Cost of a PMP and is it worth it?

[MrsSpendyPants]

Non engineer Project Manager here making 100k before commissions. With commission I was making 200k but commission was recently eliminated by my company (I'm in the oil and gas sector, land department, so my easy transitions would be utilities and renewable energy). I am not an engineer so having trouble finding work that pays 150k+ that is not strictly sales. Considering getting my PMP in 2021 but had a few questions. My work will not pay for it so really need to make sure it's worth the price.

1. Can anyone provide their salary experience before and after obtaining a PMP? Specifically if you were not an engineer.
2. I don't have the 35 hours of project management classroom training needed. I am thinking the most efficient way to obtain that would be to pay the $400 annual fee to coursera and take courses on there?
3. Is it worth spending the several thousand dollars to take the test prep classes? I have a full time job and a toddler so don't have endless time to study but am a good test taker.
4. What do you spend annually on average to keep up with the continuing education credits and to maintain the PMP?

Thank you!

[mspym]

OK, I am on my 3rd renewal cycle of my PMP. A good in-person class is definitely worth it - PMI structure things in a way that is based on ideal world not real world project management, there is a lot of material to get through, and a good trainer's job is to get you to pass the exam.

I can't say whether it was key in me getting a higher pay rise with the exception of one job where being credentialled helped but that jumped me from 95k to 125k and that job got me I to that salary band and then just continued.

I have only spent a chunk of money once on training and that was $500 for a 2-day course that I could claim back on my taxes. Mostly, there is a LOT of free articles and podcasts available, most of them linked on the PMI site, and I have got points for ongoing training from industry expert talks, reading leadership and strategy books I got from the library, time spent learning salesforce because we were considering using it. I wouldn't fret the training time. Just record it and remember to log it.

[Gone_Hiking]

Like @mspym I'm on a third cycle of renewal.  From your post, it seems to me that you were getting a lot of commission and are excellent in sales.  PMP might not bump your pay much.  However, I believe it helps to maintain employability for project managers and that might be useful in era of unstable employment.  My earnings varied between $70K and $130K for the last several years.  Sometimes up, sometimes down.  But... I lost a job twice during the last three years and both times I found another position.  PMP was part of he package that made getting another job possible.   With this, if  you are looking for more money, PMP might not be your ticket.  But if you are looking to be employable through ups and downs of economy, PMP will help.

Getting initial training can be expensive, and there are exam costs as well, as you are aware.  Coursera looks much cheaper but before you commit, please check whether anybody out there passed the PMP exam based on Coursera training only.   Answering PMP exam questions questions correctly has a lot to do with understanding how PMI believes projects should be managed.  The training classes help with getting this context correctly, hence my suggestion to check out results of Coursera training before committing.  Getting the credits for renewals is less expensive than people think.  I usually spend less than $100 a year.  Local PMI chapter has monthly breakfast and dinner meetings which cost some money to attend, however reading books, blogs, and listening to podcasts also counts and most of those resources are free.

[firestarter2018]

Can't help with (1) and (4) as I ended up pivoting my career in a different direction relatively soon after obtaining my PMP (not great timing, I know, but one thing obtaining my PMP taught me was that legit, true-blue, by the book project management is incredibly difficult, often boring, and usually thankless!), but for the classroom hours, I would check with the Project Management Institute and see what they recommend in terms of suitable online options. You just want to make sure that if you go the Coursera route, that those trainings will count.

In terms of (3), it depends on a few factors. The intensive classes are expensive and have a reputation of being "cram-sessions," but by all accounts they do help you pass the test. If your company were paying for it, it would be a no-brainer. But when you're paying out of pocket I think the value proposition is less evident.  I did self-study and found it to be completely doable. At the time, I had two small kids, but after they went to bed I did 1-2 hours of study, maybe 4 days a week, for probably...4-6 weeks before the exam?  The only two books I used were the Rita Mulcahy book (legendary) and the PMBOK. I read and re-read all the Mulcahy chapters, made tons of flashcards, and took the quizzes several times each.  I supplemented those with practice quizzes from the many online sites that share free questions.  It takes some focus and commitment, but since I see this question often I always like to pop in and say that it's 100% a realistic option. As someone else noted, the PMP is all about how you would manage a project based on the PMBOK principles -- not necessarily how projects are managed at your company or in your industry. So you just need to go by the book, and you'll be fine.

[mspym]

Oh yeah the Mulcahy book is definitely worth it.

[Travis]

I just started pursuing the cert this month.  I don't need it for my current career in the Army, but with 3 years to go it feels like a good thing to have under my belt since project management is more or less what I'm already doing.  I haven't signed up for any training, but I just got the PMBOK and started reading it.  I'm looking at boot camps for the cert, but they're hard to come by overseas.

[dd564]

I just renewed my 5th cycle.

I got it and had it when the job market stunk in 2008-2009. After a six month layoff (me and all my PM friends were laid off) I landed a job because of my PMP which was an advantage over others.

I would say it won't help you get any more salary. I have 20+ years of PM experience and my salary is not close to the target you are looking at. The highest paid PM I've met or been associated with makes about $145k and it Information Technology.

It will help you land a PM position, but it won't be the reason you land at 200k.

[nirodha]

Had it since 2005. Building upon an engineering degree in computer science.

I read the PMBOK and a study book. Made sure I could pass the practice tests. I'm a good test taker. It wasn't a big deal at all. It did not make me a better PM.

Continuing education can typically be completed through free or near free options, including self-directed study. Early on I attended some of the paid events, including a couple global congresses. They were a pain and did not make me a better PM. PMI also never audited my continuing education.

This might be a reflection of my own limitations, but I didn't gain any value from the conference networking opportunities either. People tended to be insular within their own corporate groups. Maybe if you were a speaker there would be more options.

The main benefit I see to the cert, is PMI does a good job marketing. People that do not understand what is involved, think the PMP is much better than it really is. It can open the door to interviews, level the immediate impression of your reputation at a quick glance.

I think the impact on pay will be minimal. PMI does publish salary survey data. Last I recall, they show a higher value for the PMP by some amount, maybe 10-20k? But IMO there is a selection bias going on there. The type of person to chase certs is probably working a little harder anyways.


IMO seeking 150k+ as a non-engineer, you need to look at factors like - high cost of living area, leading a team of teams, consulting, or sales. Maybe you can find pure PM opportunities in "hated" industries like defense, pharmaceuticals, tobacco, etc. It's much less likely though. For the most part, I think high earning PMs are promoted out of the role.