The Project Management Professional (PMP) credential is, according to global trainer Arvind Rongala and management consultant Moira Alexander, the most sought after project management certification in the world. But what does this mean for certification holders? Here are the top ten benefits of earning a PMP credential.
1. Higher Base Salary
In the PMI 2015 salary survey, US-based respondents with PMP certificates earned a median salary of $111,000. This is compared to $91,000 for those without the certification (pg. 12). Even if you already hold a project management certificate, it pays to learn PMP.
2. Continually Rising Salary
A PMP certification offers more than a quick boost to your earnings. It can put you on track to keep earning more over the years. This is according to PMI’s 2015 salary survey. In the US, the median salary for PMP graduates after five years or less is $103,506. After ten years, it increases to $124,000 (pg. 12).
3. Promotion Prospects
Considering PMP graduates’ salaries continually rise, it’s no surprise this comes with added responsibilities. The PMI 2016 Pulse of the Profession quoted Norm Fjeldheim, Senior Vice President and CIO of Qualcomm. He said this career path “leads into a management track, which can go all the way to director or senior director and vice president.” (pg. 10).
4. Project Managers Are in High Demand
PMI’s March 2013 Industry Growth Forecast predicted demand for project managers in the US will grow by more than 12% by 2020 (pg. 2). PMP certified project managers are already highly sought after. With the GDP of project-intensive industries increasing, the demand is likely to keep accelerating.
5. Highlights Commitment
PMP certification holders can take full advantage of the growing demand for project managers. That’s because the PMP certificate is aimed at the most experienced project managers. It’s also maintained by earning 60 professional development units (PDUs) every three years. This level of commitment is encouraging to employers and it’s no wonder the PMP initials make such a difference to résumés.
6. Highlights Skill
Of course, it’s not just the required effort that makes the PMP certification so impressive. PMP is Project Management Institute’s flagship certification. Proving that you’ve put hours into leading and directing projects, completing the exam, and earning PDUs shows that you’re not just a certification holder, but an expert.
7. Client Recognition
It isn’t just employers that will be impressed by a PMP certification. It’s a valuable tool when you’re trying to win new contracts or meeting potential clients for the first time. In a job search run by PMI, they found that “709 (nearly 71 percent) of the project manager job listings on Monster.com either require or prefer the Project Management Professional (PMP) credential.”
8. Global Recognition
In a 2007 PricewaterhouseCoopers survey, they noted “77% of respondents have a documented, company-wide project management methodology” (pg. 16). They surveyed 26 countries across six continents (pg. 34). Learning PMP – the global language of project management – will not just improve your network, but also your marketing reach.
9. Projects Perform Better With It
According to PMI, “When more than one-third of [an employer’s] project managers are PMP-certified, organizations complete more of their projects on time, on budget and meeting original goals.”
10. Projects Suffer Without It
Organizations without PM methodologies report lower-performing projects. According to PMI’s 2016 Pulse of the Profession, 71% of projects meet original goals and business intents when project management culture is a high priority. When it’s a low priority, this outcome drops to 52% (pg. 7). Perhaps the best case for hiring trained PMP project managers is to look at businesses without them.
Make sure your projects perform better and increase the demand for your services. Start applying for your PMP certification today.