Is PMP certification worth it? Find out in 4 steps

What is the worth of PMP certification confuses many professionals, especially with the increasing popularity of many other certifications. PMP, Project Management Professional, is the most in-demand certification in the field of project management. It requires considerable work to get certified as a PMP.

So, you may have several questions. Should you go for this certification? Will it bring value to you? What is it that a PMP certified project manager has that other project managers do not have besides, of course, the PMP certification?

To know this, you have to take a review and answer four questions.

1. Understand what motivates you? What are your needs?
2. Is PMP certification worth meeting your needs?
3. Do you have the capability to get this certification?
4. Do you have the capacity to take on this challenge?

So let’s explore these four questions.

1) What motivates you to get PMP certification?

Your internal desire and conviction may be driving your motivation. That is, you are intrinsically motivated. Maybe you are being encouraged by external factors like job hunting or salary increase. In other words, you are extrinsically motivated. Intrinsic is more about enjoying the experience, whereas extrinsic is more about savoring the result. Usually, our motivation comes from multiple factors, where one or two are the primary ones.

So what motivates you? Here is a quick list of some of the common motivations to go for a PMP certification.

Common intrinsic reasons

• I have to keep building my knowledge and skills.
• I desire to manage complex projects in the future, so I should learn more about project management.
• I love challenges, and I’ve heard this is a difficult exam to pass. Not for me.
• I enjoy learning new stuff.

Common extrinsic reasons

The following are some common extrinsic motivations.

• Many job advertisements ask for PMP certification.
• PMP can get me the promotion.
• I will make more money.
• The certificate will look awesome on my office wall.
• I want PMP written beside my name, and
• My co-workers will respect me and listen to my advice.

Are any of these your reasons for motivation? Discover your primary motivators before proceeding further. Why should you go for this certification?

Once you‘ve figured out your motivation and need, move to the second question.

2) Is PMP certification worth meeting your needs?

Certification can be a milestone that can enable you to move towards your goals. By establishing your objective, you are in a better position to check whether the PMP certification worth is significant enough to move you closer to your goals.

Intrinsic reasons showing PMP certification worth

From the intrinsic motivation point, PMP is a difficult exam that most aspirants will find quite challenging. So it will require considerable effort to prepare. Though most of the knowledge is common sense for project management experienced professionals, some topics are more complex or technical. These require good comprehension and review and will bring enjoyment for internally motivated individuals.

You will learn new tools and techniques to execute various project management processes. People have applied many project management techniques in other areas and even in personal life. After training thousands of professionals, we can say confidently that even the people with over 25-30 years of experience leave training with newly acquired knowledge. So there’s new stuff to learn, no matter how experienced you are.

If you have a long-term career plan, and this plan has some intentional project management somewhere, PMP will be an excellent booster.

Extrinsic reasons validating PMP certification worth

Next, review the extrinsic motivation reasons. If one or more of the following reasons match your motivation, then check out how valid is that reason.

1^st reason: Many job advertisements ask for PMP certification

It is understandable that for a project manager, PMP certification will be required or highly desirable. However, the employers are asking the candidates applying for non-project manager roles to possess project management competencies. In our opinion, project management skills are becoming proficiencies in-demand akin to Microsoft Word and Excel ones.

Here are a few examples of what real job postings are asking regarding project management skills.

• Operations Manager (PMP training and certification is a plus)
• Technical Account Representative (PMP or three-year experience managing projects)
• Quality Assurance Manager (PMP certification is an asset)
• Director, Transit (Ideally, you will hold PMP designation) and
• Manager Application Development (PMP certificate an asset)

So, Yes. PMP certification is one of the highest desired skills. If interest in a new job is your motivation, then the PMP certification is worth it.

2^nd reason: PMP can get me the promotion

Until and unless your boss advised you that you need a PMP certification for promotion, or there is a clear cut company policy saying the same, we doubt if anyone will get promoted or get a salary raise immediately after getting PMP certified. Frankly, a manager would care less if one of the employees gets PMP certification unless there is a performance improvement.

However, as you start showing confidence in your work, delivering valuable results, and taking on more responsibilities, the promotion and salary raise will come in due time, as discussed next.

So, if this is your motivation, you should better discuss with your manager the PMP certification worth as it relates to your job.

3^rd reason: I will make more money

Survey after survey has shown that PMP certification holders earn higher in the long run than the non-PMP professionals.

• According to Forbes, PMP certification increased in value by 18.6%, jumping the median salary of about $114,000 in 2018 to about $136,000 in 2019. That is an 18% increase in a year.
• In February 2020, Global knowledge published that PMP is the 5th highest-grossing certification with about $143,000 average salary.
• CIO magazine says PMP is one of the top-paying certifications in the world.
• Project Management Institute in the 10th edition of the project management salary survey, reports that PMP certification holders earn 23% more than the non-PMP holders. PMI used data collected from 33,000 respondents across 37 countries.

So, Yes. All of the above demonstrate that PMP certification is worth it when considering the return over the years. You will make more money as a PMP certified professional.

4^th reason: The certificate will look awesome on my office wall

Of course, you can put up the certificate on the wall after earning it. It will display that you achieved the prestigious PMP certification. Only about one million professionals have acquired it so far. You will belong to an elite group of professionals, so there is no harm in displaying the certificate proudly.

Having said that: this motivation will disappear once the certificate is up on the wall. You will start to look for your next credential. Therefore, we suggest that you review if this is your genuine motivation because it may not bring the long-lasting satisfaction you desire after such hard work.

5^th reason: I want PMP written beside my name

John Doe, PMP

Does it look good?

Putting the PMP beside your name does add value to the resume and visiting cards. It distinguishes you from other job candidates. The designation is an announcement that you have at least three years of project management experience, and you are competent in the best practices of project management. It confirms that you understand how project management works to bring a project to success.

Invitations to bid for services usually ask the bidders to provide resumes of qualified resources who will work on the project if they win the contract. The consulting and contracting firms improve their chances of winning the bids by showing that they will bring PMP certified professionals to the job.

So, Yes. Having PMP written beside your name is an excellent value-add.

6^th reason: My co-workers will respect me and listen to my advice

Looking for respect is not an uncommon reason for motivation because it brings great satisfaction. As a PMP certified, your opinion is now more knowledge-based and less intuition-based. Therefore, the knowledge will bring confidence in you as you will be making remarks that come from the best practices.

Previously, if someone in the meeting commented on something related to project management, your knowledge was based solely on your experience. So you’ll probably have said, “Geez, I don’t know. Maybe that approach will work.” You would likely not even remark. Now with at least as a PMP trained and hopefully certified, you know what the best practices are so you can comment on, with confidence, the opinion given by your co-worker.

Besides, PMP certification also shows your co-workers and managers that you are serious about your job and profession. It displays that you have built your proficiency in project management, and you are always looking to increase your expertise.

So these were the common extrinsic motivators to get PMP certified.

Are any of the discussed above reasons driving your motivation? Are you sold on the idea of getting PMP certified? If yes, then move on to the third question.

3) Do you have the capability to get the PMP certification?

To determine if you can go for the PMP certification and are eligible to take the PMP exam, you must meet three requirements.

Education requirement

You must be at least a high school graduate or equivalent. If you do not have a high school diploma, but you have other education, you should contact PMI and check with them if you will be eligible or not.

Experience requirement

If you have a 4-year bachelor’s degree or equivalent, you must have at least 36 months of unique non-overlapping experience in project management and 4,500 hours of work experience in leading and directing projects.

However, if you have less than a 4-year bachelor’s degree or equivalent, for example, you have a high school diploma or an associate degree, you need 60 months of unique non-overlapping experience in project management and 7,500 hours of work experience in leading and directing the project.

Project management education requirement

You must have completed 35 contact hours of formal education in project management. There is no published time limit for this, but it makes sense to have taken the training in the recent past.

So if you believe you are eligible and thus capable of going for the PMP exam, then proceed to the fourth question.

4) Do you have the capacity to go for the PMP certification?

The question of ample capacity is captured by answering whether you have the time and money to do it?

Time Factor

We have seen several cases where the person wanted to prepare and take the exam but could not. Either the aspirant had such a heavy workload that it became difficult to take out anytime for study or was going through some family-related issues that made it hard to find time for preparation. The point is that you need to ensure you will have time to spare for the exam preparation.

Cost Factor

As of 2020, the exam fee is US$ 555 plus any taxes for a non-member. However, as a PMI member, you will pay a fee of US$ 405 and the PMI membership fee of US$139 for the first year. So there is a saving of US$ 11. Besides many benefits of becoming a PMI member, you will save US$ 100 on the retake fee in case you do not pass the exam on your first try.

Another prevalent cost is the training cost. It can range from a few hundred dollars to a couple of thousand dollars.

You may look for any funding from your employer since many employers pay the PMP exam fee and training cost for their employees. You can provide supporting information to support your case for funding. If you are going to pay out of your pocket, then consider this an investment in your career that is well worth it.

Conclusion

Though PMP certification is a highly desirable certification, aspirants must see if it will help them meet their needs and goals. Nevertheless, we can say confidently that the benefits of this certification are worth the effort for most people.

We have looked at common reasons why professionals desire PMP certification. Part of the discussion focused on the benefits a certified individual can draw from it.

We hope that this step by step review of the four questions will guide you to make an informed decision.

Do you have a specific question?

Do you have a motivation factor not addressed here?

Let us know in the comments below.