Have you been thinking about getting a Project Management Professional (PMP) certification? Most people are surprised to learn of the real value a PMP and that’s perhaps best brought into clear understanding when compared to the MBA (Masters Business Administration).
In 2015 the average total cost of North American programs (MBA) is about $222,000(1). The national average salary for MBA working as marketing directors and chief financial officers was $118,654 and $128,201, respectively(2). Hence with an MBA degree, you can expect to about half per year of what that MBA degree cost you.
Contrasted this with the PMP Certification where the median Project Practitioner salary in the U.S. is $108,000(3). The cost of PMP Certification course here at GuruFace is less than $1,000 hence you can expect to earn 100X more per year than what the PMP cost you.
And though most MBA degree programs are 2 years, there are accelerated MBA degree Programs that enable you to earn and MBA degree in as short as 12 months. Nonetheless this is still an a great deal of time for a busy professional. A typical PMP program leading to certification at GuruFace will take about 2 months time.
Viewing it from a very general ROI (return on investment) perspective, the amount of money and time needed to invest in an MBA compared with what is needed in money and time for a PMP, the difference on your return on investment can be dramatic.
The MBA degree and the PMP certification are different and thus have different goals and requirements. The PMP certification reflects the Project Management Body of Knowledge (PMBOK), and project management skills. Though the PMP is a certificate and not a degree – you can’t go get a PMP certificate by directly taking a test — there are time-in-service requirements as well as education requirements specific to the PMBOK before you can take the certifying exam depending upon your education and experience in the field. If you have approximately two years of education, 7,500 hours of project management experience and 35 hours of education in project management which you can get here at GuruFace, you may take the exam. Alternatively, you can take the exam if you have a four-year degree, 4,500 hours of experience and 35 hours of education in project management, again which you can obtain here at GuruFace.
Certifications like the Project Management Professional (PMP), have become popular because they demonstrate to employers you’re ready to manage their services and other projects in the areas of schedules, costs, performance, quality, risks and procurement with a focus on profitability. Project managers start with a detailed plan, thinking through every aspect of the job. The then implement the plan while controlling the overall effort to get desired results, all while adjusting and navigating through the inevitably roadblocks and snags that come with projects.
Who recognizes the PMP certification? Major companies and government agencies worldwide recognize the PMP certification. Several Fortune 1000 companies demand that all of their employees or subcontractors that are engaged in project management activities should be PMPs. In other words, the PMP certification has become a market differentiator.
- What Is The Average Salary For An MBA Graduate? | Investopedia http://www.investopedia.com/articles/personal-finance/031215/what-average-salary-mba-graduate.asp#ixzz42gqZGXS8