Project managers know that PMP- Project Management Professional certification (Project Management Professional) is essential. Cost-savvy project managers know how important it is to understand the expected PMP Salary increase or my ROI (Return on Investment). It is easy to understand the PMP salary hike, the cost involved, and the benefits both tangible as well as intangible that come with PMP Certification.
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PMP Certification: PMP Salary and Struggle
You are a project manager within your company and have seen your friends become PMP certified. However, you want to know how much your salary will go. You also hear about the hardships they had to go through in order to become part of this elite group of PMPs. The question is: What is the cost and what is the benefit? What is the cost of PMP Certification? As a project manager, it is important to use your financial appraisal skills before selecting a project. PMP certification is not a project.
Hint: Are you wondering when you can take your PMP exam? Learn more about the PMP exam schedule, when the next PMP exam will be held and how to schedule it.
PMI Salary Survey: The Bottom
The difference in a PMP salary and a non-PMP project manager’s salary is significant at 20%. The median PMP salary in the United States is $111,000 for a PMP-certified project manager, as opposed to $91,000 for a noncertified project manager. This information comes from where? This information is based on self-declared information from 26,000 project managers across 34 countries. Which country do you think is the best for PMP salaries? It’s not the United States. Instead, it’s Switzerland with a median PMP Salary of $130,000. Australia, the United States and the United Kingdom are close behind. Egypt has the lowest PMP salary. We have also provided information about the Top 10 Most Paid Companies for Project Managers in a previous blog post.
You get 47% more salary as a project manager in South Africa than your counterparts who are not PMPs. You still get 22% and 21% respectively in PMP salary if you’re in the United States or Canada as opposed to your colleague who didn’t get one.
CountryIndustryMedian PMP SalaryAustraliaAgriculture/Mining$166,000AustraliaFinancial services and Consulting industry $ 150,000United StatesPharmaceuticals$125,000United StatesAgriculture/Mining, Consulting$120,000CanadaAgriculture/Mining$115,000CanadaUtilities$110,000IndiaAgriculture/Mining, HealthcareINR 1800,000IndiaTelecommunication, EngineeringINR 1700,000These are figures from the ninth edition of ‘Earning Power’- salary survey from PMI. As you can see, no matter what country or industry you are in, the earning power or PMP salaries are significantly higher than those who have not been certified. Here’s the answer to your next question: How much do I need to invest in order to get this additional benefit?
What is the struggle to get a higher PMP wage?
Do you find the PMP salary attractive enough? Would you like to know how to get there? The requirements for certification are important to understand. Let’s look at the steps to becoming a PMP.
Training for a higher salary:
PMP certification is a prerequisite for Project Management education. There are three options: live classroom, PMP Boot Camp Online and pmp online certification. You can choose to have live classroom sessions for three, four, or five consecutive days. Or spread out over two weekends. Boot camps and classroom sessions focus on learning the concepts and tips & tricks in a short time span. These are very expensive, costing hundreds to thousands of dollars. What is the best option for the PMP salary?
See our How much can a Project Manager earn? Video about PMP salaries
However, pmp online certification is much cheaper. Some providers offer off-line certification.