PMP® certification works as a great career boost for project managers throughout the world. But do you have any idea about the PMP® Certification cost?
Plenty of people think of it as an expensive procedure, but that’s a great misconception. While it doesn’t come super cheap, it’s more reasonable and affordable than most other management courses.
On top of that, such a certificate is known to increase your chances of getting higher-paid jobs by 25%, compared to your non-certified peers in the same industry.
In short, this certification is well worth the money, and that’s something we can say for sure. So, let’s have a look into the overall costs that you should prepare yourself for to get a PMP® Certification.
How Much Does A PMP® Certification Cost Overall?
Like most other courses and exams, you need to invest in several aspects to get a PMP® Certification.
After hours of research, we managed to break down the total cost into three specific categories –
- The Hidden Opportunity Costs
- Preparation Material Costs
- Examination Fees.
Here’s an in-depth description of the spending methods to help you understand the procedure better.
Number One: The Hidden Opportunity Costs
The course itself costs a fortune, which we will talk about in a while. But before you even apply or complete the course, you have to study for months to gain full eligibility. In short, you’ll probably have to sacrifice your social life to achieve this certification.
It’s rumored that people spend over five hours a week for six long months studying for this course. Think of it as a hibernation period. You go into the study session as a total newbie and come out the other end full of confidence & skills. But all that is done at the expense of your social and personal hobbies.
Six months is a pretty long time. And if you are already a full-time project manager, it might take longer than six months for you. You’ll then need to invest in so many tasks simultaneously during this period.
For example, if the sessions are manual, you’ll need to factor in the transport fee in a tuition center, that too, every day/week. While that may not seem like much at first glance, it builds up to a lot more over time.
Plus, if you are signing up for a specific study session, you’ll need to pay more. Nothing comes for free in this modern world, after all. And we haven’t even considered food and drinks to this list of spending.
The situation gets even worse if you are currently without a job. Many people decide to not work for a while as they are trying for a PMP® certification. They want to start trying for better offers once they are more skilled and experienced.
It’s a good initiative if you can handle the living costs like rent, food, etc. But it’s not a good idea to invest all your last savings into a course.
You should maintain a plan B at all times, no matter how dedicated you’re about something. But fret not, if you’re in a hurry, there’s a solution for that as well. Furthermore, this solves a lot of problems at once!
And the trick is to go for an online course instead of a physical one! You don’t have to spend hours in traffic when you can get the same stuff right at home. What’s more is that, instead of six months, you can do it in a month or so!
Multiple online centers provide the required course and prepping info for a very low cost. You can check out our directions on online PMP® exam preparations to know more about that.
As for the benefits of an online prep, we will elaborate on that a bit further in a while. But for now, we urge you to set about $200-$300 aside for the total costs during the preparation phase.
This cost will, however, dramatically decrease with the addition of online learning. You’ll only need about 40-50% of the original investment just by taking transport fees out of the equation.
Number 2: Preparation Material Costs
You can’t prepare for an exam without investing in some preparation materials first. For PMP® certification, you’ll need to invest in the following prepping materials –
● PMP® Certification Training
● Related Courses
● Books, Laptops, Notebooks, etc.
Let’s go over them one by one to find out how much they cost in total.
PMP® Certification Training
This training is a must for all candidates. The first criterion is undergoing over 35 hours in project management training alone. While that may not seem like much, it’s quite a taxing procedure, even more so if you are inexperienced.
If you do manage to excel in the 35 hours part, you could fall short in other requirements. Certain programs, such as our 6 week-long intensive program, can help you get through this hurdle a bit more easily.
And as for the costs of training, it varies depending on your country and facility. But normally, it will be anywhere from $500 to $2500. Again, in highly developed countries like Australia, Canada, etc., the training fees will go beyond $3000. Keep that in mind if you want to get your certificate from a foreign country.
However, as we mentioned above, you can also go fully online for the training part.
Not only is it less taxing on the body, but it also saves you a fortune. Online PMP® training courses will bring down the overall cost to at least half the original amount. Shocking, right?
Of course, that way, you don’t get to quite a flex that you did your training from a reputed facility or something. But, trust us, such remarks are no longer a matter of evaluation in the job sector.
If you have the right skill-set, you don’t need anything else. So, why go for an extremely expensive course? Especially when you can get the same training for a lot less online?
For instance – at Examspm, you can get access to the complete PMP® Certification course for $600 only!
And it doesn’t just stop there. We have several course bonuses that range from $99 to $400. These bonuses will boost your overall performance and ensure a 100% pass guarantee.
Related Courses
Many people prefer to go for some additional training alongside the original one. Which is usually a good thing because it makes you seem even more qualified.
However, if you are willing to go for multiple courses at a time, you have to pay a hefty amount. But it’s best not to go for too many at once.
The reason is that they will distract you from the actual PMP® training course. But hey, remember the course boosts that we explained just a while ago? Those can help you out in this if you are truly passionate about some side courses.
They cover a wide range of training info regarding PMP® certification and give you personal assessments for those! So, if you just unlock these bonuses, you won’t have to look for other supporting courses elsewhere.
Books, Laptops, Notebooks, etc.
Well, quite self-explanatory there, isn’t it? You need access to several supporting materials to learn from training courses in the best possible way!
Now here’s another thing that sets online courses apart. Since all the course videos are automatically saved, you don’t need to buy any separate books for them.
You can just rewatch a certain part over and over again if you have trouble understanding a concept. Again, you can instantly make notes in the sidebar without having to scramble for a pen and paper.
But we do suggest you invest in a few renowned guidebooks for some exercise-solving. Each book can cost approximately $80-$150, depending on the author and extensive content inside.
Electronic devices and connections are, however, an absolute necessity. There are no possibilities of replacing them with anything else. On top of that, you need to have access to a high-speed net connection for the best possible results.
All in all, if you already own a laptop/PC, Wi-Fi can cost you anywhere from $20 to $100 per month. Don’t hesitate to invest in better supporting materials, though. They will take you places.
Number 3: Examination Fees
Now that you know about the course fees and preparation costs, time for the exam fee itself! So, buckle up and quickly revise all the PMP® lessons before you cross the final hurdle.
As for the exam fees, it’s more or less the same everywhere. You’ll need to pay $555 if you are a first-timer with no affiliations to the PMI. And if this is a re-attempt at the exam, you’ll need to pay $375.
However, did you know that you can take the PMP® Exam from home, too? It’s not much of a popular practice yet, and many people are still unaware of it. But it is surely gaining attention lately.
If you are unable to visit a Pearson VUE Test Center, you can take the test at home. Here’s what you need to know about taking the PMP® Certification Exam in the comfort of your home.
Can A PMI Membership Reduce The Certification Cost?
It absolutely can. And that’s not the only benefit that comes with having a PMI Membership. If you are super serious about your career as a project manager, this institution can help you out a lot.
If you have an existing PMI membership, the primary exam fee will cost only $405 instead of $555. Subsequently, the fees for the re-attempt examinations will go down to $275 from $375.
Furthermore, with a PMI Membership, you’ll have access to lots of important documentation. In addition to that, it will provide you with the resources to PMBOK® as well.
However, you do need to pay a small fee before enjoying these services. And you’ll have to renew it every year or so if you wish to continue your membership. The fee for a one-time application is only 10 bucks. After that, the membership fee itself will cost about $129. So, you’ll need to spend about $139 in total.
PMP® Certification – Worth The Cost Or Not?
It will cost $2500 or more to get a PMP® certification. That makes you question whether the certification is worth it or not.
But the truth is – it is. The certification will put you way ahead of your competitors as it reflects a genuine dedication to your work.
Adding the certificate to your CV increases the chances of you getting hired by at least 20%. And if you are already working, you can surely expect a decent boost in your salary.
And if you don’t receive any such appreciation, stay on the lookout for better offers. Trust us, the skills that you earn from the PMP® training have lots of value in this economy.
All in all, even though the cost may seem high, it’s highly rewarding in the long run. So, if you are an aspiring project manager, you should invest in this training to ensure a great career.
Conclusion
Did we clear all your confusion regarding the PMP® Certification Cost? Well, we hope you’ll leave with a clearer head now. However, if you need any further help, we got your back for that too. Check out our PMP® section to find all about exam preparation & procedures. Best of luck!
To learn how you can pass your PMP® certification exam in the next 6 weeks, sign up for a free class to get a study plan + valuable tips & tricks!