You know PMP or the Project Management Professional certification is considered to be very important to project managers. As a cost savvy project manager, equally important would be the PMP Salary hike expected or my ROI or Return on Investment. You could understand the PMP salary increase, the cost involved, and the benefits of both tangible and intangible from PMP Certification. Whether you would have a project manager in your organization and you, have seen some of your friends PMP certified but you also wish to know the salary hike. But you would also hear from them the hardship they have gone through to be part of that elite group of PMPs.
Average Salary of PMP in the IT Industry:
If you evaluate a PMP salary vs. non-PMP project manager’s salary, the difference is considered to be 20%- a sizable amount. In the United States, if you look at a median PMP salary, specifically a PMP certified project manager’s salary- it is $111,000 against $91,000 for a non-certified project manager. This is considered to be from the self-declared information of 26,000 project managers from around the 34 countries. The lowest PMP Salary in the list is considered to be Egypt.
If you are a project manager in South Africa, you would be able to gain the highest advantage of PMP salary, which is considered to be 47% more than your fellow non-PMP. While if you were in the United States or Canada, you would still be able to gain 22% and 21% in PMP salary, respectively, against your colleague who hasn’t got a PMP.
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Country Industry Median PMP Salary
Australia Agriculture/Mining $166,000
Australia Financial services and Consulting industry $ 150,000
United States Pharmaceuticals $125,000
United States Agriculture/Mining, Consulting $120,000
Canada Agriculture/Mining $115,000
Canada Utilities $110,000
India Agriculture/Mining, Healthcare INR 1800,000
India Telecommunication, Engineering INR 1700,000
Below mentioned are the figures from the ninth edition of ‘Earning Power’- salary survey from PMI. As you could see, whichever country or industry you would belong to, the earning power or PMP salary is higher than what you gain without certification if your next question is what would I require to invest in getting this extra benefit. Related reading: How much more do you make if you pass the PMP exam?
How much would be the struggle for a higher PMP salary?
Now that the PMP salary would be looking attractive enough, do you wish to know what it would take to gain there? You are required to understand the PMP certification requirements. Below mentioned s the road map for becoming a PMP:
Training For a Higher Salary:
Project Management education is considered to be the prerequisite for PMP certification. You would be having options for choosing from: live classroom, PMP Boot Camp Online, as well as PMP online certification. Live classroom sessions could be available for three, four, or five consecutive days or spread over two weekends. Classroom sessions or boot camps would be focused on completing the concepts, tips & tricks within that duration, and it is considered to be generally very rigorous. You would have guessed correctly, and these would be quite expensive in hundreds as well as thousands of USD. So, for the PMP salary, I would gain what the option is.
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