A new report has revealed that managers with Project Management Professional (PMP) certification, have 60 per cent higher earning potential than non-certified counterparts.
The Report titled: “Project Management Salary Survey, carried out by “Project Management Institute (PMI),” revealed that PMP certified project professionals in Nigeria demonstrated an even greater lift, reporting an increase of 60 per cent in median salary than their non-certified peers.
Results of the study also showed that respondents with PMP certification earn higher median salaries than those without PMP certification, 33 per cent higher on average across the 21 countries surveyed.
About two-thirds (66 per cent) of the survey participants reported that their total compensation (including salary, bonus, and other cash incentives) increased over the 12 months before completing the survey. The data also shows a broad consensus that the PMP certification is valuable not only for salary growth but also for career development.
The study data showed that the median salary of project professionals varies considerably from country to country and across variables, while revealing that in Nigeria, it is $23,370 among project professionals.
This latest edition of the biennial publication draws insights from over 20,000 respondents in 21 countries, 78 per cent of whom hold the PMP certification. Survey results revealed that consensus among respondents from Nigeria that the PMP certification is valuable to their careers is particularly strong.
Responding to the findings of the report, managing director, PMI, Sub-Saharan Africa George Asamani, said, “Project management is a fulfilling career and, with the right certification, rewarding too. The PMP certification holds the potential to boost earning power, making it a must-have for professionals. Viewed as a scarce skill on the continent, PMI is intentional about supporting project professionals with globally recognized certifications at every career stage.
“Africa’s economic prospects hinge on various elements and strategies and include policy framework, capacity building, infrastructure, access to resources, technology, and R&D, amongst others. This requires a comprehensive approach involving various stakeholders, including governments, private sector entities, and civil society, working together. The final piece of this puzzle is project management – getting all these role players to deliver successful projects.”
While there can be a monetary advantage to earning the PMP certification, there are other benefits, including the fact that certified project professionals are in significant demand across industries and geographies, and hiring managers are recognizing the value of industry certifications and skills-based hiring. Additionally, earning the PMP certification proves professionals have the skills needed for project success, helping them break into an industry they are passionate about and empowering them to build a career around their passion.
Maintaining the PMP certification proves professionals’ commitment to career-long learning, which is especially important as emerging technologies are becoming part of everyday business.
