How Much Does PMP certification Cost?

By Aarav Goel 06-Apr-2023

Internationally recognized Project Management Professional, PMP certification informs clients, colleagues, and the world about what you are doing in project management wherever you are in your career. Research suggests that, by 2027, companies would have to fill approximately 2.2 million new project-oriented positions per year. That means there will be high demand from professional project managers.

At Koenig, you may expect to learn from project preparation, kick-off, managing, tracking, and ensuring successful sign-off on how to handle the entire project management process. We deliver online PMP certification instructor-led training that will help busy professionals understand the intricacies of this widely sought-after qualification. The PMP certification is recognized internationally and generally adopted by organizations across various verticals of the industry.

PMP certification increases the value of your career. Since now we know the basics of PMP certification, let's talk about what it is and how much it costs.

PMP Certification Overview

Project Professional Management (PMP) certification is an industry-recognized qualification for project managers. PMP shows the knowledge, preparation, skills, and abilities required to lead and direct projects. It is a globally recognized course in project management. The latest version of this exam is the PMBOK-fifth edition. The certification has a three-year validity.

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How Much Does a Project Management Certification Cost?

The PMP certification has a varying rate in different countries. Most of the rates are quite similar and depend on the currency conversion rate. The PMP costs incurred for earning 25 PDUs can range between $300 and $5000.

The computer-based testing (CBT) fee for the PMP exam is

$405 for a PMI member
$555 for a non-PMI member

PMP Renewal Fee:

Here’s everything you need to know about the PMP re-examination fee. Should you not clear the exam in your first attempt, you can also retake the exam. The re-examination fee is

$275 for a PMI member
$375 for a non-PMI member

Once the Project Management Institute confirms that you meet all PDU requirements, you will get an e-notification telling you to reapply for PMP exam renewal. When you receive the notification, the PMI will ask you to submit the certification renewal fee through the online PMP certification system.

PMI Membership Status CCR Renewal Fee:

The PMI membership renewal fee costs $60 for an existing PMI member and $150 for a new or first-time member.

The PMI membership renewal fee is separate from the renewal fee for re-examination. As a candidate, you can complete this renewal at any given point in your cycle provided you meet all PDU requirements and submit all necessary payments. This must be done at most 90 days after the end date of the cycle.

Once all the procedures are complete, PMI sends a new certificate to you with an active certification and CCR cycle dates once they process the payment and completed application. Document delivery via post usually takes about six to eight weeks to complete.

A PMI certification holder is bound to comply with all the usage terms and conditions, which includes adherence to audit norms. In the event an audit takes place, you as a candidate can renew your certification only once the audit is complete and you comply with the latest set of terms and conditions.

Renewal Process:

The PMI selects a group of certification holders at random for their audit process. At this time, candidates must submit any supporting material or documents that can verify their PDUs. For this reason, you must keep your PDU claim documents handy for a minimum of 18 months after the CCR cycle ends.

Certification Cancellation:

As a candidate, you are free to cancel your PMI certification any time you please. To cancel, you must write to customercare@pmi.org and get in touch with the customer care team at PMI. Once they receive this application, the PMI refunds 33% of your renewal fee for every full year of the CCR cycle or renewed certification that you haven’t used post the date of the cancellation request.

If any circumstances prohibit you from completing the renewal process, you can immediately contact customer care. The PMI then reviews and settles these claims based on the unique requirements of every case.

How to Get a PMP Certification in India:

The PMP certification cost in India, USA, Canada and UK vary from one country to another. The PMP (Project Management Professional) certification is one of the world’s topmost credentials. Its applications and jobs extend across banking, telecommunications, pharmaceuticals, automobiles and healthcare. When you earn a PMP certification, you can get jobs in all these industries and more.

To earn a PMP certification, you must meet the predetermined requirements and clear the qualifying exam. Once you earn a certification, it stays valid for three years after which you need to get 60 PMP PDUs and start your renewal process.

In the info tech industry, people with a PMP credential can earn as much as $1.4 million. Studies have also shown that people in the banking industry generated the highest annual incomes with PMP certifications. Project managers are in high demand across almost every firm regardless of industry.

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Benefits of Having a PMP Certification in India:

Today, earning a skill-based certification or credential can add significant value to your career. According to the CIO magazine, the PMP certification is the leading project management credential in the world since it provides strong evidence of a candidate’s experience, expertise and skills. The most recent salary survey of project managers by PMI shows that the average salary of a PMP certification holder is 25% higher than project managers without a professional certification.

In India, there are several benefits of earning a PMP credential.

Stand out in the crowd: Getting a PMP certification indicates that a candidate is familiar with the technical nuances of the industry along with the best practices of project management. All these features combine to form the ideal project management candidate for any organisation.
Earn a high salary: Certified PMP professionals can earn between 17 and 30% higher than non-certified professionals according to the Project Management Financial Report v.8.
Validates your professional experience and expertise: Project managers with an undergraduate degree need to have about 4500 hours of experience. With an associate degree, you need to have 7500 hours of work experience as a project manager along with 35 hours of experience in project management education.
Gain leadership qualities: When a project is implemented, there is a high chance you will get a team to lead with a Project Management Professional certification that assists you in effective leadership.
Several new networking opportunities: The Project Management Institute conducts meetings in several locations regularly and invites several PMPs to talk about the newest project management innovations. You get to increase your professional network and learn about new prospects for employment, new trends and several topics that can advance your career.
Work on more effective and productive projects: With a PMP certification, you get to learn about several project management best practices and tools that will enable you to improve project performance and reduce the chances of project failure.
Paves the way for jobs in new markets both nationally and internationally: The PMP certification is a globally recognised certification that helps you apply for jobs as a project manager across any sector in any market across any geographical location.

Value of a PMP Certification in India:

According to data shared by PMI, there are over 773,840 active PMP certification-holding candidates in the world today.
A PMP (Project Management Professional) certification holder earns 20% higher than project managers without a certification.
Only 58% of the world’s organisations understand the value project management adds. This means several new opportunities for project managers await as more enterprises adapt to the market trend.
According to PMI’s annual study, 68% of the world’s business forms claim to either engage, contract or outsource project managers, as of 2018. This loosely translates to enterprises looking for trained and qualified project managers to join their teams.
Several organisations also provide PMP certification prep and training courses for their employees. A PMP certification serves to future proof your career and safeguard your employment. It also means increased earning opportunities both in your company as well as any other organisation you join.

PMP Salaries in India:

A PMP certified professional can earn an annual salary that falls between INR 2,00,000 and INR 10,00,000 per annum. A candidate with the skills of a project manager can add value to both private and public enterprises. Certified PMP candidates have seen a rising demand both in India and abroad.

Leading companies across India and the world are looking for certified project managers. Some of the top companies offering project manager roles are listed below along with the average remuneration they provide.