Project Management Institute (PMI) is the highly reputed and most recognized body in the world in the field of Project Management. PMI provides a certificate in Project Management Professional Training, PMP, which is the gold standard of all certificates in the field of Project Management. This certificate is globally recognized and highly valued in 187 countries in the field of Project Management. Approximately 1 million people appear for the PMP certification exam each year while the reported number of certificates issued every year by PMI is 100,000. The PMI certificate is the assurance to the employers, stakeholders and peers that the person knows what he is doing in Project Management and is proficient and knowledgeable enough to handle any project.
According to the research conducted by Project Management Institute, the median salary of a person having the PMI certificate is 25% higher than those who do not have the PMI certificate in the United States. A survey was conducted by taking 30,000 Project management officials as the sample size. The research reported that the annual compensation of 71% of the respondents had increased over a period of 12 months after they had acquired the PMP certificate from Project Management Institute. The compensation included bonus, salary and other benefits. Another report indicated that the average annual salary of Project Management Professionals had increased from $97,829 to $111,824 within a year of acquiring the PMP certificate provided by the Project Management Institute. According to the PMI Project Management Survey 7th Edition, a Project Management Professional with a PMP Certificate gets accredited with a scope of earning a six-figure salary in the United States.
The PMP certification also opens up new avenues. The PMP certificate is a great addition to the CV of a person and makes him eligible for quicker promotion or greater employment opportunities. According to a research conducted by PMI, 2.2 million new roles are going to be needed to be filled in project management in top companies each year until 2027. In India, the PMP certificate is valued by companies as an indicator of the person’s knowledge and experience in the field of project management. It adds value to their chances of employment and promotion. In fact, many organizations in India are making PMP certification a requisite and a filter criterion for the roles in Project Management.
The best prospect of having a PMP certificate is that it is not industry specific and is globally recognized so if you want to change sectors, you can do that easily and still maintain your credibility as the PMP certification gives you the framework and standardized practices for managing projects in any industry.
The most popular companies for Project management are Infosys Limited (average salary provided is 797 Thousand to 2 Million Rupees), Accenture (average salary provided is 700 Thousand to 4 Million Rupees), Capgemini (average salary provided is 842 Thousand to 3 Million Rupees), IBM India Private Limited (average salary provided is 538 Thousand to 3 Million Rupees), HCL Technologies Limited (average salary provided is 634 Thousand to 3 Million Rupees)
According to the research conducted by Payscale, the average annual salary for a Project management Professional in India with the PMP Certification is 1,724,509 rupees. The average annual salary for various job roles in Project management with the PMP Certification in India is as follows-