Is PMP Certification Cost Worth The Investment?
Voted as the highest project management accreditation in North America, PMP Certification is the best bet for professionals. Not just a particular country though, this certification is being embraced by careerists and organizations across the world. In that context, PMP Certification cost queries first appear in the mind. Many aspirants question if the cost is too high or is it a fair investment for them. To clear all their doubts they need to look at the PMP exam and training expenses.
Before that, individuals must go through what PMP Certification has in store for them.
- Project management roles across the world. Ample scope of working abroad.
- An appealing resume to catch the eye of recruiters.
- Access to high-end management job profiles in diverse industries/businesses.
- Abundant knowledge of the secrets to making every project a success.
- Validation of one’s genuine leadership qualities and core values.
- Recognition as an authority in project management.
PMP Employment Hotspots In 2023
Based on the PMI registry’s track of active PMP-certified individuals, the countries rank in this order:
|Country||No. of Certified Individuals|
Three Divisions Of PMP Certification Cost
PMP Certification cost can be subdivided into 3 parts:
Training expense: This ranges between 650 and 3500 US dollars based on geographical location, training medium, and exam preparation time. Here is the analysis of PMP Certification cost variation in different nations. The price range shown here includes self-paced, online, and classroom study expenses.
|Country||PMP Training Cost|
|United States||USD 1,400 - 1,500|
|Brazil||7,573 - 8,114 BRL|
|United Kingdom||1,170 - 1,253 GBP|
|Belgium||1,379 - 1,478 EUR|
|Netherlands||1,379 - 1,478 EUR|
|Germany||1,379 - 1,478 EUR|
|Switzerland||1,367 - 1,465 CHF|
|United Arab Emirates||5,142 - 5,510 AED|
|Qatar||5,097 - 5,462 QAR|
|Canada||1,817 - 1,946 CAD|
|Ireland||1,379 - 1,478 EUR|
|Russia||78,785 - 84,413 RUB|
|France||1,379 - 1,478 EUR|
|Spain||1,379 - 1,478 EUR|
|New Zealand||2,267 - 2,429 NZD|
|Indonesia||2,09,41,620 - 2,24,37,450 IDR|
|Malaysia||6,234 - 6,680 MYR|
|Thailand||51,251 - 54,911 THB|
|Chile||14,71,064 - 15,76,140 CLP|
|Mexico||28,524 - 30,567 MXN|
|Argentina||179,520 - 192,343 ARS|
|Peru||5,449 - 5,839 PEN|
|Morocco||14,365 - 15,395 MAD|
|South Korea||18,41,112 - 19,72,620 KRW|
|Puerto Rico||USD 1,400 - 1,500|
|Costa Rica||9,53,009 - 10,21,081 CRC|
|Ecuador||USD 1,400 - 1,500|
|Uruguay||57,529 - 61,639 UYU|
|Colombia||61,01,956 - 65,37,810 COP|
|Panama||1,400 - 1,500 PAB|
|Venezuela||347,882,699 - 372,731,463 VEF|
|El Salvador||USD 1,400 - 1,500|
|Georgia||3925 - 4206 GEL|
|Hungary||5,55,618 - 5,95,305 HUF|
|Finland||1,379 - 1,478 EUR|
|Poland||6,586 - 7,056 PLN|
|Slovakia||1,379 - 1,478 EUR|
|Austria||1,379 - 1,478 EUR|
|Italy||1,379 - 1,478 EUR|
|Norway||14,148 - 15,158 NOK|
|Sweden||14,537 - 15,575 SEK|
|Denmark||10,272 - 11,005 DKK|
|Latvia||1,379 - 1,478 EUR|
|Czechia||33,815 - 36,231 CZK|
|Ukarine||41,330 - 44,283 UAH|
|Greece||1,379 - 1,478 EUR|
|Romania||6,816 - 7,303 RON|
|Lebanon||21,16,874 - 22,68,079 LBP|
|Croatia||10,369 - 11,110 HRK|
|Saudi Arabia||5,256 - 5,631 SAR|
|Belarus||3,534 - 3,787 BYN|
|Algeria||2,04,968 - 2,19,609 DZD|
|Iran||59,290,000 - 63,525,000 IRR|
|Iraq||20,43,104 - 21,89,040 IQD|
|Israel||4,834 - 5,180 ILS|
|Turkey||24,490 - 26,239 TRY|
|Philippines||78,813 - 84,443 PHP|
|India||1,11,959 - 1,19,957 INR|
|Myanmar||25,91,845 - 27,76,977 MMK|
|Bangladesh||1,31,516 - 1,40,910 BDT|
|Kuwait||431 - 462 KWD|
Exam Expense: PMI, the certification body determines the PMP exam fee which is an important part of the certification expense. The PMP Certification cost is slightly different for PMI members and non-members respectively.
- Non-member - Without possessing PMI membership one can appear at the exam where one will be paying USD 555.
- Member- PMI members should make a payment of USD 405 to sit for the PMP Certification Exam.
- PMI members - They are required to pay a certification renewal fee of USD 60.
- Non-members - Candidates not possessing PMI membership must shell out USD 150.
- Quality assurance manager
- Application development manager
- Transit director
- Operations manager
- Technical account representative
Certification Expense:Besides, the validity of PMP Certification ends in a span of 3 years. To keep the certification active one must pay a fee within the expiry period. Even if a candidate pays a month before the expiry date the validity period will start from this date, only.
To Ignore PMP Certification Means To Refuse A 23% Salary Increase!
The 10th edition of PMI’s salary survey results is pleasing enough to make one decide on pursuing a PMP Certification. This survey included 37 countries and 33, 000 active certification holders from there. They reported a salary hike of 23%, which outweighs the expenses involved in attaining and maintaining this certification. According to Forbes’ survey, PMP Certification’s worth is jumping by 18.6% each year.
Is there any further reason to obtain PMP Certification and overlook the PMP Certification Cost?
Professional integrity: Of course, there is. One can become a part of the 1 million trendsetters exhibiting the PMP Certification to date. Besides, it would make one’s resume more appealing and strike the eye of the recruiters. This is the foremost qualification for a project management consultant that makes him reliable to clients as a third-party vendor. A PMP Certification is PMI’s authorization to include it in one’s name, specially printed in visiting cards.
Being listened to: The weight of a certified individual’s words is a thousand times greater than that of a non-certified individual. Seeing is believing. Team members or employees in an organization see the letters ‘PMP’ beside an individual’s name. They become more confident about that professional’s knowledge and naturally follow or respect every suggestion of his.
Desired Designations: For many project management roles, PMP Certification is an additional qualification. Certain roles make it necessary for job seekers to hold this accreditation to stay ahead of others. Topping the professional skills list, PMP Certification measures the eligibility of the following prestigious job profiles:
Self-assessment: The complexity level of the PMP exam is worth the investment one makes in achieving this certification. Those who manage to score high are genuinely talented and this certification is most apt for expressing it. Not only does the world, but one becomes more confident about one’s professional growth and knowledge.
Never-ending knowledge: PMP Certification has takeaways for individuals belonging to different work experience groups. Say, one has spent 30 years in the project management domain while another is only 5 years old in this field. The knowledge accumulated through PMP Training always has something new since it updates with the evolving industry practices.
Stepping stone: To feel that one is capable of achieving professional heights is received through the PMP Certification journey. It increases one’s appetite to strive for even higher accreditations relevant to one’s industry. Project management forms the basis of any occupation and those who master it are at the top of their craft. They can foray into any industry they desire to work in.
Wouldn’t it be unwise to miss all these benefits? Counted together, they only make the PMP Certification cost cheaper in its true sense. Hopefully, the expenses discussed here will make it easier for individuals to plan their certification. This once-in-a-lifetime investment will make one proud of one’s decision in the years to come.