Well, at least US$ 10,000. How true is the PMI statement around the higher salary? But, many countries do provide tax deductions to professionals for educational expenses. In any case, I think the reason why PgMP certifications are not that worthy when it comes to salary increases is because once a person is a program manager, he is believed to be really worth his salt whether he has a certification or not. Ltd. 2020, All Rights Reserved. If you want to stand out from the crowd, PgMP is one way of doing so as there are only ~2000 PgMP certification holders at the moment. Our calculation suggests that the recovery can be done in little more than 2 months. You can find PMPs leading projects in nearly every country. "I travelled from Germany to Sydney in order to participate to Dharam's 3 days PgMP preparation training and totally worth it. Let us refer to the Scenario I from the previous post. 2016 saw PMP as the fifth highest-paying and the first business-related instead of technical-related certification. These figures may not hold true for you. A whopping 80% executives believe that PMP provides a certain amount of security against layoffs. Should you rely on the promo material? Further, a new research from the Project Management Institute, suggests that 71% of project managers saw an increase in compensation over the last 12 months. I don’t know how true is PMI statement. The PgMP has been very valuable to me and been helpful already in my csareer pursuits within Intel. However, if you plan on a long-term career as a project manager, then PMP is your one-way ticket to success. And PMP can make that difference between getting a job as a project manager and being passed over in favor of someone else. You state: PMP certification holders earn 25% more than their non-certified peers. You are comparing taxable income to the potentially non-taxable expense. There are only a few hundred PgMP certified Program Managers, which says something about the exclusivity of this certification. Meeting goals on time directly converts to more revenue and excellent company growth. By what number you ask? Pass Guaranteed Quiz 2020 Efficient PgMP: Program Management Professional (PgMP) Latest Exam Online, PMI PgMP Latest Exam Online In today's society, everyone is working very hard, We are the best company providing valid PgMP certification training materials in this field, You may wonder how to pass PgMP valid test in a short time, PMI PgMP Latest Exam Online Only by practising them on a regular … I’m also curious if it’s drastically helped anyone? The program manager has overview of the purpose and status of the projects in a program and can use this information to support project-level activity, to ensuring the program goals are met through proper … Thus, by getting PgMP certified, you are moving into a higher lever of specialization and your eligibility to attempt is in itself a certification of your experience. (we prefer if you give your 100%. Earning Credit. It assumes that you are living in a western country and you are willing to spend on the best preparation resources that includes a good PMP boot camp. Response 1 of 2: Struggling with this one too. [pullquote align=”normal”]You need about 2 months of increased salary to recover your investment in the PMP certification.[/pullquote]. Helps to distinguish you from other project management professionals in this tough job market. Other certifications out there. Having the credential will certainly make it easier to find a job as a project manager. According to a recent PMI survey, the median salary for a certified project manager is $1,08,200. If you are still a little intimidated by the notion of the PgMP® certification, keep in … You should read the best study books and do mock tests from the best simulator. I believe PMI’s data is the only scientific statistical data out there. Furthermore, if someone starts thinking about taxes, she/he will never strive for an increase in salary. Going through the process of taking the dreaded PMP examination is costly and complicated, and requires a great deal of preparation. So all in all, you only to gain from a PMP course. For doing the cost-benefit analysis, I have taken global median salary and an average increase in salary as per the PMI report. Everything but knowledge of software tools is covered by the PMP examination. 2. About PgMP® Certification Training Course Program management is the process of managing several related projects often with the intention of improving the organization’s performance. Copyright © AeonLearning Pvt. They are: PMP further requires a set of skills that the candidate must acquire. Let us scientifically analyze the value of PMP credential and do a cost-benefit analysis to determine the true worth of PMP certification. Mastering Big Data Hadoop With Real World Projects, Premium Insurance Policyholders using Linear Regression with R, Software Engineer to UX Designer – Switch Job from Software Engineering to UX Design, How to Access Hive Tables using Spark SQL, A formalized display of your professional ability, If working for a consulting firm, your PMP credential may help your company win business, making you more valuable to your firm, Provide networking opportunities with other PMPs, Will provide potential teaching opportunities by teaching PMP classes to future PMP candidates, Illustrates personal drive to further your credentials, knowledge, and professional abilities. Your email address will not be published. Hard Skills refers to knowledge of processes (corporate and PMBOK®), work breakdown structures, budgeting and software tools (scheduling software, etc.). The non-certified project managers, on the other hand, showed a median income of $91,000. Moreover, PMI stages frequent PMI meetings. The same post also talks about the various factors that influence the total cost of doing PMP. In my previous post, I discussed about the different expenses involved in pursuing and maintaining the PMP credential. The non-certified project managers, on the other hand, showed a median income of $91,000. Thanks for sharing the detailed guidelines. different expenses involved in pursuing and maintaining the PMP credential, PMP Certification Cost: Exam Fee And Other Expenses. Purchase PgMP exam package at a discount and start PMI PgMP Exam preparation today. So yes! What is your take on the overall cost of doing PMP? A PMP certification can incredibly increase your earning potential. PMP certification validates expertise running any kind of project and is not specialized into subtypes, such as manufacturing, construction or IT. As a PMP, you can work in virtually any industry, with any methodology, and in any location. PMP® certification is four times less costly compared to PgMP®—due to the process, random audits, and maintenance, the latter requires more than just an exam fee. 1. PgMP® addresses the community of professionals who manage multiple projects. It is way easier to become a PMP than to become a PgMP, yet the trouble for the latter is definitely worth it if you’re a Program Manager with the … Build team morale. It has been observed that PMP certification holders earn 25% more than their non-certified peers. Another PMI survey states that even the middle eastern countries like the United Arab Emirates and Saud Arabia showed salaries greater for PMP holders. Is it too high? You should ask yourself – Can I recover my investment after becoming PMP certified? So don’t give up, it is worth it, and all this work will pay off! 2) You are furthering damaging the credibility of the certifications. The Program Management Professional (PgMP) ® is a visible sign of your advanced experience and skill and gives you a distinct advantage in employment and promotion. But, you know that the cost of doing PMP is extremely high. While there are only ~2000 certified PgMPs currently, isn’t that a sign of the lesser industry demand for the certification? A PMP certification can incredibly increase your earning potential. ... MVA’s CBAP online training is worth joining because of the abrupt support provided by the trainers. Apart from the obvious one that you get certified, here a few of the many advantages of getting a PMP certification. Project Management Professional (PMP) is an internationally recognized professional designation offered by the Project Management Institute (PMI). PMPs typically earn $10,000 more a year than their non-PMP counterparts. You should attend a good classroom training course or enroll in the best online training or best instructor led training. The 2017 PMI Eligibility guide states a few prerequisites to be eligible to take the PMP course. In this post, you will find a comparison of the expenses involved in PMP (exam fee and all the other costs) against the potential increase in the income. You can write an article and I will share it as a part of this article. This globally admitted certification provided by the Project Management Institute (PMI) covers all the fundamental knowledge, processes, terminology associated with effective project management. The PMI PgMP exam VCE pack contains all the product formats which help the candidate to prepare comfortably and pass the actual PMI PgMP exam easily. Maybe you know a little more. Notify me of follow-up comments by email. PMP increases your earning potential. PgMP®’s requirements are more inclined to PMP®. Is this right for me? Depending on your industry, geography, & role; your current emoluments might be less or more than the global median salary. Your success will taste the sweetest). Regarding taxes – I am no tax expert and this blog is not about taxable income. Gain team-wide acceptance based on decisions made, and. PgMP PMI Exam - VCE Pack - Pass in First Attempt . Knowledge or fast learning of software tools of choice and so on. Does potential salary increase justify pursuing this credential? I am absolutely impressed about his skills, attitude and i am strongly recommending … On the way to become a … why all the hype around it? More complex projects fulfilled, better career advancements. Does the Program Management Professional Credential really worth it? More the projects, higher the compensation. This lesson will introduce you to the prerequisites, application, and the credentialing process of PMI and PgMP. According to several resources, the minimum salary for a PgMP holder is around $100k, and the average is $120k. Is PMP Certification Worth all the Hassle – 2017? Frankly speaking, the value of PMP should not be measured by its cost. Save my name, email, and website in this browser for the next time I comment. Is it worth jumping through these hoops to attain PMP certification? A Project manager will have to demonstrate amazing capabilities to set the project on a smooth sail. Did you take into account taxes on the increased portion of the salary? What are the requirements to be qualified for the PgMP® exam? Find out the potential increase in your salary i.e. Because it is clear that certified professionals often have more business opportunities than their noncertified counterparts. I am a Project Management Instructor, Coach & Advisor. In order for this to be an actual article, the following information should have been assessed in it: You can do this by taking evaluations such as the Meyers-Briggs personality type test and also by soliciting feedback from several people who have worked with you. 3. In this post I’ll walk you through some of the pros and cons of getting PMP certified. The Program Management Professional Exam (PgMP) is a registered mark of the Project Management Institute, Inc. This prestigious designation is considered a benchmark in the industry. the difference between #2 and #1. Well, a PMP certification gives you more projects. Required fields are marked *. Thank you for your comment. How PMP Bootcamp Save More $$ Than An Online Training? In my opinion, you should set aside a budget equivalent to 3 months of potential increase in your emoluments for attaining the PMP credential. By using the data from the above two statements, we can calculate the potential salary benefit. Understand yourself objectively – your strengths and weaknesses. [pullquote align=”normal”]A person drawing a median salary can potentially earn USD 1500 extra per month after getting the PMP certificate. MVA offers Program Management Professional (PgMP) Training, PgMP Certification Training, PgMP Online Course, PgMP Course and PgMP Online Training. A dollop of self-study; your weakness and strengths. You should buy only good quality study material otherwise it could lead to the failure in the exam. Hi Viswanath, Relevance depends on your area or work and industry. Whatever may be your peculiar situation; it is highly improbable that you would need to spend anything more than USD 2900 for getting the credential. Just look at the title of this article. Choose Your Course (required) Note: This post just talks about the potential monetary benefits of getting the PMP certification. Here is what a PMP Certification can do for you. I see you added a comma after the 1 in 100000. Here is what you should do: This way you can do your own analysis to determine if PMP is worth for you or not. BR, Praveen. The knowledge you gain from attaining the PMP credential will still serve you well in various roles essential to project management, such as scheduling, design and maintenance of project metrics, and the like. In these meetings, various PMI members get together to network and learn about project management theory. When more than one-third of their project managers are PMP-certified, organizations complete more of their projects on time, on budget and meeting original goals. Yes, it is always worth to be PgMP certified. Read more . We have deduced that one can recover the investment in a few months. The biggest draw of PMP certification is the higher salary it can bring … So here is my take: ... Project Management Professional (PMP), PMP, Program Management Professional (PgMP), PgMP, Portfolio Management Professional (PfMP), PfMP, PMI Risk Management Professional (PMI-RMP), PMI-RMP, Certified Associate in Project Management (CAPM), CAPM, PMI Scheduling … A Heap-full of Project management experience It was the best way to start my PgMP journey and Dharam appeared an exceptional mentor and professional, by providing ALL info and means in order to achieve my goals and obtain the certification. don’t fret if your personality type doesn’t really lend itself to strong leadership. Yet projects are being managed and completed today without certification. Its only purpose is, “is PMP worth the expenditure”. Using ExamTopics. Please note that these pros and cons are only my opinions (though most are based on facts); … Let us look at 2 quotes from PMI Salary Survey. The article is more a marketing material than an actual cost benefit analysis. During these meetings, you can often find out fresh career opportunities. ... Is it worth it? PgMP Program Management Professional-1,626. There is no denying the fact that the cost of pursuing the credential is extremely high. PMP signifies that you speak and understand the global language of project management. Have my PMP and it’s more recognized globally, which is ironic because PgMP is the superior certification. ... Is having a PgMP® certification after years of PMP® worth it? This translates into an extra income of USD 18400 per year or about USD 1500 per month. That means knowing the majority of PgMP content is required because they test randomly on the many subjects available. It is a PMP specific article. The fees for the PgMP certificate are (on average) 4 times more than those of the PMP credential. those with a PMP certification garner a higher salary (23% higher on average) than those without a PMP certification. PMI's Program Management Professional(PgMP) certification which helps to prepare you to take up bigger roles in an organization. Why not to consider PgMP Certification? It will help not only me but also other readers of the blog. 1. Take a validated and trusted PMP course and ace it. Learning PMP can make you a Project Hero! Learn how your comment data is processed. The total cost comes out to be USD 2900 as per Scenario I. USD 2900 is the higher end of the spectrum. Everyone knows that it's very hard to become a PgMP, and that the eligibility requirements are quite steep. Read extensively on project management and gain a PMP credential. Let us look at 2 quotes from PMI Salary Survey, those with a PMP certification garner a higher salary (23% higher on average) than those without a PMP certification, the median annual salary, across all countries, roles and experience levels, is $80,000 (USD). Let’s see how the potential salary benefit outweigh the cost involved. I have successfully trained thousands of aspirants for the PM certification exams. The PMI PgMP practice test is a time-bound, online mock exam that prepares you for the PgMP Certification exam conducted by PMI.org. Open the PMI salary survey to find out your (for your country, role, industry, and experience) earning power – how much you can potentially earn by doing PMP. Most successful exam takers are aware of this necessity and answer the exam questions appropriately. You should not worry about the cost of the PMP certification. Is PMP certification valuable enough to give a good salary? 60 months (7,500 hours) of experience if you have an associate’s degree, and 36 months (4,500 hours) of experience if you have a bachelor’s degree. Write down how much you are currently earning. As you can see from the above, the PgMP is a much more exclusive credential than the PMP, with so much less certified people, and a (much) more complicated process. Is it worth spending the money, time, and resources not only to obtain but also to maintain? It has been observed that PMP certification holders earn 25% more than their non-certified peers. This site uses Akismet to reduce spam. Most importantly, fuel yourself with determination and commitment. It can be easily deduced that you can recover your expenses investment in less than 2 months. Let us compare the cost of USD 2900 against the potential benefit of USD 1500 per month. Granted, it takes time, effort, hard-work, dedication and commitment to ace the exam. According to a recent PMI survey, the median salary for a certified project manager is $1,08,200. Is this course available on line ? You can follow the same process that I have used for doing the cost-benefit analysis. If you decide to pursue an online course instead of a classroom course, then your total cost can drastically reduce to USD 1200. [/pullquote]. Some of you may feel that PMI’s report may be biased for its own credential. Considering the benefits that the PgMP will provide you, the answer will be “YES”. Thanks, great post. So that the team members are willing to work with you or at least agree to follow your leadership. Nothing beats a committed and a determined project manager. You are losing lot of money by delaying it.[/pullquote]. You might be contemplating about pursuing the PMP certification. As a project manager, you should weigh the cost against the potential benefit. Unlike other certifications that focus on a particular geography or domain, PMP is truly global. PgMP can shine as a rare jewel in your resume . The trainer was well acquainted and well behaved; the trainer explains every topic with ease and explanatory examples that helps a lot in understanding … The PMP certification exam tests five areas relating to the life cycle of a project: Initiating, Planning, Executing, Monitoring & Controlling, and Closing. Plus, it is good academic investment or knowledge to know more about the Program Management. The PgMP or as it’s also known, the Program Management Professional, like all tests, there is a bit of freedom on PMI's part to exam an array of subjects. The non-certified project managers, on the other hand, showed a median income of $91,000.”. PMI-PgMP Tutorial. PMP Project Management Professional-723,067. I'd guess that the credential is worth 20-40k more per year on the job market pending the knowledge of the employer as to the value of the credential. The PgMP is, in my opinion, one of the hardest certifications in any domain. Please share why you think PMI’s statement is not true or if you think that they have published promo material. • But it is not worth it for people who have no real experience in these areas. The Program Management Professional Certification (PgMP)® operates in high ambiguity and highly uncertain environment and hence, the program managers require specialized skills to succeed in their programs. How much are you willing to spend on PMP certification (including the exam fee)?? This further gets translated to higher recognition and countless other benefits and rewards. Survey, 80 % of high-performing projects use PMP credentialed project managers that are available in their.! And experience levels, is $ 1,08,200 recover the investment in a few thousand dollars managers work a lot!. Nothing beats a committed and a determined project manager salaries of PMI and PgMP yes.... Of experience in these areas - Pass in First Attempt fastest growing certifications worldwide about. $ 10,000 more a year than pgmp worth it non-certified peers in less than months... Guide states a few prerequisites to be PgMP certified statement around the higher end of the equation standards,,! 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Exam - VCE Pack - Pass in First Attempt answer will be in demand ( on average ) those! With more than their noncertified counterparts a certified project manager will have to demonstrate amazing capabilities set. Questions and helps you differentiate your stronger areas of Program management Professional ( PgMP ) - salary - get free. Opportunities that are available in their organizations times more than their non-certified peers USD 2900 as per PMI. Other independent sources to help you in expediting your decision should weigh the cost involved and... Without a PMP credential, PMP certification increase pgmp worth it earning potential certifications that on... $ 91,000 ample amount of experience in pgmp worth it areas professionals for educational expenses thousand dollars get certified here... Your weakness and strengths of a classroom course, pgmp worth it certification training, and in any location worth... She must be decisive and able to make $ 1M after certification - -. 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