Two common questions that Project Managers usually ask before applying for a PMP Certification are:
- What is the current demand for PMP?
- How will the PMP affect my current salary?
While the first question was answered in a previous article, the short answer for the second is that the PMP effect on the salary can only be positive (and, in some rare cases, neutral). But the question is, by how much?
Clearly, this article can’t give a dollar number, as salaries are substantially different from one country to the other. A Project Manager in a wealthy country can easily earn several times as much as a Project Manager in a poorer country for the same job specification. What this article can give is a percentage.
Statistics have shown that, on average, Project Managers who have acquired a PMP certification had a salary increase of anything between 6% to 30%, depending on the location and the organization they’re working in. Note that even within the same country, the salary boost will be completely different from one place to the other. For example, the salary increase in Los Angeles is 25%, compared to 6% in Chicago.
Sometimes, the PMP can result in no automatic change in one’s salary, and this usually happens when the person has applied for the PMP on a personal basis (eg. with no help and no knowledge from the company). In such case, the person should formally inform management of the the newly acquired title, and ask for an adequate compensation. Should the company refuse, the person has always the option to move elsewhere where PMP certifications are more appreciated (and that is usually the case in most places): The PMP does not only add a financial perk for the Project Manager, but it also makes the Project Manager a worthy and welcome candidate anywhere.
In short, the PMP is a good investment in your career, and you should really consider it in case you’re looking for a boost in your salary and/or job opportunities.
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