Many aspiring project managers who are considering getting certified ask themselves, “Can I get a job with the PMP® Certification?, and if I do what will the PMP salary look like” The certification is an investment of money and time, so it’s understandable to decide first if it’s a worthwhile step. Let’s look at a few numbers and statistics to understand where the PMP certification might lead you to.
PMP certification is undoubtedly worth it. According to PMI statistics, a certified PMP could expect an increase in pay of 20%. This certification offers a significant return on investment, as other project managers have also conceded.
- A PMP certified project manager gets a 20% higher salary in comparison to a non-certified project manager.
- Only 58% of organizations fully understand the value of project management. This leaves a lot of room for you and your project management expertise.
- 68%, that is more than 2/3rds of organizations, in PMI's annual survey said that they used outsourced or contract project managers in 2018. This means organizations are rigorously looking for worthy project management professionals that can join them.
PMP salaries in India can range between INR 17 lakh per annum and INR 12 lakh per annum, according to this survey conducted in over 34 countries with 26,000 project managers. Well, these PMP salary numbers alone justify getting a PMP® certification.
Watch this video to understand how much does a project manager earn after getting PMP certified. Are you ready to accelerate your career?
PMP®’s Competitive Edge
An increasing number of people have enrolled in certification courses to spice up their resume by adding immense value and demonstrating proof of their commitment, in turn separating themselves from their uncertified peers. Having certifications on a resume is seen as a huge advantage by candidates and recruiters alike.
According to the PMI report, there are several reasons why the PMP certification should remain valid. An individual with a PMP credential who has held it for five and ten years earns an average base salary of $113,000. A PMP credential holder with ten or more years of certification earns approximately $120,000 on average.
The PMP® is not just the most reputable Project Management certification, but one of the best certifications to get across the board. Many professionals hope to achieve a PMP®, and when looking at the numbers it’s clear why. The chief draw of chasing a PMP® certification continues to be a high salary.
What else can a PMP® certification do for you? Can it guarantee a job in these highly competitive markets? Here’s how you can grab the PMP salary, you always wanted to!
5 Ways The PMP® Certification Can Help You Get An Amazing Job
1. The PMP® Makes Your Resume Stand Out
The certification is universally recognized for its obstacles one must conquer to become a certified PMP® professional. Getting through these challenges is telling to most employers because it takes time, effort, and commitment. As a beginner in the field of Project Management, a certification will add tremendous value to your resume. As a veteran with a proven track record, certification will take your career to the next level! Most often, recruiters use the certification to narrow down their candidate pool.
In an interview with Software Advice, Kevin Archbold, consulting manager at Key Consulting, said that while applicants are being filtered, many recruiters tend to divide resumes into two piles: one that consists of candidates with the PMP® certification stamp, and the other without it.
Rosemary Guzman, an Executive Recruiter at Hook the Talent, told the same source that there are many recruiters who prefer this certification over even a master’s degree. The master’s degree is important for other reasons, but a PMP® shows rigorous criteria has been passed and accepted by a national project management authority, Project Management Institute. The PMP® credential offers training with extensive, high-level exposure to industry projects.
Tim Wasserman, Program Director at Stanford’s Advanced Project Management Program, says that highly regulated industries such as pharmaceuticals, financial services, and aerospace do not consider any candidate for employment without this PMP® certification. Industries like these value the PMP® because it demonstrates an ability to adhere to strictly defined processes while overseeing regulated and sensitive projects like creating a new drug for public consumption.
2. The PMP® Imparts Knowledge Of A Common Global Language
In addition to improving your job prospects, PMP® training helps you acquire proficiency in the global standard language of Project Management that registers with executives and fellow Project Managers. PMP® training depicts segments of a project that a candidate could not have previously articulated. For example, the project goals, the necessary resources, the assumptions made, the risks are taken, and the constraints stakeholders operate under.
PMP® training provides a solid, time-tested framework that helps promote effective communicating. Once a candidate has the proven ability to identify and solve these problems, he or she automatically becomes more preferable to an employer. Knowing the common PMP language makes it easier to communicate with clients and vendors on a level playing field. Using the common language cuts down on the need to explain, give examples, and it makes brainstorming sessions quicker, easier and more productive.
3. The Demand For Certified Project Managers
As long as human enterprise exists, Project Managers will remain in high demand. A survey conducted by Enterprise Agile Coach Andrew Kallman on Simplyhired.com indicates that there are more Project Manager jobs in the market than there are for Agile Coaches, Agile Project Managers, CSMs, PMI-ACPs, or CSPs. The graph below shows the difference.
A survey conducted by ComputerWorld shows that 40% of the IT executives have declared that they intend to hire Project Management professionals.
The method used to handle projects is constantly changing, so any company addressing these issues needs formal and standard project management methods. Additionally, the number of new projects will continue to grow exponentially as new digital markets and industries are formed. For these two reasons, the demand for Project Management professionals should remain very high for a long time.
4. Networking Opportunities
To become a PMP®, a potential candidate needs to first become a member of the PMI (Project Management Institute) which introduces them to the world of certified Project Managers. According to PMI’s 2016 Annual Report, there were over 740,000 PMP® members spread across the globe, and this number continues to grow every year.
The PMI stages meetings frequently in most major metropolitan cities, where members congregate to learn more about the Project Management industry and network. These meetings are also set up to help PMP®s earn the valuable Professional Development Units that are necessary to renew their certification.
During these networking sessions, there is a wide scope of fresh career opportunities from the members who need fellow PMP® professionals. These meetings usually have time allotted for people to put forth the job opportunities that are available at their respective organizations.
Apart from PMI meetings, there are many other resources available where PMP®s can connect and interact both online and offline to build communities and explore potential career opportunities, as well as reflect on the latest developments in the Project Management domain.
5. A Little Experience Goes A Long Way
As was mentioned before, the PMP® exam requires aspirants to fulfill a set of prerequisites that are held in high esteem by employers. Candidates need to achieve thousands of hours of a high level of experience. With an associate’s degree, at least 60 months of experience is necessary to be eligible for the exam, while with a bachelor’s degree, close to 36 months of work experience is necessary.
There is a rigorous audit process to ensure that potential candidates are honest about their prospects. Now, with the PMP® on your resume, potential employers know that you have worked very hard to attain this certification and you have a good amount of quality work experience under your belt to validate your skills.
How Do I Get PMP® Certified?
With 32 hours of instructor-led training, 29 hours of high-quality eLearning content, 83 chapter-end quizzes and 5 simulations exams, and a 98.6% pass rate with a 100% money-back guarantee, Simplilearn offers the best PMP Certification course to help you train and achieve this highly sought-after certification and give your career a massive boost.
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Here’s How You Can Grab the PMP Salary You Always Wanted
The average annual salary of non-certified project managers in the U.S. is $93,000, according to the PMI. PMPs earn an average salary of $123,000 per year, which is an increase of 32% over those who are not certified.
Considering the ever-expanding job market, exclusive skill-set, and glowing reputation; a PMP® certification can definitely be the difference-maker when applying for a job in the Project Management industry. Employers sift through resumes for hours to find the perfect candidate. It is important to set yourself apart from your peers and competitors. You can also check out our PG Program in Project Management in collaboration with UMass Amherst, and stand out from the crowd out there. Get the learning started now!