There are numerous advantages and benefits of PMP (Project management Professional) certification but the single most important reason for pursuing it is to get a hefty raise.
Here is a quote from PMI (Project Management Institute) salary survey.
Respondents with a PMP certification report higher median salaries than those without a PMP certification — 16% higher on average across the 40 countries surveyed.
You would agree with me that one of the main purpose of working is career growth and earning more money. A higher compensation can make us more happy and PMP certificate can help us in achieving that.
Higher earning is an important perk of the PMP credential but, apart from that, there are many other PMP certification benefits. These can be enjoyed equally by certified project managers and organizations that employs them.
In this post, I will talk about the value of PMP and its associated advantages for individuals and employers.
Advantages and Benefits of PMP Certification
1. Healthy Earnings and Compensation
The project management profession is one of the highest-paying professions in the world. According to indeed.com, average base salary of a project manager in United States is $74,962 and as per payscale.com, it is $75,884. These figures are much above the national average.
Additionally, a project manager in a high growth industry, with good project management experience, enjoying a high position, and having the right education can earn much more than the average.
This is where PMP comes in. It not only gives you a platform to get a good project management job but it can also boost your compensation.
Project Management jobs are high-paying jobs and PMP puts extra cream and cherry on top of that.
2. Increase in Salary
I think salary increase is the biggest perk of becoming a certified PMP.
We already know that a PMP certified project manager earns 16% higher on average than non certified project managers but this is just an average figure. The percentage changes from country to country e.g. PMP certified professionals in the United States get an average increase of 32%.
Here is a small video to find out how much your salary can increase after becoming PMP certified.
3. High Demand for Project Managers
The demand for project managers, especially with PMP certification, is growing every year. You would have noticed that a number of jobs profiles, nowadays, specifically ask for PMP certification.
At the time of writing this article. I did a quick search on PMP jobs. In US alone, Linkedin had 607,000+ PMP jobs.
4. Cross-Functional and Cross-Industry
Through 2027, the project management-oriented labor force in seven project-oriented sectors is expected to grow by 33 percent, or nearly 22 million new jobs.
High demand means increase in job opportunities for PMP certification holders.
Project management jobs are not limited to a specific industry or domain. They are cross-industry and cross-functional and PMP gives you an added advantage to get into these jobs. PMP can help you to move across industries to a totally different job profile.
PMP is a truly global certification. The skills acquired through PMP can help you in any domain and any project.
5. Scarcity of Certified PMPs
There are about 1 million certified PMPs in the world and PMP, by far, is the most sought-after project management certification in the world.
Given the current demand for the project managers in the business world, it is the PMPs who will get the first preference.
6. Large Professional Network
PMI maintains a very large network of PMI members. Some time ago there were more than 650,000 members in 300+ chapters across 213 countries/territories.
By being PMP you become a part of this large global network. You can exploit it to expand and meet your career goals.
7. Acquire Project Management Skill and Knowledge
PMP certification helps you to enhance your knowledge and learn new skills.
In order to prepare for the PMP certification exam, you will have to undergo a project management training and read PMI publications. You will learn finer nuances of the project management like how to manage conflicts and learn new techniques and best practices for handling projects.
After completing the certification, you will be able to implement some of these techniques in your projects. This can lead to greater hands-on experience and eventual career enhancement.
8. Respect and Recognition
There is a vast difference between the knowledge and skill of a PMP and non certified project manager. PMP certificate holders are recognized as most knowledgeable and skillful project management professionals.
Generally, PMP holders are appreciated by their seniors and peers. Organizations give them higher positions and greater responsibilities. They lead large and more challenging projects.
9. Learn to Speak PM Language
Every profession has a jargon and you must learn that jargon if you want to become part of that profession. PM jargon is contained in two PMI publications – PMBOK Guide (A Guide to Project Management Body of Knowledge) and Agile Practice Guide.
While doing the PMP exam preparation, you will have to study these books. These books will teach you the correct meaning and usage of commonly used PM terms. This will enable you to use these terms in the right setting.
In addition to explaining the PM terms, these books contain the fundamentals and best practices of project management, which can help you in managing projects.
You can become a PMI member to download these books free of cost.
10. Demonstrate Commitment and Dedication to the Profession
PMP certification proves your your dedication and commitment to the profession.
Very few people are able to attain the certification. It requires long preparation hours, perseverance, and a lot of hard work. You need to undergo 35 hours of project management education before you can apply for the exam.
The certification demonstrates that you have gone through the grind and acquired the PM knowledge. It establishes your value as a project manager.
Organizational Benefits of PMP
1. Clients Ask for it
Many organizations strongly believe that projects led by PMPs have a higher chance of being successful. They believe that there is a qualitative difference between a PMP professional and non certified project managers.
Such client organizations specifically ask for PMP certified individuals to manage their projects. Sometimes a proposal is not even considered if the vendor organization doesn’t have PMP credential holder.
2. More Successful Projects
PMPs generally follow a structured approach to complete their projects. They tend to handle their projects efficiently.
The likelihood of finishing a project within time and budget increases if a project is being managed by a PMP certified professional. They mitigate the risks and reduce adverse impacts on the project.
3. Implementation of Best Practices
PMPs tend to employ PM practices to complete their project. This improves the implementation of standardized best practices in an organization. In turn, it improves the overall quality and organizational culture.
In this article, I have described the top ten benefits of PMP certification for individuals. To add to these ten benefits, I have also described three more advantages for the employers and organizations.
In total, there are thirteen advantages that should compel you to get PMP certified soon. Some people may consider thirteen as an unlucky number but it is surely a lucky number for the PMP aspirants.
To start the PMP exam prep, you can download my free guide to know everything about the PMP exam. After that, you can head over to my article on the review of most popular PMP training courses to invest in a good PMP certification training.
Over to You
Out of the benefits listed in this article, which in your opinion is the most important benefit for your career? Do you think some other benefits can be added in this article?
I would love to hear from you below.