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Discussion in 'PMP' started by Tracey Sharp, Feb 16, 2015.
Can someone tell me the cost of PMP certification?
PMP certification is one of the most sought after certifications in the professional industry. But at the same time, professionals worry about a factor that is not really something that you need to worry about: PMP certification cost.
The value of PMP certification cannot be judged by its cost. The certification training will give you knowledge that will hold you in good stead over the remaining part of your professional career. With this knowledge, you can come up with new ways of handling the professional challenges that you are bound to face at some stage of your career. This is something that you cannot put a price tag on.
It is better if you focus on the PMP certification instead of its cost. Don’t make the cost a determining factor in whether you take the training and get certified or not. It is a onetime investment that you make to safeguard your professional career.
PMP certification cost is one of the hottest topics that are discussed on internet forums, groups and job boards. One constant query is the reason for the difference in PMP certification cost from one institute to another. Here’s what you need to know about the variation in PMP certification cost.
PMP certification cost is determined by a number of factors. Firstly, the material and resources that are offered for training differ from one institute to another. Some provide only online resources while others offer both online and offline resources.
Then there is the question of classroom training. Some institutes offer classroom training via virtual classrooms over the internet while there are some that organize live classes at some locations. There are also institutes that offer no classroom training. All these are a few of the main reasons for the fluctuating PMP certification costs.
I agree with Bernadette, one should not look at cost as factor. I learnt this by my own experience. I first took my 4 days workshop (35 PDU in PMBOK 4th edition) back in Oct 2010 as career investment. I did my PMP in Sept 2014 on PMBOK 5th edition. Quite a huge gap right? but I still pursued
Investing in PMI membership (though optional),
Buying sample tests (though you get some on the web for free),
Buying books (despite of access to library)
even when I had some financial constraint to manage on personal front. However all that adjustment was worth as gained knowledge & professional awareness which can't be measured in cost.
But if one still wants to consider it upfront then Paul has given good brief.
A PMI PMP Credential holder earns in six figures in the USA
A major priority of a job is salary and everyone values it irrespective of positions and career fields. According to the statistics provided by a search engine for jobs, there is a huge difference between the salaries of PMP certification holders and the non-credentials. And with the increasing number of PMP Credential holders with time, not earning a PMP certification might leave you much behind in the moving race.
PMP Salary Statistics:
According to new research from Project Management Institute based on PMI® Project Management Salary Survey — Seventh Edition –
71% of project managers received an increase in compensation over the last 12 months, with median salaries in top-earning countries exceeding $100,000. In addition, survey data says that the longer PM professionals hold PMP Credential, the higher their salaries.
Project Management Professional (PMP) credential holders in the U.S. earned an average of 16% more (approximately US$14,500) than their non-credentialed peers in 2011.
While the average salary of a PM in New York is $88,000, the average salary for PMP Certified PM goes up to $272,000. Similarly, PMP Credential holders earn up to $255,000 in Chicago, IL, $259,000 in San Diego, CA, $281,000 in Boston, MA and $311,000 in San Francisco, CA.
Below is a list of average PMP salaries across the USA:
Cities Average PMP Salary
New York, 105K
San Francisco, CA - 120K
San Diego, CA - 100K
Boston, MA - 109K
Philadelphia, PA - 113K
PMP Salary in India:
According to a statistics provided by Payscale.com, a popular site of salary statistics states that a PMI PMP certification holder in India can earn up to 25 lakhs. The average PMP salary in India is 22 lakhs.
Based on the average PMP salary across the globe, earning a PMI PMP Certification proves to be an ideal bet for project managers looking forward for a salary hike.
To answer your question: From the PMI site.
There are a lot of reasons why you should pursue the PMP certification, but you are the only one that can decide those reasons.
Salary? Prestige? Confidence? Ego? Job requirement? the list goes on.......
Again from the PMI Site: look at the attachment below
As you can see, you'll save a significant amount of money just by being a PMI member, not to mention all the other great opportunities that PMI memership offers, including educational and career wise.