PMP Salary Guide

A Project Management Professional is typically considered a well-paying career field, although the actual PMP salary can vary according to the selected area of specialization and the chosen industry for employment. On top of this, certification will not guarantee a higher pay range, although it can position PM professionals to take advantage of higher level vacancies and promotional opportunities. Location also plays an important role in the determining of PMP pay scales, and a little research of the specific regions can help provide a better view of the income that can be expected by selecting Project Management as the chosen career.

Which Specializations Pay The Most

The general rule concerning PMP specializations is that companies focusing on technology tend to offer the highest salaries. In fact, the area of Information Technology is often the highest paid specialization, particularly in the area of Systems, Applications, and Products (SAP) in the field of Data Processing. Specializations in software management and construction generally fall into the same PMP salary range, which begins around $50,000 per year, and can rise well above $100,000 annually. To get a better idea of the typical salaries in the PMP field, here is quick look at the average salary guide for the various levels of specializations:

• General (unspecified specialization): $43,000 per year
• Specialization in Construction: $50,000 per year
• Specialization in Information Technology: $60,000 per year
• Senior Project Manager: $84,000 per year
• Specialization in SAP: $95,000 per year
• Project Management Office (PMO) Director: $93,000 per year

How Certification Affects PMP Salary

The question as to whether PMP certification will guarantee a higher salary is answered by a general no, although certification can give applicants a leg up over the competition when it comes to filling higher paying positions. The purpose of a PMP certification is to provide credibility in regards to education and professional knowledge, which can lead to a higher PMP salary when a higher-level vacancy becomes open. This credibility also extends to potential clients, as certification is an immediate indication of the professionalism that clients expect when a company is hired for consultation.

The Cost Of Certification

Certification through the Project Management Institute is perhaps the most respected PMP certification available, but the cost of program can be expensive. Although the cost of the exam is set at $555, a Bachelor degree and 3 years of Project Management experience are also required for exam eligibility. The exam itself consists of 200 questions answered within a 4-hour time limit, and a certification renewal must be done every 3 years to maintain certified standing. Each renewal will have an additional cost of $150, but the potential for a higher PMP salary can make the renewal fee a worthy investment. A final note concerning certification renewal is that a requirement of 60 Professional Development Units must also be earned within that time frame, which can be done through providing professional services outside of current employment or the acceptance of specific tasks within the company.

Best Locations For PMP Jobs

Location plays an important role in when it come to how much jobs pay, and researching a particular region of interest can give a good idea of the salary range that can be expected the chosen area. The location that traditionally offers the highest PMP salary range is not surprisingly Washington D.C., although California is usually a very close second, particularly in the Los Angeles and San Francisco areas. Virginia may be more surprising, but the PMP salaries in this state are usually ranked among the top 5, with the remaining two states being Texas and Illinois. The Midwest states, on the other hand, usually offer salary ranges on the lower end of the spectrum, although this is often off-set by a lower cost of living. Government and Foundation PMP jobs also offer typically higher salaries than positions at private firms, with franchise positions often brining in the lowest of the salary ranges.

Project Management Professionals enjoy some of the most versatile employment opportunities, as Management positions are available in virtually every type of industry. Pay scales can vary according to specialization, however, with the highest PMP salary range usually found in the areas of Information Technology and Systems Management. Location can also affect salary, as positions in Washington D.C., California and Texas will typically offer higher salaries than similar positions found in the Midwest. Government and Foundation positions also offer typically higher pay than private firms and franchises, although actual pay will vary from company to company. While a PMP certification will not guarantee an increase in pay, obtaining the certification is still recommended, as it provides credibility in regards to education and professional knowledge, which can be important for both promotional opportunities and the securing of clients. Taking the certification exam can be expensive and 3-year renewals are required, but the benefits in regards to opportunities for a higher PMP salary can make the cost a worthwhile investment.