4 Reasons Employers Want You to Have Your PMP® Certification
Over the past few years, you may have noticed more and more job postings for certified project managers popping up. Project management experts are in high demand, because it’s a role that can ensure major projects are executed successfully.
It’s apparent that earning the Project Management Professional (PMP)® certification is beneficial for project managers. Passing the PMP® exam opens new doors in your career and increases your earning potential. Currently, the average base pay for project managers is more than $90,000. In 2016, it was about $87,500. This shows how the demand – and the salary – for project managers is steadily rising.
However, project managers aren’t the only ones who benefit from earning their PMP credential. The companies that employ PMP credential holders reap benefits from their employees earning this credential, too. Let’s look at some of the ways employers benefit when you earn your PMP credential.
It Instills Confidence
First and foremost, your PMP credential signifies to those around you that you have the skills to successfully manage any project. This instills confidence in both the teams you manage and the organizations that hire you. If you have your PMP certification, you are viewed as someone that’s at the top of the project management field.
To pass the PMP certification exam, you need a thorough understanding of A Guide to the Project Management Body of Knowledge (PMBOK® Guide). This has all the Project Management Institute-approved methods you should know for effectively running successful projects. So, once you’ve earned the PMP certification, most employers and clients will assume that you have the PMBOK® Guide strategies down.
In addition to increasing the confidence clients have when you have your PMP credential, your certification also increases the chances of your employer closing sales. Having a PMP certification holder on a project team can be an enticing selling point when pitching to new clients. In fact, it might be the competitive advantage that sets your company apart. When clients hear that a certified project manager will be working on their account, they’ll have confidence that their project will be run with expert hands.
It Earns International Recognition
In addition to the recognition you’ll receive internally from your team, you’ll also increase your credibility abroad, too. The PMP certification is recognized by companies worldwide as the standard for project management leadership.
In 2007, Project Management International earned ISO/IEC (International Organization for Standardization and the International Electrotechnical Commission) 17024 accreditation. The ISO/IEC are the bodies responsible for developing international standards for the information technology and Information and Communications Technology fields. Since that time, the PMP certification program has held credibility in the more than 85 countries that align with ISO/IEC standardization practices.
If your company conducts business with international partners or you have an interest in managing projects abroad, earning your PMP credential can give you legitimacy in ISO/IEC countries. And in the same way that having a certified expert on board is a competitive advantage when pursuing new domestic business prospects, your company will find the same is true when forming business partnerships abroad.
It’s Explicitly Required in Some Sectors
For some client contracts, the PMP certification is more than just a bonus; it’s a requirement. You may encounter situations where you must have the PMP credential to run a project, particularly in the government sector. It’s growing more and more common for certifications to be required for work in the federal, state, and local levels.
A PMP certification requirement is also common in highly regulated industries, like healthcare, pharmaceuticals, defense contracting, financial services, and more. These industries have specific considerations like aligning with government compliance regulations or meeting specific security standards. For companies like these, candidates or subcontractors likely wouldn’t be considered unless they have their PMP credential.
So, if you have interest in pursuing a career in one of these industries, or there’s a chance you may have a client in the future that comes from one of there industries, it’s essential that you have your PMP credential.
It Mitigates Risk
So many companies start projects that inevitably fail. In fact, about 75% of business and IT leaders expect their next software project to fail. Think about all the money and time invested in these projects that is essentially thrown away because the project doesn’t succeed. Plus, even if projects are completed, they often come in over budget or past the scheduled timeline, both of which incur unwanted costs for companies. For most companies, any major project or change, especially ones that are company-wide, comes with huge risks.
This is why project managers who are PMP certification holders are such desirable hires for companies. Project managers who have earned this certification have learned the strategies that lead to project success. Those who pass the PMP certification exam can prove that they have a thorough understanding of how to manage projects, ensuring they’re completed in time and on budget.
Successfully run projects are beneficial for the entire company, and the best way to make sure a project is successful is to hire a PMP certification holder. This mitigates the risk of sinking funds into a failed project.
Earning your PMP credential is a great way to support your employer and increase the value you add to a team. If you're interested in pursuing the PMP certification, now is the perfect time to start preparing to take the exam. You should consider talking to your employer about sponsoring you through the process. The benefits we explored above are why some companies may be willing to provide exam prep training courses or pay for exam fees. The exam is $555 if you are not a PMI member, and $405 if you are a PMI member.
Once you earn your certification, your work isn’t finished. If you want your employer to continue reaping these benefits, you need to maintain your PMP credential. This means you must earn 35 Professional Development Units (PDUs) every three years. If you don’t earn these PDUs, you’ll lose your certification. When you’re diligent about keeping your certification up to date, both you and your employer will benefit for years to come.
Are you ready to earn the PMP certification? Download The Complete PMP Certification Guide now to help you through the process.