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The Value of Getting PMP Certified
August 13, 2007 | Author: PM Hut | Filed under: PMP
The Value of Getting PMP Certified
By Vicki Wrona, PMP - Global Knowledge Course Director
Anyone working around the field of Project Management knows that the field is growing, and the PMP (Project Management Professional) certification is hot. Just how hot is it? What is the value of getting certified? This article will explore those questions.
Let’s Talk Money
The first and foremost question on everyone’s mind is money. What is the PMP certification worth? Can I command a higher salary if I am certified? Results found on www.payscale.com/salary-survey can answer that, and the short answer is ‘yes’. According to payscale.com, median salaries for PMPs are up to 30% higher than those for non-PMPs. For example, salary increases range from 6% in Chicago and 8.6% in New York to 28.7% in Atlanta and 29.7% in Dallas. Several cities are listed below for comparison:
| City | non-PMP | PMP | % Change |
| Atlanta | $67,000 | $86,250 | 28.73% |
| Chicago | $70,742 | $75,000 | 6.02% |
| Seattle | $70,512 | $83,500 | 18.42% |
| Dallas | $69,000 | $89,500 | 29.71% |
| New York | $87,500 | $95,000 | 8.57% |
| Los Angeles | $76,000 | $95,000 | 25.00% |
| Houston | $65,300 | $80,950 | 23.97% |
To reinforce these numbers, another group, Redmondmag.com, “the independent voice of the Microsoft IT community,” recently published the results of their 2005 annual salary survey. In it, the PMP credential is listed as having the third highest average base salary among non-Microsoft certifications. The non-Microsoft certifications listed as having higher average salaries are the IBM WebSphere and Hewlett Packard Master ASE certifications.
To further reinforce the value of Project Management as a profession, PMI recently posted the results of their 2005 Compensation Statistics at http://www.periscopeiq.com/pmisalary/default.aspx. The survey shows that the median salary for all Project Manager job titles in the United States is $90,000, with an average of $93,102. This data is not broken out by PMPs versus non-PMPs, but does demonstrate that the profession in general is held in high enough regard to garner such a salary level.
How Hot is Hot? Let’s Talk Demand
Another consideration is the demand for the PMP certification. As of March 2006, 85%, or approximately 185,000, of PMI’s 218,000 members are PMPs, and that number is growing. Every day, more companies are requiring that their Project Managers are certified or are requiring certification in order to get promoted. The U.S. government is pushing the certification as well, strongly encouraging (in some cases, requiring) government employees and contractors to hold the certificate as well. Many government bids now require that the Project Manager hold the PMP certificate in order to bid on a project. In the Redmondmag.com survey, over half of respondents reported that they believed a certification improved their ability to keep a job or find a new one.
Further demonstrating this need is the finding in PMI’s 2005 survey to 7,350 randomly selected members (2,035 responded) that over 61% of respondents said that their organization had a PMO (Project Management Office) and 70% reported that their organizations had “medium” or “high” Project Management maturity. This Project Management sophistication will demand the knowledge demonstrated by someone holding the PMP certification.
One survey that highlights the increased demand for the PMP certification is CertCities.com’s listing of the 10 Hottest Certifications for 2006. The PMP debuted in 2005 in 10th place. Now, in 2006, it is ranked as the 4th hottest certification. According to the CertCities web site, the rise in ranking is due to the “even stronger buzz for this industry-neutral title within the IT community.” The site states that “there’s always a need for those who understand project management.” The site also states that “the recent updates to this certification have kept it current.”
In addition, CIO magazine, with a global audience of more than 140,000 chief information officers and senior executives, surveyed over 500 IT executives. According to the “State of the CIO 2006″ report, over half of the respondents listed Project Management as the skill they look for most when hiring IT professionals.
In summary there are numerous and current examples of increased pay and increased demand for the PMP certification. If you have been debating whether or not to get certified, it would seem that it is worth your while.
Prepare for the PMP exam
One way to prepare for the PMP exam is to take Global Knowledge’s PMP Exam Prep Boot Camp. Through proven lecture, exercises, group activities, practice exams, and study aids, this course minimizes the self-study time necessary to pass the exam.
This article was originally published in Global Knowledge’s Business Brief e-newsletter. Global Knowledge delivers comprehensive hands-on project management, business process, and professional skills training. Visit our online Knowledge Center at www.globalknowledge.com/business for free white papers, webinars, and more.
© Copyright 2007, Global Knowledge. All rights reserved.
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[...] solid PM competency. A quick search for project management on any of the job boards will reveal the demand for PMPs. Nearly every PM posting lists the PMP certification as a required or desired [...]