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Project Management Certification – The Salary, Cost And How To Get It In 2022

Project Management Certification - The Salary, Cost And How To Get It
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Are you searching online for information regarding Project Management Certification? You’re at the right place. This article features the salary, cost and how to be certified as a project manager. Read on!

Project Management Professional (abbreviated as PMP) is a well-known international professional designation offered by the Project Management Institute (PMI). As of 31st of July, 2020, there are over 1 million active PMP certified persons and over 300 chartered chapters across 214 countries and territories in the world.

The Project Management Institute (PMI) awards PMP certification to successful candidates who pass the PMP Examinations.

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PMP indicates the documented experience, education, competency and skill required to execute and lead projects. It is one of the most reputable certifications offered by the Project Management Institute (PMI), in the United States.

Just as Certified Public Accountant (CPA) validates your expertise in accountancy, PMP Certification also validates your ability to manage projects and acknowledges the hard work you’ve done so far. The PMP Certification is valid for 3 years.

The Project Management Institute (PMI) is a non-profit organization, which was established in 1969. Its members are ceaselessly supported by networking, education and thorough project management standards. They also provides a common platform to exchange and communicate their views.

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The Project Management Institute issued its first member certificate in 1984 in Philadelphia, United States. Since then, the community of certified PMPs has been increasing at a steady pace.

PMP is without doubt the most coveted project manager certification on earth. PMI has been providing value to around 3,000,000 professionals cutting across continents, with its standards, credentials and guides. Moreover, PMP certification has become a compulsory requirements for most jobs worldwide.

After obtaining a PMP certification, professionals are given the opportunity to maintain the certificate through a process known as the Continuing Certification Requirements (CCR) program.

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Project Management Certification Salary

Professionals with Project Management Certification get an average of 20% salary higher than the non PMP certified professionals. The average salary for a Certified Project Manager is approximately US$112,000.

Cost Of PMP Certification

The cost for computer-based Testing (CBT), PMP exam price are as follows:

  • For PMI members: $405
  • For Non-PMI members: $555

Cost of Re-examination

  • For PMI members: $275
  • For non-PMI members: $375

An individual choosing to become a PMI member, at the time of application will be required to pay a PMP fee of $555. This fee will cover both the cost of membership and examination.

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Interestingly, even if an individual doesn’t wish to become a PMI member, such person will anyway have to pay the same PMP exam fee.

However, it is advisable that you apply for the PMI-Membership option so that paying your Project Management Professional (PMP) course fee will be more practical.

How To Get Project Management Certification (PMP Certificate)

Becoming a certified Project Management Professional is a commitment, and that’s why it is valuable. Before you apply, ensure that you meet the following requirements set by the PMP Certification team:

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  • A 4-year degree
  • 36 months leading projects
  • 35 hours of project management education/training or Capital Asset Pricing Model (CAPM) Certification

OR

  • An associate’s degree or a high-school diploma
  • 60 months leading projects
  • 35 hours of project management education/training or Capital Asset Pricing Model (CAPM) Certification

Follow the steps below to get your PMP Certification:

Step One: Confirm Your Eligibility

Step Two: Gather Your Information

Document your training and experience by gathering information about:

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Training You’ve Completed

  • Institutions attended
  • Courses completed
  • Qualifying hours

Projects You’ve Led

  • Where you’ve worked
  • Your role and responsibilities
  • Duration of projects

Step Three: Log on to the application portal to get started.

You’ll need an account with the PMI to kick the process off.

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Your application will then be reviewed by the application team, then you’ll be required to pay an examination fee if you’re qualified to move forward.

  • Member Price: US$405
  • Non Member Price: US$555

Upon the approval of your application, you can then take the Project Management Professional Examination, you can take your examination online or schedule a time at a testing site near you.

The Project Management Certification (PMP Certificate) Exam

The Project Management Professional exam is one of eight credentials offered by the Project Management Institute and is based on the Institution’s Project Management Body of Knowledge. Most of the questions asked is in reference to the PMI Guide Project Management Body of Knowledge (also known as, the PMBOK Guide).

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The first edition of the Project Management Institute’s standard for project management or the PMBOK was released in 1996 and is now on the 6th edition.

It is important to note that, updating of the PMBOK guide happens every 4-5 years. The updating process is executed by a highly competent team of practitioners, along with the members of the American National Standards Institute (ANSI).

Examination Process

The global network of Pearson VUE testing centers provides the Project Management Professional Examination as a computer-based test (CBT). They also offer a paper based option for some locations.

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The PMP examination consists of 180 questions. 5 of the items are pre-released, although, they are not included in the examination scoring. Prometric calculates the exam score based on the other 175 questions. Every multiple choice item has 1 correct answer and 3 incorrect answers (i.e, 4 options).

Candidates who take the CBT receive their results immediately upon completion. The Project Management Institute also evaluates proficiency levels in each project management process group in four levels.

The level of evaluation are as follows: Above Target, Target, Below Target, and Needs Improvement. Results are provided by PMI Examiners to the candidate on a score report after the examination. Candidates who take paper based tests gets their score reports and tests results typically within 4 weeks.

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Final Words On Getting Project Management Certification

The Project Management Professional Certification gives an unprejudiced endorsement of your project management professional experience and knowledge at a global level. This to a great extent increases your credibility and reputation and validates your ability to manage projects of quality effectively.

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