Is PMP Certification Worth It In 2020? Salary vs. Cost

SPOTO Club written 4 years ago

You would say that the salary increase might only happen after you would have successfully cleared the exam, and before that, you would have to go through the grind of clearing the exam. You would ask if it would be of any worth of the trouble given that the PMP exam is considered to be quite costly and expensive, and it is going to require lots of time and effort. If you wish to obtain success in your PMP Certification, the best bet you would have would be to get the PMP exam practice tests!

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Well, your doubts are well established. Salary and emoluments would be able to tell us only half of the story. The other half is considered to be the cost of preparation and taking the exam.

Let’s determine the cost and potential increase in earnings for determining if PMP is worth it or not.

Table of Contents

Is PMP Certification Worth It For Your Career?

There would be no second thought that the cost of PMP certification is considered to be that much high. You might be able to delay the idea of clearing the PMP exam temporarily. But you must know that you are potentially losing a 20% increase in your salary by acquiring the PMP. The featured attraction of this certificate would be that the higher wage offered to the PMP credentials. In numerous sectors, the average salary of a certified manager is considered to be relatively higher substantially.

PMI salary survey would suggest that the project managers with PMP credentials would have reported a higher median salary than those without it. There would have also been a nearly 20% hike on average around the surveyed countries.

PMP Cost

People working in the project management field would have the PMP Certifications as the highest valued qualification. So what would be the cost of doing PMP certification? PMP certification will be costing the candidates about USD 405 if they are a PMI member and USD 555 if they aren’t.

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PMP’s Salary

No doubt, PMPs’ salary scale is believed to be higher than the one who is without the certification. Not only would it be able to boost your career, but also, it will affect your network and increases your salary significantly.
The primary significance of PMP certification on salary would be listed below.
1. 20% hike in the salary of the PMP holder.
2. If a person would be working in the USA, the median salary increase will be about $116,000.
3. The countries where project professionals would have projected the highest median salary would be Switzerland (US$132,086), the United States (US$116,000), whereas the nations reporting the lowest median wage would have seen in Pakistan (US$14,914) and Egypt (US$13,933).

PMP Cost Vs. Salary

Let’s understand the difference between PMP salary and PMP cost. Suppose the total cost of PMP training and the study material would be about around $1500 and after the right preparation candidate would be able to clear the exam. The PMP-certified candidate would observe the growth of about 20% growth in their salary. Suppose a non-certified person earns $70,000, and after passing the PMP exam, he would be able to make $85,000 over one year, which means an increment of $1,250 for each month. Thus, he would recover the cost of PMP with a span of just three months from passing the exam. Hence, the salary benefit would indeed outperform the cost of appearing for the PMP exam.

Hence, if you wish to go for the PMP Certification, it would be a wise decision, and for that, you should gain the SPOTO PMP Exam Dumps to achieve sure-shot success.