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Is PMP a good investment?

You may be apprehensive about pursuing the PMP certification because you’re wondering whether it’s going to be worth the time, effort, and money you’re going to invest, which leads us to a common concern: is PMP considered a good investment? Well, the short answer is yes! PMP is an undeniably valuable asset for your career. Keep on reading to get the logic behind this conclusion and to understand the numerous advantages a PMP certification can offer.

According to PMI, the PMP certification is held by over 1,000,000 people around the world, while there are more than 16 million project managers. Hence, the PMP certification is held by only 6% of project managers, making it a scarce asset among professionals. However, when compared to other certificates such as CSM, which has over 900,000 holders, PSM (Professional Scrum Master) with over 660,000 holders, and Prince2 with over one million holders, PMP is not as rare.

PMP has earned worldwide recognition over the years with a growing demand for qualified PMP professionals. In fact, if we look at the US market, we find more than 500,000 US companies looking for project managers who are pursuing the PMP certification or who already have it. On the other hand, according to the PMI register, the US has just 350,000 PMP holders. Therefore, with a higher demand for PMP holders than what the US market has to offer, PMP is proved to be rare.

Besides, the PMP exam has lately shifted from focusing on processes, tools, and techniques to a broader knowledge that can be applied to any industry or sector that involves project management. PMP became much more situation-based rather than theoretical or mathematical as it is now more centered on values, leadership, communication, and how to deal with different situations. 

The PMP certificate is highly-regarded in a variety of industries, including IT and construction. These industries value their certified project managers as they’re found to be more likely to complete projects on time and within budget. In other words, the PMP certification allows IT professionals, for instance, to efficiently manage and guide their projects through the use of suitable and advanced project management approaches. It also enables them to properly confront and handle occurring difficulties and challenges. 

Once you’re PMP certified, you can typically expect a large salary increase. PMP-certified project managers make 20% to 40% more than project managers’ average income. Moreover, a PMP can grant you better job opportunities. Unquestionably, it adds a lot of value to your resume as it is not an easy certification to obtain. If you conduct a small research on job offers on platforms like Linkedin, you will surely notice the high demand for PMP-certified experts. For project management roles, companies particularly require this certification. 

Furthermore, PMP-certified professionals are sought after by organizations to handle complicated projects, giving them an advantage over non-certified individuals. In conclusion, a PMP certification can help you get a better career with more responsibility, a greater role, and higher recognition. The credential being part of your CV reflects a glimpse of your knowledge, expertise, and talents.

It’s true that the PMP exam can take a significant amount of time, effort, and even money. However, the ensuing career shift and salary boost will be undoubtedly worth it.