Is your career in project management ready for a boost?
Are you curious about how a Project Management Professional ( PMP ) certification can elevate both your role and salary in 2024? With project management becoming an increasingly important skill across industries, PMP certification is more than a title; it’s a game changer.
Earning a PMP certification does more than just validate your skills; it has a significant impact on your pay. In fact, a survey conducted by the Project Management Institute (PMI) found that people with the PMP certification make 33% more in salary on average than those without it. This can translate to an average salary of almost $120,000 in the United States. Globally, PMP holders in countries like Switzerland earn as much as $130,000.
In this blog, we’ll look at how a PMP certification can affect your salary, what opportunities it can open up, and the key factors—such as location and experience—that can influence the salary you can make.
Table of Contents
Average Salary of a PMP Project Manager
In the US, professionals who hold the PMP certification earn a substantial salary premium over their non-certified counterparts. The average salary of PMP project managers hovers around $120,000 annually, with professionals in some regions and industries earning even higher amounts depending on experience and specific roles.
This reflects the value that organisations place on certified professionals who have demonstrated experience managing complex projects.
PMP Salary Breakdown: Annual, Monthly, Weekly, Hourly
Experience Level | Annual Salary | Monthly Salary | Weekly Salary | Hourly Salary |
---|---|---|---|---|
Entry-Level | $60,000-$70,000 | $5,000-$5,833 | $1,153-$1,346 | $29-$33 |
Mid-Level | $80,000-$90,000 | $6,667-$7,500 | $1,538-$1,731 | $38-$43 |
Senior-Level | $105,000-$120,000 | $8,750-$10,000 | $2,019-$2,308 | $50-$58 |
This table provides a breakdown of the potential earnings for PMP-certified project managers across different experience levels, illustrating how salaries scale with experience and expertise.
PMP Salary Differences Across Cities
As a PMP-certified professional, your earning potential may be greatly impacted by your location. The cost of living and the need for skilled professionals in large cities like New York and San Francisco usually result in a higher salary. However, cities like Chicago and Austin still offer lucrative opportunities.
The annual, monthly, weekly, and hourly incomes for PMP holders in several U.S. cities are highlighted in the table below.
City | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
---|---|---|---|---|
Foster City, CA | $155,713 | $12,976 | $2,994 | $74.86 |
Santa Clara, CA | $150,829 | $12,569 | $2,900 | $72.51 |
Federal Way, WA | $149,178 | $12,431 | $2,868 | $71.72 |
Washington, DC | $148,626 | $12,385 | $2,858 | $71.46 |
San Francisco, CA | $145,103 | $12,091 | $2,790 | $69.76 |
Burlington, MA | $142,790 | $11,899 | $2,745 | $68.65 |
Los Angeles, CA | $142,550 | $11,879 | $2,741 | $68.53 |
Marysville, WA | $142,169 | $11,847 | $2,734 | $68.35 |
Green River, WY | $141,901 | $11,825 | $2,728 | $68.22 |
Tracy, CA | $141,255 | $11,771 | $2,716 | $67.91 |
Will a PMP Certification Increase My Salary?
Yes, a PMP certification can increase your salary substantially. According to the Project Management Institute (PMI), professionals with PMP certification earn 33% more than those without it. The certificate is recognised around the world and shows that you possess the abilities needed to successfully manage challenging projects.
PMP-Certified Professionals: High-Earning Positions to Consider
A PMP certification opens doors to a variety of high-paying job roles. According to ZipRecruiter, here are ten top-paying positions for PMP-certified professionals:
1. Project Executive
Salary range: $141,500 – $196,500 per year
A project executive leads a company’s project management team, overseeing strategic planning and the progress of multiple projects. This role requires 10-15 years of experience in project management.
2. PMO Lead
Salary range: $123,000 – $180,000 per year
A PMO lead monitors, reports, and oversees projects within an organization’s Project Management Office. They offer guidance to executives and project managers while ensuring adherence to standards.
3. SAP Project Manager
Salary range: $124,000 – $177,500 per year
Responsible for managing SAP projects, this role involves developing detailed project plans and aligning business objectives with system solutions.
4. PMO Consultant
Salary range: $116,000 – $160,500 per year
A PMO consultant provides project strategy, sets goals, and advises teams. This role also involves tracking project progress and improving documentation procedures.
5. Project Management Consultant
Salary range: $111,500 – $160,000 per year
Working for consulting firms, project management consultants help clients develop project plans, oversee teams, and ensure goals are met efficiently.
6. Scrum Product Owner
Salary range: $105,500 – $160,000 per year
This role manages product development within Agile frameworks, ensuring the team delivers results aligned with the project’s vision.
7. ERP Project Manager
Salary range: $108,000 – $156,000 per year
ERP project managers implement Enterprise Resource Planning systems to streamline operations across industries like finance, healthcare, and manufacturing.
8. Change Management Consultant
Salary range: $109,000 – $154,500 per year
Change management consultants help businesses adapt to new strategies or structures, training employees to handle transitions smoothly.
9. PMO Project Manager
Salary range: $94,500 – $150,000 per year
Overseeing the Project Management Office, a PMO project manager ensures that IT projects are completed according to best practices and company policies.
10. Implementation Consultant
Salary range: $73,000 – $148,000 per year
Implementation consultants manage large-scale projects such as software rollouts, government regulation changes, or organisational restructuring.
These roles offer high salaries and diverse opportunities across industries like IT, healthcare, and finance. Gaining the ability to lead projects and drive strategic initiatives with a PMP certification gives you the credibility and abilities you need to land high-impact, well-paying jobs.
Ready to Start Your PMP Certification Journey?
Earning your PMP certification is a wise investment in your future, as it opens the door to significant salary increases, career advancement, and the opportunity to work on more complex and rewarding projects.
Whether you’re new to project management or want to advance your skills, PMP certification can help you stand out in today’s competitive job market.
To get started, equip yourself with the right tools for success. Here are some essential resources tailored to help you excel:
- PMP Exam Prep Course: Dive deep into all exam topics with our comprehensive PMP Course.
- PMP Real Practice Exams: Test your knowledge with our PMP Real Practice Exams, which are designed to mirror the actual exam environment.
- PMP Flashcards: Quickly review key terms and concepts with our handy PMP Flashcards.
- PMP Weekly Quiz: Stay sharp and assess your progress with our PMP Weekly Quiz.
PM Training School prepares you not only for an exam but also for success in the field of project management.
Frequently Asked Questions (FAQs)
Let’s go over some frequently asked questions from working professionals about the PMP certification salary guide.
1. Is PMP certification worth the investment?
Absolutely. In addition to raising your pay, a PMP certification promotes your marketability in a highly competitive work market, opens doors to more advanced responsibilities, and provides you the credibility to lead complicated projects.
2. How long does it take to prepare for the PMP exam?
Depending on your experience, preparation time varies, but most candidates study for three to six months. The process can be sped up with the aid of tools like flashcards, practice exams, and PMP exam prep classes.
3. What are the prerequisites for taking the PMP exam?
To be eligible for the PMP exam, you need either a four-year degree, 36 months of project management experience, and 35 hours of project management education/training, or a high school diploma with 60 months of project management experience.
4. How do I maintain my PMP certification?
It is necessary to renew PMP certification every three years. You must earn 60 professional development units (PDUs) through ongoing education and professional activity for you to keep your certification.
Conclusion
We hope that this blog has helped you understand how earning a PMP certification can increase your salary and lead to new professional options. Whether you’re trying to progress in your project management job or are just starting out, knowing the prospects and dynamics of remuneration will help you make an informed choice.
Need help preparing for your PMP certification?
Enquire now with PM Training School for expert guidance and essential resources.
Recent Comments