Top Advantages & Disadvantages of PMP [2024]

There are a couple of questions that come to the mind when you are thinking of going for PMP (Project Management Professional) certification:

• What are the advantages of PMP certification?
• Do benefits of PMP certification outweigh its disadvantages and drawbacks?

There are many PMP certification benefits but the main reasons for pursuing PMP credential are career growth and salary increase.

Project managers with PMP certification are entrusted with higher position, bigger responsibilities, and challenging projects. As per PMI (Project Management Institute) salary survey, on an average, PMP holders get 16 % higher salary than non certified project managers.

PMP is a tough exam. While studying for the PMP certification exam, you will enhance your knowledge and skills. This will give you an edge over the others. It will help you in getting a better job and higher earning.

Let us look at various advantages and disadvantages of the PMP certification in detail.

Advantages and Benefits of PMP Certification

There are many advantages of the PMP certification. It is a globally recognized project management certification that is valued in most large industries.

Not only does this help you on a professional level, but it works in favor of the company that you’re working with as well. PMP certification improves your effectiveness and efficiency as a project manager, which increases your productivity, this further leads to an overall improvement in the revenues of the organization.

Let’s look at some of the top benefits of PMP credential and understand why it is a good career choice.

1. Higher Salary

Project managers, on an average, earn a much higher than the other professionals. According to Glassdoor:

The average salary for Project Manager is $95,250 per year in the New York, NY. The average additional cash compensation for a Project Manager in the New York, NY is $8,096.

PMP certification provides an additional advantage to project managers. As stated above,  according to Earning Power Salary Survey, PMP certification holders earn up to 16 percent higher salary than those without PMP certification.

The PMP certification not only boosts your career, but it also increases your salary significantly. Most big corporate specifically look for the certification while hiring a project manager.

2. High Demand for Certified Project Managers

There is a high demand for the PMP certified project managers across the Globe. PM skills and knowledge is needed in all kind of industries.

Recruiters specifically ask for PMP certification in the job opening. A PMP certified project manager is considered to be more committed and responsible towards the profession than a non certified project manager. PMP is one of the top eight certifications that actually impresses recruiters.

3. Enhancement of Project Management Skill and Knowledge

PMP exam requires long hours of study. You need 2-3 months of regular study to prepare for and pass the PMP certification exam.

The PMP exam preparation includes undergoing 35 hours of formal project management education and studying PMBOK Guide (A Guide to Project Management Body of Knowledge) and Agile Practice Guide.

PMBOK Guide and Agile Practice Guide contain fundamental concepts, tools & techniques and best practices related to project management. You can download these Guides free of cost by becoming a PMI member.

While studying for the exam, you will acquire new project management skills and knowledge. These skills will help you in your future projects.

4. Increases your Marketability

This certification improves your marketability. A certified PMP can easily land up a new job. PMP credential can help you applying for senior management positions that entail higher responsibilities.

There are certain minimum requirements to become PMP. Due to these requirements, only knowledgeable and experienced people can apply for the PMP credential exam.

After getting certified, it becomes evident that you have good experience of managing projects and you can handle the large & complex projects. Employers consider certified professionals to be more knowledgeable and skillful than non-credentialed project managers.

Furthermore, the certification gives you additional leverage to come in contact with senior people in your industry and impress them with your knowledge.

Note: You can pursue CAPM (Certified Associate in Project Management) credential if you do not satisfy PMP eligibility requirements.

5. More Opportunities

This certification acts as evidence that you have a good experience, knowledge, and education. This leads to an increase in number of job opportunities for you.

PMI’s job and talent gap survey suggests that the project management-oriented labor force in seven project-oriented sectors is expected to grow by 33 percent, or nearly 22 million new jobs.

There is a huge gap between demand and supply. Currently, there are only about 1 million certified professionals in the world.

6. Higher Chances of Project Success

Certifications doesn’t only help individuals but it is advantageous for organizations also. It increases the chances of project success i.e. completing the projects within prescribed time and budget.

According to Pulse of the Profession study:

The projects of high-performing organizations successfully meet goals two–and–a–half times more often, and these organizations waste 13 times less money than their low-performing counterparts.

high-performing organizations do differently—and how they are creating competitive advantage by embedding a project management mindset in their organization’s culture. These organizations have adopted global standards. They understand the importance of a highly trained, professionally certified workforce.

According to wrike.com, 80% of “high-performing” projects are led by a certified project manager.

7. Networking

The PMP certification gives you a chance to get in contact with other certified professionals in the World. It gives you a platform to showcase your knowledge to your peers.

As I wrote above, there are there are currently 1 million certified PMPs in the World. Furthermore, there are 650,000+ PMI members in 300+ PMI chapters across 213 countries. All these fellows become part of your professional network.

These numbers keep on growing every year. You can get in touch with these people through various conferences, forums, and chapters. You can talk to them about possible job and career growth opportunities.

You can use the chapter meetings and PMI conferences for earning Professional Development Units (PDUs), which are needed for renewing the credential every three years. Additionally, by regular networking, you can keep abreast with the latest trends in the project management world.

These networking opportunities can also help you to move to a different geography or different industry. It’s much easier to find a job in a different geography or industry if you already know someone in your target location and industry.

Disadvantages and Drawbacks of PMP Certification

In spite of having so many advantages, there are some disadvantages too. As the coin has two different sides the bright one we have already seen. Now let’s look at the downside of getting PMP certification.

1. Needs Huge Investment

One of the major concerns for the aspirant is time and money. PMP exam is not a cheap exam. You have to spend a good amount of money to take the exam. It costs $555 for the PMP exam. After taking the PMI Membership it reduces the cost to $405-$450 but you have to pay a membership fee of $129.

In addition, you will have to spend money for mandatory 35 hours of project management training. A good online PMP training course can cost up to $300.

Overall, you could end up spending about $1000 for attaining PMP certification.

2. Requires Immense Preparation Time

Another drawback is that your time. PMP exam requires you to invest a good amount of time for the preparations. As it is a tough exam you need to prepare well to crack the exam. It can be hard to take out time for your preparation from your busy schedule.

3. Certification is not Perpetual

You need to maintain your certification to keep it in an active state. For maintaining your certification you need 60 PDU’s to be earned within 3 years. This process continues if you want to keep your certification in an active state. There are many ways to earn these PDUs. Choose your way to earn PDU’s and maintain your certification.

4. Only for Project Managers

You need to have minimum 36 months of project management experience to apply for PMP certification. So, this credential will not help you in getting a project management job. It can only help you in enhancing your existing project management career.

Conclusion

Some people might be thinking that getting a PMP certificate is costly and time-consuming. But the time and money that you have to spend on your certification are worth all the efforts.

A project manager has a crucial role for launching new products in the market. If you enroll into a good PMP course and prepare seriously for the exam then nothing will stop you from becomeing a project manager that every corporate looks for.