PMI's Project Management Professional (PMP) Certification

Brian,

The PMP certification is certainly valuable if you are exploring new career opportunities. Many hiring managers and HR departments won't even consider you for a project management position unless you are PMP certified. This is particularly true in the pharma, IT, and construction industries right now.

But I don't think you should count on any of the other benefits you mention. None of my colleagues have received raises from their existing employers as a result. And I have not heard of many people negotiating better packages during the interview process for a new job because they have the certification.

So I think it's all about being considered for new opportunities, as opposed to making more money.

Actually, I saw a survey from Payscale a few years back that suggests PMP certificate holders earn significantly higher salaries than their counterparts. It depends on you location but in some areas employees with PMP certs earn 25%++ than employees in similar roles without the certificate. In fact, in your area, Texas, certified Project Management Professionals earn 29% more. How much of this variance can be ascribed to the PMP certificate itself is debatable, but it doesn't seem to hurt.

Even assuming all other things equal, and that if indeed PMP holders earn more than their non-certified counterparts, this does not imply that the certification indeed caused the pay rise. Improved project judgment leading to better outcomes probably leads to better performance reviews, and possibly higher pay. I would assert that this professional judgment is boldered from, among other things, preparing for the PMP exam.

PMP is kinda like asparagus ... you either love it or hate it. There's no in between. Smart employers recognize it as an entry level certification. I would seriously question the wisdom of any organization that paid more for a person with a PMP simply because they had their PMP. Why would you pay more for someone who could have scored as low as 61% and missed every question on risk management?

The foremost, and most ignored, benefit from PMP is that it gives structure to your existing PM knowledge and fills in the blanks.
Getting an increment becuase you got PMP is not a great thought - most likely you won't get it, and doesn't make any sense either.
And yes, its an asset while sitting across the table for interview - not for negotiations but for getting the job!