long run.
As mentioned, you probably already meet most of the criteria. Plus, you need to take the mandatory 35-hour PMP® Project Management Education.
Anything above that is prepping for the exam, by studying the PMBOK® and completing practice questions and exams.
Given the financial payoff, the reputational payoff, and that being PMP® certified can hedge against lay-offs during a recession, the question is no longer is the PMP® worth it, but rather, how can I get PMP® certified when I’m crunched for time?
Read here to learn how to crack the PMP® in 30 days.
What are the PMP® Eligibility Requirements?
It depends on your background. Check the table below to see what you need to qualify:
|Eligibility Requirement||Four-Year Post-secondary Degree||Secondary (or associate) Degree|
|Years of Project Management Experience||3 Years (36 Months)||5 Years (60 Months)|
|Hours Leading & Directing Projects||4,500 Hours||7,500 Hours|
|Hours of Project Management Education||35 Hours||35 Hours|
Still wondering, is the PMP® worth it?
Yes! The PMP® grows your career, is globally recognized, and shows that you have the skills and knowledge that a firm looks for.
These capabilities allow you to help shape an organization’s strategies, and lead an organization to success.