The importance of PMP is being recognized in virtually any business sector. The top benefit of hiring the PMP certified managers is the on-time completion of the project with remarkable profitability and client satisfaction. The global demand for project managers with Project Management Professional -PMP certification is increasing fast because this qualification adds more values to their skills and competencies. Today, PMP certification has become a necessity for the project managers with dreams of exponential growth because it brightens the prospects of getting a higher salary with better job profile.
Key Factors That Influence Salary Hike After PMP Certification:
When you choose a particular course to upgrade your qualification, you certainly look into the financial gains. Project Management Institute (PMI) conducts surveys in different countries on a regular basis to assess the salary hikes after PMP certification; the documented reports confirm the worth of getting PMP certification. Besides the PMP certification, the top 7 key factors that influence the salary are:
- Position/Role in project management
- Average size of project
- Average project budget
- Average project team’s size
- Type of industry
- Numbers of years experience in project management
- Location of job
Therefore, once you get the opportunity to manage the larger project with bigger project team after having PMP certification, you get more opportunity to grow.
Impact of PMP Certification on Salary:
According to 9th PMI salary survey, a PMP certified project manager gets 20% higher salary in comparison to a non-certified project manager. The survey covered 26,000 project managers in 34 countries including 1,197 professionals from India. If we talk about salary difference in India, a PMP manager can expect Rs. 17 lakh P.A. while non-PMP manager gets only 12 lakh P.A. The significant salary difference is noticed on the basis of gender. Just the 12% female project managers in India get PMP certification. The average pay for male PMP manager varies between 6,59,179 to 21,73,384, whereas, that of female PMP manager varies between 4,60,107 to 17,54,870.
The top job profiles that deliver maximum worth of PMP Certification are IT Project Manager (Rs 793,585 to Rs 2,119,428), IT Senior Project Manager (Rs 1,172,525 to Rs 2,559,417), Software Development Manager (Rs 821,760 to Rs 2,309,586), Project Manager, Program Manager (Rs 491,610 to Rs 2,739,591) and Engineering Operations Manager (Rs 308,613 to Rs 1,618,782 ) etc.
Why You Get Salary Hike After PMP Certification:
A number of survey reports confirm considerable salary hike after PMP certification. Are the reasons for salary hike long-lasting? Will you get long-term benefits after investing for PMP certification? You may have similar questions before deciding to apply for PMP training course; and, you should know the real answers.
Project management in general comprises of five phases:
- Project initiation: The project manager leads the initiation and prepares tasks for any project before the start.
- Planning: The project manager plans for the entire lifecycle with focus on available resources like workforce, equipment etc.
- Executing: The project manager guides the team to accomplish the tasks in the line of pre-defined success parameters.
- Monitoring: The project manager ensures to deliver the projected values by incorporating the required changes in plans and approaches.
- Closing: The project manager ensures successful delivery of the project.
PMP Certification ensures that you know what to do throughout the above five phases; it means; the added qualification of PMP certification helps you perform better. Survey reports predict India as the global leader in hiring PMP-certified professionals in the coming years. PMP certification is difficult to get but the instructor-led training designed with Global Blended Model of Approach (GBMA) makes the task easier.