What Is The Salary After PMP Certification?
What Is The Salary After PMP Certification?
Learning Mudra, Category - PMP
Worth of PMP Certification
Project Management Institute (PMI) is the highly reputed and most recognized body in the world in the field of Project Management. PMI provides a certificate in Project Management Professional Training, PMP, which is the gold standard of all certificates in the field of Project Management. This certificate is globally recognized and highly valued in 187 countries in the field of Project Management. Approximately 1 million people appear for the PMP certification exam each year while the reported number of certificates issued every year by PMI is 100,000. The PMP certificate is the assurance to the employers, stakeholders and peers that the person knows what he is doing in Project Management and is proficient and knowledgeable enough to handle any project.
Salary after PMP Certification
According to the research conducted by Project Management Institute, the median salary of a person having the PMI certificate is 25% higher than those who do not have the PMI certificate in United States. A survey was conducted by taking 30,000 Project management officials as the sample size. The research reported that the annual compensation of 71% of the respondents had increased over a period of 12 months after they had acquired the PMP certificate from Project Management Institute. The compensation included bonus, salary and other benefits. Another report indicated that the average annual salary of Project Management Professionals had increased from $97,829 to $111,824 within a year of acquiring the PMP certificate provided by the Project Management Institute. According to the PMI Project Management Survey 7th Edition, a Project Management Professional with a PMP Certificate gets accredited with a scope of earning a six-figure salary in the United States.
PMP is considered the world’s best certification in project management and makes the professional aware of various agile frameworks including Scrum but Scrum Master certification is deeply linked with the Scrum framework and aims to implement the project only within the scope of Scrum framework. PMP training requires an individual to fulfill certain prerequisites to be eligible for the certification but no such criteria exist for Scrum Master certification while this does increase the pool of candidates applying for the exam but it also strengthens the credibility of PMP over Scrum Master as a professional with PMP certification has real world experience to match his knowledge.
Credentials attached to PMP Certification
The PMP certification also opens up new avenues. The PMP certificate is a great addition to the CV of a person and makes him eligible for quicker promotion or greater employment opportunities. According to a research conducted by PMI, 2.2 million new roles are going to be needed to be filled in project management in top companies each year until 2027. In India, the PMP certificate is valued by companies as an indicator of the person’s knowledge and experience in the field of project management. It adds value to their chances of employment and promotion. In fact, many organizations in India are making PMP certification a requisite and a filter criterion for the roles in Project Management.
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The best prospect of having a PMP certificate is that it is not industry specific and is globally recognized so if you want to change sectors, you can do that easily and still maintain your credibility as the PMP certification gives you the framework and standardized practices for managing projects in any industry.
The most popular companies for Project management are Infosys Limited (average salary provided is 797 Thousand to 2 Million Rupees), Accenture (average salary provided is 700 Thousand to 4 Million Rupees), Capgemini (average salary provided is 842 Thousand to 3 Million Rupees), IBM India Private Limited (average salary provided is 538 Thousand to 3 Million Rupees), HCL Technologies Limited (average salary provided is 634 Thousand to 3 Million Rupees)
Average annual salary of PMPs in various job roles
According to the research conducted by Payscale, the average annual salary for a Project management Professional in India with the PMP Certification is 1,724,509 rupees. The average annual salary for various job roles in Project management with the PMP Certification in India is as follows-
|Project Manager(Unspecified/General)||1 Mn|
|Senior Project Manager,IT||2 Mn|
|Project Manager,IT||2 Mn|
|Program Manager,IT||2 Mn|
|Vice President,IT||4 Mn|
|Service Delivery Manager,It||2 Mn|
|Project Manager,Construction||1 Mn|
|Civil Engineer||366 K|
|Deputy General Manager||2 Mn|
|Operations Manager||918 K|
|Technical Project Manager||2 Mn|
|Project Manager, Engineering||1 Mn|
|General Manager||3 Mn|
|Management Consultant||2 Mn|
|Senior Program Manager, IT||3 Mn|
|Director of Operations||3 Mn|
|Sr. Operations Manager||2 Mn|
|Vice President, Operations||4 Mn|
|Project Manager, Software Development||2 Mn|
|IT Consultant||1 Mn|
|Solutions Architect||2 Mn|
|Project Coordinator||354 K|
|Technical Program Manager||2 Mn|
|Technical Delivery Manager||2 Mn|
|Assistant General Manager||2 Mn|
|Project Leader, It||1 Mn|
|Senior Business analyst||983 K|
|Program Manager, Engineering||2 Mn|
|Senior product manager||2 Mn|
|Software development Manager||2 Mn|
|Senior Project Engineer||635 K|
|Chief Technology Officer||4 Mn|
|Chief Information Officer||4 Mn|
|Assistant Project Manager, Construction||590 K|
|Software Engineering manager||3 Mn|
|Product manager, Software||1 Mn|
|Sr Program Manager, Software applications||3 Mn|
|Director of Engineering||4 Mn|
|Chief Operating Officer||4 Mn|
|Senior Project manager, Engineering||2 Mn|
|Team Leader, IT||1 Mn|
|Executive Director||3 Mn|
|Associate Project Manager (General/Unspecified)||1 Mn|
|Associate Vice President for Development||3 Mn|
|Business development Executive||300K|
|Program manager, Computer Software||2 Mn|
|Business Analyst, Finance/Banking||800K|
|Quality Assurance Manager||1 Mn|
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