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Why PMP® ?

Project Management Salary Survey and How can I pass the exam?

Why PMP® certification is worth it?

What is a PMP® certification?

Project Management Professional PMP® is a globally recognized professional certification. It is offered by the Project Management Institute PMI®, a US non-profit professional organization. A well recognized and respected credential, PMP® is considered essential for the project managers. Especially, for those who wish to take the next step in their career.

What is the PMP® certification Exam about?

Project Management Body of Knowledge (PMBOK® Guide), with industry standards, is used as the guide for testing aspirants. The PMP® exam tests the applicants on tasks out of five performance domains

  1. Initiating the project (13%)
  2. Planning the project (24%)
  3. Executing the project (31%)
  4. Monitoring and controlling the project (25%)
  5. Closing the project (7%)

*the number in parentheses indicates the weight-age given to each domain in the exam.

The exam has about 200 multiple choice questions. Out of these, 25 are not counted towards the final score. These are used as pilot questions to improve the standard of the exam. But, one cannot know what the sample questions are as they are placed randomly throughout the exam. Also, it is a closed book test. It means that no reference material will be allowed to be used by the applicant during the test.

Certified PMP® holder Average Salary ?

a PMP® certification garner a higher salary (20% higher on average) than those without a PMP® certification.

Singapore 2018 Salary Survey Results:

  • 3-5 years experience Project Manager: 70,000 USD annual
  • 5-10 years experience Project Manager: 80,000 USD annual
  • 10-15 years experience Project / Program Director: 140,000 USD annual
  • 15+ years experience Project / Program Director: 180,000 USD annual
The Project Management Professional (PMP®) certification brings its holders 20 percent more in salary than non-certified practitioners, according to a new global survey by Project Management Institute. The survey found the median salary for U.S.-based PMP® holders is now $111,000.
Project Management Salary Survey
https://www.pmi.org/learning/careers/project-management-salary-survey

PMP Certification = Earning Power

The Project Management Professional (PMP®) certification brings its holders 20 percent more in salary than uncertified practitioners, according to a new global survey by Project Management Institute. The survey found the median salary for U.S.-based PMP® holders is now $111,000.

Project managers who earn the PMP® certification enjoy a significant advantage in terms of salary and earning potential over counterparts who don’t hold such certifications, according to Project Management Institute’s recently released Earning Power: Project Management Salary Survey, 10th Edition.

The survey — which collected self-reported salary information from more than 26,000 project management practitioners in 34 countries — reveals that respondents with PMI’s globally recognized Project Management Professional (PMP®) certification, garner a median salary that is 20 percent higher on average than those without a PMP® certification. The report provides salary information across 15 demographic variables, including position description, years of work experience, industry and type of project.

“This information is a must-have for project management employees and employers alike — not to mention compensation committees, human resources departments and executive recruiters interested in the project management profession,” said PMI® president and CEO Mark Langley. “The report includes eight major position descriptions and levels in its data, lending critical insight on roles ranging from entry-level project managers to senior executives.”

In the United States, project managers in the pharmaceuticals industry reported the highest median salary ($125,500), followed by those working in agriculture, mining and natural resources ($120,640) and consulting ($120,000). Other industries posting high median U.S. salaries include aerospace ($115,000), engineering ($112,000), utility ($110,425), government ($110,000) and information technology ($110,000).

The median salary of U.S.-based respondents holding a PMP® certification was $111,000 versus a median salary of $91,000 for participants without PMP® certification. Overall, the median U.S. salary was $108,200, with a median total compensation of $116,000.

Earning Power reports salary increases over the past 12 months and lists expected salary increases over the next 12 months. Among its key findings:

  • 72 percent of participants reported their total compensation (salary, bonus and other forms of compensation) increased during the 12 months prior to completing the survey, with 27 percent of respondents reporting increases of at least 5 percent during that same time period.
  • The median annual salary, across all countries, roles and experience levels is $81,000 (USD). The median salary varies widely from country to country, with the highest in Switzerland: $130,000 (USD).
  • The size of projects managed and their budgets often make a difference when evaluating salaries. In South Africa, for example, those managing projects teams of 20 or more people have a median salary that is 72 percent higher than those managing teams of one to four people.

Is PMP® certification worth it?

Should you get a PMP® certification? There are both costs and benefits to getting the PMP® certification. But, many hiring experts and certified professionals agree that benefits far outweigh the costs.

COSTS:

1.Exam Fee Expensive:

Member: US$405.00, Non-member: US$555.00

2. It is difficult

3. It is time-consuming

BENEFITS:

  1. Adds value to your resume
  2. Provides industry recognition
  3. Helps you learn important skills
  4. Contributes to higher income
  5. Networking opportunities

Conclusion

In summary, some people might view PMP® certification as expensive, time-consuming and difficult. But, many hiring experts treat PMP® certification as an important credential that adds credibility to your resume. Further, it helps you build essential skills required to excel in your career.

So yes! PMP® certification is worth the effort.

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