Everything You Need to Know About the PMP's Employment and Pay Stakes in 2023
The PMP® Certification
Would it help me get a job? Many aspiring project managers frequently ask themselves this question when thinking about Certification.
It makes sense to weigh the price and time commitment of the Certification against the potential rewards before moving on.
The PMP certification is unquestionably proper. According to PMI data, a certified PMP can anticipate a 20% pay increase. The significant return on investment from this accreditation has been noted by other project managers as well.
PMP-certified project managers earn 20% more money than unqualified project managers do.
Only 58% of companies truly understand the advantages of project management. This allows you room to develop your project management abilities.
According to PMI's annual study, 68% of businesses, or more than two-thirds, reported using contract or external project managers in 2018. This suggests that companies are looking for qualified project management professionals to join them.
PMP salaries in India can range from INR 17 lakh to INR 12 lakh annually, according to a survey of 26,000 project managers performed in over 34 countries involving 17 million project managers. So, just by looking at these PMP revenue numbers, getting a PMP® certification is profitable.
The PMPCompetitive ®'s Advantage
More people are enrolling in certification programs to set themselves apart from their colleagues who do not hold certifications by enhancing their resumes and offering proof of their commitment. Certifications are a significant plus on a resume by both candidates and recruiters.
The typical base salary for a PMP certificate holder who has held their certificate for five to ten years is $113,000 per year. The average annual salary for a PMP credential holder with ten or more years of Certification is $120,000.
The PMP® Certification Can Help You Land a Great Job in These Five Ways
1. The PMP® Makes a Statement on Your Resume.
The difficulties one must overcome to obtain the PMP® professional Certification are widely known. It is revealing to most companies because overcoming these barriers takes time, effort, and commitment. Certification will enhance your resume if you are new to project management. Being certified will help improve your career as a veteran with a proven track record! The Certification is frequently used by recruiters to whittle down the pool of prospective employees.
According to Rosemary Guzman, an executive recruiter at Hook the Talent, many employers favor this Certification over even a master's degree. There are many essential benefits to earning a master's degree. A PMP®, nevertheless, attests to the high standards reached and accepted by the Project Management Institute. This federal agency is in charge of project management. The PMP® certificate has a training program with extensive exposure to industry projects.
Tim Wasserman, the director of Stanford's Advanced Project Management Program, claims that without this PMP® Certification, applicants for positions in highly regulated businesses like the pharmaceutical, financial, and aerospace sectors are not even given consideration. These sectors respect the PMP® because it enables them to manage regulated and sensitive projects by adhering to rigorously specified protocols, such as creating new medicines for the general public.
2. Training For The PMP® Is Offered In A Common International Language
Along with expanding your career options, PMP® training helps you gain a solid understanding of the language used by executives and other project managers. PMP® training demonstrates project components that a candidate could not previously articulated. The goals of the project, the resources needed, the presumptions made, and the risks accepted, for example.
3. Potential Contacts for Networking
The PMI regularly arranges meetings where members congregate to network and learn more about the project management industry in the most significant metropolitan locations. Additionally, these meetings are made to help PMPs® get the PDUs required to maintain their Certification.
During these networking events, the members looking for other PMP® experts will showcase a wide range of fresh career opportunities. During these sessions, people frequently allot time to discuss the employment options available at their respective organizations.
In addition to PMI events, there are many additional venues where PMP®s can network, communicate offline and online, consider potential career routes, and stay up to date on recent developments in the project management industry.
How to Earn the PMP Salary You Deserve
Thanks to the resources and other essential details we mentioned in the post, we hope you were well-prepared.
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