Project management as an industry has seen swift growth in the past few years. There have been tons of changes in how project managers used to manage the projects, their job prospects, roles, responsibilities, and even in the qualification of project managers.
It is evident that nowadays, companies prefer their project manager to be equipped with PMP certification before they allocate them to any project. According to PwC survey, three-fourths of high-performing projects are being handled by PMP certified professionals. And obviously, the success of projects being handled by PMP-certified professionals has higher success.
For now, let's talk about some of the benefits of PMP certification and try to understand if it is worth it or not.
What is a PMP certification?
PMP is a certificate offered by the Project Management Institute (PMI) that is globally recognized & is considered of great credibility in the field of project management. It is a well-recognized credential that boasts about the abilities & experience of a project manager and is considered crucial for the project managers.
The PMP exam tests an individual based on these parameters:
- Initiating the project (13%)
- Planning the project (24%)
- Executing the project (31%)
- Monitoring and controlling the project (25%)
- Closing the project (7%)
Benefits of doing a PMP certification
1) Adds Value To The Resume
There are tons of other professional certificates that you can take in project management, but PMP is undoubtedly the most valuable of all. Even interviewers prioritize the candidates that have PMP certification over the ones who do not have such accreditation.
For any company, assessing and hiring new employees is a time-consuming task; therefore, in the project management industry, hiring managers filter out the candidates based upon their certifications and experience. Some companies even make it mandatory to have PMP certification, which means you can't even apply for such positions if you are not PMP certified.
2) Helps You Improve Your Skill Set
Be it any industry, one cannot get too far in his career without having the proper skill set & knowledge.
Preparing for the PMP exam takes a lot of effort, and one can not crack it unless he or she has extensive knowledge of the domain. The PMP exam has very high standards. Accomplishing the PMP credential will ask you to learn several hard and soft skills. When you prepare for the PMP exam, you simultaneously build excellent knowledge of fundamental project management tools, techniques, and methodologies. Furthermore, you also gain a good understanding of the ongoing trends of the industry.
3) Provides Industry Recognition
As I said earlier, PMP certification is a globally recognized certification. No matter where you go in the world, your PMP certification will have the same value.
Also, PMP is one such certification that works with any industry. So, regardless of your industry & professional background, PMP certification would always add some value to your career. On top of it, there are hundreds of thousands of project managers out there in the market! How can you differentiate yourself from the crowd? The statement is PMP certification; having the PMP certification sets you apart from the rest and positions you as an expert who has adequate skills & knowledge of the industry.
4) Helps To Fetch Higher Salary
The biggest benefit of being PMP certified is that you can draw at least a 30% higher salary than average. Recently, a survey by "Project Management Institute" stated that the average salary of a PMP certified project manager is $ 1,08,000 while the average salary of a non-certified project manager is only $91,000. And this is happening all around the world because everyone recognizes the value that comes with this certification. Furthermore, PMP has consistently been one of the highest-paid IT certifications.
Is PMP certification really worth it?
We just had a look at the benefits that come with PMP certification but is it really worth it spending money and effort just for a certification?
Well, even though getting a PMP certification is financially expensive, time-consuming, and a hard nut to crack, but hands-down it is the best thing that you ever do in your project management career.
And I believe it makes some sense to invest your time and efforts to get the PMP certification and open new paths for your career growth. And if you are serious about cracking your PMP certification, jump on our guide on How to prepare for PMP exam in the best way possible.
Author Bio
Senior Data Scientist and Alumnus of IIM- C (Indian Institute of Management - Kolkata) with over 25 years of professional experience Specialized in Data Science, Artificial Intelligence, and Machine Learning.
PMP Certified
ITIL Expert certified APMG, PEOPLECERT and EXIN Accredited Trainer for all modules of ITIL till Expert Trained over 3000+ professionals across the globe Currently authoring a book on ITIL "ITIL MADE EASY".
Conducted myriad Project management and ITIL Process consulting engagements in various organizations. Performed maturity assessment, gap analysis and Project management process definition and end to end implementation of Project management best practices
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