PMP Certification Salary: Have you thought about earning the PMP certification i.e. the Project Management Professional? It is the gold standard in certifications for project management which offers many advantages to those who pass the test. Visit this article for more information on these advantages and measures to receive your PMP certification.
Increasing your potential with the help of PMP certification
The money gain is worth the hard work while obtaining your PMP certification takes considerable effort and commitment. The possession of a credential reflects the capacity to command a team. Indeed, hiring a PMP holder can generate a high return on investment by an enterprise. You can decrease project spending and increase profits for their employer when hired by one company to successfully manage and deliver projects and use the PMP certification skills that you have gained.
Moreover, as companies adopt more project-oriented modes of operation, the role played by PMP certification holders is more important than ever.
Thus the need for project managers, change managers, project analysts, or the like will only increase as processes and business strategies change. High retirement or attrition numbers could contribute to this demand for PMP credentials.
The PMP Certified Salary Range
Because PMP certification holders give companies so much value, you can expect to earn more in your project management position compared with your previous salary or non-certified peers’ salaries. PMI estimates that project managers that are not certified in the USA earn about 92,000 dollars a year on average. The project managers who are certified as PMP earn $115,000 each year instead. This is an improvement of 23% based on the factor of certification of PMP. Moreover, as your project management career grows and matures, you should expect your earnings to continue to increase.
If a business needs to incorporate a new technological system around the organization or manage the entire transformation of the organization, PMP certifications are the people to operate. PMP-certified individuals are valuable assets – and it seems that businesses are getting the impression worldwide.
According to the PMI Earning Power Report, it is estimated that by 2027 90 million project-related jobs will be required to be fulfilled. Thus, in less than ten, the demand for PMP certified individuals is going to be staggeringly high, but are they going to be filled? Many project managers have been certified to this requirement.
The PMP certification is the world’s most recognized certification for project management. You would undoubtedly earn a higher average wage while keeping this credential, as described above. But also your peers, employers, and customers will earn you respect. This credential can be used to push your career to new levels.
One way to extend your career horizons is by obtaining a credential that acknowledges both nationally and globally. The PMP certification is internationally known with a reputation both within and outside the US.
Opens New Opportunities
Various clients and companies alike are quick in recognizing the advantages of owning the PMP certification holder on one‘s team. PMP certificate holders demonstrate the knowledge of the proven project management strategies, and they are also presumably equipped with incomplete projects on time and on budget. Then, if you’re looking for ways of taking on more responsibility, you can certainly open these doors with the PMP certification on your resume. Being a part of a recognition one receives as the PMP certification holder you are undoubtedly benefitted with excellent job security.
Companies do not want to engage in big ventures and then see them collapse whenever leadership rises in value. Once you have the ability to deliver projects consistently on time and within budget, the value of being in the team rises, and your job security increases.
It is also important to note that two key factors: experience and the scope of the project will significantly affect the average salary range. Now that you know better why PMP credentials earn more, let us examine these two factors that have an additional impact on earning potential.
What one can expect from the PMP Certification?
When you are a PMP certified professional, the value of your PMP salary can be expected to rise by up to 20 percent compared to a non-certified project manager. There is therefore a clear increase of 20 percent in PMP certification pay. Such figures are not invited, but you have this directly from the 9th edition of the PMI wage survey. What is the foundation for this salary survey for PMP certification? The PMP certifies salaries information is given by 26,000 project managers in 34 countries who have made a comment about the PMP certification pay rise.
|Project Manager (Information Technology)||$65,161 – $125,836|
|Project Manager (General)||$57,877 – $122,485|
|Program Manager||$68,150 – $139,552|
Depending on the type of job you are into, the PMP certification salary could vary. Since it‘s higher in the IT industry, one can get a higher PMP certification salary if you are on the Program Manager position. The figures for the US pay scale are mentioned in the above table.
Based on the size of the company also, the PMP certification salary can vary. From the above table, we see that the PMP certification salary estimates rise with the company size. For the United States, these figures come from the 2017 payroll scale.
|Company Size||Salary Range|
Investment for PMP Salary
You are now aware of the salary increase you can expect for the PMP certification. Anything you look at, you still learn from being a PMP Certified Project Manager by region, work, and experience. Let us understand what investment you need for income. You will invest in PMP preparation for 35 hours. While boot camps in class or in PMP are costly, you can get the online certification of PMP for up to $15 a month and a boot camp for PMPs online. You are free to use this site.
Although the actual PMP test costs, if set, savings shall only be rendered within 35 hours. If you don’t pay $555, you pay just $405 because you are not a member of the PMI Institute. Moreover, you will be charged $139 annually to PMI members, saving you a total of $11! Maybe you want to invest in a guide.
Weigh your investment and returns and challenge yourself! Read our article on the cost of PMP certification for details on how much you are going to invest.
You’ve seen that the PMP wage for any project manager regardless of country, experience, and work is attractive enough. Don’t expect it, because if you’re a PMP for a long time, you also have a greater benefit!