A lot of business professionals who are contemplating joining a certified PMP course, usually ask themselves if the certification is worth the investment of time, money and hard work that is needed to achieve the certification. Hence it is relevant to look at the other side of PMP certification and delve into the numbers so as to gain an understanding as to what a certified professional is expected to earn post completion of their professional PMP training course. This is done to clearly quantify the cost to benefit ratio in real terms.
Based on the 11th edition of “Earning Power” Salary Survey by PMI, those who have the PMP certification earn 22% more in mean salary than the mean salary of those people who do not possess PMP certification. This shows the importance of having PMP certification from a leading PMP training institute, thereby increasing the value of these professionals in the eyes of the employers. The survey was done by taking input from more than thirty-two thousand respondents from forty-two countries around the world providing a wide kaleidoscopic view of the impact that PMP certification has on a professional’s career.
There are also a host of factors which affect the income of a project manager and they are- their location or country of employment, number of years of experience, PMP certification status and the duration for which they have had the certification. Among these factors the certification from a leading PMP course has a positive correlation with 40 out of the 42 countries surveyed, with Japan providing no additional increase in salary while Turkey being the sole exception with it having negative correlation. In Indonesia and Philippines those who have successfully completed the top PMP training course they respectively earn 82% and 84% more than others.
This goes on to show the global impact that a prestigious certification such as PMP has on the earning capability of an individual. Thus, it is advisable for a professional in India to register with the best PMP course in India to take advantage of the marked increase in income that a certified professional benefit from. Not only does the certification provide an immediate benefit, it also provides benefits over time as the increase in income gets compounded over time to deliver a markedly superior return on the investment made for the certification.
In order to get a clear picture of the benefits of signing up for a leading PMP course, let us first examine the best-case scenario that is the earnings increase for professional in Philippines as a result of earning their certification. A non-PMP project manager was found to earn $20,131 whereas a PMP certified project manager earned $37,079 which is about $17,000 increase in their earnings capability as a result of completing their PMP training course. These differences increase further as they gain further professional experience adding on to a snowball effect on their incomes in the future providing gradually higher return on investment.
For the next country we can examine the differences in income earned as a result of having gone through the PMP training course in context of United States of America. There is clear increase in income after obtaining the PMP certification while its not as exaggerated as in the cases of Philippines and Indonesia it still stands at 26% increased income opportunities. While the median project manager’s salary in the US stands at $95,000 in contrast the professionals who possess the degree earn $120,000 which is $25,000 more in the salary, they draw for the same job role.
In the case of United Kingdom, the difference is significantly smaller with those having gone through the professional PMP course earning 12% more than the professionals who have not yet earned the PMP certification. Though this effect is muted in comparison to the previous cases yet in terms of cash, the differences are markedly significant. This amounts to the certified individuals earning $86,594 as opposed to those who do not have certification only earning $77,053 in return. Thus, individuals who have successfully gone through a top PMP training course get $9,500 more than the professionals who have not earned their certification.
Finally coming to the income generated by a project manager in India who has been through a top PMP training course the effect is similar to the previous case, with PMP certification providing a boost to their income by 13%. In terms of cash a PMP certified individual earns $28,750 and an uncertified professional earns $25,444 thus leading to a difference of more than $3,000. These differences are significant and tend to add up as one progresses further along their career pathway highlighting the difference PMP makes for a professional. Those seeking more detailed information can refer to the 11th edition Earning Survey by PMI.
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