April 4, 2020

What is the best PMP Certification salary?

The letters “PMP” stand for Project Management Professional and is a highly respected career designation that the PMI or Project Management Institute certifies.  A PMP ensures that certain standardized techniques or methodologies will be practiced by individuals with this certification and draws a high PMP certification salary.  A certified PMP is a critical component in selecting, developing, executing, and finishing different industry business projects.

Requirements for PMP certification

There are certain prerequisites or requirements involved in becoming a PMP which includes a specified amount of work experience (usually in hours) and an education associated with the position.  All of these elements along with the certification and the state the certification is granted typically determine the PMP certification salary the individual earns.

Although the education and employment criteria will vary from one state to another, a Bachelor’s Degree with two years of experience in the field or 5 years of experience without a Bachelor’s Degree but some education will meet the minimum requirements.

PMP Certification costs

There are several different costs or fees associated with receiving the certificate and earning a decent PMP certification salary.  PMI offers 4 types of testing that lead to PMP certification which includes:

  • CBT or Computer-Based Testing – $405 (PMI members)
  • CBT or Computer-Based Testing – $555 (non-PMI members
  • PBT or Paper-Based Testing – $250 (PMI members)
  • PBT or Paper-Based Testing – $400 (non-PMI members)

PMP membership is not a requirement for receiving the PMP certification and being paid the standard PMP certification salary.  However, it is highly recommended that you eventually become a member.  As you can see from the information listed above, members pay a much lower amount for the testing than non-members.  Not only do they receive a discount on the exam, other benefits are discounted as well.  As of this year (2012), the current costs for receiving a PMI membership are as follows:

  • Individual – $129
  • Student – $30
  • Retiree – $60

There is an additional application fee of $10 required for each membership.

Salary range for PMP certified individuals

The PMP certification salary range is based on the company the individual works for as well as their experience and job function.  The rule of thumb is that an individual will earn the highest based on experience.  Here is a breakdown of the annual PMP certification salary based on years of experience:

  • 1 year or less – $58,000
  • 1 to 4 years – $66,500
  • 5 to 9 years – $82,400
  • 10 to 19 years – $98,400
  • 20 years or more – $108,000

There are also different PMP certification salary ranges based on the type of PMP field the individual is employed in as follows:

  • IT Project Managers – $88,400
  • Construction – $82,500
  • Software Development – $90,000
  • IT Managers – $98,000
  • Senior Business Analysts – $85,000
  • Vice President of Operations – $126,500
  • Director of Information Technology – $120,000

Finally, the size of the company is associated with the size of the annual PMP certification salary as larger companies typically pay more than smaller ones.